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- 01 Mar - NH - Morning Newsletter (with survey at top and bottom)
01 Mar - NH - Morning Newsletter (with survey at top and bottom)
Early Risers: Stay Ahead with Market Insights
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Good Morning!On Wednesday, U.S. stock futures rose as traders started the new month with an optimistic outlook.Futures on the S&P 500 were up 9 points, or 0.2%, at 3985.A gain of 54 points, or 0.2%, was recorded in futures for the Dow Jones Industrial Average, currently trading at 32736.Futures for the Nasdaq 100 index, which advanced 42 points, or 0.3%, to 12114Tuesday saw the Dow Jones Industrial Average decline 232 points, or 0.71%, to 32657, the S&P 500 decline 12 points, or 0.3%, to 3970, and the Nasdaq Composite decline 11 points, or 0.1%, to 11456. In February, the Dow Jones Industrial Average fell 4.2%, and it is now down 1.5% for the year 2023.There have been several factors behind the rise in risk appetite, including a fresh month and news that China's factory activity is expanding at its fastest pace.As a result of the optimism, U.S. index futures bounced back after a tough February, when fears that central banks would keep raising interest rates led to 2.6% decline in the S&P 500 and the highest yields on 2-year Treasury bonds since 2008.
Is Taiwan a Chinese Red Herring? The Real Threat to the U.S.
As tensions mount over Taiwan, China is engaging in a stealth war against the U.S. that could cripple our military production. China controls up to 90% of the critical elements needed to secure our national defense. But new mineral discoveries in America could end our dependence on China. One exploration company is well-positioned to advance U.S. national security interests.
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Today Top Movers
Reata Pharmaceuticals Inc. (RETA) stock soared 159.87% to $81.0 in the pre-market trading. The company announced FDA approval of SKYCLARYS™, the first and only drug indicated for patients with Friedreich’s Ataxia.
B&G Foods Inc. (NYSE: BGS) shares are trading up 16.02% at $14.7 at the time of writing following the release of financial results for fourth quarter and full year 2022.
Sarepta Therapeutics Inc. (SRPT) grew over 19.95% at $146.5 in pre-market trading today after announcing inducement grants under Nasdaq Listing Rule 5635(c)(4)
Duolingo Inc. (DUOL), a Software - Application company, rose about 10.13% at $99.99 in pre-market trading Wednesday. The company reported 62% DAU growth; record Bookings and revenue in fourth quarter and full year 2022.
Five Opportunities...
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Top Upgrades & Downgrades
Exane BNP Paribas turned bullish on TransUnion (TRU), upgrading the stock to Outperform and assigning a $80 price target, representing potential upside of 22.23% from Tuesday's close.
Philip Morris International Inc. (PM) has won the favor of UBS's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $116, suggesting 19.24% additional upside for the stock.
Sarepta Therapeutics Inc. (SRPT) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $187. They changed their rating on SRPT to Overweight from Equal-Weight in a recently issued research note.
Earlier Wednesday BMO Capital reduced its rating on Builders FirstSource Inc. (BLDR) stock to Market Perform from Outperform and assigned the price target to $92.
Bernstein analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Spirit AeroSystems Holdings Inc. (SPR) has been changed to Market Perform from Outperform and the new price target is set at $38.
Analysts at JonesTrading downgraded New York Mortgage Trust Inc. (NYMT)'s stock to Hold from Buy Wednesday.
500% Upside Potential For This Little-Known Biotech?
There's a little-known Biotech that's recently bounced off its 52-week low of $1.50. And with a $9.00 target set by a top analyst at Maxim Group, we could be looking at a potential upside of 500%.
Plus, with a float of less than 7.3M shares available, this could be one company to watch very closely.
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Latest Insider Activity
Healthcare Services Group Inc. (HCSG) Principal Accounting Officer Brophy Andrew M announced the sale of shares taking place on Feb 24 at $13.41 for some 951 shares. The total came to more than $12753.0.
Core & Main Inc. (CNM) General Counsel and Secretary Whittenburg Mark G sold on Feb 24 a total 24,793 shares at $23.04 on average. The insider’s sale generated proceeds of almost $0.57 million.
WillScot Mobile Mini Holdings Corp. (WSC) Chief Executive Officer Soultz Bradley Lee declared the purchase of shares taking place on Feb 27 at $50.47 for some 5,000 shares. The transaction amount was around $0.25 million.
Wolverine World Wide Inc. (WWW) Director Long Nicholas T. bought on Feb 24 a total 10,000 shares at $16.13 on average. The purchase cost the insider an estimated $161,300.
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Important Earnings
Top US earnings releases scheduled for today include Petroleo Brasileiro S.A. - Petrobras (NYSE: PBR). It will announce its Dec 2022 financial results. The company is expected to report earnings of $1.5 per share from revenues of $29.95B in the three-month period.
Analysts expect Amarin Corporation plc (NASDAQ: AMRN) to report a net income (adjusted) of $0 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $87.32M.
Globalstar Inc. (GSAT), due to announce earnings before the market opens today, is expected to report earnings of -$0.01 per share from revenues of $38.75M recently concluded three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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