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- Apr 14 - NH - Morning Newsletter (with survey at top and bottom)
Apr 14 - NH - Morning Newsletter (with survey at top and bottom)
Today's Top Stocks: Get a Jump on the Market
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Good Morning!Hold on to your hats, folks! The start of corporate earnings season has investors on edge this Friday morning as they carefully consider the latest inflation data and what it could mean for the economy. While futures tied to the Dow Industrial Average lost 72 points, or 0.21%, S&P 500 futures were only marginally lower and Nasdaq 100 futures shed 0.14%. But don't let that get you down! Yesterday was a fantastic day on Wall Street with the Nasdaq Composite up nearly 2%, and the S&P 500 and Dow finishing 1.3% and 1.1% higher, respectively.Inflation is the buzzword of the day, while the March producer price index declined 0.5% from the prior month, even as economists had predicted prices would remain steady. Excluding food and energy, the index shed 0.1% from the prior month, while economists estimated a 0.2% month-to-month increase. All eyes are on JPMorgan, Wells Fargo, and Citi, who are set to report their earnings before the bell. But that's not all - data on retail sales, import prices, and the industrial sector will also be eagerly anticipated. With these insights, investors hope to gain a better understanding of the current state of the economy.
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Today Top Movers
CXApp Inc. (CXAI) stock soared 263.11% to $25.89 in the pre-market trading, surging to a new record high following its SPAC merger.
Inpixon (INPX) stock is up 83.33% to $1.32 in pre-market trading, but misconceptions about the CXApp spin-off may be driving the surge.
T Stamp Inc. (IDAI) shares are trading up 8.65% at $6.03 at the time of writing. The company recently announced that it has received Notices of Allowance for an additional three patent applications from the United States Patent Office.
Marpai Inc. (MRAI) grew over 43.56% at $2.34 in pre-market trading today after SEC filling.
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Top Upgrades & Downgrades
JP Morgan turned bullish on DouYu International Holdings Limited (DOYU), upgrading the stock to Neutral and assigning a $1.2 price target, representing potential upside of 5.26% from Thursday's close.
The Mosaic Company (MOS) 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 $54, suggesting 15.51% additional upside for the stock.
HUYA Inc. (HUYA) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $3. They changed their rating on HUYA to Neutral from Underweight in a recently issued research note.
Earlier Friday Jefferies reduced its rating on National Instruments Corporation (NATI) stock to Hold from Buy and assigned the price target to $60.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Orion Engineered Carbons S.A. (OEC) has been changed to Neutral from Overweight and the new price target is set at $26.
Analysts at Piper Sandler downgraded Rivian Automotive Inc. (RIVN)'s stock to Neutral from Overweight Friday.
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Latest Insider Activity
Oracle Corporation (ORCL) Chief Executive Officer CATZ SAFRA announced the sale of shares taking place on Apr 12 at $94.36 for some 1,924,058 shares. The total came to more than $181.56 million.
Zoom Video Communications Inc. (ZM) Chief Operating Officer Bawa Aparna sold on Apr 11 a total 7,000 shares at $69.76 on average. The insider’s sale generated proceeds of almost $0.49 million.
Fortinet Inc. (FTNT) Director NEUKOM WILLIAM H. declared the purchase of shares taking place on Apr 11 at $67.40 for some 423 shares. The transaction amount was around $28509.0.
Applied Digital Corporation (APLD) CEO; Chairman Cummins Wes bought on Apr 12 a total 25,000 shares at $3.18 on average. The purchase cost the insider an estimated $79,500.
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Important Earnings
Top US earnings releases scheduled for today include Wells Fargo & Company (NYSE: WFC). It will announce its Mar 2023 financial results. The company is expected to report earnings of $1.13 per share from revenues of $20.07B in the three-month period.
Analysts expect Citigroup Inc. (NYSE: C) to report a net income (adjusted) of $1.67 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $20.03B.
JPMorgan Chase & Co. (JPM), due to announce earnings before the market opens today, is expected to report earnings of $3.41 per share from revenues of $36.23B 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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