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  • Early Morning Vibes: The 4 Best Stocks To Buy Now

    Early Morning Vibes: The 4 Best Stocks To Buy Now

    On January 19, American stock indexes finished trading in the green zone. The S&P 500 Index rose 0.81% to 3799 points, the NASDAQ rose 1.53%, the Dow Jones added 0.38%. The optimism was driven by a call for Congress, Janet Yellen, who will become the next finance minister, to increase fiscal stimulus by raising government spending. The tech sector emerged as one of the top gainers with 1.31% as Janet Yellen opposed a sharp increase in corporate taxes.

    Corporate news

    • Investment bank Goldman Sachs (GS: -2.3%) showed strong results, but management was cautious in forecasting gains from trading.
    • General Motors (GM: + 9.8%) entered into a partnership agreement with Microsoft (MSFT: + 1.8%) to commercialize electric vehicles with autopilot function.
    • Lithium Americas (LAC: + 30.6%) has been cleared by the Bureau of Land Management to mine lithium in Nevada.

    Today, global stock markets are showing mixed dynamics. The news background is mostly calm. Investors are focusing on the inauguration of Joe Biden, who will become the 46th President of the United States. In the first hours and days as head of state, Biden plans to repeal a number of Donald Trump’s decrees related to climate policy, immigration, and a number of other aspects. What really matters for the stock market will be decisions related to the fight against COVID-19. It is expected that Biden will oblige citizens to wear masks on federal sites and establish additional sanitary rules. In the first 100 days of his term, the new head of state expects that 100 million people will be vaccinated against the coronavirus. Investors will watch to see how successfully this plan is implemented.

    The epidemiological situation in the United States is gradually improving, which has a positive effect on the mood of market participants. The number of patients hospitalized with coronavirus infection fell to 123.8 thousand from a historical high of 132.5 thousand, reached two weeks earlier. Probably, the peak loads on US hospitals have been left behind. In the near future, volatility across sectors and industries will increase due to the publication of quarterly reports. Investor expectations are generally positive, but management’s forecasts for 2021 will be critical.

    Meanwhile, the Freedom Finance Sentiment Index climbed to 58 out of 100. The index reflects market participants’ hope for a global economic recovery in 2021. Concerns about the negative impact of the coronavirus pandemic are weakening thanks to the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is still prone to short-term consolidation. On the eve of the broader market index showed a sharp rebound from the level of 3750 points, signaling the continued strength of buyers. Technical indicators are a mixed bag. In case of confident overcoming of the historical maximum at 3827 points, the S&P 500 will continue its upward movement within the equidistant channel.

    Today Top Movers

    BEST Inc (BEST), a trucking company, soared about 12.20% ‎at $2.30 in pre-market ‎trading Wednesday on a possible deal with Alibaba Group. ‎ ‎‎

    ‎Aikido Pharma Inc (AIKI) share price jumped 15.45% to $1.27 during early morning ‎trading session on ‎Wednesday.‎‎‎ ‎‎

    ‎PC-Tel Inc (PCTI) stock ascended 26.58% at $11.24 in the pre-market trading today after declaring a development partnership with Zeem Solutions.‎‎ ‎‎

    ‎Sundial Growers Inc (SNDL) gained over 2.90% at $0.71 in pre-market ‎trading on Wednesday.‎‎

    Top Upgrades & Downgrades

    UBS turned bullish on Netflix Inc. (NFLX), upgrading the stock to “Buy” and assigning a $650.0 price target, representing potential upside of 29.54% from Tuesday’s close.

    The Boeing Company (BA) has won the favor of Berenberg’s equity research team. The firm upgraded the shares from Sell to Hold and moved their price target to $215.0, suggesting 2.06% additional upside for the stock.

    Polaris Inc. (PII) received an upgrade from analysts at BMO Capital, who also set their one-year price target on the stock to $136. They changed their rating on PII to Outperform from Market Perform in a recently issued research note.

    Earlier Wednesday BTIG reduced its rating on Beyond Meat Inc. (BYND) stock to Neutral from Buy.

    Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Global Blood Therapeutics Inc. (GBT) has been changed to Neutral from Overweight and the new price target is set at $50.

    Analysts at Piper Sandler downgraded ShockWave Medical Inc. (SWAV)’s stock to Neutral from Overweight Wednesday.

    Latest Insider Activity

    IHS Markit Ltd. (INFO) EVP, CFO Gear Jonathan announced the sale of shares taking place on Jan 19 at $87.50 for some 4,000 shares. The total came to more than $0.35 million.

    Teladoc Health Inc. (TDOC) Head of Research & Development WANG YULUN sold on Jan 14 a total of 243,768 shares at $226.66 on average. The insider’s sale generated proceeds of almost $1.81 million.

    Orgenesis Inc. (ORGS) Director SIDRANSKY DAVID declared the purchase of shares taking place on May 20 at $6.98 for some 10 shares. The transaction amount was around $70.

    Old Republic International Corporation (ORI) Director KOVALESKI CHARLES J bought on Jan 13 a total of 10,346 shares at $18.74 on average. The purchase cost the insider an estimated $4,685.

    Important Earnings

    Top US earnings releases scheduled for today include Morgan Stanley (NYSE: MS). It will announce its Dec 2020 financial results. The company is expected to report earnings of $1.27 per share from revenues of $11.54B in the three-month period.

    Analysts expect U.S. Bancorp (NYSE: USB) to report a net income (adjusted) of $0.95 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $5.82B.

    Kinder Morgan Inc. (KMI), due to announce earnings after the market closes today, is expected to report earnings of $0.24 per share from revenues of $3.05B recently concluded three-month period.

  • Early Morning Vibes: 4 Stocks We Like for Tuesday Trading

    Early Morning Vibes: 4 Stocks We Like for Tuesday Trading

    Major US stock indices fell 1.3-1.5% on the first day of trading in 2021.

    The broad market S&P 500 index fell 1.48% to 3700.65 points, the industrial Dow Jones Industrial Average fell 1.25% to 30223.89 points, and the technological NASDAQ dropped 1.47% 12698.45 points.
     

    Despite the general optimistic sentiment of investors regarding the recovery of the global economy after the coronavirus pandemic, the indices declined.

    At the start of the new year, investors focused on the same issue that has dominated the markets for much of 2020: the coronavirus pandemic. Many expect economic activity to accelerate later this year as communities are vaccinated, and organizations reopened. At the same time, there is an understanding that the path to economic recovery will be long and uneven.

    Recent news on the coronavirus situation paints a bleak picture. In the United States, the number of hospitalizations on Sunday reached a record high. In several countries in Europe, governments are extending quarantine restrictions designed to slow the spread of infection.

    The difficulty in dealing with the pandemic means that many companies will be vulnerable to financial risks in the short term.

    The experts noted growing nervousness over the results of the second round of elections to the U.S. Senate in Georgia. The outcome of the vote will determine whether the Republicans will retain control of the Senate. According to investors in prediction markets, the likelihood of a GOP victory has diminished in the past few days, potentially signaling a tense battle for Senate seats.

    Corporate Highlights

    Coca-Cola shares lost 3.8%. RBC Capital Markets has downgraded their rating from “above sector” to “par with the sector.” The bank’s analysts believe that the pandemic will continue to restrict public events and consumer access to restaurants, negatively affecting demand for Coca-Cola products.

    Airline stocks, which were also seriously affected by the coronavirus, also declined on Monday. In particular, American Airlines shares fell 4.1%, while Delta Air Lines shares fell 3.7%.

    Hotel chain shares were also down, with Hilton Worldwide Holdings down 3.4%, while Marriott International shed 5.4%.

    Tesla, meanwhile, gained 3.4%. The electric vehicle maker said it delivered a record 499,550 vehicles last year, just slightly below its target of 500,000.

    Amid a massive sell-off in shares, gold prices jumped 2.7% to $ 1,944.70 per troy ounce, the most significant percentage gain since April. Precious metal quotes usually receive support when market volatility increases.

    An additional source of joy in the market was the latest data on the manufacturing sector’s state. According to surveys of purchasing managers, factories in Asia and Europe increased their output at the end of the year. In December, there was a substantial rise in activity.

    Today Top Movers

    ‎Jaguar Health Inc (JAGX) share price ascended 30.90% to $2.33 during early morning ‎trading session on Tuesday.‎ ‎

    Zosano Pharma Corp (ZSAN), a Biotechnology company, increased about 78.60% ‎at ‎‎$1.04 in pre-market trading Tuesday after declaring that the company requested a Type A meeting with the U.S. Food and Drug Administration (FDA) to review resubmission plans for Qtrypta new drug application. ‎

    Naked Brand Group Ltd (NAKD) stock surged 14.83% at $0.25 in the pre-market trading today.

    Broadway Fin Cp (BYFC) jumped over 46.88% at $2.82 in pre-market ‎trading on Tuesday after the company and CFBanc Corporation revealed receipt of regulatory approvals for the merger.

    Top Upgrades & Downgrades


    Needham turned bullish on Merit Medical Systems Inc. (MMSI), upgrading the stock to “Buy” and assigning a $65.0 price target, representing potential upside of 18.69% from Monday’s close.
     

    DocuSign Inc. (DOCU) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $300.
     

    Cadence Design Systems Inc. (CDNS) received an upgrade from analysts at KeyBanc, who also set their one-year price target on the stock to $155.0. They changed their rating on CDNS to Overweight from Sector Weight in a recently issued research note.
     

    Earlier Sunday Piper Sandler reduced its rating on Fortinet Inc. (FTNT) stock to Neutral from Overweight.
     

    Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Rapid7 Inc. (RPD) has been changed to Neutral from Overweight and the new price target is set at $95.
     

    Analysts at Piper Sandler downgraded Okta Inc. (OKTA)’s stock to Neutral from Overweight on Tuesday.

    Latest Insider Activity

    ReneSola Ltd (SOL) CFO SHAH CAPITAL MANAGEMENT announced the sale of shares taking place on Dec 31 at $11.90 for some 26,000 shares. The total came to more than $0.31 million.
     

    ACM Research Inc. (ACMR) Wang Jian sold on Dec 30 a total 84,386 shares at $78.00 on average. The insider’s sale generated proceeds of almost $2.53 million.
     

    Hall of Fame Resort & Entertainment Company (HOFV) Director Lichter Stuart declared the purchase of shares taking place on Dec 29 at $1.40 for some 10,813,774 shares. The transaction amount was around $15.14 million.
     

    Beyond Air Inc. (XAIR) CEO, Chairman Lisi Steven A. bought on Dec 31 a total 929 shares at $5.28 on average. The purchase cost the insider an estimated $203,280.

    Important Earnings

    Top US earnings releases scheduled for today include Cal-Maine Foods Inc. (NASDAQ:CALM). It will announce its Nov 2020 financial results. The company is expected to report earnings of -$0.08 per share from revenues of $333.49M in the three-month period.