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- 27 Jan - NH - Morning Newsletter (with survey at top and bottom)
27 Jan - NH - Morning Newsletter (with survey at top and bottom)
Morning Market Brief: Hot Stocks to Watch and Latest Updates
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Good Morning!Futures for US stock indices are falling on Friday, according to trading data. This time the stocks are affected by a weak report from Intel.Futures for the Dow Jones Industrial Index (DJIA) decreased by 0.13% to 33,979 points, futures for the NASDAQ high-tech companies index - by 0.64%, to 12,029 points, for the S&P 500 broad market index - by 0.37%, up to 4,060.25 points.Intel's shares are down 10.3% in pre-bid trading After yesterday's close, the company reported a quarterly loss after a year-earlier profit and lower revenue. Intel's adjusted earnings per share and revenue for the fourth quarter were lower than expected - $ 0.1 per share and $ 14 billion, respectively, forecasted earnings per share of $ 0.22 and revenue of $ 14.57 billion.Investors are also waiting for the publication of US macro statistics later on Friday. As expected, the consumer sentiment index of the University of Michigan, which reflects the degree of household confidence in the US economy, according to the final assessment, rose to 64.6 points in January from 59.7 points in December. And the income of the American population last month rose by 0.2% compared to November, while spending fell by 0.1%.
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Today Top Movers
RedHill Biopharma Ltd. (RDHL) stock soared 52.63% to $0.281 in the pre-market trading after receiving USPTO notice of allowance for a patent covering phase 3-stage RHB-204 for the treatment of NTM Disease.
BuzzFeed Inc. (NASDAQ: BZFD) shares are trading up 20.1% at $2.51 at the time of writing on news that the company plans to use OpenAI to bolster some of its content creation.
GeoVax Labs Inc. (GOVX) grew over 18.49% at $0.89 in pre-market trading today. The company will present at the 2023 BIO CEO & Investor Conference taking place in-person in New York City.
Comstock Inc. (LODE), a Real Estate Services company, rose about 11.74% at $0.55 in pre-market trading Friday after announced the award by the U.S. Department of Energy of Comstock’s $2,000,000 grant application to build a pre-pilot scale system to demonstrate one of Comstock’s unique new pathways.
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Top Upgrades & Downgrades
Bernstein turned bullish on McCormick & Company Incorporated (MKC), upgrading the stock to Outperform and assigning a $90 price target, representing potential upside of 22.48% from Thursday's close.
Iovance Biotherapeutics Inc. (IOVA) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $14, suggesting 82.05% additional upside for the stock.
Chewy Inc. (CHWY) received an upgrade from analysts at Wedbush. They changed their rating on CHWY to Outperform from Neutral in a recently issued research note.
Earlier Friday Mizuho reduced its rating on Fortinet Inc. (FTNT) stock to Neutral from Buy and assigned the price target to $60.
Cowen & Co. analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Northrop Grumman Corporation (NOC) has been changed to Market Perform from Outperform and the new price target is set at $478.
Analysts at Goldman Sachs downgraded Steel Dynamics Inc. (STLD)'s stock to Neutral from Buy Friday.
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Latest Insider Activity
Jabil Inc. (JBL) EVP, CLO & Asst Corp Secretary Katz Robert L announced the sale of shares taking place on Jan 24 at $80.00 for some 5,222 shares. The total came to more than $0.42 million.
Bowlero Corp. (BOWL) Chief Executive Officer Shannon Thomas F. sold on Jan 24 a total 60,568 shares at $14.27 on average. The insider’s sale generated proceeds of almost $0.86 million.
Clear Channel Outdoor Holdings Inc. (CCO) 10% Owner ARES MANAGEMENT LLC declared the purchase of shares taking place on Jan 25 at $1.56 for some 875,000 shares. The transaction amount was around $1.37 million.
Ault Alliance Inc. (AULT) 10% Owner Ault Alliance, Inc. bought on Jan 25 a total 100 shares at $4.81 on average. The purchase cost the insider an estimated $481.
Sub-$0.50 Lithium Stock Adds Huge Asset to Fuel Electric Car Market
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Important Earnings
Top US earnings releases scheduled for today include Chevron Corporation (NYSE: CVX). It will announce its Dec 2022 financial results. The company is expected to report earnings of $4.38 per share from revenues of $54.63B in the three-month period.
Analysts expect Colgate-Palmolive Company (NYSE: CL) to report a net income (adjusted) of $0.76 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $4.59B.
American Express Company (AXP), due to announce earnings before the market opens today, is expected to report earnings of $2.22 per share from revenues of $14.22B 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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