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Asian markets continue to gain despite delta concerns


TOKYO Asian shares gained Tuesday, boosted by a near-record rise on Wall Street, though the momentum began to fizzle out over worries about the economic fallout from surging coronavirus infections in the region.

Japans benchmark Nikkei 225 JP:NIK rose nearly 1% in morning trading while South Koreas Kospi KR:180721 gained 1.4%. Australias S&P/ASX 200 AU:XJO rose 0.3%. Hong Kongs Hang Seng HK:HSI added 1.6%, while the Shanghai Composite CN:SHCOMP was up 1%. Stocks dipped in Indonesia ID:JAKIDX, but advanced in Singapore SG:STI and Taiwan TW:Y9999.

Some parts of Asia have had slower vaccine rollouts than the U.S. and Europe and are at a greater risk for the more contagious delta variant.

Outbreaks in Asia Pacific have led to new containment measures, disrupting production and trade in a region that accounts for 37% of global merchandise exports, said Sara Johnson, executive director, global economics, IHS Markit. Asia Pacifics manufacturing hubs are the current hotspots for COVID-19.

She noted vaccination campaigns outside mainland China have been slow in Asia, hurting consumer spending, tourism, industrial production and exports. The IHS Markit manufacturing PMI surveys for July show deteriorating business conditions in Indonesia, Malaysia, Myanmar, Thailand and Vietnam. Cases of COVID-19 infections have been falling in India, Taiwan, and Indonesia, but rising in Japan, South Korea, Malaysia, the Philippines, and Vietnam.

Risk-on sentiments largely followed through with the positive lead from U.S. indices overnight. Some catchup growth may be on watch, considering that Asian markets have been diverging in performance from their Western counterparts since June. Ongoing Covid-19 risks continue to be prevalent, said Yeap Jun Rong, market strategist at IG in Singapore.

On Wall Street on Monday, the S&P 500 rose 0.9%, lifted by technology, communication and financial stocks, after spending much of the day within striking distance of its own record high. The benchmark index ended less than 0.2% below its all-time high set a week ago.

Pfizer PFE rose 2.5% after the Food & Drug Administrationgave full approval to its COVID-19 vaccine. The vaccine had been under an emergency use authorization since December, but the full approval could convince some reluctant Americans to now get their shot and will likely give local authorities the legal backing to impose mandates.

BioNTech BNTX, a German drug manufacturer which developed the vaccine with Pfizer, jumped 9.6% on the news. Moderna MRNA, which developed a similar vaccine that uses the same technology, vaulted 7.5%.

The prospects of more vaccinations and signs of some easing in the growth rate of coronavirus cases, helped put investors in a buying mood, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Hopefully, the FDA approval increases the uptake of the vaccine, said Samana. The markets gains shouldnt be viewed as anything other than a vaccine rally.

The S&P 500 SPX rose 37.86 points to 4,479.53. The Dow Jones Industrial Average DJIA added 215.63 points, or 0.6%, to 35,335.71. The Nasdaq COMP gained 227.99 points, or 1.5%, to 14,942.65, eclipsing its last all-time high set early this month.

Investors will be looking to the Federal Reserve as the Kansas City Feds annual conference in Jackson Hole, Wyoming starts later this week. It will likely provide Wall Street with more insight into what the Fed may do about inflation.

In energy trading, benchmark U.S. crude CLV21 rose 11 cents to $65.75 a barrel. Brent crude BRNV21, the international standard, added 15 cents to $68.90 a barrel.

In currency trading, the U.S. dollar USDJPY edged up to 109.76 Japanese yen from 109.69 yen.

Top 5 Value Stocks To Watch Right Now

Marathon Digital Holdings (NASDAQ:MARA), the U.S. cryptocurrency mining company, recently updated investors about its operations and holdings in Bitcoin (CCC:BTC-USD). That might lead to a rise in MARA stock over the long term, especially since its future is pretty bright now.

Source: Shutterstock

On Sept. 3, the company indicated it was now producing Bitcoin at a rate of 469.6 BTC per month. Moreover, the company has accumulated 6,695 BTC tokens. So at the Sept. 15 price of $48,207 per BTC token, their holdings are now worth $322.75 million. That works out to 8.7% of its $3.691 billion market value.

Top 5 Value Stocks To Watch Right Now: Aurinia Pharmaceuticals Inc(AUPH)

Aurinia Pharmaceuticals Inc. is a Canada-based clinical-stage biopharmaceutical company operating in the field of nephrology and autoimmunity. The Company’s primary business is the development of a therapeutic drug to treat autoimmune diseases, in particular lupus nephritis (LN). It is focused on the development of its lead compound voclosporin, a therapeutic immunomodulating drug candidate, which is a second-generation calcineurin inhibitors (CNI) to treat patients afflicted with LN. Voclosporin is an oral drug, administered twice daily. It is structurally similar to cyclosporine A (CsA), but is chemically modified on the amino acid-1 residue. It has completed two Phase III clinical studies in patients with moderate to severe psoriasis. It has completed Phase IIb clinical trial, which is a randomized, controlled, double-blind study comparing the efficacy of voclosporin as a component of multi-targeted therapy against placebo in achieving remission in patients with active LN. Advisors’ Opinion:

  • [By Cory Renauer]

    Shares of Aurinia Pharmaceuticals Inc.(NASDAQ:AUPH),a biotechnology company developing an experimental new lupus therapy, rose 16.8% in September, according to data from S&P Global Market Intelligence. Analyst attention following an important step forward for the company’s lead candidate pushed the stock higher.

  • [By Logan Wallace]

    Get a free copy of the Zacks research report on Aurinia Pharmaceuticals (AUPH)

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Top 5 Value Stocks To Watch Right Now: HEXO Corp.(HEXO)

HEXO Corp., through its subsidiaries, produces, markets, and sells cannabis in Canada. It offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. The company offers its adult-use and medical products under the HEXO brand name. Additionally, it offers cannabis beverages under the Little Victory, House of Terpenes, Mollo, Veryvell, and XMG brand; and cannabis products under Original Stash and Up brand names. The company was formerly known as The Hydropothecary Corporation and changes its name to HEXO Corp. in August 2018. HEXO Corp. was founded in 2013 and is headquartered in Kanata, Canada.

Advisors’ Opinion:

  • [By Rich Smith (TMFDitty)]

    Marijuana stocks slipped in Wednesday afternoon trading. Shares of Sundial Growers (NASDAQ:SNDL) are trading down 2.8% as of 2:35 p.m. EDT, followed by Aurora Cannabis (NASDAQ:ACB) with a 3.2% loss, Hexo (NASDAQ:HEXO)down 3.8%, and Canopy Growth (NASDAQ:CGC) bringing up the rear with a 4.1% decline.

  • [By Eric Volkman (TMFVolkman)]

    Investors weren’t catching Hexo’s (NASDAQ:HEXO) buzz on Thursday. The marijuana stock was down by over 6% in late afternoon trading, in an apparent reaction to the appointment of a new company executive.

  • [By Eric Volkman (TMFVolkman)]

    On Thursday, Canadian marijuana company HEXO (NYSE:HEXO) announced yet another flotation of new securities to bolster its finances. The company’s stock price soon went in the expected direction — down, that is, by nearly 6% on the day.

  • [By Todd Campbell]

    HEXO(NYSEMKT:HEXO)is targeting 150,000 kilograms of cannabis production someday. That doesn’t put it in the same weight class as marijuana market leaderCanopy Growth (NYSE:CGC), but it does put it in contention for winning significant sales in Canada’s emerging recreational adult-use marijuana market. On Thursday morning, the company reported fiscal second-quarter financial results, offering investors their first glimpse into how adult-use sales are impacting its business.Here are three things marijuana stock investors should know about HEXO before buying shares.

Top 5 Value Stocks To Watch Right Now: Equitable Holdings, Inc.(EQH)

Equitable Holdings, Inc., together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals. The Group Retirement segment provides tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities, and not-for-profit entities, as well as small and medium-sized businesses. The Investment Management and Research segment offers diversified investment management, research, and related solutions to a range of clients through institutional, retail, and private wealth management channels; and distributes its institutional research products and solutions. The Protection Solutions segment provides a range of variable universal life, indexed universal life, and term life products to help affluent and high net worth individuals, as well as small and medium-sized business owners; and a suite of life, short- and long-term disability, dental, and vision insurance products to small and medium-size businesses. The company was formerly known as AXA Equitable Holdings, Inc. and changed its name to Equitable Holdings, Inc. in January 2020. Equitable Holdings, Inc. was founded in 1859 and is based in New York, New York.

Advisors’ Opinion:

  • [By Shane Hupp]

    Shares of AXA Equitable Holdings Inc (NYSE:EQH) have received an average rating of “Hold” from the fifteen research firms that are currently covering the company, reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $25.00.

  • [By Ethan Ryder]

    Get a free copy of the Zacks research report on AXA Equitable (EQH)

    For more information about research offerings from Zacks Investment Research, visit

  • [By Joseph Griffin]

    AXA Equitable Holdings Inc (NYSE:EQH) has been given an average recommendation of “Buy” by the twelve analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.45.

  • [By Motley Fool Transcribing]

    AXA Equitable Holdings, Inc. (NYSE:EQH) Q2 2018 Earnings Conference CallAug. 14, 2018 8:00 a.m. ET

    Prepared Remarks Questions and Answers Call Participants
    Prepared Remarks:


Top 5 Value Stocks To Watch Right Now: TechTarget, Inc.(TTGT)

TechTarget, Inc. provides specialized online content and marketing services for buyers and sellers of corporate information technology (IT) products and services in the United States and internationally. It offers customized marketing programs, including data analytics-driven intelligence solutions, demand generation, and brand advertising, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases. The companys products include IT deal alert, core online, demand solutions, brand solutions, and custom content creation, which are provided through online, as well as operates face-to-face events. It also operates an integrated content platform that consists of a network of approximately 150 Websites that focus on media groups, such as security, networking, storage, data center and virtualization technologies, chief information officer/IT strategy, business applications and analytics, application architecture and development, channels, and Internet content sites. In addition, the company enables registered members to conduct their pre-purchase research by accessing vendor content across its network of websites. TechTarget, Inc. was founded in 1999 and is headquartered in Newton, Massachusetts.

Advisors’ Opinion:

  • [By Rich Duprey, John Bromels, and Anders Bylund]

    With that kind of mind-set, see why these three Motley Fool contributors believeTechTarget (NASDAQ:TTGT), Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B), and Home Depot (NYSE:HD) are stocks you will want to own for 20 years or more.

  • [By Motley Fool Transcribers]

    TechTarget Inc (NASDAQ:TTGT)Q42018 Earnings Conference CallFeb. 06, 2019, 5:00 p.m. ET

    Prepared Remarks Questions and Answers Call Participants
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  • [By Max Byerly]

    TechTarget (NASDAQ:TTGT) and DHI Group (NYSE:DHX) are both small-cap computer and technology companies, but which is the superior investment? We will compare the two companies based on the strength of their risk, institutional ownership, valuation, earnings, analyst recommendations, dividends and profitability.

Top 5 Value Stocks To Watch Right Now: Oatly Group AB(OTLY)

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, and frozen desserts and novelties; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oatmilk in original and chocolate flavors; and cooking products, including cooking creams, cr篓me fraiche products, whipping creams, vanilla custards, and spreads in a variety of flavors. The company was formerly known as Havre Global AB and changed its name to Oatly Group AB in March 2021. The company was founded in 1994 and is headquartered in Malm露, Sweden.

Advisors’ Opinion:

  • [By ]

    Oat milk and vegan food producer Oatly Group  (OTLY) – Get Report on Monday reported second-quarter results that missed estimates but forecast full-year revenue that beat expectations.

Sanofi (SNY) Skin Disorder Drug Misses Goal in Phase III Study


Sanofi (SNY Quick QuoteSNY ) announced that a phase III study evaluating its BTK inhibitor, rilzabrutinib, to treat pemphigus, a rare skin disorder that causes lesions in the skin and mucous membranes, failed to meet its primary or key secondary endpoints.

Data from the study (PEGASUS) showed that the proportion of patients meeting the primary endpoint (complete remission from weeks 29 to 37 with minimal doses of corticosteroids) in the rilzabrutinib arm was not significantly different from placebo. In the study, rilzabrutinib’s safety profile was similar to the previous study results. At present, systemic corticosteroid is the standard-of-care treatment for this potentially life-threatening disorder.

So far this year, Sanofi’s shares have risen 3.2% compared with the industry’s 14.1% increase.

Zacks Investment Research
Image Source: Zacks Investment Research

Rilzabrutinib was added to Sanofi’s pipeline with last year’s acquisition of Principia Biopharma and is being developed for some immune-mediated diseases.

A phase III study is also ongoing on rilzabrutinib for immune thrombocytopenia (ITP), a blood disorder that causes a high risk of bleeding events. The candidate is also in a phase II study for IgG4-Related Disease (IgG4-RD), a rheumatologic disease driven by chronic inflammation, immune cell infiltration, and fibrosis within organs. Sanofi plans to begin phase II studies in asthma, atopic dermatitis, chronic spontaneous urticaria, and warm autoimmune hemolytic anemia later this year.

The Principia deal also added another BTK inhibitor, tolebrutinib to Sanofi’s pipeline, which isin late-stage development for relapsing multiple sclerosis.

Sanofi has significantly stepped up its acquisition and alliance activity over the past few years. On Wednesday, Sep 7, it announced a definitive agreement to ac! quire New York-based biopharma company, Kadmon Holdings (KDMN Quick QuoteKDMN ) for $1.9 billion. The acquisition, if successfully closed, will add Rezurock (belumosudil), Kadmon’s newly FDA-approved treatment for chronic graft-versus-host disease (cGVHD), to Sanofi’s portfolio.

In August, Sanofi announced a definitive agreement to acquire its current partner for some pipeline candidates, Translate Bio (TBIO Quick QuoteTBIO ) for approximately $3.2 billion. The acquisition, if successfully closed, will allow Sanofi to leverage Translate Bio’s mRNA technology platform to develop therapeutics and vaccines and also accelerate the development of their existing partnered pipeline programs

Sanofi currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A better-ranked stock from the biotech sector is Regeneron (REGN Quick QuoteREGN ) , which sports a Zacks Rank #1.

Regeneron’s earnings per share estimates have moved north from $49.53 to $54.15 for 2021 and from $41.35 to $44.11 for 2022 in the past 30 days. The stock has risen 38.5% so far this year.

Garmin Ltd. (NASDAQ:GRMN) Receives Average Recommendation of “Buy” from Analysts

Garmin Ltd. (NASDAQ:GRMN) has received an average rating of “Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $153.14.

Several analysts recently commented on the company. Morgan Stanley boosted their price target on Garmin from $138.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29th. Bank of America lowered Garmin from a “buy” rating to a “neutral” rating and set a $155.00 price target on the stock. in a research note on Tuesday, June 22nd. Zacks Investment Research lowered Garmin from a “buy” rating to a “hold” rating and set a $144.00 price target on the stock. in a research note on Monday, May 3rd. Credit Suisse Group boosted their price target on Garmin from $129.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, April 29th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $198.00 price objective (up previously from $174.00) on shares of Garmin in a research note on Wednesday, August 4th.

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GRMN opened at $173.43 on Wednesday. The company has a market capitalization of $33.35 billion, a PE ratio of 28.25, a PEG ratio of 4.47 and a beta of 1.00. Garmin has a 1 year low of $91.84 and a 1 year high of $173.57. The company’s 50 day moving average price is $154.07.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, July 28th. The scientific and technical instruments company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.45. Garmin had a return on equity of 21.68% and a net margin of 24.36%. As a group, sell-side analysts forecast that Garmin will post 5.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Monday, March 14th. Garmin’s dividend payout ratio is currently 52.14%.

In other news, CEO Clifton A. Pemble sold 2,333 shares of the company’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $165.00, for a total transaction of $384,945.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan Burrell sold 150,000 shares of the company’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $142.06, for a total value of $21,309,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 236,975 shares of company stock worth $33,769,718. Insiders own 21.39% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carolinas Wealth Consulting LLC increased its holdings in Garmin by 123.5% in the second quarter. Carolinas Wealth Consulting LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Harbour Investments Inc. bought a new stake in Garmin in the first quarter valued at about $27,000. Arkadios Wealth Advisors increased its holdings in Garmin by 74.8% in the first quarter. Arkadios Wealth Advisors now owns 215 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 92 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Garmin in the first quarter valued at about $30,000. Finally, E Fund Management Co. Ltd. bought a new stake in Garmin in the first quarter valued at about $35,000. Institutional investors and hedge funds own 49.38% of the company’s stock.

About Garmin

Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following five segments: Marine, Outdoor, Fitness, Auto and Aviation. The Marine segment manufactures and offers recreational marine electronics such as cartography, Sounders, Radar, Autopilot Systems and Sailing.

See Also: What is a recession?

Analyst Recommendations for Garmin (NASDAQ:GRMN)

Put Another One in the Win Column for fuboTV Stock


After fuboTV (NYSE:FUBO) reported second-quarter earnings this month, I wrote in this space that I continued to have high hopes for FUBO stock.

Flat-screen TV set displaying logo of FuboTV, an American streaming television service that focuses primarily on channels that distribute live sportsFlat-screen TV set displaying logo of FuboTV, an American streaming television service that focuses primarily on channels that distribute live sports

Source: monticello /

The New York-based streaming television service was coming off an excellent earnings report, but I was more impressed with the company’s plan to grow its sportsbook offerings.

“The company needs to continue expanding its sportsbook footprint across the U.S.,” I wrote on Aug. 13. “If it does so, then the sky’s the limit for this growth stock.”

So, it comes as no surprise that FUBO stock saw a nice pop recently when the company made an announcement just to that end.

Overall, FUBO stock is now up almost 17% since the beginning of June. And as Wall Street barrels closer to the fourth quarter, I think it’s just getting started.

FuboTV’s Latest Announcement

The reason why fuboTV jumped by nearly 6% on Aug. 31 was its newest sportsbook revelation. FuboTV said the state of Iowa approved a license for Fubo Gaming to offer advance deposit online wagering in the state. Fubo Gaming, of course, is a subsidiary of fuboTV.

The license was granted in partnership with Casino Queen, which operates a riverboat casino in Marquette, Iowa. Fubo Gaming President Scott Butera explained:

“As we enter the mobile sports betting market, we couldn’t be more excited to kick off this journey in Iowa. We thank the IRGC and Casino Queen for being the perfect partner in helping us cross the goal line and bring this sportsbook to the passionate sports fans of Iowa  We believe Fubo Sportsbook will provide an elevated sports entertainment experience that will bring increased interaction and engagement between sports viewing and betting.”

Collectively, Iowa marks the fifth state where fuboTV has market access agreements for its fledging sportsbook, joining Arizona, Pennsylvania, Indiana and New Jersey.

The Sportsbook

Moreover, what makes FUBO stock particularly interesting is the company’s plans for its sportsbook.

As a streaming entertainment provider, fuboTV has an emphasis on live sports. That includes streaming international soccer, tennis, golf and major American sports leagues. In fact, it streams more than 50,000 live sporting events every year.

Also, its audience is growing rapidly. According to the company’s second-quarter earnings report, fuboTV added 91,291 net new users, ending the quarter with 681,721 subscribers. Those users watched 245 million hours of content, which represents a 148% growth from the previous year.

Additionally, the company made $130.9 million in revenue, which was an increase of 196% from the previous year.

FuboTV says it expects to reach 810,000 to 820,000 subscribers by the end of the third quarter, and add another 100,000 to that by the end of 2021.

Sure, there are other streaming services out there that are bigger than fuboTV. But what they can’t offer is the ability to operate a sportsbook on the sporting events it streams.

That said, FuboTV can.

In fact, it plans to fully integrate its betting platform with its live-streaming service. That will give users what the company calls “a seamless viewing and wagering experience.”

Just imagine: FuboTV viewers will be able to use the yet-to-be launched Fubo Sportsbook to review odds and place bets on the same screen where they’re watching the game.

As of today, the sports wagering platform would only be available in the five states where fuboTV has licenses. But as the company expands its wagering footprint, the company should see an instant impact on its revenue.

The Bottom Line for FUBO Stock

Right now, FUBO stock trades for $28.38 per share, which is about half of the peak of its 52-week range. But when the sportsbook goes on line later this year, current prices may be seen as a bargain.

FUBO stock has a “B” rating in my Portfolio Grader right now with a buy recommendation.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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