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- Aug - 23 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 23 - NH - Morning Newsletter (with survey at top and bottom)
On the Horizon: 4 Stocks with Bright Prospects in Today's Market
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U.S. stock markets are poised for a recovery on Wednesday following losses the prior day, with a spotlight on chipmaker Nvidia's performance. Early on Wednesday, Dow Jones Industrial Average futures climbed 110 points or 0.3%, while S&P 500 futures saw a 0.5% increase, and Nasdaq 100 futures were up by 0.7%. The market's focal point remains Nvidia's upcoming results, set to be released after trading hours. Attention is directed not only at its financial figures but also at its insights into supply chain dynamics and chip availability, especially for artificial intelligence projects. Moreover, earnings from retailers like Kohl’s and Foot Locker are under scrutiny for indications of the American consumer's well-being, particularly following cautionary reports from Macy’s and Dick’s Sporting Goods on Tuesday regarding future spending prospects.
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Today Top Movers
Apellis Pharmaceuticals Inc. (APLS) stock soared 31.01% to $40.3 in the pre-market trading following the announcement regarding advancements in Injection Kits and the reassuring handling of rare safety events tied to SYFOVRE® (pegcetacoplan injection).
Mainz Biomed N.V. (NASDAQ: MYNZ) shares are trading up 4.86% at $3.45 at the time of writing after announcing live launch of ColoAlert® with testDNA Laboratory in Poland.
AMTD Digital Inc. (HKD) grew over 7.54% at $6.85 in pre-market trading today. The company declared a US$30million share repurchase program.
Urban Outfitters Inc. (URBN), a Apparel Retail company, rose about 6.22% at $36.21 in pre-market trading Wednesday after reporting record Q2 sales.
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Top Upgrades & Downgrades
HC Wainwright & Co. turned bullish on Fulcrum Therapeutics Inc. (FULC), upgrading the stock to "Buy" and assigning a $14 price target, representing potential upside of 157.83% from Tueday's close.
TriplePoint Venture Growth BDC Corp. (TPVG) has won the favor of Compass Point's equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $9.75.
Dollar General Corporation (DG) received an upgrade from analysts at Edward Jones. They changed their rating on DG to Buy from Hold in a recently issued research note.
Earlier Wednesday Piper Sandler reduced its rating on Premier Inc. (PINC) stock to Neutral from Overweight and assigned the price target to $25.
TD Cowen analysts reduced their investment ratings, saying in research reports covered by the media that its rating for PhenomeX Inc. (CELL) has been changed to Market Perform from Outperform and the new price target is set at $1.
Analysts at BofA downgraded DICK'S Sporting Goods Inc. (DKS)'s stock to Neutral from Buy Wednesday.
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Latest Insider Activity
Palantir Technologies Inc. (PLTR) See Remarks Karp Alexander C. announced the sale of shares taking place on Aug 22 at $14.81 for some 176,588 shares. The total came to more than $2.61 million.
Canoo Inc. (GOEV) President Sheeran Josette sold on Aug 21 a total 25,052 shares at $0.43 on average. The insider’s sale generated proceeds of almost $10772.0.
The Charles Schwab Corporation (SCHW) Director Ruffel Charles A. declared the purchase of shares taking place on Aug 17 at $60.55 for some 833 shares. The transaction amount was around $50440.0.
Energy Transfer LP (ET) Executive Chairman WARREN KELCY L bought on Aug 21 a total 1,150,000 shares at $13.00 on average. The purchase cost the insider an estimated $14.95 million.
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Important Earnings
Top US earnings releases scheduled for today include NVIDIA Corporation (NASDAQ:NVDA). It will announce its Jul 2023 financial results. The company is expected to report earnings of $2.09 per share from revenues of $11.22B in the three-month period.
Analysts expect Snowflake Inc. (NYSE:SNOW) to report a net income (adjusted) of $0.1 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2023 is predicted to come in at $662.24M.
VNET Group Inc. (VNET), due to announce earnings after the market closes today, is expected to report earnings of -$0.05 per share from revenues of $258.61M 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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