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- Apr 03 - NH - Morning Newsletter (with survey at top and bottom)
Apr 03 - NH - Morning Newsletter (with survey at top and bottom)
The Daily Stock Scoop: Uncover Market Opportunities
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Good Morning!It's Friday and the excitement is palpable as investors eagerly await a crucial inflation report. U.S. stock futures started the day off slightly lower, with Dow Jones Industrial Average futures down by 30 points or 0.09%. Meanwhile, S&P 500 futures and Nasdaq 100 futures were both holding steady.Yesterday, the Dow managed to gain an impressive 141 points or 0.43%, while the S&P 500 rose 0.57%, and the Nasdaq climbed by 0.73%. This week has been a positive one for the three major averages, with the Dow currently up by 1.93% and the S&P 500 boasting a 2% gain. Both indices are set to enjoy their best weekly performance since January. Meanwhile, the Nasdaq is up by 1.6% for the week.Yesterday's gains were fueled by optimism on Wall Street, as the number of weekly jobless claims reached 198,000, which is up 7,000 from the previous week. However, despite this cooldown in the labor market, the mood remains optimistic that the Fed will soon bring an end to its rate hike cycle.Semiconductors were also having a good day, with AMD and Nvidia enjoying gains of over 1%. Today, all eyes will be on the personal income data and consumer spending figures due to be released this morning, alongside the final March reading of the University of Michigan's consumer sentiment index at 10 a.m. ET.To add to the excitement, several central bank officials, including Fed Governors Lisa Cook and Christopher Waller, are scheduled to speak today. It's shaping up to be a busy and exciting day in the world of finance!
5 Stocks to Buy Immediately
Eric Fry, one of America's top Investment Strategists, provides his latest report, 5 Top Stocks for 2023. You can't afford to miss out on the once in a decade chance to buy after the recent dip in the markets.
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Today Top Movers
Inpixon (INPX) stock soared 21.73% to $0.4504 in the pre-market trading after reporting 2022 financial results.
FOXO Technologies Inc. (AMEX: FOXO) shares are trading up 20.0% at $0.444 at the time of writing following the declaration of full year 2022 financial results and recent business highlights.
Fortress Biotech Inc. (FBIO) grew over 18.28% at $0.88 in pre-market trading today. The company recently reported full-year 2022 financial results.
Rumble Inc. (RUM) is up 15.48% to $10.78 in pre-market today after reporting revenue of $20.0 million for the Q4 2022 compared to $2.9 million in the fourth quarter of 2021, an increase of 579%.
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Top Upgrades & Downgrades
Citigroup turned bullish on Silk Road Medical Inc (SILK), upgrading the stock to Buy and assigning a $50 price target, representing potential upside of 27.78% from Friday's close.
U.S. Silica Holdings Inc. (SLCA) has won the favor of Barclays' equity research team. The firm upgraded the shares from Underweight to Equal-Weight and moved their price target to $17, suggesting 42.56% additional upside for the stock.
Primoris Services Corporation (PRIM) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $27. They changed their rating on PRIM to Neutral from Sell in a recently issued research note.
Earlier Monday Morgan Stanley reduced its rating on First Solar Inc. (FSLR) stock to Underweight from Equal-Weight and assigned the price target to $200.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Plug Power Inc. (PLUG) has been changed to Equal-Weight from Overweight and the new price target is set at $15.
Analysts at B of A Securities downgraded Paychex Inc. (PAYX)'s stock to Underperform from Neutral Monday.
20-cent Gold Stock Has Backing of Major Gold Producers
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Latest Insider Activity
Rhythm Pharmaceuticals Inc. (RYTM) Chief Accounting Officer Roberts William T. announced the sale of shares taking place on Mar 29 at $17.50 for some 912 shares. The total came to more than $15960.0.
Rigetti Computing Inc. (RGTI) General Counsel & Corp. Sec. Danis Richard sold on Mar 30 a total 50,871 shares at $0.56 on average. The insider’s sale generated proceeds of almost $28488.0.
GameStop Corp. (GME) Director Cheng Lawrence declared the purchase of shares taking place on Mar 29 at $22.80 for some 5,000 shares. The transaction amount was around $0.11 million.
Frontier Communications Parent Inc. (FYBR) 10% Owner ARES MANAGEMENT LLC bought on Mar 29 a total 139,522 shares at $21.09 on average. The purchase cost the insider an estimated $2.94 million.
Five Top Tech Stocks to Own Now
Warren Buffett says that a "climate of fear is your friend when investing; a euphoric world is your enemy."
"The time to buy is when there's blood in the streets, even if the blood is your own."
With a good deal of fear priced into the tech sector, here are five hot stocks to consider.
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Important Earnings
Top US earnings releases scheduled for today include Science Applications International Corporation (NYSE:SAIC). It will announce its Jan 2023 financial results. The company is expected to report earnings of $1.66 per share from revenues of $1.86B in the three-month period.
Analysts expect Digital Ally Inc. (NASDAQ:DGLY) to report a net income (adjusted) of -$2.4 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $11.52M.
Stryve Foods Inc. (SNAX), due to announce earnings after the market closes today, is expected to report earnings of -$0.15 per share from revenues of $5.54M 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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