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- Jul 20 - NH - Morning Newsletter (with survey at top and bottom)
Jul 20 - NH - Morning Newsletter (with survey at top and bottom)
Hot Stocks Alert: Revealing 4 Opportunities for Smart Investors
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Good Morning!
The U.S. stock market kicked off the day with a bit of a seesaw dance as traders carefully assessed the latest round of corporate earnings. Leading the way was the tech-heavy Nasdaq-100 futures, which dipped 0.8%, while the S&P 500 futures took a slight slip of 0.2%. On the flip side, the Dow Jones Industrial Average futures managed to gain a modest 37 points, or 0.1%.All eyes were on Netflix as the streaming giant made headlines with its second-quarter earnings report. However, investors seemed less than impressed, and the stock took a tumble, falling 6.7%. The company's revenue clocked in at $8.19 billion, which unfortunately fell short of the $8.3 billion that analysts had eagerly anticipated.Another major player in the market, Tesla, had its own share of woes, with a 3.1% drop in its stock value. The electric vehicle powerhouse revealed during an earnings call that vehicle production would slow in the upcoming quarter due to necessary factory improvements. The news had some investors on edge, but only time will tell how Tesla navigates this bump in the road.But it wasn't all doom and gloom on Wall Street. Amidst the corporate earnings storm, Johnson & Johnson, Travelers, American Airlines, and Blackstone were preparing to announce their earnings before the opening bell, keeping traders on their toes. Interestingly, the trend of companies exceeding expectations remained strong, with 77% of S&P 500 companies surpassing estimates, according to FactSet data.The regular trading session later saw the Dow making a splash, climbing over 109 points, a 0.3% increase, marking the index's eighth consecutive day in the green and its longest winning streak since September 2019. Meanwhile, the S&P 500 managed to gain 0.2%, and the Nasdaq Composite saw a modest uptick of 0.03%.One thing was clear that optimism was bubbling in the market, fueled by stronger-than-expected quarterly results from various companies. With three-quarters of the S&P 500 firms that have already reported earnings surpassing expectations, investors were hopeful for a gentle landing for the economy, despite some bumps in the road for individual companies.As the trading day unfolds, traders are holding their breath, eagerly awaiting more earnings reports, hoping for further signs of a resilient market. With the winds of change ever-present in the financial world, it's clear that the market's twists and turns are far from over. So, fasten your seatbelts, folks, and brace yourselves for an exhilarating ride on Wall Street!
Five Top Summer Stocks to Buy and Hold Now
With the official start to summer here, there's still time to load up on warmer-weather stocks. That includes your travel stocks, weight loss stocks, oil stocks, and even hurricane-related stocks, with storm-season kicking into high gear, too.
In fact, here are five with a history of moving every summer. Enjoy.
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Today Top Movers
PainReform Ltd. (PRFX) stock soared +26.58% to $9 in the pre-market trading after announcing that the Company received notice from Nasdaq on July 18, 2023, indicating that it has regained compliance with the minimum bid price requirement under Nasdaq Rules 5550(a)(2).
Ault Alliance Inc. (AMEX: AULT) shares are trading up +8.24% at $4.07 at the time of writing after announcing that its majority owned subsidiary, Giga-tronics, Inc. d/b/a Gresham Worldwide (OTCQB: GIGA) exceeded $10.2 million in bookings for the quarter ending June 30, 2023.
Nanobiotix S.A. (NBTX) grew over +7.78% at $7.62 in pre-market trading today. The company reported first patient injected in new phase 1/2 study evaluating Radiotherapy-Activated NBTXR3 Plus Anti-PD-1 for patients with Advanced Cancers.
United Airlines Holdings Inc. (UAL), a Airlines company, rose about +2.96% at $56.42 in pre-market trading Thursday after releasing Q2 financial results: achieved record-setting financial performance
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Top Upgrades & Downgrades
Exane BNP Paribas turned bullish on Prologis Inc. (PLD), upgrading the stock to "Outperform" and assigning a $141 price target, representing potential upside of 14.84% from Wednesday's close.
Anheuser-Busch InBev SA/NV (BUD) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $68.5, suggesting 17.23% additional upside for the stock.
Cadence Design Systems Inc. (CDNS) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $300. They changed their rating on CDNS to Buy from Hold in a recently issued research note.
Earlier Thursday Barclays reduced its rating on Skyworks Solutions Inc. (SWKS) stock to Equal-Weight from Overweight and assigned the price target to $115.
Deutsche Bank analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Avis Budget Group Inc. (CAR) has been changed to Hold from Buy and the new price target is set at $263.
Analysts at Edward Jones downgraded Activision Blizzard Inc. (ATVI)'s stock to Hold from Buy Thursday.
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Latest Insider Activity
BridgeBio Pharma Inc. (BBIO) 10% Owner VIKING GLOBAL INVESTORS LP announced the sale of shares taking place on Jul 18 at $35.00 for some 1,500,000 shares. The total came to more than $52.5 million.
Lemonade Inc. (LMND) Chief Insurance Officer Peters John Sheldon sold on Jul 17 a total 5,000 shares at $20.00 on average. The insider’s sale generated proceeds of almost $100000.0.
Fidelity National Information Services Inc. (FIS) Director Goldstein Jeffrey A declared the purchase of shares taking place on Jul 17 at $58.82 for some 929 shares. The transaction amount was around $54644.0.
Theseus Pharmaceuticals Inc. (THRX) 10% Owner Foresite Capital Management V, bought on Jul 17 a total 700,000 shares at $2.97 on average. The purchase cost the insider an estimated $2.08 million.
5 Stocks That Could Double or Triple in the Months Ahead
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Important Earnings
Top US earnings releases scheduled for today include KeyCorp (NYSE: KEY). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.31 per share from revenues of $1.63B in the three-month period.
Analysts expect Infosys Limited (NYSE:INFY) to report a net income (adjusted) of $0.18 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $4.58B.
American Airlines Group Inc. (AAL), due to announce earnings before the market opens today, is expected to report earnings of $1.58 per share from revenues of $13.74B 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.