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- Aug - 24 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 24 - NH - Morning Newsletter (with survey at top and bottom)
Charting Growth: 4 Stocks Ready to Rise on Today's Radar
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Good Morning!
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
NVIDIA Corporation (NVDA) stock soared 7.95% to $508.6 in the pre-market trading after announcing financial results for second quarter fiscal 2024.
Splunk Inc. (NASDAQ: SPLK) shares are trading up 13.98% at $113.9 at the time of writing following the release of fiscal second quarter 2024 financial results.
Autodesk Inc. (ADSK) grew over 6.58% at $217.81 in pre-market trading today. The company recently declared fiscal 2024 second quarter results.
Marvell Technology Inc. (MRVL), a Semiconductors company, rose about 4.63% at $64.35 in pre-market trading Thursday following the introduction of Orion, the industry's first 800 Gbps coherent digital signal processor, set to transform connectivity across extended networks.
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Top Upgrades & Downgrades
B of A Securities turned bullish on Williams-Sonoma, Inc. (WSM), upgrading the stock to "Neutral" and assigning a $146 price target, representing potential upside of 2.8% from Wednesday's close.
Prudential Financial Inc. (PRU) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Market Perform to Strong Buy and moved their price target to $125, suggesting 38.72% additional upside for the stock.
Discover Financial Services (DFS) received an upgrade from analysts at Wolfe Research, who also set their one-year price target on the stock to $104. They changed their rating on DFS to Outperform from Peer Perform in a recently issued research note.
Earlier Thursday KGI Securities reduced its rating on Sea Limited (SE) stock to Neutral from Outperform and assigned the price target to $42.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Integra LifeSciences Holdings Corporation (IART) has been changed to Underweight from Equal-Weight and the new price target is set at $44.
Analysts at Piper Sandler downgraded Analog Devices Inc. (ADI)'s stock to Neutral from Overweight Thursday.
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Latest Insider Activity
Amazon.com Inc. (AMZN) CEO Amazon Web Services Selipsky Adam announced the sale of shares taking place on Aug 22 at $135.00 for some 500 shares. The total came to more than $67500.0.
Intel Corporation (INTC) EVP & GM, CCG Holthaus Michelle Johnston sold on Aug 21 a total 1 shares at $32.41 on average. The insider’s sale generated proceeds of almost $32.0.
Hecla Mining Company (HL) Director Johnson George R declared the purchase of shares taking place on Aug 22 at $4.07 for some 8,500 shares. The transaction amount was around $34585.0.
Microvast Holdings Inc. (MVST) Chief Financial Officer Webster Craig bought on Aug 22 a total 13,000 shares at $1.64 on average. The purchase cost the insider an estimated $21,320.
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Important Earnings
Top US earnings releases scheduled for today include Marvell Technology Inc. (NASDAQ:MRVL). It will announce its Jul 2023 financial results. The company is expected to report earnings of $0.32 per share from revenues of $1.33B in the three-month period.
Analysts expect The Gap Inc. (NYSE:GPS) to report a net income (adjusted) of $0.09 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2023 is predicted to come in at $3.57B.
Affirm Holdings Inc. (AFRM), due to announce earnings after the market closes today, is expected to report earnings of -$0.85 per share from revenues of $406.26M 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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