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- Apr 20 - NH - Morning Newsletter (with survey at top and bottom)
Apr 20 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks to Watch: Market Insights for Early Risers
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Good Morning!Stock market futures took a dip on Thursday morning as investors delved into the latest round of corporate earnings. Futures associated with the Dow Jones Industrial Average were down by 145 points, or 0.43%, while S&P 500 futures lost 0.73% and Nasdaq-100 futures slipped 1.12%.Investors closely analyzed several reports released by companies after the closing bell on Wednesday. Tesla, a popular choice among retail investors, dropped 5% after its earnings report showed that net income and GAAP earnings fell over 20% from last year. On the other hand, IBM gained almost 2% after the company revealed that its margins were expanding.The Nasdaq Composite finished Wednesday's session on a high note, while the Dow experienced a slight dip of 0.2%. Thursday promises to be an exciting day as investors eagerly await more earnings reports, including pre-market releases from Alaska Air and AT&T.
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Today Top Movers
United Insurance Holdings Corp. (UIHC)
stock soared 44.24% to $2.38 in the pre-market trading following an 8-K filing with SEC.
Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) shares are trading up 31.67% at $0.4 at the time of writing after announcing that the safety of SON-1010 dosing has been formally reviewed in both of the current Phase 1 clinical trials, and the Company is now enrolling the final dose cohort in the cancer trial.
MDxHealth SA (MDXH) grew over 21.26% at $4.05 in pre-market trading today. The company received notice that its Select mdx for Prostate Cancer test has successfully completed a rigorous technical assessment process with the Molecular Diagnostics Services (MolDX) Program developed by Palmetto GBA.
Dermata Therapeutics Inc. (DRMA), a Biotechnology company, rose about 33.2% at $3.41 in pre-market trading Thursday. The company announced that it has received a response from the U.S. Food and Drug Administration ("FDA") to the Company's Type C Chemistry, Manufacturing, and Controls ("CMC") meeting request.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on Emerson Electric Co. (EMR), upgrading the stock to Overweight and assigning a $105 price target, representing potential upside of 21.6% from Wednesday's close.
The Southern Company (SO) has won the favor of Mizuho's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $77, suggesting 5.75% additional upside for the stock.
Fastly Inc. (FSLY) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $18. They changed their rating on FSLY to Equal-Weight from Underweight in a recently issued research note.
Earlier Thursday BMO Capital reduced its rating on CubeSmart (CUBE) stock to Market Perform from Outperform and assigned the price target to $52.
Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for F5 Inc. (FFIV) has been changed to Equal-Weight from Overweight and the new price target is set at $140.
Analysts at Redburn Partners downgraded The Charles Schwab Corporation (SCHW)'s stock to Sell from Neutral Thuesday.
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Latest Insider Activity
UiPath Inc. (PATH) Chief Financial Officer Gupta Ashim announced the sale of shares taking place on Apr 17 at $16.18 for some 40,000 shares. The total came to more than $0.65 million.
Arista Networks Inc. (ANET) SVP, Chief Operating Officer Sadana Anshul sold on Apr 17 a total 35,358 shares at $163.04 on average. The insider’s sale generated proceeds of almost $5.76 million.
Revelation Biosciences Inc. (REVB) Director TIDMARSH GEORGE F declared the purchase of shares taking place on Apr 18 at $1.16 for some 25,000 shares. The transaction amount was around $29000.0.
Fidelity National Information Services Inc. (FIS) Director Goldstein Jeffrey A bought on Apr 17 a total 958 shares at $57.24 on average. The purchase cost the insider an estimated $54,836.
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Important Earnings
Top US earnings releases scheduled for today include KeyCorp (NYSE: KEY). It will announce its Mar 2023 financial results. The company is expected to report earnings of $0.44 per share from revenues of $1.79B in the three-month period.
Analysts expect AT&T Inc. (NYSE: T) to report a net income (adjusted) of $0.58 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $30.26B.
CSX Corporation (CSX), due to announce earnings after the market closes today, is expected to report earnings of $0.43 per share from revenues of $3.58B 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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