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- May 10 - NH - Morning Newsletter (with survey at top and bottom)
May 10 - NH - Morning Newsletter (with survey at top and bottom)
Unlock the Market's Potential: Your Morning Stock Brief
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Good Morning!Wall Street was set for a lower opening on Wednesday as investors await the release of U.S. inflation data, which could offer insights into the future trajectory of the U.S. Federal Reserve's interest rates. The April consumer price data for the United States is scheduled to be announced at 1230 GMT, with economists anticipating that the headline CPI will remain unchanged at a yearly rate of 5%, while the core CPI is expected to exhibit a slight moderation to 5.5%. However, any unexpected increase could unsettle predictions of declining interest rates. On Tuesday, U.S. stock indexes concluded on a negative note as investors adopted a more cautious approach in anticipation of the U.S. consumer price index report and a meeting among U.S. political leaders to discuss the debt ceiling. Concerns about a potential government default are hanging over Washington, with a looming deadline of June 1 if Congress fails to take action to resolve the impasse.The DJIA lost 56.88 points or 0.17%, to settle at 33,561.81, the S&P 500 moved down 18.95 points or 0.46%, to end the day at 4,119.17 and the Nasdaq Composite saw a drop of 77.36 points or 0.63%, to close at 12,179.55.
Investors! This Is A Lithium Company To Watch
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Today Top Movers
CTI BioPharma Corp. (CTIC) stock soared 84.44% to $8.89 in the pre-market trading following the news that Swedish orphanage Biovitrum AB has agreed to buy CTI BioPharma Corp. in a $1.7 billion deal.
Upstart Holdings Inc. (NASDAQ: UPST) shares are trading up 32.72% at $18.7 at the time of writing after releasing the first quarter 2023 results.
Protalix BioTherapeutics Inc. (PLX) grew over 15.41% at $3.37 in pre-market trading today after announcing that the U.S. Food and Drug Administration has approved ELFABRIO in the United States for the treatment of adult patients with Fabry disease.
Alto Ingredients Inc. (ALTO), a Specialty Chemicals company, rose about 33.76% at $2.1 in pre-market trading Wednesday after reporting first quarter 2023 results.
Investors are cashing in on the green-energy revolution in 2023 as the world seeks to attain net-zero! And they're doing so by investing in select small-cap mineral exploration companies that are set to be the NEXT suppliers of the green-energy sources the world needs most in the clean-energy transition. We've done our research… and we've found an under-the-radar mining stock — currently trading below US $0.20 per share — that just confirmed MULTIPLE salt dome anomalies on its properties.
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Top Upgrades & Downgrades
Jefferies turned bullish on Nektar Therapeutics (NKTR), upgrading the stock to Hold and assigning a $1 price target, representing a potential upside of 30.09% from Tuesday's close.
Halozyme Therapeutics Inc. (HALO) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $46, suggesting a 50.43% additional upside for the stock.
The Hain Celestial Group Inc. (HAIN) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $16. They changed their rating on HAIN to Neutral from Underweight in a recently issued research note.
Earlier Wednesday Goldman Sachs reduced its rating on Southern Copper Corporation (SCCO) stock to Sell from Neutral and assigned the price target to $66.
TD Cowen analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Nikola Corporation (NKLA) has been changed to Market Perform from Outperform and the new price target is set at $1.
Analysts at TD Cowen downgraded Dutch Bros Inc. (BROS)'s stock to Market Perform from Outperform Wednesday.
Five Top Tech Stocks to Own Now
Warren Buffett says that a "climate of fear is your friend when investing; a euphoric world is your enemy."
"The time to buy is when there's blood in the streets, even if the blood is your own."
With a good deal of fear priced into the tech sector, here are five hot stocks to consider.
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Latest Insider Activity
Advanced Micro Devices Inc. (AMD) Chief Technology Officer & EVP Papermaster Mark D announced the sale of shares taking place on May 05 at $85.14 for some 30,000 shares. The total came to more than $2.55 million.
Devon Energy Corporation (DVN) EVP and General Counsel CAMERON DENNIS C sold on May 05 a total of 8,292 shares at $49.97 on average. The insider’s sale generated proceeds of almost $0.41 million.
SoFi Technologies Inc. (SOFI) Chief Executive Officer Noto Anthony declared the purchase of shares taking place on May 05 at $5.12 for some 30,000 shares. The transaction amount was around $0.15 million.
Alphabet Inc. (GOOG) Member of 10% Group GV 2021 GP, L.L.C. bought on May 05 a total of 7,286 shares at $26.98 on average. The purchase cost the insider an estimated $196,584.
This Graphite Company is leading the Electric Vehicle Revolution
Graphite has emerged as a vital material in the resource sector, gaining prominence primarily due to its essential role in electric vehicle (EV) batteries.
We found a little-known graphite company exploring the potential of this mineral and is currently flying under Wall Street's radar.
This company's operations are positioning them as a leader in a critical industry with growing demand.
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Important Earnings
Top US earnings releases scheduled for today include Roblox Corporation (NYSE: RBLX). It will announce its Mar 2023 financial results. The company is expected to report earnings of -$0.4 per share from revenues of $765.94M in the three-month period.
Analysts expect Teva Pharmaceutical Industries Limited (NYSE: TEVA) to report a net income (adjusted) of $0.56 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $3.63B.
The Wendy's Company (WEN), due to announce earnings before the market opens today, is expected to report earnings of $0.2 per share from revenues of $522.43M 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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