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- 23 Feb - NH - Morning Newsletter (with survey at top and bottom)
23 Feb - NH - Morning Newsletter (with survey at top and bottom)
The Morning Stock Brief: 4 Power Stocks to Watch
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Good Morning!In anticipation of Nvidia's earnings report and the Federal Reserve's potential future actions, stock futures rose Thursday.Dow Jones Industrial Average futures gained 79 points or 0.2%. S&P 500 futures jumped 0.4%, and Nasdaq-100 futures increased by 0.7%.NASDAQ futures rose 8% as Nvidia's earnings and revenue beat expectations in the fourth quarter.S&P 500 shares fell 0.2% on Wednesday, their fourth consecutive loss. A small gain was posted by the Nasdaq Composite while the Dow also fell.Those moves followed the publication of minutes from the Federal Reserve's most recent meeting, which concluded on Feb. 1, showing members were determined to keep hiking rates to combat inflation.Alibaba, Papa John's, Wayfair, Bath & Body Works, among others, will release consumer earnings reports Thursday morning. After the bell, Beyond Meat, Block, and Warner Bros. will address investors.
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Today Top Movers
Jounce Therapeutics Inc. (JNCE) stock soared 34.29% to $1.33 in the pre-market trading after announcing an unanimously recommended Business Combination of the two companies via a proposed all share merger transaction.
Intuitive Machines Inc. (NASDAQ: LUNR) shares are trading up 27.76% at $104.75 at the time of writing as investors rush into the space exploration company and revive their 2021 trading playbook.
Ferroglobe PLC (GSM) grew over 19.16% at $5.1 in pre-market trading today after reporting Q4 and record full year 2022 financial results.
Enovix Corporation (ENVX), a Electrical Equipment & Parts company, rose about 16.43% at $9.64 in pre-market trading Thursday following the release of Q4 and full year 2022 financial results.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on Intel Corporation (INTC), upgrading the stock to Equal-Weight and assigning a $28 price target, representing potential upside of 9.93% from Wednesday's close.
Wix.com Ltd. (WIX) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $99, suggesting 8.91% additional upside for the stock.
DocuSign Inc. (DOCU) received an upgrade from analysts at Wolfe Research. They changed their rating on DOCU to Peer Perform from Underperform in a recently issued research note.
Earlier Thursday JP Morgan reduced its rating on Oak Street Health Inc. (OSH) stock to Neutral from Overweight and assigned the price target to $39.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Centene Corporation (CNC) has been changed to Neutral from Overweight and the new price target is set at $90.
Analysts at Raymond James downgraded Jounce Therapeutics Inc. (JNCE)'s stock to Market Perform from Outperform Thursday.
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Latest Insider Activity
Old National Bancorp (ONB) EXECUTIVE CHAIRMAN SCUDDER MICHAEL L announced the sale of shares taking place on Feb 22 at $17.70 for some 8,244 shares. The total came to more than $0.15 million.
DraftKings Inc. (DKNG) Chief Accounting Officer Bradbury Erik sold on Feb 17 a total 18,975 shares at $20.69 on average. The insider’s sale generated proceeds of almost $0.39 million.
Newell Brands Inc. (NWL) Chief Financial Officer Erceg Mark J declared the purchase of shares taking place on Feb 17 at $14.99 for some 66,700 shares. The transaction amount was around $1.0 million.
NextEra Energy Inc. (NEE) Director, Pres & CEO of Sub Pimentel Armando Jr bought on Feb 21 a total 13,200 shares at $75.44 on average. The purchase cost the insider an estimated $995,808.
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Important Earnings
Top US earnings releases scheduled for today include Alibaba Group Holding Limited (NYSE: BABA). It will announce its Dec 2022 financial results. The company is expected to report earnings of $2.37 per share from revenues of $35.76B in the three-month period.
Analysts expect Nikola Corporation (NASDAQ: NKLA) to report a net income (adjusted) of -$0.43 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $32.13M.
Medical Properties Trust Inc. (MPW), due to announce earnings before the market opens today, is expected to report earnings of $0.28 per share from revenues of $372.99M 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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