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- 08 Mar - NH - Morning Newsletter (with survey at top and bottom)
08 Mar - NH - Morning Newsletter (with survey at top and bottom)
Early Bird Stock Picks: 4 Must-Watch Stocks
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Good Morning!According to trading data, US stock index futures are recovering slightly on Wednesday after falling sharply the previous day.Futures for the Dow Jones Industrial Index (DJIA) are growing by 0.05%, to 32876 points. Futures for the NASDAQ high-tech companies index rose by 0.08%, to 12177.75 points and S&P 500 broad market index was also up 0.02%, to 3991 points.The US indices' futures fell by more than 1% following Jerome Powell's speech on Tuesday, where the Fed chief announced that it would continue to raise the discount rate to combat inflation.Wednesday will also see the release of a number of statistics.In particular, the analytical company Automatic Data Processing (ADP) will publish data on changes in the number of jobs in US private companies in February. It is expected that the indicator increased by 200 thousand after January's increase of 106 thousand.Experts also believe that the US trade deficit in January widened to $68.9 billion from $67.4 billion in December.
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Today Top Movers
Rigel Pharmaceuticals Inc. (RIGL) stock soared 38.78% to $2.04 in the pre-market trading after reporting fourth quarter and full year 2022 financial results.
Freight Technologies Inc. (NASDAQ: FRGT) shares are trading up 29.13% at $0.3099 at the time of writing following the release of strong revenue growth: YTD revenue reached $25.9 million, up 20.3% from prior year.
Fresh Tracks Therapeutics Inc. (FRTX) grew over 54.1% at $2.82 in pre-market trading today. The company announced positive topline results from single and multiple ascending dose parts of phase 1 study of Oral DYRK1A Inhibitor FRTX-02.
Maxeon Solar Technologies Ltd. (MAXN), a Solar company, rose about 15.68% at $21.69 in pre-market trading Wednesday after releasing Q4 and fiscal year 2022 financial results.
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Top Upgrades & Downgrades
JP Morgan turned bullish on AGNC Investment Corp. (AGNC), upgrading the stock to Overweight and assigning a $12.5 price target, representing potential upside of 18.04% from Tuesday's close.
CMS Energy Corporation (CMS) has won the favor of BofA's equity research team. The firm upgraded the shares from Neutral to Buy.
Atlantica Sustainable Infrastructure plc (AY) received an upgrade from analysts at BofA. They changed their rating on AY to Buy from Neutral in a recently issued research note.
Earlier Wednesday Wells Fargo reduced its rating on Edwards Lifesciences Corporation (EW) stock to Equal-Weight from Overweight and assigned the price target to $78.
Berenberg analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Tesla Inc. (TSLA) has been changed to Hold from Buy and the new price target is set at $210.
Analysts at B of A Securities downgraded Cara Therapeutics Inc. (CARA)'s stock to Underperform from Neutral Wednesday.
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Latest Insider Activity
Maxar Technologies Inc. (MAXR) President and CEO JABLONSKY DANIEL L announced the sale of shares taking place on Mar 06 at $51.28 for some 17,500 shares. The total came to more than $0.9 million.
Jazz Pharmaceuticals plc (JAZZ) SVP, Technical Operations Larkin Finbar sold on Mar 07 a total 2,075 shares at $140.76 on average. The insider’s sale generated proceeds of almost $0.29 million.
American Homes 4 Rent (AMH) Director BENHAM DOUGLAS N declared the purchase of shares taking place on Mar 07 at $24.07 for some 1,100 shares. The transaction amount was around $26473.0.
Occidental Petroleum Corporation (OXY) 10% Owner BERKSHIRE HATHAWAY INC bought on Mar 07 a total 1,760,686 shares at $61.01 on average. The purchase cost the insider an estimated $107.42 million.
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Important Earnings
Top US earnings releases scheduled for today include Gol Linhas Aereas Inteligentes S.A. (NYSE: GOL). It will announce its Dec 2022 financial results. The company is expected to report earnings of -$0.17 per share from revenues of $919.32M in the three-month period.
Analysts expect Campbell Soup Company (NYSE: CPB) to report a net income (adjusted) of $0.74 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2023 is predicted to come in at $2.44B.
Life Time Group Holdings Inc. (LTH), due to announce earnings before the market opens today, is expected to report earnings of $0.05 per share from revenues of $472.81M 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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