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- May 17 - NH - Morning Newsletter (with survey at top and bottom)
May 17 - NH - Morning Newsletter (with survey at top and bottom)
Stock Market Sunrise: Fuel Your Portfolio with Top Performers
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Good Morning!Investors eagerly awaited updates on the ongoing negotiations between congressional leaders and President Joe Biden regarding the U.S. debt ceiling, setting the stage for a hopeful market sentiment. Wednesday's stock futures reflected this anticipation, with the Dow Jones Industrial Average futures gaining a promising 91 points, equivalent to 0.3%. The S&P 500 futures and Nasdaq-100 futures followed suit, recording gains of 0.2% and 0.1%, respectively.In response to the pressing matter, President Biden directed his staff to engage in daily meetings, signaling an earnest commitment to resolving outstanding issues. The negotiations were deemed significant enough for the president to cancel a leg of his upcoming international trip, underscoring the gravity of the situation.Nonetheless, concerns lingered among investors, and the previous day's regular trading session witnessed a downturn. The Dow led the decline, experiencing a 1% drop, while the S&P 500 and Nasdaq Composite registered losses of approximately 0.6% and 0.2%, respectively.The specter of a potential default added to investor unease, prompting Treasury Secretary Janet Yellen to reiterate the urgency of raising the debt limit immediately. Furthermore, disappointing quarterly revenue and a lower full-year performance forecast from Home Depot, a Dow member, further dampened market sentiment.In economic news, April's retail sales fell short of expectations set by economists polled by Dow Jones, adding to the mixed sentiment surrounding the market. As developments unfold in the ongoing negotiations and economic indicators continue to shape market dynamics, investors eagerly anticipate the next chapter in this intriguing market narrative.
Will These 5 Stocks Explode?
Sudden spikes in share price can come from any number of sources, including positive news from the company or rumors of a potentially lucrative buyout by a larger company. But our analysts say these 5 Microcap Stocks are poised to soar after their Q2 earnings announcement.
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Today Top Movers
WeTrade Group Inc. (WETG) stock soared 72.37% to $0.0655 in the pre-market trading following the filling of 8-K from with the SEC.
HTG Molecular Diagnostics Inc. (NASDAQ: HTGM) shares are trading up 16.34% at $2.99 at the time of writing after reporting achievement of another technical milestone in its drug discovery business.
Ambrx Biopharma Inc. (AMAM) grew over 10.29% at $15 in pre-market trading today. The company’s Chief Executive Officer and President, Daniel J. O’Connor will present a corporate overview at the JMP Securities Life Sciences Conference and RBC Capital Markets Global Healthcare Conference taking place in New York City on May 16th and 17th, respectively.
Immutep Limited (IMMP), a Biotechnology company, rose about 19.5% at $1.9 in pre-market trading Wednesday after receiving positive feedback from FDA on late-stage clinical development of Eftilagimod Alpha in Non-Small Cell Lung Cancer.
Copper Prices Expected To Soar - Are You Ready?
Investors - this copper company continues to find new targets and is poised for growth. Copper is the third most-consumed industrial metal in the world and massive infrastructure spending is expected to drive the price of copper to new all-time highs. This company has solid market fundamentals and a proven track record.
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Top Upgrades & Downgrades
Credit Suisse turned bullish on iQIYI Inc. (IQ), upgrading the stock to Outperform and assigning a $8 price target, representing potential upside of 45.59% from Tuesday's close.
Wynn Resorts Limited (WYNN) has won the favor of Barclays' equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $135, suggesting 31% additional upside for the stock.
Tencent Music Entertainment Group (TME) received an upgrade from analysts at Macquarie, who also set their one-year price target on the stock to $7.4. They changed their rating on TME to Neutral from Underperform in a recently issued research note.
Earlier Wednesday Credit Suisse reduced its rating on Knight-Swift Transportation Holdings Inc. (KNX) stock to Neutral from Outperform and assigned the price target to $60.
Mizuho analysts reduced their investment ratings, saying in research reports covered by the media that its rating for WeWork Inc. (WE) has been changed to Neutral from Buy and the new price target is set at $0.3.
Analysts at Credit Suisse downgraded Werner Enterprises Inc. (WERN)'s stock to Neutral from Outperform Wednesday.
The Ignored EV Story Few Investors Know About
Lithium may grab all the headlines, but the average electric vehicle requires 146 pounds of the mineral graphite. With no producing graphite mines in North America, the U.S. government is desperate for more domestic sources of the metal to feed the EV battery supply chain.
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Latest Insider Activity
Alphabet Inc. (GOOG) 10% Owner GV 2019 GP, L.L.C. announced the sale of shares taking place on May 15 at $12.74 for some 157,952 shares. The total came to more than $2.01 million.
Snap Inc. (SNAP) Chief Operating Officer Hunter Jerry James sold on May 16 a total 64,409 shares at $8.51 on average. The insider’s sale generated proceeds of almost $0.55 million.
Ault Alliance Inc. (AULT) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on May 12 at $0.09 for some 400,000 shares. The transaction amount was around $34640.0.
Luminar Technologies Inc. (LAZR) Chairperson, President & CEO Russell Austin bought on May 15 a total 1,300,000 shares at $5.83 on average. The purchase cost the insider an estimated $7.57 million.
Forbes mag says this strategy "like finding money in the street"
And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday.
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Important Earnings
Top US earnings releases scheduled for today include The TJX Companies Inc. (NYSE: TJX). It will announce its Apr 2023 financial results. The company is expected to report earnings of $0.71 per share from revenues of $11.82B in the three-month period.
Analysts expect Target Corporation (NYSE: TGT) to report a net income (adjusted) of $1.76 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2023 is predicted to come in at $25.29B.
Innoviz Technologies Ltd. (INVZ), due to announce earnings before the market opens today, is expected to report earnings of -$0.22 per share from revenues of $1.5M 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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