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- 13 Mar - NH - Morning Newsletter (with survey at top and bottom)
13 Mar - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks to Watch: Market Insights for Early Risers
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Good Morning!Trading data indicate that US stock index futures do not show single-valued dynamics on Monday. Markets continue to monitor the situation with the bankruptcy of a number of US banks in the context of an increase in interest rates at the US Federal Reserve System (FRS).The Dow Jones Industrial Average (DJIA) rose 0.11%, to 32,200 points, while the NASDAQ high-tech index soared by 1.1%, to 12,100.5 points, and the S&P 500 rose 0.47%, to 3,915.5 points.Markets around the world are generally volatile at the beginning of the week due to the situation with US banks. California regulators closed Silicon Valley Bank (SVB) on March 10, the largest bank failure in the US since the 2008 financial crisis. The collapse of the SVB turned out to be associated with an increase in the Fed's key rate, which led to the depreciation of assets on the balance sheets of many financial institutions. Moreover, Silvergate, a crypto-focused bank, was shut down on March 8; Signature Bank, a similar New York-based bank, was shut down on March 12.
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Today Top Movers
Provention Bio Inc. (PRVB) stock soared 260.0% to $24.12 in the pre-market trading after it agreed to be acquired by France’s Sanofi for $25 a share, or about $2.9 billion.
ObsEva SA (NASDAQ: OBSV) shares are trading up 12.17% at $0.1447 at the time of writing. The company announced an update towards its strategic reorganization to consolidate operations in Switzerland.
Science 37 Holdings Inc. (SNCE) grew over 30.41% at $0.3118 in pre-market trading today. SNCE recently reported the granting of inducement equity awards under the Science 37 Holdings, Inc. 2022 Employment Inducement Incentive Award Plan.
Calliditas Therapeutics AB (publ) (CALT), a Biotechnology company, rose about 30.24% at $21.92 in pre-market trading Monday after announcing primary endpoint successfully met in phase 3 NefIgArd trial evaluating Nefecon® in IgA Nephropathy.
Five Opportunities...
One of these 5 stocks has produced 18 positive returns for its shareholders over the past two decades alone. Another is experiencing a current supply-demand imbalance in the market which has contributed to high prices - which is great for investors... See for yourself...
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Top Upgrades & Downgrades
TD Cowen turned bullish on Moderna Inc. (MRNA), upgrading the stock to Outperform and assigning a $180 price target, representing potential upside of 30.16% from Friday's close.
Amgen Inc. (AMGN) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $265, suggesting 16.29% additional upside for the stock.
Eli Lilly and Company (LLY) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $375. They changed their rating on LLY to Overweight from Equal-Weight in a recently issued research note.
Earlier Monday UBS reduced its rating on United Natural Foods Inc. (UNFI) stock to Neutral from Buy and assigned the price target to $32.
Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Merck & Co. Inc. (MRK) has been changed to Equal-Weight from Overweight and the new price target is set at $115.
Analysts at Wolfe Research downgraded Tesla Inc. (TSLA)'s stock to Peer Perform from Outperform Monday.
Not Three or Four Stocks...
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Latest Insider Activity
FibroGen Inc. (FGEN) Chief Executive Officer Conterno Enrique A announced the sale of shares taking place on Mar 10 at $20.20 for some 31,589 shares. The total came to more than $0.64 million.
Samsara Inc. (IOT) Director Andreessen Marc L sold on Mar 08 a total 360,983 shares at $20.92 on average. The insider’s sale generated proceeds of almost $7.55 million.
Enovix Corporation (ENVX) Director Rodgers Thurman J declared the purchase of shares taking place on Mar 10 at $9.56 for some 65,134 shares. The transaction amount was around $0.62 million.
Revolution Medicines Inc. (RVMD) Director Schroeder Thilo bought on Mar 10 a total 100,000 shares at $20.46 on average. The purchase cost the insider an estimated $2.05 million.
5 Stocks On Our Radar...
We've uncovered new profit opportunities emerging. In fact, there are 5 stocks on our radar.
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Important Earnings
Top US earnings releases scheduled for today include ZIM Integrated Shipping Services Ltd. (NYSE: ZIM). It will announce its Dec 2022 financial results. The company is expected to report earnings of $3.05 per share from revenues of $2.11B in the three-month period.
Analysts expect Myomo Inc. (AMEX: MYO) to report a net income (adjusted) of -$0.42 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $4.06M.
Whole Earth Brands Inc. (FREE), due to announce earnings before the market opens today, is expected to report earnings of $0 per share from revenues of $138.89M 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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