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- Apr 12 - NH - Morning Newsletter (with survey at top and bottom)
Apr 12 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Brief: Don't Miss Out on Market Moves
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Good Morning!The stock market futures didn't budge much on Wednesday as everyone kept their eyes peeled for the much-awaited inflation report for March. The Dow Jones Industrial Average linked futures showed a slight increase of 52 basis points or 0.16%, whereas the S&P 500 futures crawled up 0.1%, and the Nasdaq-100 futures slipped marginally.The March Consumer Price Index report was expected to come out at 8:30 a.m. ET, with economists from Dow Jones forecasting a rise of 0.2% in CPI for March compared to a 0.4% gain in February. Brace yourself for the possible impact of the report's findings on the Federal Reserve's rate decision in May. It might also give solid ground for a cessation of the central bank's rate-hiking program.Let's rewind to Tuesday's mixed results. The S&P 500 didn't change much, but the Dow Jones Industrial Average rose by 0.29%, while the Nasdaq Composite fell by 0.43%. Nine of the significant S&P sectors finished positively, led by a 0.9% gain in the energy sector. Unfortunately, the information technology sector wasn't as lucky, with chip names and megacap software giant Microsoft leading it down by 1%.
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Today Top Movers
Altamira Therapeutics Ltd. (CYTO) stock soared 79.55% to $2.37 in the pre-market trading after positioning its patented SemaPhore mRNA delivery platform as Versatile and efficient alternative to Lipid Nanoparticles.
Nutex Health Inc. (NASDAQ: NUTX) shares are trading up 26.54% at $1.21 at the time of writing following the declaration from the company that its has entered into a $100 million pre-paid advance agreement with Yorkville Advisors Global L.P..
Panbela Therapeutics Inc. (PBLA) grew over 47.78% at $0.6399 in pre-market trading today. The company recently announced that it has regained the North American rights to develop and commercialize Flynpovi in patients with familial adenomatous polyposis (FAP).
HeartCore Enterprises Inc. (HTCR), a Software - Application company, rose about 123.84% at $1.97 in pre-market trading Wednesday after signing the Tenth Go IPO contract.
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Top Upgrades & Downgrades
JMP Securities turned bullish on Shopify Inc. (SHOP), upgrading the stock to Market Outperform and assigning a $65 price target, representing potential upside of 45.15% from Tuesday's close.
Lazard Ltd (LAZ) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Underweight to Equal-Weight and moved their price target to $36, suggesting 12.39% additional upside for the stock.
MongoDB Inc. (MDB) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $270. They changed their rating on MDB to Overweight from Equal-Weight in a recently issued research note.
Earlier Wednesday Stifel reduced its rating on Insight Enterprises Inc. (NSIT) stock to Hold from Buy and assigned the price target to $150.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Jefferies Financial Group Inc. (JEF) has been changed to Underweight from Equal-Weight and the new price target is set at $27.
Analysts at BofA downgraded AudioCodes Ltd. (AUDC)'s stock to Underperform from Neutral Wednesday.
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Latest Insider Activity
ACADIA Pharmaceuticals Inc. (ACAD) Principal Accounting Officer Kihara James announced the sale of shares taking place on Apr 10 at $18.14 for some 523 shares. The total came to more than $9487.0.
Freshworks Inc. (FRSH) Director Flower Johanna sold on Apr 10 a total 4,700 shares at $14.65 on average. The insider’s sale generated proceeds of almost $68855.0.
TeraWulf Inc. (WULF) Chief Executive Officer Prager Paul B. declared the purchase of shares taking place on Apr 11 at $1.37 for some 100,000 shares. The transaction amount was around $0.14 million.
Heliogen Inc. (HLGN) 10% Owner Nant Capital, LLC bought on Apr 06 a total 641,027 shares at $0.25 on average. The purchase cost the insider an estimated $159,103.
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Important Earnings
Top US earnings releases scheduled for today include Apogee Enterprises Inc. (NASDAQ: APOG). It will announce its Feb 2023 financial results. The company is expected to report earnings of $0.83 per share from revenues of $348.18M in the three-month period.
Analysts expect Theratechnologies Inc. (NASDAQ: THTX) to report a net income (adjusted) of -$0.05 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2023 is predicted to come in at $21.76M.
Rent the Runway Inc. (RENT), due to announce earnings before the market opens today, is expected to report earnings of -$0.51 per share from revenues of $75.23M 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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