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- Apr 17 - NH - Morning Newsletter (with survey at top and bottom)
Apr 17 - NH - Morning Newsletter (with survey at top and bottom)
Early Bird Stock Picks: 4 Must-Watch Stocks
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Good Morning!Investors are bracing for a flurry of quarterly earnings reports, as stock futures remain flat. S&P 500 futures have inched up by 0.1%, while Nasdaq-100 futures have slightly dipped by 0.1%. Dow Jones futures have ticked up 13 points.This week, Bank of America, Morgan Stanley, and Tesla are among the big names reporting earnings. Although Wells Fargo and JPMorgan Chase posted strong earnings, a slowdown in consumer spending last month has caused some concern. Despite this, stocks have remained resilient, with the Dow posting gains for the fourth consecutive week, while the S&P 500 and Nasdaq Composite had their fourth week in the green in five.
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Today Top Movers
Prometheus Biosciences Inc. (RXDX) stock soared 70.16% to $194.0 in the pre-market trading after the company agreed to be acquired by Merck & Co. for about $10.8 billion.
XPeng Inc. (NYSE: XPEV) shares are trading up 11.49% at $11.06 at the time of writing after the company detailed plans for a new technology platform which it expects will sharply cut costs.
Satsuma Pharmaceuticals Inc. (STSA) grew over 132.06% at $1.52 in pre-market trading today following an announcement from the company that it has entered into a definitive agreement to be acquired by Shin Nippon Biomedical Laboratories, Ltd.
ContraFect Corporation (CFRX), a Biotechnology company, rose about 164.44% at $2.38 in pre-market trading Monday. The company announced that the Company has been selected for an oral presentation and three poster presentations at the 33rd European Congress of Clinical Microbiology & Infectious Diseases Annual Meeting to be held from April 15-18, 2023 in Copenhagen, Denmark.
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Top Upgrades & Downgrades
JP Morgan turned bullish on SLM Corporation (SLM), upgrading the stock to Overweight and assigning a $17 price target, representing potential upside of 18.72% from Friday's close.
Lumentum Holdings Inc. (LITE) has won the favor of JP Morgan' equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $60, suggesting 32.63% additional upside for the stock.
Biogen Inc. (BIIB) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $346. They changed their rating on BIIB to Overweight from Neutral in a recently issued research note.
Earlier Monday New Street Research reduced its rating on National Instruments Corporation (NATI) stock to Neutral from Buy and assigned the price target to $220.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Dell Technologies Inc. (DELL) has been changed to Neutral from Overweight and the new price target is set at 17.
Analysts at Jefferies downgraded CommScope Holding Company, Inc. (COMM)'s stock to Neutral from Overweight Monday.
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Latest Insider Activity
Joby Aviation Inc. (JOBY) Head of Product Allison Eric announced the sale of shares taking place on Apr 13 at $4.12 for some 18,801 shares. The total came to more than $77460.0.
Atlassian Corporation (TEAM) Co-CEO, Co-Founder Cannon-Brookes Michael sold on Apr 13 a total 8,614 shares at $166.08 on average. The insider’s sale generated proceeds of almost $1.43 million.
Akamai Technologies Inc. (AKAM) Chief Executive Officer LEIGHTON F THOMSON declared the purchase of shares taking place on Apr 14 at $83.00 for some 302 shares. The transaction amount was around $25066.0.
CNS Pharmaceuticals Inc. (CNSP) Chief Executive Officer Climaco John M bought on Apr 12 a total 15,000 shares at $0.69 on average. The purchase cost the insider an estimated $10,408.
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Important Earnings
Top US earnings releases scheduled for today include The Charles Schwab Corporation (NYSE: SCHW). It will announce its Mar 2023 financial results. The company is expected to report earnings of $0.9 per share from revenues of $5.15B in the three-month period.
Analysts expect State Street Corporation (NYSE: STT) to report a net income (adjusted) of $1.64 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $3.12B.
Equity LifeStyle Properties Inc. (ELS), due to announce earnings after the market closes today, is expected to report earnings of $0.51 per share from revenues of $368.05M 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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