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- 28 Feb - NH - Morning Newsletter (with survey at top and bottom)
28 Feb - NH - Morning Newsletter (with survey at top and bottom)
Stock Market News: Get the Inside Scoop on 4 Hot Stocks
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Good Morning!On the eve of February's final trading day, stock futures fell slightly.S&P 500 futures dropped 0.04% and Nasdaq 100 futures fell 0.06%. Dow Jones industrial average futures were down 11 points, or 0.03%.The stock of Zoom Video rose 6.7% on strong earnings, while the stock of Occidental Petroleum declined 1% after failing to meet top and bottom line expectations.In conjunction with the moves, the major averages had a positive session as Treasury yields eased. A 0.22% rise in Dow Jones Industrial Average, 0.31% increase in S&P 500, and 0.63% rise in Nasdaq Composite, respectively, helped boost the stock market.While the major indexes started the year well, they are on course to suffer their second negative month in the last three.At the close of Monday's trading, the Dow is down 3.5% for the month and the only major index to close lower this year. The Nasdaq and S&P 500 are both positive in 2023, but down 2.3% and 1% in February.Among the retailers expected to report earnings on Tuesday are Target, AutoZone, Rivian Automotive, Norwegian Cruise Line Holdings, and AMC Entertainment.
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Today Top Movers
Catalyst Biosciences Inc. (CBIO) stock soared 87.5% to $0.45 in the pre-market trading as GC Biopharma to acquire 3 blood disorder programs.
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) shares are trading up 32.83% at $0.35 at the time of writing after announcing an agreement and plan of merger and reorganization with DMK Pharmaceuticals, Corp.
Hims & Hers Health Inc. (HIMS) grew over 9.74% at $10.59 in pre-market trading today after reporting record fourth quarter and full year 2022 financial results.
Revolution Medicines Inc. (RVMD), a Biotechnology company, rose about 14.98% at $28.02 in pre-market trading Tuesday. The company declared Q4 and full year 2022 financial results.
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Top Upgrades & Downgrades
Credit Suisse turned bullish on Celsius Holdings Inc. (CELH), upgrading the stock to Outperform and assigning a $120 price target, representing potential upside of 33.3% from Monday's close.
Revolution Medicines Inc. (RVMD) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $38, suggesting 55.93% additional upside for the stock.
Broadmark Realty Capital Inc. (BRMK) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $6. They changed their rating on BRMK to Neutral from Underweight in a recently issued research note.
Earlier Tuesday B of A Securities reduced its rating on DISH Network Corporation (DISH) stock to Underperform from Buy and assigned the price target to $10.
Evercore ISI Group analysts reduced their investment ratings, saying in research reports covered by the media that its rating for fuboTV Inc. (FUBO) has been changed to In-Line from Outperform and the new price target is set at $3.
Analysts at Morgan Stanley downgraded Fulcrum Therapeutics Inc. (FULC)'s stock to Equal-Weight from Overweight Tuesday.
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Latest Insider Activity
Rubius Therapeutics Inc. (RUBY) CEO and President Appelhans Dannielle announced the sale of shares taking place on Feb 24 at $0.13 for some 10,385 shares. The total came to more than $1323.0.
Terran Orbital Corporation (LLAP) 10% Owner Beach Point Capital Management sold on Feb 27 a total 627,200 shares at $3.02 on average. The insider’s sale generated proceeds of almost $1.89 million.
Blackboxstocks Inc. (BLBX) President and CEO KEPLER GUST declared the purchase of shares taking place on Feb 23 at $3.00 for some 1,130,002 shares. The transaction amount was around $3.39 million.
Devon Energy Corporation (DVN) President and CEO Muncrief Richard E bought on Feb 22 a total 5,000 shares at $53.00 on average. The purchase cost the insider an estimated $265,000.
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Important Earnings
Top US earnings releases scheduled for today include Target Corporation (NYSE: TGT). It will announce its Jan 2023 financial results. The company is expected to report earnings of $1.4 per share from revenues of $30.72B in the three-month period.
Analysts expect The Bank of Nova Scotia (NYSE: BNS) to report a net income (adjusted) of $1.49 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2023 is predicted to come in at $6.06B.
Sempra (SRE), due to announce earnings before the market opens today, is expected to report earnings of $2.04 per share from revenues of $3.79B 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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