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- 06 Feb - NH - Morning Newsletter (with survey at top and bottom)
06 Feb - NH - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Start the Week
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Good Morning!Futures for US stock indices are falling sharply on Monday, while investors expect further tightening of the monetary policy of the US Federal Reserve System (FRS), follows from the trading data and the analyst's commentary.Futures for the Dow Jones Industrial Index (DJIA) fell by 0.8%, to 33691 points, futures for the NASDAQ high-tech companies index dropped by 1.22%, to 12470.5 points and the S&P 500 broad market index by 0.98%, to 4107 points.After the release of data on the labor market in the country on Friday, traders began to expect that the US Federal Reserve will continue to tighten monetary policy.Thus, unemployment in the US unexpectedly fell in January to 3.4% from 3.5% in December, and the number of people employed in non-agricultural sectors of the economy increased by 517,000. Analysts, on the contrary, expected the growth rate to 3.6%.
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Today Top Movers
Faraday Future Intelligent Electric Inc. (FFIE) stock soared 32.41% to $1.43 in the pre-market trading after announcing $135 million in convertible secured notes financing commitments.
MDxHealth SA (NASDAQ: MDXH) shares are trading up 14.91% at $4.47 at the time of writing. The company recently announced pricing of offering of ADSs in the United States.
Catalent Inc. (CTLT) grew over 24.12% at $69.57 in pre-market trading today following a report that Danaher (DHR) has expressed interest in taking over the contract drug maker.
Elys Game Technology Corp. (ELYS), a Gambling company, rose about 31.31% at $1.3 in pre-market trading Monday following an SEC Form 8-K filing.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on Spotify Technology S.A. (SPOT), upgrading the stock to Overweight and assigning a $180 price target, representing potential upside of 48.55% from Friday's close.
Essential Utilities Inc (WTRG) has won the favor of UBS' equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $55, suggesting 17.27% additional upside for the stock.
Splunk Inc. (SPLK) received an upgrade from analysts at Keybanc, who also set their one-year price target on the stock to $130. They changed their rating on SPLK to Overweight from Sector Weight in a recently issued research note.
Earlier Monday RBC Capital reduced its rating on Vale S.A. (VALE) stock to Sector Perform from Outperform and assigned the price target to $15.
Telsey Advisory Group analysts reduced their investment ratings, saying in research reports covered by the media that its rating for RH (RH) has been changed to Market Perform from Outperform and the new price target is set at $330.
Analysts at Edward Jones downgraded International Business Machines Corporation (IBM)'s stock to Hold from Buy Monday.
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Latest Insider Activity
Doximity Inc. (DOCS) Chief Financial Officer Bryson Anna announced the sale of shares taking place on Feb 02 at $40.00 for some 25,000 shares. The total came to more than $1.0 million.
Ares Management Corporation (ARES) Co-Founder & Exec. Chairman RESSLER ANTONY P sold on Feb 03 a total 94,211 shares at $85.13 on average. The insider’s sale generated proceeds of almost $8.02 million.
New York Community Bancorp Inc. (NYCB) Director Lux Marshall declared the purchase of shares taking place on Feb 03 at $10.05 for some 5,000 shares. The transaction amount was around $50275.0.
Phillips 66 (PSX) Director HAYES GREGORY bought on Feb 02 a total 10,250 shares at $97.75 on average. The purchase cost the insider an estimated $1.0 million.
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Important Earnings
Top US earnings releases scheduled for today include ON Semiconductor Corporation (NASDAQ: ON). It will announce its Dec 2022 financial results. The company is expected to report earnings of $1.27 per share from revenues of $2.08B in the three-month period.
Analysts expect Tyson Foods Inc. (NYSE: TSN) to report a net income (adjusted) of $1.36 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $13.52B.
Neurocrine Biosciences Inc. (NBIX), due to announce earnings before the market opens today, is expected to report earnings of $1.14 per share from revenues of $409.09M 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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