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- Apr 06 - NH - Morning Newsletter (with survey at top and bottom)
Apr 06 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Investor: Discover Today's Market Leaders
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Good Morning!As the weekend approaches, traders seem to be playing it safe with U.S. stock futures barely budging. The anticipation for Friday's jobs data, coupled with the market's closure that day, has caused caution to prevail.The S&P 500 futures dipped slightly, falling by 1 point or 0%, to 4116, while the Dow Jones Industrial Average futures slipped by 3 points or 0% to 33653. The Nasdaq 100 futures saw a small drop of 14 points, or 0.1%, to 13066.Wednesday saw the Dow Jones Industrial Average increase by 80 points, or 0.24%, reaching 33483. However, the S&P 500 took a hit, declining by 10 points or 0.25%, to 4090. Meanwhile, the Nasdaq Composite dropped by 129 points or 1.07%, reaching 11997.As a long weekend approaches for most major financial centers, activity across asset classes has been fairly modest. Monday saw the S&P 500 reach a seven-week high thanks to falling bond yields. Traders were hopeful that signs of an economic slowdown might ease inflation and prompt the Federal Reserve to begin cutting interest rates later in the year.All eyes are now on the non-farm payrolls report, which is set to be released on Friday when the stock markets are closed. This report may either confirm or challenge these revived economic concerns. The U.S. first-quarter earnings season also kicks off next week, with some of the big banks presenting their numbers.
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Today Top Movers
Nuburu Inc. (BURU) stock plunged -13.58% to $3.69 in the pre-market trading after announcing that it has been selected by the U.S. Department of Defense (DOD) for position on contract for high energy laser systems.
SeaChange International Inc. (NASDAQ: SEAC) shares are trading up 12.76% at $0.4621 at the time of writing following the release of fiscal Q4 and full year 2023 financial and operational results.
AMC Entertainment Holdings Inc. (AMC) grew over 11.11% at $4.5 in pre-market trading today. A status quo order was denied by a U.S. court, which means that AMC Entertainment Holdings Inc will not be able to convert its preferred stock into common shares until further notice.
Micromobility.com Inc. (MCOM) soared about 16.07% at $2.60 in pre-market trading Thursday after announcing that Share Intel's extensive analysis of MCOM stock has identified consistent imbalances and reported short interest, signaling the potential presence of illegal naked short sales.
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Top Upgrades & Downgrades
Raymond James turned bullish on FedEx Corporation (FDX), upgrading the stock to Outperform and assigning a $285 price target, representing potential upside of 23.97% from Wednesday's close.
Ferrari N.V. (RACE) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $283, suggesting 4.62% additional upside for the stock.
Welltower Inc. (WELL) received an upgrade from analysts at Citigroup, who also set their one-year price target on the stock to $81. They changed their rating on WELL to Buy from Neutral in a recently issued research note.
Earlier Thursday JP Morgan reduced its rating on The Mosaic Company (MOS) stock to Neutral from Overweight and assigned the price target to $46.
Rosenblatt analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Lumentum Holdings Inc. (LITE) has been changed to Neutral from Buy and the new price target is set at $48.
Analysts at Citigroup downgraded Healthpeak Properties Inc. (PEAK)'s stock to Neutral from Buy Thursday.
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Latest Insider Activity
Seagen Inc. (SGEN) Director WELCH DANIEL G announced the sale of shares taking place on Apr 03 at $201.61 for some 20,275 shares. The total came to more than $4.09 million.
Joby Aviation Inc. (JOBY) See Remarks Field Matthew sold on Apr 05 a total 8,068 shares at $4.21 on average. The insider’s sale generated proceeds of almost $33966.0.
Skillz Inc. (SKLZ) Chief Executive Officer Paradise Andrew declared the purchase of shares taking place on Apr 05 at $0.56 for some 1,500,000 shares. The transaction amount was around $0.84 million.
Akamai Technologies Inc. (AKAM) Chief Executive Officer LEIGHTON F THOMSON bought on Apr 05 a total 323 shares at $77.60 on average. The purchase cost the insider an estimated $25,065.
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Important Earnings
Top US earnings releases scheduled for today include Levi Strauss & Co. (NYSE:LEVI). It will announce its Feb 2023 financial results. The company is expected to report earnings of $0.32 per share from revenues of $1.62B in the three-month period.
Analysts expect Lamb Weston Holdings Inc. (NYSE:LW) to report a net income (adjusted) of $0.99 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2023 is predicted to come in at $1.16B.
RPM International Inc. (RPM), due to announce earnings after the market closes today, is expected to report earnings of $0.31 per share from revenues of $1.47B 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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