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- Nov - 02 - NH - Morning Newsletter (with survey at top and bottom)
Nov - 02 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Geared Up for Market Dominance Today
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Good Morning!
Early Thursday, U.S. stock futures are on the ascent, poised to extend the gains that followed the Federal Reserve's decision to halt interest rate increases.The Fed's pause was widely anticipated, but the reassuring remarks from Chairman Jerome Powell have instilled greater confidence in investors that the central bank might be concluding its vigorous rate-hiking efforts.Market sentiment now reflects a 22% likelihood of a rate hike at the central bank's December meeting, down from 29% just a day earlier, as per the CME's FedWatch tool. Meanwhile, the likelihood of rates remaining unchanged until January's meeting has risen to 70% from 60%.The upcoming October jobs report, set for release on Friday, may again influence market dynamics regarding the future trajectory of interest rates. Additionally, Apple's earnings report after Thursday's closing bell is a focal point, particularly for the broader tech sector.
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Today Top Movers
LumiraDx Limited (LMDX) stock soared 36.92% to $0.112 in the pre-market trading following the 6-K filing with the SEC.
Cellectis ADR (NASDAQ: CLLS) shares are trading up 21.21% at $3.2 at the time of writing following the declarations from the company that it has entered into a joint research collaboration agreement with AstraZeneca.
Roku Inc (ROKU) grew over 19.2% at $71.16 in pre-market trading today after releasing third quarter 2023 financial results.
Lemonade Inc (LMND), a Insurance - Property & Casualty company, rose about 16.45% at $12.81 in pre-market trading Thursday. The company announced Q3 2023 financial results.
Three of the Top NASDAQ Stocks to Buy Under $10 Now
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Top Upgrades & Downgrades
Bernstein turned bullish on Chevron Corp. (CVX), upgrading the stock to Outperform and assigning a $182 price target, representing potential upside of 25.09% from Wednesday's close.
Methanex Corp. (MEOH) has won the favor of UBS's equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $45, suggesting 6.64% additional upside for the stock.
Silicon Laboratories Inc (SLAB) received an upgrade from analysts at Barclays. They changed their rating on SLAB to Equal-Weight from Underweight in a recently issued research note.
Earlier Thursday RBC Capital reduced its rating on Estee Lauder Cos., Inc. (EL) stock to Sector Perform from Outperform and assigned the price target to $115.
Bernstein analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Hess Corporation (HES) has been changed to Market Perform from Outperform and the new price target is set at $166.
Analysts at Jefferies downgraded Procore Technologies Inc (PCOR)'s stock to Hold from Buy Thursday.
Early Profit-Advantage on 40-cent Uranium Stock as Prices Soar
Uranium just blew past decade highs and it's going higher still. The stocks within it, particularly the small-caps, are heading to the stratosphere. Investors are lining up for the windfall of a lifetime. The last time we saw something like this, uranium prices roared all the way to $140. Well-timed investors could make 10X, 20X and even 30X gains.
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Latest Insider Activity
Atlassian Corporation (TEAM) Co-CEO, Co-Founder Cannon-Brookes Michael announced the sale of shares taking place on Oct 31 at $180.20 for some 8,241 shares. The total came to more than $1.49 million.
Liveperson Inc (LPSN) Interim CEO and CFO Collins John DeNeen sold on Oct 30 a total 615 shares at $2.45 on average. The insider’s sale generated proceeds of almost $1507.0.
Align Technology, Inc. (ALGN) President and CEO HOGAN JOSEPH M declared the purchase of shares taking place on Oct 31 at $188.00 for some 5,319 shares. The transaction amount was around $1.0 million.
Overstock.com Inc (OSTK) Director LEMONIS MARCUS bought on Nov 01 a total 6,455 shares at $15.47 on average. The purchase cost the insider an estimated $99,859.
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Important Earnings
Top US earnings releases scheduled for today include
Apple Inc (NASDAQ:AAPL)
. It will announce its Sep 2023 financial results. The company is expected to report earnings of $1.31 per share from revenues of $84.18B in the three-month period.
Analysts expect Opendoor Technologies Inc (NASDAQ:OPEN) to report a net income (adjusted) of -$0.15 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $1.02B.
Block Inc (SQ), due to announce earnings after the market closes today, is expected to report earnings of $0.47 per share from revenues of $5.43B 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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