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Tag: WMT

  • 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: Watch These 4 Stocks Today

    The US stock indexes were traded in small ranges on January 12. The S&P 500 has risen symbolically by 0.04% to 3801 points, with the Dow Jones and the NASDAQ contributing 0.19% and 0.28%, respectively. New drivers have been absent. The Russel 2000 small-cap index nevertheless increased by 1.77 percent, which indicates an increased propensity for risk. The energy industry was the pioneer in growth and has benefited 3.5% from the upward oil dynamics. The telecom market has sunk by 1.5 percent under pressure.

    Corporate Updates

    Walmart (WMT: + 1.15%) announced plans to create a fintech startup in partnership with venture capital fund Ribbit Capital, which backs broker Robinhood.

    Intel (INTC: + 3.3%) will increase production of new server processors. The company also unveiled 12th generation Alder Lake processors.

    Sports streaming service fuboTV (FUBO: + 34.2%) takes over the Vigtory bookmaker to launch its own bookmaker service by the end of the year.

    Today, foreign financial markets show mixed trends. The background of the news is quiet. Current activities in the United States linked to Donald Trump’s potential arrest had little impact on the movement of quotes as they does not conflict with the vaccine programme. The administration of Trump has meanwhile revealed reforms to promote the vaccine process. The key point of these improvements was that the second dose vaccine was spread rather than stored for two weeks. The list of people who will get the coronavirus vaccine has risen and there will be a substantial rise in the number of vaccination stations. The financial group is currently less concerned with morbidity and hospitalization rates. On 6 January the last maximum number of people injured was 132,5 thousand.

    Investors took a wait-and-see stance before big developments on Thursday and Friday. Note that on 14 January Joseph Biden will deliver a package of economic support initiatives and the season of quarterly bank reports will commence on 15 January. Consolidation is most likely in this regard during the current session.

    Economic news

    The December Core CPI will be published today. In November, the growth of the indicator is forecast to decline from 0.2% to 0.1% m/m. Despite substantial monetary and fiscal stimuli, inflationary pressures are expected to stay subdued in the short term. The second half of this year is expected to see a steady acceleration of inflation. The Sentiment Index of Freedom Finance plummeted to 58 out of 100. The measure represents the belief of industry players that the global economy will rebound in 2021. The possibility of mass vaccines alleviates fears over the harmful consequences of the coronavirus pandemic.

    Technical picture

    The S&P 500 is technically vulnerable to short-term consolidation. The day before, there was no effort to establish a correctional movement: buyers were solid. However, the RSI indicator remains close to the overbought zone, which still limits the growth prospects. Besides, in the area of ​​3825-3830 points, there is strong resistance in the form of the upper border of the equidistant channel. If a corrective movement develops, the first significant target for the S & P500 will be the level of 3700 points.

    Today Top Movers

    ‎Aprea Therapeutics Inc (APRE) gained over 18.13% at $6.06 in pre-market ‎trading on Wednesday after the company provided financial updates.

    ‎ ‎‎Plug Power Inc (PLUG) share price jumped 3.53% to $68.35 during the early morning ‎trading session on Wednesday after declaring a partnership with Renault, a French automaker, to become a leader in Hydrogen LCV.‎ ‎

    ‎Tonix Pharmaceuticals Holding Corp (TNXP), a biotechnology company, soared ‎about 30.81% ‎at $1.21 in pre-market trading Wednesday following the pricing $40M common stock offering.‎‎‎ ‎‎

    ‎Fluent Inc (FLNT) stock ascended 12.15% at $6.00 in the pre-‎market trading today.‎

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Exxon Mobil Corporation (XOM), upgrading the stock to “Overweight” and assigning a $56.0 price target, representing a potential upside of 16.97% from Tuesday’s close. 

    Sabra Health Care REIT Inc. (SBRA) has won the favor of Jefferies’s equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $20.0, suggesting 17.03% additional upside for the stock. 

    Omega Healthcare Investors Inc. (OHI) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $40.0. They changed their rating on OHI to Buy from Hold in a recently issued research note. 

    Earlier Wednesday KeyBanc reduced its rating on Take-Two Interactive Software Inc. (TTWO) stock to Sector Weight from Overweight. 

    Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for The PNC Financial Services Group Inc. (PNC) has been changed to Neutral from Overweight and the new price target is set at $167. 

    Analysts at HSBC downgraded DuPont de Nemours Inc. (DD)’s stock to Hold from Buy Wednesday.

    Latest Insider Activity

    Tyme Technologies Inc. (TYME) 10% Owner Demurjian Michael announced the sale of shares taking place on Jan 11 at $1.62 for some 20,000 shares. The total came to more than $32426.

    Hecla Mining Company (HL) Director Rogers Terry V sold on Jan 08 a total 48,103 shares at $6.25 on average. The insider’s sale generated proceeds of almost $0.28 million.

    Foot Locker Inc. (FL) 10% Owner Vesa Equity Investment S.a r.l declared the purchase of shares taking place on Jan 04 at $39.00 for some 8,581 shares. The transaction amount was around $0.33 million.

    DermTech Inc. (DMTK) 10% Owner RTW INVESTMENTS, LP bought on Jan 07 a total 3,087,216 shares at $29.50 on average. The purchase cost the insider an estimated $5.9 million.

    Important Earnings

    Top US earnings releases scheduled for today include Infosys Limited (NYSE: INFY). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.15 per share from revenues of $3.38B in the three-month period.

    Analysts expect Washington Federal Inc. (NASDAQ:WAFD) to report a net income (adjusted) of $0.42 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $115.53M.

    Volt Information Sciences Inc. (VOLT), due to announce earnings after the market closes today, is expected to report earnings of $0.01 per share from revenues of $205.5M recently concluded three-month period.