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Tag: WFC

  • Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    On February 17, American stock exchanges closed in different directions. The S&P 500 index dropped by a purely symbolic 0.03%, to 3931 points, the NASDAQ lost 0.58%, and the Dow Jones added 0.29%. Retail sales rose sharply in January thanks to direct payments to the public, which supported the bullish sentiment. The market saw a capital flow from growth stocks to value stocks, which made the IT sector an outsider, losing 1.03%. The energy sector remained among the leaders and grew by 1.45% amid rising oil prices.

    Company news

    QuantumScape (QS: + 31.4%) announced a breakthrough in the development of next generation solid state batteries.

    Popular website builder Wix.com’s quarterly results (WIX: + 8.1%) exceeded expectations, as did the company’s forecasts for 2021.

    Shopify’s (SHOP: -3.3%) revenue and operating numbers were above consensus, but the stock is up more than 25% YTD, so investors have taken profits.

    Today, global stock exchanges are showing mostly negative dynamics. The published minutes of the FRS meeting, held on January 26-27, fully coincided with the expectations of investors. The meeting participants did not discuss the reduction of the asset purchase program, since macroeconomic indicators do not allow even considering such a possibility. The factor of ultra-soft monetary policy has been in the field of view of investors for a long time, so the degree of its influence is gradually decreasing.

    Note that positive data on retail sales in January (+ 5.3% mom) confirmed the effectiveness of fiscal stimulation by direct payments to the population. The stimulus package currently under discussion includes direct payments of $ 1,400, more than double the previous subsidy. In this regard, a similar increase in consumer spending can be expected in April and May.

    In the short term, a correction in the S&P 500 index is not ruled out, since a sharp rise in bond yields and the prospects for an early opening of the economy may lead to some capital outflow from the US tech sector. Cyclical sectors can look stronger than the market.

    The data on the issued building permits for January will be published today. A slight decrease is expected compared to the previous month, when the highest level in more than 10 years was recorded (forecast: 1.678 million, previous value: 1.704 million). The real estate market remains in excellent shape, so a slight slowdown in construction growth will only protect it from overheating.

    The Freedom Finance Sentiment Index remains at 78 out of 100. The indicator reflects the hope of market participants for a recovery in the global economy in 2021. Concerns about the negative impact of the coronavirus pandemic are gradually diminishing thanks to the prospects for mass vaccinations.

    Technically, the S&P 500 is still in an uptrend. The upper limit of this trend still limits the growth potential of the broad market index. On the eve of the “bulls” showed weakness, which, however, turned out to be short-lived. In the short term, a correction or consolidation is likely, as the RSI indicator is forming a bearish divergence near the overbought zone.

    Today Top Movers

    Tilray Inc (TLRY) stock ascended 8.19% at $34.09 in the pre-market trading today after the company declared financial results for the full fiscal year and fourth quarter ended December 31, 2020.

    Avinger Inc (AVGR) gained over 58.58% at $2.68 in pre-market ‎trading on Thursday.‎‎ Avinger, Inc. to be issued US Patent No. 10,932,670 by the US Patent and Trademark Office on 3/2, titled: OPTICAL PRESSURE SENSOR ASSEMBLY.

    Onconova Therapeutics Inc (ONTX) grew over 15.23% at $1.74 in pre-market trading ‎today following the closing of a $28.75 million public offering of common stock.

    Luokung Technology Corp (LKCO) stock moved up 14.02 percent to $2.52 in the pre-market ‎trading. The firm recently declared a $100 million registered direct offering priced at the market under Nasdaq Rules.‎

    Top Upgrades & Downgrades

    Berenberg turned bullish on STMicroelectronics N.V. (STM), upgrading the stock to “Hold”. 

    Mohawk Industries Inc. (MHK) has won the favor of Credit Suisse’s equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $180. 

    Wells Fargo & Company (WFC) received an upgrade from analysts at JPMorgan, who also set their one-year price target on the stock to $37. They changed their rating on WFC to Neutral from Underweight in a recently issued research note. 

    Earlier Thursday Kepler Cheuvreux reduced its rating on TechnipFMC plc (FTI) stock to Hold from Buy and assigned the price target to 8.21. 

    Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Noble Midstream Partners LP (NBLX) has been changed to Neutral from Outperform and the new price target is set at $13.5. 

    Analysts at Baird downgraded Kratos Defense & Security Solutions Inc. (KTOS)’s stock to Neutral from Outperform Thursday.

    Latest Insider Activity

    Freeport-McMoRan Inc. (FCX) VP Controller & Financial Rptg WHITMIRE C DONALD JR announced the sale of shares taking place on Feb 12 at $30.84 for some 48,240 shares. The total came to more than $1.49 million. 

    Marvell Technology Group Ltd. (MRVL) CEO and President MURPHY MATTHEW J sold on Feb 16 a total of 282,328 shares at $53.20 on average. The insider’s sale generated proceeds of almost $0.4 million. 

    New York Community Bancorp, Inc. (NYCB) Director Rosenfeld Ronald A. declared the purchase of shares taking place on Feb 09 at $10.63 for some 5,000 shares. The transaction amount was around $53,169. 

    CVS Health Corporation (CVS) Director LUDWIG EDWARD J bought on Feb 17 a total 14,334 shares at $72.00 on average. The purchase cost the insider an estimated $216,000.

    Important Earnings

    Top US earnings releases scheduled for today include Barrick Gold Corporation (NYSE: GOLD). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.31 per share from revenues of $3.27B in the three-month period. 

    Analysts expect Walmart Inc. (NYSE: WMT) to report a net income (adjusted) of $1.51 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2021 is predicted to come in at $148.47B. 

    Host Hotels & Resorts Inc. (HST), due to announce earnings after the market closes today, is expected to report earnings of -$0.42 per share from revenues of $243.28M recently concluded three-month period.

  • Early Morning Vibes: 4 Stocks We Like for Thursday

    Early Morning Vibes: 4 Stocks We Like for Thursday

    These are turbulent times in America. Trump supporters swept into the Capitol, the seat of Washington’s representatives. Things got so bad in the capital of the United States that Donald Trump’s social media accounts were suspended by Twitter and Facebook. In an initial reaction, the American indices fell. But these seem to have recovered significantly this morning. The reason for the event is a possible blue wave as the Democrats seem to be bringing in the Senate. In this way Biden will be able to fulfill much more of his political agenda. Deutsche Bank has already announced that they expect additional stimulus from this victory. The German bank expects that the additional support package for the coming year could be between $ 750 billion and $ 1 trillion. Good for US equities, bad for the value of the US dollar.

    Market Update

    Yesterday the S&P 500 rose 0.57% to close at 3,748 points. The Nasdaq 100 fell 1.40% to close at 12,623 points. Not a very good day for technology stocks. America’s oldest index, the Dow Jones, closed 1.44% in green at 30,829 points.

    Corporate News

    NVIDIA all set for takeover

    NVIDIA, the manufacturer of computer components, has made an offer of $ 40 billion for the technology company Arm. The latter is the UK’s most valuable technology company. NVIDIA has announced that they would like to keep the headquarters in the United Kingdom and fully focus on AI (artificial intelligence) via Arm. The British government has already announced that they want guarantees about permanent employment. Furthermore, the CMA (Competition and Markets Authority) also has a leading role to play after Brexit. Previously, the wings of this UK institution had been cut short by European regulators. The CMA will consider whether this acquisition would create unfair competition and will reach a decision within 18 months at the earliest. The NVIDIA stock is listed on Nasdaq, falling 5.90% yesterday during regular trading time.

    Today Top Movers

    Plug Power Inc (PLUG) climbed about 19.91% ‎at $42.00 in pre-market trading Thursday after declaring partnership with SK Group to receive $1.5 billion investment. ‎

    Sos Ltd (SOS), a Medical Care Facilities company, share price soared 97.09% to $3.39 during early morning ‎trading session on Thursday following an announcement from the company that SOS has entered into employment agreement with Dr. Eric H. Yan, an expert in cryptocurrency mining, security and insurance technologies. ‎

    Guardion Health Sciences Inc (GHSI) stock ascended 17.94% at $0.77 in the pre-‎market trading today. ‎

    Future Fintech Group Inc (FTFT) gained over 55.95% at $.62 in pre-market ‎trading on Thursday.‎ The firm recently revealed that it has signed a term sheet with Blocknance Financial International SRL.

    Top Upgrades & Downgrades

    RBC Capital turned bullish on Tesla Inc. (TSLA), upgrading the stock to “Sector Perform” and assigning a $700.0 price target. 

    Wells Fargo & Company (WFC) has won the favor of Jefferies’s equity research team. The firm upgraded the shares from Hold to Buy and moved its price target to $38.0. 

    JPMorgan Chase & Co. (JPM) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $152.0. They changed their rating on JPM to Buy from Hold in a recently issued research note. 

    Earlier Thursday Jefferies reduced its rating on Air Products and Chemicals Inc. (APD) stock to Hold from Buy and assigned the price target to $324. 

    Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Aerojet Rocketdyne Holdings Inc. (AJRD) has been changed to Hold from Buy and the new price target is set at $56.0. 

    Analysts at Jefferies downgraded Kratos Defense & Security Solutions Inc. (KTOS)’s stock to Hold from Buy Thursday.

    Latest Insider Activity

    Yelp Inc. (YELP) Chief Executive Officer Stoppelman Jeremy announced the sale of shares taking place on Jan 04 at $29.98 for some 346,830 shares. The total came to more than $10.4 million. 

    The Charles Schwab Corporation (SCHW) Senior EVP Craig Jonathan M. sold on Jan 06 a total of 7,316 shares at $55.94 on average. The insider’s sale generated proceeds of almost $0.41 million. 

    Ring Energy Inc. (REI) 10% Owner Kruse William R declared the purchase of shares taking place on Dec 31 at $0.67 for some 619,898 shares. The transaction amount was around $0.41 million. 

    First Financial Bancorp. (FFBC) Director Rahe Maribeth S bought on Dec 31 a total 41,769 shares at $17.53 on average. The purchase cost the insider an estimated $12,499.

    Important Earnings

    Top US earnings releases scheduled for Monday include SYNNEX Corporation (NYSE: SNX). It will announce its Nov 2020 financial results. The company is expected to report earnings of $3.83 per share from revenues of $6.6B in the three-month period. 

    Analysts expect Limoneira Company (NASDAQ: LMNR) to report a net income (adjusted) of -$0.21 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2020 is predicted to come in at $29.19M. 

    Concentrix Corporation (CNXC), due to announce earnings after the market closes Monday, is expected to report earnings of $1.98 per share from revenues of $1.24B recently concluded three-month period.

  • 15 Trending Stocks In Banking Industry To Invest In

    15 Trending Stocks In Banking Industry To Invest In

    Digitalization has changed the way how people interact with each other and how they pursue their business activities. Similarly, the advancements and emergence of new banking technologies are continuing to influence the future of financial services around the globe. Digitalization and automation will continue to bring structural adjustments in the size of the bank industry workforce.

    Banks diversified industry is known for its diversified services to its customers according to their needs. Financial companies provide various financial services to various institutes, governments, consumers, and various corporations. Diversified financial services company provides banking, investment, mortgage, and various products and services to businesses, institutions, and individuals, around the world.

    Here are the top best-performing companies in the diversified banking sector which are following new market trends to provide the best services to customers:

    Citigroup Inc. (NYSE:C)

    Citigroup Inc. (NYSE:C) shares were trading down -6.94% at $44.81 at the time of writing on Tuesday. Citigroup Inc. (NYSE:C) share price went from a low point around $32.00 to briefly over $83.11 in the past 52 weeks, though shares have since pulled back to $44.81. C market cap has remained high, hitting $93.20B at the time of writing, giving it a price-to-sales ratio of more than 1.

    Federal regulators are gearing up to reprimand Citigroup Inc for failing to improve its risk-management systems. Citigroup Inc. (NYSE:C) has earlier disclosed its long-term partnership with Wayfair to provide a new private label Wayfair credit card and a co-brand Wayfair Mastercard. The decision of partnership came after Citigroup saw an increase in demand for online shopping. If we look at the recent analyst rating C, Odeon downgraded coverage on C shares with a Sell rating and a $69.21 price target, which implies room for 24.4% upside momentum this year.

    Bank of America Corporation (NYSE: BAC)

    Bank of America Corporation (BAC) last closed at $25.28, in a 52-week range of $17.95 to $35.72. Bank of America has announced redemption of senior notes. The redemption price for each series of the Senior Notes will be equal to 100% of the principal amount of such series, plus accrued and unpaid interest. It also excludes, the redemption date of October 1, 2020. Analysts have a consensus price target of $28.61.

    JPMorgan Chase & Co. (NYSE: JPM)

    JPMorgan Chase & Co. (NYSE: JPM) Shares headed falling, lower as much as -3.11%. The most recent rating by Deutsche Bank, on September 03, 2020, is at a Buy. JPMorgan Chase & Co. (JPM) and BlackRock Inc both entered into a partnership agreement with AI technology startup Saphyre to automate the opening of custody accounts. It was also the winning bidder on $900 million of New York Metropolitan Transportation Authority debt to finance subway, bus, and commuter-rail capital projects as the transit agency.

    Credit Suisse Group AG (NYSE: CS)

    Credit Suisse Group AG (NYSE: CS) stock drop by -2.41% to $10.92. The most recent rating by Exane BNP Paribas, on September 03, 2020, is at an Outperform. Credit Suisse Group AG (CS) and UBS Group are planning to create one of Europe’s largest banks. Credit Suisse has announced that it will launch a digital banking app in October challenging fintech like Revolut in the Swiss bank’s home market by offering free foreign transactions and fully digital wealth management.

    The Toronto-Dominion Bank (NYSE: TD)

    The Toronto-Dominion Bank (NYSE: TD) stock drop by -0.27% to $47.95 after TD has introduced its annual TD Thanks You campaign. The campaign aimed at thanking and rewarding those who are making an impact in their communities during this ongoing pandemic.  The most recent rating by Barclays, on August 19, 2020, is at an Equal-weight.

    UBS Group AG (NYSE: UBS)

    UBS Group AG (NYSE: UBS) stock drop by -1.84% to $12.29 after UBS YES INVESTORS: Dimond Kaplan & Rothstein, P.A. has lodged another FINRA Arbitration claim to recover yield enhancement strategy options losses. The FINRA claim stated that UBS misreport the risks of its options program and failed to use proper risk controls. The most recent rating by Berenberg, on May 04, 2020, is at a Hold.

    Mitsubishi UFJ Financial Group Inc. (NYSE: MUFG)

    Mitsubishi UFJ Financial Group Inc. (NYSE: MUFG) fall -0.24% after losing more than -$0.01 on Tuesday. Alphabet, Google’s parent company, Drager, and Peloton are the finalists for the AFP 2020 Pinnacle Award. The Pinnacle Award was sponsored by Mitsubishi UFJ Financial Group MUFG. The Pinnacle Award was established in 1997 to recognize excellence in treasury and finance.

    Barclays PLC (NYSE: BCS)

    Barclays PLC (NYSE: BCS) Shares headed falling, lower as much as -1.32%. The most recent rating by Investec, on July 10, 2020, is at a Buy. Barclays PLC has earlier disclosed that it will use its issuer call option and redeem, in full, its iPath MSCI India Index ETNs due December 18, 2036, on September 25, 2020.  Previously, Apple Inc revealed on Tuesday that it has ended its long-time card partnership with Barclays Plc. The decision was taken to move designed to focus attention on its own Apple Card product-financing plans.

    HSBC Holdings plc (NYSE: HSBC)

    HSBC Holdings plc (NYSE: HSBC) last closed at $20.71, in a 52-week range of $20.54 to $39.69. Analysts have a consensus price target of $22.56. HSBC Holdings plc (HSBC) has earlier revealed that it has launched the Thought Leadership Webinar Series during climate week NYC. Climate Week NYC is one of the largest international summits focused on climate change. It will be hosted in association with the United Nations and the City of New York.

    Wells Fargo & Company (NYS: WFC)

    Wells Fargo & Company (NYSE: WFC) stock soar by 0.28% to $24.88. The most recent rating by Wolfe Research, on September 14, 2020, is at an Outperform. Wells Fargo & Company (WFC) share price went from a low point around $22.00 to briefly over $54.75 in the past 52 weeks, though shares have since pulled back to $24.88. Wells Fargo & Company (WFC) market cap has remained high, hitting $101.16 billion at the time of writing.

    Banco Santander S.A. (NYSE: SAN)

    Banco Santander S.A. (NYSE: SAN) fall -1.40% after losing more than -$0.03 on Tuesday. Banco Santander S.A. (SAN) shares fluctuated between the 52-weeks low range of $1.90 and a high range of $4.42. It has moved up 11.58% from its 52-weeks low and moved down -52.04% from its 52-weeks high. Banco Santander S.A.’s market capitalization has remained high, hitting $36.23 billion at the time of writing.

    Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA)

    Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA) last closed at $2.82, in a 52-week range of $2.64 to $5.80. Analysts have a consensus price target of $2.94. Banco Bilbao Vizcaya Argentaria S.A. (BBVA) share price went from a low point around $2.10 to briefly over $6.31 in the past 52 weeks, though shares have since pulled back to $3.14. Banco Bilbao Vizcaya Argentaria S.A. market cap has remained high, hitting $1.16 billion at the time of writing.

    ING Groep N.V. (NYSE: ING)

    ING Groep N.V. (NYSE: ING) fall -0.95% after losing more than -$0.08 on Tuesday. ING Groep N.V. (ING) shares fluctuated between the 52-weeks low range of $4.52 and a high range of $12.44. It has moved up 84.07% from its 52-weeks low and moved down -33.12% from its 52-weeks high. ING Groep N.V.’s market capitalization has remained high, hitting $32.89 billion at the time of writing.

    NatWest Group plc (NYSE: NWG)

    NatWest Group plc (NYSE: NWG) Shares headed falling, lower as much as -1.15%. NatWest Group plc (NWG) share price went from a low point around $2.40 to briefly over $6.76 in the past 52 weeks, though shares have since pulled back to $2.57. NatWest Group plc. market cap has remained high, hitting $16.18 billion at the time of writing.

    Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG)

    Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG) last closed at $5.91, in a 52-week range of $4.49 to $7.56. Analysts have a consensus price target of $9.26. Sumitomo Mitsui Financial Group Inc. (SMFG) fluctuated between the 52-weeks low range of $4.49 and a high range of $7.56. It has moved up 31.36% from its 52-weeks low and moved down -21.83% from its 52-weeks high. Sumitomo Mitsui Financial Group Inc.’s market capitalization has remained high, hitting $40.47 billion at the time of writing.