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- Aug - 11 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 11 - NH - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Watch Now
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Good Morning!
U.S. stock futures slipped Friday as traders looked ahead to wholesale prices data and mulled over July's consumer inflation report.Futures linked to the Dow Jones Industrial Average fell just 5 points. S&P 500 futures and Nasdaq 100 futures climbed 0.04% and 0.09%, respectively. The producer price index July reading is slated for release at 8:30 a.m. ET. Economists polled by Dow Jones expect the report to show a 0.2% increase month over month.On a weekly basis, the S&P 500 and the Nasdaq are bound for declines of 0.2% and 1.2%, respectively. Both are on pace for their second straight losing week — a first for the tech-heavy Nasdaq since the conclusion of a four-week losing streak in December 2022. The Dow is an outlier of the three major averages, on track for a modest gain of 0.3%.
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Today Top Movers
Amyris Inc. (AMRS) stock soared 43.4% to $0.0945 in the pre-market trading. The company recently reported that it is moving forward with an operational and financial restructuring to further advance its ongoing strategic transformation and position the Company for long-term success.
Archer Aviation Inc. (NYSE: ACHR) shares are trading up 22.3% at $7.13 at the time of writing as the company reached a settlement with Boeing (BA) and its Wisk air taxi unit to resolve litigation between the parties.
Innodata Inc. (INOD) grew over 18.3% at $12.67 in pre-market trading today after announcing another Big Five Tech New Customer Win and reported second quarter 2023 results.
Pagaya Technologies Ltd. (PGY), a Software - Infrastructure company, rose about 15.58% at $2.67 in pre-market trading Friday after releasing second quarter and first half 2023 results.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on DigitalOcean Holdings Inc. (DOCN), upgrading the stock to Equal-Weight and assigning a $36 price target, representing potential upside of 2.83% from Thursday's close.
Sabra Health Care REIT Inc. (SBRA) has won the favor of BofA's equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $14, suggesting 12.63% additional upside for the stock.
Pinnacle West Capital Corporation (PNW) received an upgrade from analysts at Evercore ISI, who also set their one-year price target on the stock to $78. They changed their rating on PNW to In Line from Underperform in a recently issued research note.
Earlier Friday Citigroup reduced its rating on Capri Holdings Limited (CPRI) stock to Neutral from Buy and assigned the price target to $56.
William Blair analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Wolverine World Wide Inc. (WWW) has been changed to Hold from Buy and the new price target is set at $12.
Analysts at Raymond James downgraded Medical Properties Trust Inc. (MPW)'s stock to Underperform from Strong Buy Friday.
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Latest Insider Activity
Alphabet Inc. (GOOGL) Director HENNESSY JOHN L announced the sale of shares taking place on Aug 10 at $131.14 for some 200 shares. The total came to more than $26227.0.
Opendoor Technologies Inc. (OPEN) Director Wu Eric Chung-Wei sold on Aug 09 a total 500,000 shares at $3.43 on average. The insider’s sale generated proceeds of almost $1.72 million.
Intel Corporation (INTC) CEO GELSINGER PATRICK P declared the purchase of shares taking place on Aug 02 at $34.63 for some 3,850 shares. The transaction amount was around $0.13 million.
Sabre Corporation (SABR) EVP and CFO Randolfi Michael O bought on Aug 09 a total 50,000 shares at $5.38 on average. The purchase cost the insider an estimated $268,808.
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Important Earnings
Top US earnings releases scheduled for today include YPF Sociedad Anonima (NYSE:YPF). It will announce its Mar 2023 financial results. The company is expected to report earnings of $0.9 per share from revenues of $4.57B in the three-month period.
Analysts expect Spectrum Brands Holdings Inc. (NYSE:SPB) to report a net income (adjusted) of $0.4 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $787.11M.
Bridgeline Digital Inc. (BLIN), due to announce earnings after the market closes today, is expected to report earnings of -$0.06 per share from revenues of $3.86M 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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