On December 29, the American stock indices closed in the red. The S&P 500 at the beginning of the session renewed its all-time high, but by its close it dropped 0.22% to 3727 points, the Dow Jones also lost 0.22%, the NASDAQ fell 0.38%. The news background remained calm, but investors preferred to fix some of their positions. The healthcare sector took the lead in growth with a result of + 0.44%, while the real estate sector corrected by 0.71%.
Company news
Fulgent Genetics (FLGT: + 8.7%) will provide COVID-19 diagnostic tests to New York City students and educational workers.
Activist investor Third Point sent a letter to Intel management (INTC: + 4.9%) urging them to consider changes to the company’s strategy.
Arcturus Therapeutics (ARCT: -54.2%) has published the results of the first phase of clinical trials of a COVID-19 vaccine, which turned out to be weak.
Today, world stock exchanges are showing mostly positive dynamics. Investors are focusing on the prospects for increasing the volume of direct payments to Americans. Senate Majority Leader Mitch McConnell has blocked an attempt to vote on raising the benefit from $ 600 to $ 2,000, so the timing of the discussion remains uncertain. A number of Republicans do not support the president’s initiative to increase the lump sum, pointing to the problem of the budget deficit and high public debt, which hinders the increase in government spending. In the meantime, Americans will start receiving checks for $ 600 today as part of the previously approved economic stimulus program.
On the front of the fight against COVID-19 in the United States, there is no significant positive so far. Colorado has recorded the first patient with a British modification of the coronavirus. The increase in incidence has slowed slightly, but a new outbreak is forecast after the holidays. The number of hospitalized in the United States already exceeds 124 thousand, and the trend remains negative. The vaccination campaign is very slow: so far only 2.13 million have been vaccinated. As Joseph Biden noted, if the process is not accelerated, it may take years, not months, to complete vaccination. This is a significant risk for stocks, but for now investors tend to believe that the acquisition of mass immunity can be accelerated.
Today Top Movers
AstraZeneca PLC ADR (AZN), a Drug Manufacturers company, soared about 2.38% at $51.09 in pre-market trading today following its Covid-19 vaccine approval in the U.K.
Guardion Health Sciences Inc (GHSI) share price jumped 7.029% to $0.41 during early morning trading session on Wednesday following the declaration of appointment of Bret Scholtes, as its President and Chief Executive Officer.
NXT-ID Inc (NXTD) stock ascended 9.16% at $1.43 in the pre-market trading today.
American Battery Metals Corp USD (ABML) gained over 1.43% at $1.42 in pre-market trading on Wednesday.
Top Upgrades & Downgrades
AlphaValue turned bullish on AstraZeneca PLC ADR (AZN), upgrading the stock to “Add”.
Baird turned bullish on Caterpillar Inc. (NYSE: CAT), reiterating the stock at “Outperform” but lifting the target from $206 to $220, representing potential upside of 24.54% from Tuesday’s close.
Daiwa turned bullish on Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) , initiating the stock at “Outperform” and assigning the target to $250, representing potential upside of 7.07% from Tuesday’s close.
Latest Insider Activity
Lemonade Inc. (LMND) Chief Insurance Officer Peters John Sheldon announced the sale of shares taking place on Dec 28 at $118.49 for some 5,000 shares. The total came to more than $0.59 million.
Pinterest Inc. (PINS) Chairman, President, CEO, Co-F Silbermann Benjamin sold on Dec 24 a total 105,000 shares at $71.55 on average. The insider’s sale generated proceeds of almost $7.51 million.
Cellectar Biosciences Inc. (CLRB) Chief Business Officer Longcor Jarrod declared the purchase of shares taking place on Dec 28 at $1.35 for some 29,630 shares. The transaction amount was around $40001.
TRACON Pharmaceuticals Inc. (TCON) 10% Owner Opaleye Management Inc. bought on Dec 22 a total 2,293,371 shares at $8.06 on average. The purchase cost the insider an estimated $4.0 million.
