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- Jul 24 - NH - Morning Newsletter (with survey at top and bottom)
Jul 24 - NH - Morning Newsletter (with survey at top and bottom)
Riding the Bull: Identifying 4 Stocks on an Upward Trajectory
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Good Morning!
Buckle up, investors! The stage is set for an action-packed week in the world of finance. U.S. futures are striding confidently higher on this thrilling Monday, and all eyes are fixed on a spectacular show featuring key earnings reports and a major policy decision from the Federal Reserve.The S&P 500 futures and Dow Jones Industrial Average futures are flexing their muscles, both up by a spirited 0.2%. Not to be outdone, the Nasdaq 100 futures are soaring with a remarkable 0.33% leap.Last Friday, the blue-chip Dow pulled off a jaw-dropping 10-day winning streak, marking its longest rally since 2017 with a mere 2.51-point gain. Meanwhile, the S&P 500 ended the week on a high note, riding the wave to 4,536.34, a 0.7% surge. The Nasdaq Composite, though, took a daring dive of 0.6% to reach 14,032.81 in the same period.But that's not all! All eyes are on the Federal Reserve, poised to make a major policy decision on Wednesday. Will they increase rates by a quarter percentage point? Investors are hanging on Chair Jerome Powell's every word as they seek to decode the central bank's plan for a soft landing in the economy.As the curtain rises, we'll also be treated to the eagerly-awaited personal consumption expenditures index, the Fed's preferred inflation gauge, later in the week. And on Thursday, brace yourselves for the advance estimate of second-quarter economic growth - economists predict a thrilling 1.7% annualized pace for the April-through-June period.And there's more! This week promises to be the busiest of earnings season, with Thursday being the most intense day. A star-studded lineup of around 40% of the Dow and 30% of the S&P 500 will be taking the stage to give their financial updates. From Alphabet and Microsoft to Meta, the tech giants are stepping into the spotlight. But it's not just tech - big pharma, industrial companies, and big oil are all gearing up for their grand performances.So grab your popcorn and get ready for a week of excitement and surprises - it's showtime on Wall Street!
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Today Top Movers
AMC Entertainment Holdings Inc. (AMC) stock soared 48.18% to $6.52 in the pre-market trading after a judge blocked AMC’s plan to convert its so-called APE shares into common stock.
POSCO Holdings Inc. (NYSE: PKX) shares are trading up 18.93% at $125.7 at the time of writing following PDS Planning Inc.'s acquisition of a stake in POSCO Holdings Inc.
Chevron Corporation (CVX) grew over +0.48% at $159.45 in pre-market trading today after releasing a second-quarter performance update on Sunday that was better than expected ahead of the oil major’s earnings announcement this week.
Steakholder Foods Ltd. (STKH), a Packaged Foods company, jumped about 10.23% at $0.92 in pre-market trading Monday after signing first ever multi-million-dollar agreement with GCC Governmental body to commercialize its 3D Bio-Printing Technology.
What a Bargain... 4 "Cheap Stocks"
It can be challenging to discover a bargain in the stock market.
Fortunately, there are still a few "cheap stocks" in markets that the majority of investors aren't aware of. In fact, our analysts found 4 bargain companies with a share price of $20 or less and gave all of them a "buy" or "strong buy" rating.
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Top Upgrades & Downgrades
Baird turned bullish on Netflix Inc. (NFLX), upgrading the stock to "Outperform" and assigning a $500 price target, representing potential upside of 16.96% from Friday's close.
Q2 Holdings Inc. (QTWO) has won the favor of Baird's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $39, suggesting 19.82% additional upside for the stock.
Coeur Mining Inc. (CDE) received an upgrade from analysts at Canaccord Genuity, who also set their one-year price target on the stock to $3.75. They changed their rating on CDE to Buy from Hold in a recently issued research note.
Earlier Monday UBS reduced its rating on Tesla Inc. (TSLA) stock to Neutral from Buy and assigned the price target to $270.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Twilio Inc. (TWLO) has been changed to Underperform from Sector Perform and the new price target is set at $50.
Analysts at Piper Sandler downgraded American Express Company (AXP)'s stock to Underweight from Neutral Monday.
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Latest Insider Activity
Stitch Fix Inc. (SFIX) Chief Legal Officer O'Connor Casey announced the sale of shares taking place on Jul 20 at $4.21 for some 9,262 shares. The total came to more than $39008.0.
Moderna Inc. (MRNA) Director AFEYAN NOUBAR sold on Jul 19 a total 15,000 shares at $125.48 on average. The insider’s sale generated proceeds of almost $1.88 million.
Asana Inc. (ASAN) President, CEO, & Chair Moskovitz Dustin A. declared the purchase of shares taking place on Jul 20 at $22.66 for some 200,000 shares. The transaction amount was around $4.53 million.
1847 Holdings LLC (EFSH) 10% Owner Strategic Risk, LLC. bought on Jul 20 a total 72,327 shares at $0.19 on average. The purchase cost the insider an estimated $13,554.
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Important Earnings
Top US earnings releases scheduled for today include Cleveland-Cliffs Inc. (NYSE:CLF). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.7 per share from revenues of $5.8B in the three-month period.
Analysts expect AGNC Investment Corp. (NASDAQ:AGNC) to report a net income (adjusted) of $0.62 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $378.86M.
Cadence Design Systems Inc. (CDNS), due to announce earnings after the market closes today, is expected to report earnings of $1.18 per share from revenues of $974.86M 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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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.