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      Early Morning Vibes: 4 Stocks We Like for Tuesday Trading - Stocks Telegraph

      By Shan Zee

      Published on

      January 5, 2021

      12:47 PM UTC

      Early Morning Vibes: 4 Stocks We Like for Tuesday Trading - Stocks Telegraph

      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.

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