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- May 22 - NH - Morning Newsletter (with survey at top and bottom)
May 22 - NH - Morning Newsletter (with survey at top and bottom)
Morning Market Espresso: Energize Your Investing Strategy Today
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Good Morning!In the dynamic world of stock trading, Monday morning kicked off with traders closely monitoring the ongoing negotiations surrounding the U.S. debt ceiling. The atmosphere remained relatively unchanged as stock futures experienced subtle movements.While the Dow Jones Industrial Average futures showed a modest gain of 7 points, the S&P 500 futures dipped slightly by 1.25 points. Nasdaq 100 futures saw a marginal decline of 0.13%.Last week, despite the uncertainties in Washington, stocks managed to rally. The Nasdaq Composite soared by an impressive 3.04%, and the S&P 500 saw a commendable gain of 1.65%. The Dow, too, contributed to the positive sentiment with a modest increase of 0.38%.In the midst of negotiations, President Joe Biden and House Speaker Kevin McCarthy are scheduled to meet on Monday to continue their discussions. The stakes are high, as Treasury Secretary Janet Yellen has warned that the U.S. could potentially default on its debt as early as June 1.Amidst this backdrop of potential economic turmoil, the market has displayed resilience, with tech stocks leading the charge. Even with the specter of a debt default and persistent inflation concerns, the market has managed to forge ahead. Savita Subramanian, a strategist from Bank of America, shared her optimistic outlook by raising her year-end target for the S&P 500 to 4,300 from 4,000. She believes that companies' focus on efficiency will bring stability to earnings and that current stock valuations are not excessive.As the trading day unfolds, investors remain attentive to the negotiations, inflation trends, and the overall resilience of the market, all while charting their own investment strategies.
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Today Top Movers
Immix Biopharma Inc. (IMMX) stock soared 31.1% to $2.15 in the pre-market trading after releasing Positive NXC-201 clinical results at ASGCT.
Celularity Inc. (NASDAQ: CELU) shares are trading up 21.68% at $0.7907 at the time of writing. The company recently reported that phase 1 data showing that MLASC Therapy in patients with Crohn’s disease may be a therapeutic option to manage inflammatory bowel diseases and prevent Fistula Formation.
ZyVersa Therapeutics Inc. (ZVSA) grew over 17.24% at $0.495 in pre-market trading today following the declarations of changes to its board of directors.
Hepion Pharmaceuticals Inc. (HEPA), a Biotechnology company, rose about 56.31% at $13.87 in pre-market trading Monday after announcing positive topline results from its recently completed Phase 2 ALTITUDE-NASH clinical trial.
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
B of A Securities turned bullish on Azul S.A. (AZUL), upgrading the stock to Neutral and assigning a $11 price target, representing potential upside of 30.8% from Friday's close.
Norfolk Southern Corporation (NSC) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $250, suggesting 14.81% additional upside for the stock.
Union Pacific Corporation (UNP) received an upgrade from analysts at Citigroup. They changed their rating on UNP to Buy from Neutral in a recently issued research note.
Earlier Monday Williams Trading reduced its rating on NIKE, Inc. (NKE) stock to Sell from Hold and assigned the price target to $95.
William Blair analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Foot Locker, Inc. (FL) has been changed to Sell from Hold and the new price target is set at $25.
Analysts at William Blair downgraded Hibbett, Inc. (HIBB)'s stock to Hold from Buy Monday.
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Latest Insider Activity
Cloudflare Inc. (NET) President and COO Zatlyn Michelle announced the sale of shares taking place on May 19 at $58.83 for some 12,820 shares. The total came to more than $0.75 million.
Coursera Inc. (COUR) Chief Revenue Officer Belsky Leah F. sold on May 17 a total 51,874 shares at $11.55 on average. The insider’s sale generated proceeds of almost $0.6 million.
MP Materials Corp. (MP) Chief Operating Officer Rosenthal Michael Stuart declared the purchase of shares taking place on May 19 at $21.21 for some 10,000 shares. The transaction amount was around $0.21 million.
Gen Digital Inc. (GEN) President Vlcek Ondrej bought on May 17 a total 300,000 shares at $15.79 on average. The purchase cost the insider an estimated $4.74 million.
146 Pounds of Graphite Needed for Each EV
Graphite - not lithium - is the largest component of lithium-ion batteries used in electric vehicles. That's why 97 more graphite mines will be needed by 2035 just to keep up with battery demand for the $7 trillion EV market.
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Important Earnings
Top US earnings releases scheduled for today include Nano-X Imaging Ltd. (NASDAQ: NNOX). It will announce its Mar 2023 financial results. The company is expected to report earnings of -$0.34 per share from revenues of $2.89M in the three-month period.
Analysts expect ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) to report a net income (adjusted) of $0 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $1.57B.
Global-e Online Ltd. (GLBE), due to announce earnings before the market opens today, is expected to report earnings of -$0.29 per share from revenues of $111.65M 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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