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- Nov - 03 - NH - Morning Newsletter (with survey at top and bottom)
Nov - 03 - NH - Morning Newsletter (with survey at top and bottom)
Kickstart Your Morning with These 4 Stocks on the Rise
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Good Morning!
Stock market futures for the S&P 500, NASDAQ, and Dow Jones Industrial Average were mixed early Friday after four days of straight gains, with investors eyeing October's jobs report. Apple's muted outlook weighs on tech stocks, dragging down the S&P 500 despite its strongest weekly gain of the year.Stocks in the United States have performed well this week, and November has started off strong. But the jobs data will determine whether this week is great or average. Fed rate pause ignites stock market rally, suggesting hiking cycle is over and increasing confidence that the central bank will not raise rates further.Economists' expectations of a slowdown in jobs growth could further solidify the view that the Fed is done hiking interest rates and could give the market another boost heading into the weekend.
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Today Top Movers
Block Inc (SQ) stock soared 16.64% to $51.3 in the pre-market trading after announcing third quarter 2023 results.
DigitalOcean Holdings Inc (NYSE: DOCN) shares are trading up 20.91% at $25.67 at the time of writing following the announcement of Q3 2023 financial results.
DermTech Inc (DMTK) grew over 15% at $1.61 in pre-market trading today after reporting third-quarter 2023 financial results.
Sprout Social Inc (SPT), a Software - Application company, rose about 12.52% at $47.9 in pre-market trading Friday. The company declared third quarter 2023 financial results.
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Top Upgrades & Downgrades
Raymond James turned bullish on Regeneron Pharmaceuticals, Inc. (REGN), upgrading the stock to Outperform and assigning a $950 price target, representing potential upside of 16.02% from Thursday's close.
Uber Technologies Inc (UBER) has won the favor of Keybanc's equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $60, suggesting 26.85% additional upside for the stock.
Moderna Inc (MRNA) received an upgrade from analysts at HSBC, who also set their one-year price target on the stock to $69. They changed their rating on MRNA to Hold from Reduce in a recently issued research note.
Earlier Friday JP Morgan reduced its rating on Fortinet Inc (FTNT) stock to Neutral from Overweight and assigned the price target to $52.
Keybanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for BILL Holdings Inc (BILL) has been changed to Sector Weight from Overweight.
Analysts at JP Morgan downgraded Fox Corporation (FOXA)'s stock to Neutral from Overweight Friday.
A North American Lithium Corporation Still On the Rise
North American Lithium Corporation's Zeus Project found a reserve projected to be the 4th largest in the world for this sought after resource.
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Latest Insider Activity
Resmed Inc. (RMD) Global General Counsel Rider Michael J announced the sale of shares taking place on Nov 01 at $143.42 for some 25 shares. The total came to more than $3585.0.
Mannkind Corp (MNKD) Chief Executive Officer Castagna Michael sold on Nov 01 a total 10,000 shares at $4.25 on average. The insider’s sale generated proceeds of almost $42500.0.
LendingClub Corp (LC) Director Selleck Erin declared the purchase of shares taking place on Oct 31 at $5.24 for some 10,000 shares. The transaction amount was around $52425.0.
Intel Corp. (INTC) CEO GELSINGER PATRICK P bought on Nov 01 a total 6,775 shares at $36.80 on average. The purchase cost the insider an estimated $249,333.
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Important Earnings
Top US earnings releases scheduled for today include fuboTV Inc (NYSE:FUBO). It will announce its Sep 2023 financial results. The company is expected to report earnings of -$0.32 per share from revenues of $286.18M in the three-month period.
Analysts expect Dominion Energy Inc (NYSE:D) to report a net income (adjusted) of $0.79 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $4.67B.
Enbridge Inc (ENB), due to announce earnings before the market opens today, is expected to report earnings of $0.44 per share from revenues of $8.25B 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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