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- 17 Feb - NH - Morning Newsletter (with survey at top and bottom)
17 Feb - NH - Morning Newsletter (with survey at top and bottom)
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Good Morning!On Friday, U.S. stock futures fell as investors fretted about inflation.A drop of 178 points, or 0.5%, was seen on the Dow Jones Industrial Average futures. A 0.7% dip in S&P 500 futures and a 1% dip in Nasdaq-100 futures were reported. A report from the Labor Department showed that wholesale prices rose 0.7% in the recent month, causing the major averages to lose more than 1% on Thursday. Economists were surprised by that number.Moreover, stocks were affected by comments from St. Louis Federal Reserve President James Bullard. According to him, he backed a 50-basis-point hike at the central bank's previous meeting and isn't ruling out another one in March.The latest inflation and retail sales numbers have brought investors' attention to consumers this week.Friday's session begins with mixed index behavior. There is a 0.51% drop in the Dow for the week. There will be a third negative week in a row for the 30-stock index - a first since September. In its sixth week of gains in seven, the Nasdaq climbed 1.18 percent for the week. At the same time, the S&P 500 remains flat.
Investors! Have You Staked Your Claim In Lithium?
This hard rock lithium company has partnered with its USD$1.8B Lithium giant neighbor and is on the cusp. Lithium is a key resource in the global energy transformation and this company has a pending resource estimate in the near future. This is one to watch.
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Today Top Movers
iBio Inc. (IBIO) stock soared 119.94% to $1.65 in the pre-market trading after announcing MUC16 as its latest Immune-Oncology Target Program.
Nogin Inc. (NASDAQ: NOGN) shares are trading up 47.23% at $0.8997 at the time of writing. The company announced an agreement with Seychelles Imports LLC to plug into Nogin’s intelligent commerce technology.
IVERIC bio Inc. (ISEE) grew over 12.9% at $22.58 in pre-market trading today after declaring that FDA has accepted new drug application and granted priority review for Avacincaptad Pegol for the treatment of Geographic Atrophy.
DraftKings Inc. (DKNG), a Gambling company, rose about 9.04% at $19.42 in pre-market trading Friday after reporting fourth quarter revenue of $855M; raised 2023 revenue guidance midpoint to $2.95 billion and improved 2023 adjusted EBITDA guidance midpoint to $400 million.
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Top Upgrades & Downgrades
Compass Point turned bullish on Coinbase Global Inc. (COIN), upgrading the stock to "Buy" and assigning a $100 price target, representing potential upside of 52.46% from Thursday's close.
Axalta Coating Systems Ltd. (AXTA) has won the favor of RBC Capital's equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $36, suggesting 24.31% additional upside for the stock.
ZIM Integrated Shipping Services Ltd. (ZIM) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $30.4. They changed their rating on ZIM to Overweight from Neutral in a recently issued research note.
Earlier Friday Credit Suisse reduced its rating on XP Inc. (XP) stock to Underperform from Neutral and assigned the price target to $15.
B. Riley Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for TravelCenters of America Inc. (TA) has been changed to Neutral from Buy and the new price target is set at $86.
Analysts at BMO Capital downgraded Viatris Inc. (VTRS)'s stock to Market Perform from Outperform Friday.
Rare Green-Metals Discovery: US$2 Stock Set to Deliver Gains
Smart investors are blowing away Wall Street's so-called "experts" on green-metals stocks. And with the clean-energy revolution in full-swing, the near-term gains could be absolutely life-changing. The timing is dead-on accurate with this US$2 stock securing a world-class green-metals resource designated as a Strategic Minerals Deposit at 5.7 Million ounces with drills turning now.
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Latest Insider Activity
Advanced Micro Devices Inc. (AMD) EVP KUMAR DEVINDER announced the sale of shares taking place on Feb 14 at $82.81 for some 32,000 shares. The total came to more than $2.65 million.
Snap Inc. (SNAP) Chief Operating Officer Hunter Jerry James sold on Feb 16 a total 62,913 shares at $11.06 on average. The insider’s sale generated proceeds of almost $0.7 million.
BARK Inc. (BARK) Chief Financial Officer Ibrahim Zahir declared the purchase of shares taking place on Feb 13 at $1.55 for some 100,000 shares. The transaction amount was around $0.15 million.
Blackstone Inc. (BX) Director Porat Ruth bought on Feb 13 a total 277 shares at $92.61 on average. The purchase cost the insider an estimated $25,628.
2023's Hottest Electric Vehicle Stocks – Yours Free
This year could be the biggest one yet for the unstoppable electric vehicle megatrend — but if you're looking to take advantage, the time to act is now. That's why Luke Lango has just released his picks for the 12 best EV stocks of 2023. Each one has been hand-selected for its potential to deliver life-changing profits as electric vehicles continue to disrupt the automotive industry.
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Important Earnings
Top US earnings releases scheduled for today include PPL Corporation (NYSE: PPL). It will announce its Dec 2022 financial results. The company is expected to report earnings of $0.28 per share from revenues of $1.62B in the three-month period.
Analysts expect CenterPoint Energy Inc. (NYSE:CNP) to report a net income (adjusted) of $0.29 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $1.99B.
Arbor Realty Trust Inc. (ABR), due to announce earnings before the market opens today, is expected to report earnings of $0.33 per share from revenues of $91.93M 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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