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- Aug - 28 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 28 - NH - Morning Newsletter (with survey at top and bottom)
Investment Spotlight: 4 Stocks Set to Outshine the Market Today
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Good Morning!
At the onset of the final trading week in August, stock futures experienced a modest upturn. Futures linked to the Dow Jones Industrial Average climbed by 86 points, indicating a rise of approximately 0.25%. Similarly, S&P 500 futures exhibited a growth of 0.21%, while Nasdaq-100 futures displayed a stronger increase of 0.31%.In the previous trading session, stocks concluded on a positive note, driven by recent comments made by Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average recorded a gain of 247.48 points, equivalent to a 0.7% increase, during Friday's trading. However, despite this, the index concluded the week with a 0.45% decline. The S&P 500 saw an increase of approximately 0.7%, while the Nasdaq Composite made more substantial progress with a growth of around 0.9%. Both the broad-based and tech-heavy indices achieved their first winning week in four weeks, showing gains of about 0.8% and 2.3%, respectively.Throughout this week, the financial community will closely analyze additional economic data, notably focusing on the Dallas Fed index for August. This assessment is in anticipation of the upcoming monthly jobs report scheduled for Friday. The outcomes of these analyses could provide further insights into various aspects, including consumer well-being, the broader macroeconomic landscape, and the condition of the U.S. labor market.
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Today Top Movers
LQR House Inc. (LQR) stock soared 37.25% to $1.4 in the pre-market trading. The company recently announced stock repurchase program and upcoming marketing plans to reinforce investor confidence and integrity.
Vahanna Tech Edge Acquisition I Corp. (NASDAQ: VHNA) shares are trading up 45.7% at $14.06 at the time of writing after announcing additional contribution to trust account to extend deadline to consummate business combination.
Hawaiian Electric Industries Inc. (HE) grew over 36.96% at $13.23 in pre-market trading today after providing update on Lahaina fires.
BridgeBio Pharma Inc. (BBIO), a Biotechnology company, rose about 8.25% at $32.13 in pre-market trading Monday after announcing the presentation of detailed positive results from its Phase 3 ATTRibute-CM study of acoramidis for patients with ATTR-CM by Julian Gillmore, MBBS, M.D., Ph.D., FRCP, FRCPath, in a Hot Line session at the European Society of Cardiology Congress 2023.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on UGI Corporation (UGI), upgrading the stock to Overweight and assigning a $27 price target, representing potential upside of 18.89% from Friday's close.
Zimmer Biomet Holdings Inc. (ZBH) has won the favor of BTIG's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $139, suggesting 20.62% additional upside for the stock.
Mister Car Wash Inc. (MCW) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $12. They changed their rating on MCW to Overweight from Neutral in a recently issued research note.
Earlier Monday Jefferies reduced its rating on Denbury Inc. (DEN) stock to Hold from Buy and assigned the price target to $91.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for CrowdStrike Holdings Inc. (CRWD) has been changed to Equal-Weight from Overweight and the new price target is set at $167.
Analysts at Bernstein downgraded L3Harris Technologies Inc. (LHX)'s stock to Market Perforn from Outperform Monday.
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Latest Insider Activity
Navitas Semiconductor Corporation (NVTS) Sr VP, CFO and Treasurer SHELTON RON announced the sale of shares taking place on Aug 25 at $8.31 for some 40,000 shares. The total came to more than $0.33 million.
DXC Technology Company (DXC) EVP & General Counsel DECKELMAN WILLIAM L JR sold on Aug 24 a total 75,000 shares at $20.72 on average. The insider’s sale generated proceeds of almost $1.55 million.
Forward Air Corporation (FWRD) Chief Operating Officer RUBLE CHRIS C declared the purchase of shares taking place on Aug 25 at $69.77 for some 1,433 shares. The transaction amount was around $99992.0.
The RealReal Inc. (REAL) Chief Executive Officer Koryl John E bought on Aug 25 a total 43,251 shares at $2.30 on average. The purchase cost the insider an estimated $99,477.
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Important Earnings
Top US earnings releases scheduled for today include HEICO Corporation (NYSE:HEI). It will announce its Jul 2023 financial results. The company is expected to report earnings of $0.72 per share from revenues of $701.71M in the three-month period.
Analysts expect Afya Limited (NASDAQ:AFYA) to report a net income (adjusted) of $0.29 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $142.22M.
Tarena International Inc. (TEDU), due to announce earnings after the market closes today, is expected to report earnings of -$0.02 per share from revenues of $71.96M 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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