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- May 16 - NH - Morning Newsletter (with survey at top and bottom)
May 16 - NH - Morning Newsletter (with survey at top and bottom)
Morning Market Mastery: Stay Informed, Stay Profitable
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Good Morning!Wall Street braced itself as stock futures took a slight dip on Tuesday, casting a watchful gaze at the critical meeting between President Joe Biden and congressional leaders regarding the U.S. debt ceiling. The S&P 500 futures showed a 0.16% decrease, while Nasdaq 100 futures experienced a marginal fall. Similarly, Dow Jones Industrial Average futures retreated by 103 points, representing a 0.3% decline. The stakes are high as investors anxiously await progress on a debt ceiling deal before June 1, the looming date when the Treasury Department warns of potential default on U.S. debt obligations.Treasury Secretary Janet Yellen's recent warning of an "economic catastrophe" without an agreement only intensifies the urgency. The urgency was echoed on Monday as Yellen emphasized the possibility of a default as early as June 1, known as the X date, if the White House and Congress fail to reach a consensus.In the realm of economic data, all eyes are now fixed on Tuesday's unveiling of April's retail sales figures, scheduled for 8:30 a.m. ET. This eagerly anticipated report will provide a valuable glimpse into the state of consumer spending and serve as a vital indicator of economic health. Market experts, surveyed by Dow Jones, have forecasted a promising increase of 0.8%, adding to the optimism surrounding the retail sector.
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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Today Top Movers
VivoPower International PLC (VVPR) stock soared 69.44% to $0.7828 in the pre-market trading after announcing the definitive distribution agreement to distribute EV Fleet Charging Solutions.
Troika Media Group Inc. (NASDAQ: TRKA) shares are trading up +22.7% at $0.2427 at the time of writing following the declaration of financial results for the quarter ended March 31, 2023.
Bird Global Inc. (BRDS) grew over 14.58% at $0.1265 in pre-market trading today after filling 10-Q form with the SEC.
Yatsen Holding Limited (YSG), a Household & Personal Products company, rose about 12.91% at $1.04 in pre-market trading Tuesday. The company recently announced first quarter 2023 financial results.
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Canada's gold mining industry is expected to rise with better technology to access new deposits and increase recovery rates.
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Top Upgrades & Downgrades
Citigroup turned bullish on The Williams Companies Inc. (WMB), upgrading the stock to Buy and assigning a $36 price target, representing potential upside of 23.67% from Monday's close.
Gilead Sciences Inc. (GILD) has won the favor of BMO Capital's equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $100, suggesting 27.58% additional upside for the stock.
America Movil S.A.B. de C.V. (AMX) received an upgrade from analysts at New Street Research, who also set their one-year price target on the stock to $27. They changed their rating on AMX to Buy from Neutral in a recently issued research note.
Earlier Tuesday Morgan Stanley reduced its rating on Cullen/Frost Bankers Inc. (CFR) stock to Equal-Weight from Overweight and assigned the price target to $121.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Prosperity Bancshares Inc. (PB) has been changed to Underweight from Equal-Weight and the new price target is set at $60.
Analysts at Morgan Stanley downgraded Commerce Bancshares Inc. (CBSH)'s stock to Underweight from Equal-Weight Monday.
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Latest Insider Activity
American Homes 4 Rent (AMH) Chief Operating Officer Smith Bryan announced the sale of shares taking place on May 12 at $35.00 for some 25,000 shares. The total came to more than $0.88 million.
Robinhood Markets Inc. (HOOD) Chief Creative Officer Bhatt Baiju sold on May 11 a total 96,472 shares at $9.52 on average. The insider’s sale generated proceeds of almost $0.92 million.
Skillz Inc. (SKLZ) Chief Executive Officer Paradise Andrew declared the purchase of shares taking place on May 15 at $0.55 for some 157,344 shares. The transaction amount was around $86539.0.
Occidental Petroleum Corporation (OXY) 10% Owner BERKSHIRE HATHAWAY INC bought on May 15 a total 993,494 shares at $58.46 on average. The purchase cost the insider an estimated $58.08 million.
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Canadian Prime Minister, Justin Trudeau, visits Canada's only operating lithium mine and notes its importance as a critical mineral. There are big things happening for this lithium company - have you staked your claim in lithium? Click for more info on this exciting investment opportunity and...
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Important Earnings
Top US earnings releases scheduled for today include Sea Limited (NYSE: SE). It will announce its Mar 2023 financial results. The company is expected to report earnings of $0.39 per share from revenues of $3.06B in the three-month period.
Analysts expect Copart Inc. (NASDAQ: CPRT) to report a net income (adjusted) of $0.64 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2023 is predicted to come in at $1.01B.
Keysight Technologies Inc. (KEYS), due to announce earnings after the market closes today, is expected to report earnings of $1.95 per share from revenues of $1.38B 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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