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- Jul 31 - NH - Morning Newsletter (with survey at top and bottom)
Jul 31 - NH - Morning Newsletter (with survey at top and bottom)
Profit Bound: Your Inside Look at 4 Stocks Poised for Gains
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Good Morning!
A July to remember for Wall Street! Stock futures have been on a thrilling roller coaster ride, inching up with excitement on this bright Monday morning. The Dow Jones Industrial Average is leading the way with a spirited 0.1% gain, followed closely by the S&P 500, also rising by 0.1%. Meanwhile, the Nasdaq-100 futures are showing their competitive spirit by being marginally lower, still keeping us all on the edge of our seats.This thrilling month has been full of positive surprises, with the S&P index up by a stunning 3%, ready to mark its fifth consecutive month of gains! It's an extraordinary achievement, the first time since August 2021, when the index rocked a seven-month winning streak. But wait, there's more! The tech-savvy Nasdaq Composite is also playing a starring role, boasting a fantastic 3.8% gain this month. It's now lined up for its fifth straight winning month, keeping the tech enthusiasts and investors brimming with anticipation.And let's not forget about the blue-chip hero, the Dow! This powerhouse has flexed its muscles with a mighty 3.1% surge in July. In fact, just last week, it showcased its prowess with a remarkable 13-day advance, matching a streak of gains dating all the way back to 1987. What a show of strength!Now, the spotlight is shifting towards the eagerly awaited big jobs report of the week. Investors are gearing up for this crucial data, with economists polled by Dow Jones predicting a remarkable addition of 200,000 jobs to the U.S. economy in July. After a strong showing with 209,000 nonfarm payrolls added in June, everyone is eagerly anticipating the next exciting chapter in the economic story.
Investors have all eyes on the "Jewel Of The Lithium Triangle."
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They're surrounded by multi-billion dollar lithium producers and established infrastructure in the coveted "Jewel Of The Lithium Triangle."
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Today Top Movers
Apellis Pharmaceuticals Inc. (APLS) stock soared 13.99% to $36.5 in the pre-market trading after announcing data from the GALE extension study following 30 months of continuous treatment with SYFOVRE® (pegcetacoplan injection), the first and only FDA approved treatment for geographic atrophy (GA) secondary to age-related macular degeneration (AMD).
China Natural Resources Inc. (NASDAQ: CHNR) shares are trading up 55.61% at $3.05 at the time of writing following the declaration from the company it has agreed to sell all outstanding shares of Precise Space-Time Technology Limited to Feishang Group Limited.
FOXO Technologies Inc. (FOXO) grew over 40.94% at $0.1883 in pre-market trading today after filing a form with SEC.
Barnes & Noble Education Inc. (BNED), a Specialty Retail company, rose about 22.4% at $1.53 in pre-market trading Monday. The company recently declared that it has entered an agreement with key financial stakeholders and strategic partners to strengthen financial position and support growth initiatives.
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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Top Upgrades & Downgrades
Citigroup turned bullish on Ionis Pharmaceuticals Inc. (IONS), upgrading the stock to "Buy" and assigning a $60 price target, representing potential upside of 73.41% from Friday's close.
Chevron Corporation (CVX) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $187, suggesting 17.70% additional upside for the stock.
Trip.com Group Limited (TCOM) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $50. They changed their rating on TCOM to Overweight from Neutral in a recently issued research note.
Earlier Monday Jefferies reduced its rating on Ford Motor Company (F) stock to Hold from Buy and assigned the price target to $15.
Citigroup analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Tencent Music Entertainment Group (TME) has been changed to Neutral from Buy and the new price target is set at $7.5.
Analysts at RBC Capital downgraded CSX Corporation (CSX)'s stock to Sector Perform from Outperform Monday.
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Latest Insider Activity
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer announced the sale of shares taking place on Jul 25 at $295.19 for some 722 shares. The total came to more than $0.21 million.
Alphabet Inc. (GOOG) Director ARNOLD FRANCES sold on Jul 28 a total 230 shares at $130.95 on average. The insider’s sale generated proceeds of almost $30118.0.
Yellow Corporation (YELL) 10% Owner MFN Partners, LP declared the purchase of shares taking place on Jul 28 at $0.65 for some 3,022,488 shares. The transaction amount was around $1.96 million.
Eos Energy Enterprises Inc. (EOSE) Chief Executive Officer Mastrangelo Joe bought on Jul 28 a total 31,199 shares at $2.23 on average. The purchase cost the insider an estimated $69,574.
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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Important Earnings
Top US earnings releases scheduled for today include SoFi Technologies Inc. (NASDAQ:SOFI). It will announce its Jun 2023 financial results. The company is expected to report earnings of -$0.06 per share from revenues of $478.59M in the three-month period.
Analysts expect Apellis Pharmaceuticals Inc. (NASDAQ:APLS) 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 $70.25M.
ON Semiconductor Corporation (ON), due to announce earnings before the market opens today, is expected to report earnings of $1.21 per share from revenues of $2.02B 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.