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- Jul 28 - NH - Morning Newsletter (with survey at top and bottom)
Jul 28 - NH - Morning Newsletter (with survey at top and bottom)
Rise and Shine: Today's 4 Stock Picks that Could Brighten Your Portfolio
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Good Morning!
The U.S. stock market is gearing up for an exciting Friday morning after a bit of a dip the previous day. The futures are pointing towards a positive open, and it seems like the market is brimming with anticipation for some crucial economic data.Early on Friday, the Dow Jones Industrial Average futures surged by a promising 117 points, a 0.3% increase. Don't worry about Thursday's 13-day winning streak break; the index appears to be holding steady for the week. As for the S&P 500 futures, they're up by 0.5%, and the Nasdaq 100 futures are even more impressive with an 0.8% gain. Looks like they're all making strides to recover from the small losses experienced the day before.But what's really got investors on the edge of their seats is the major event scheduled for today. Hold your breath for the publication of the personal consumption expenditures price index for June, the Federal Reserve's go-to measure for price growth assessment. Forecasters are predicting a slowdown in headline PCE to a 3% annual pace for June, compared to the 3.8% seen in May. Now, that's some crucial information that can sway the market.However, the spotlight won't be solely on the PCE. The Bureau of Labor Statistics will also be releasing the quarterly Employment Cost Index, and it's expected to reveal that hourly labor costs to employers grew at a stellar 4.8% annual rate during the second quarter. And not to mention, a solid 1.1% growth quarter to quarter. This data could be a game-changer and have a significant impact on the market's trajectory.
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Today Top Movers
SIGA Technologies Inc. (SIGA) stock soared 29.27% to $6.58 in the pre-market trading due to the U.S. Department of Health and Human Services exercising procurement options for approximately $113 million worth of oral TPOXX® treatment courses and approximately $25 million worth of IV TPOXX® treatment courses.
Homology Medicines Inc. (NASDAQ: FIXX) shares are trading up 18.09% at $1.11 at the time of writing following the declaration from the company that it has completed a review of its business, and the Board of Directors has approved a plan to evaluate strategic alternatives to maximize shareholder value.
First Solar Inc. (FSLR) grew over 9% at $216.7 in pre-market trading today. The company recently released second quarter 2023 financial results.
Coursera Inc. (COUR), a Education & Training Services company, rose about 15.6% at $15.04 in pre-market trading Friday after reporting second quarter 2023 financial results.
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Top Upgrades & Downgrades
Stifel turned bullish on Crocs Inc. (CROX), upgrading the stock to "Buy" and assigning a $130 price target, representing potential upside of 27.07% from Thursday's close.
Coursera Inc. (COUR) has won the favor of Cantor Fitzgerald's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $17, suggesting 30.66% additional upside for the stock.
ASE Technology Holding Co. Ltd. (ASX) received an upgrade from analysts at Goldman Sachs. They changed their rating on ASX to Buy from Neutral in a recently issued research note.
Earlier Friday Raymond James reduced its rating on Southwest Airlines Co. (LUV) stock to Outperform from Strong Buy and assigned the price target to $40.
Bernstein analysts reduced their investment ratings, saying in research reports covered by the media that its rating for ASML Holding N.V. (ASML) has been changed to Market Perform from Outperform.
Analysts at Piper Sandler downgraded Valley National Bancorp (VLY)'s stock to Neutral from Overweight Friday.
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Latest Insider Activity
Playtika Holding Corp. (PLTK) 10% Owner Chau On announced the sale of shares taking place on Jul 27 at $12.26 for some 300,000 shares. The total came to more than $3.68 million.
Natera Inc. (NTRA) CHIEF FINANCIAL OFFICER Brophy Michael Burkes sold on Jul 25 a total 2,347 shares at $46.58 on average. The insider’s sale generated proceeds of almost $0.11 million.
RTX Corporation (RTX) Director Winnefeld James A Jr declared the purchase of shares taking place on Jul 26 at $86.82 for some 100 shares. The transaction amount was around $8682.0.
Heron Therapeutics Inc. (HRTX) Director Morgan Adam bought on Jul 21 a total 2,486,744 shares at $1.37 on average. The purchase cost the insider an estimated $3.41 million.
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Important Earnings
Top US earnings releases scheduled for today include Exxon Mobil Corporation (NYSE:XOM). It will announce its Jun 2023 financial results. The company is expected to report earnings of $2.01 per share from revenues of $80.19B in the three-month period.
Analysts expect The Procter & Gamble Company (NYSE:PG) to report a net income (adjusted) of $1.32 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $19.98B.
Newell Brands Inc. (NWL), due to announce earnings before the market opens today, is expected to report earnings of $0.13 per share from revenues of $2.15B 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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