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- Oct - 02 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 02 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Brief: Don't Miss Out on Market Moves
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Good Morning!
On Monday, stock futures exhibited minimal changes following a temporary agreement reached by U.S. legislators to avert a government shutdown. Dow Jones Industrial Average futures showed a modest decline of 15 points, equivalent to 0.04%, while S&P 500 futures hovered around the neutral mark. Nasdaq-100 futures displayed a slight increase of 0.1%, although earlier in the session, Dow futures had surged by over 100 points.The Senate successfully passed a continuing resolution just hours before a midnight deadline on Saturday, which was subsequently signed into law by President Joe Biden. This bill ensures the government's continued operation for an extended period of 45 days, providing lawmakers with additional time to finalize funding legislation.In the coming days, investors will keep a close eye on economic data, including figures related to purchasing and construction spending scheduled for release on Monday. As the week progresses, attention will shift to a series of reports that offer valuable insights into the labor market's health, with Friday's highly anticipated monthly payroll data taking center stage.
Free Report: Three of the Top NASDAQ Stocks to Buy Under $10
These stocks are flying well under the radar. But that may not be the case for long. The market may simply be overlooking a red-hot opportunity -- as they're doing with these three stocks.
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Today Top Movers
Bionomics Limited (BNOX) stock price surged 22.59% to $3.31 in the pre-market trading. The company recently released positive topline results from its Phase 2b ATTUNE trial of BNC210 for the treatment of PTSD.
Spruce Power Holding Corporation (SPRU) stock soared 10.29% to $0.75 in the pre-market trading after announcing resolution of SEC Inquiry of XL Fleet.
Cellectar Biosciences Inc (NASDAQ: CLRB) shares are trading up 13.64% at $3 at the time of writing after announcing significant advancements to its global intellectual property (IP) portfolio.
Invitae Corp (NVTA) grew over 46.35% at $0.8857 in pre-market trading today after the FDA greenlighted its Invitae Common Hereditary Cancers Panel, a first-of-its-kind test to identify cancer-related genes.
Wall Street Caliber A.I. for the "Little Guy"
For years, Wall Street's been using A.I. to gain an edge. Now, a top tech company is "leveling the playing field."
For over six years now, they've been developing a cutting edge A.I. algorithm that can predict future stock prices with astonishing accuracy.
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Top Upgrades & Downgrades
Evercore ISI Group turned bullish on Rivian Automotive Inc (RIVN), upgrading the stock to Outperform and assigning a $35 price target, representing potential upside of 39.72% from Friday's close.
Datadog Inc (DDOG) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $115, suggesting 21.83% additional upside for the stock.
Insulet Corporation (PODD) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $240. They changed their rating on PODD to Buy from Hold in a recently issued research note.
Earlier Monday JP Morgan reduced its rating on Chubb Limited (CB) stock to Neutral from Overweight and assigned the price target to $250.
Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Solaredge Technologies Inc (SEDG) has been changed to Equal-Weight from Overweight and the new price target is set at $152.
Analysts at Piper Sandler downgraded Splunk Inc (SPLK)'s stock to Neutral from Overweight Monday.
A 10,000% Dividend?!?
This is easily the #1 Oil Play for 2023 and beyond.
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Latest Insider Activity
Natera Inc (NTRA) CHIEF FINANCIAL OFFICER Brophy Michael Burkes announced the sale of shares taking place on Sep 29 at $45.98 for some 1,372 shares. The total came to more than $63080.0.
Roivant Sciences Ltd (ROIV) President & COO Venker Eric sold on Sep 27 a total 500,000 shares at $13.02 on average. The insider’s sale generated proceeds of almost $6.51 million.
Gatos Silver Inc (GATO) Chief Executive Officer Andres Dale declared the purchase of shares taking place on Sep 28 at $5.15 for some 25,000 shares. The transaction amount was around $0.13 million.
Sportsman's Warehouse Holdings Inc (SPWH) Director MCBEE RICHARD D bought on Sep 28 a total 22,413 shares at $4.05 on average. The purchase cost the insider an estimated $90,840.
We Could Be Less Than 3 Months Out from an AI Superevent
According to one of the world's top AI scientists, there's a major event coming as soon as three months from today that could cause expensive tech stocks like Microsoft, Google, and NVIDIA to double or triple in price in the months ahead… but whatever you do, DON'T go all in on big tech before you have all the details.
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Important Earnings
McCormick & Co. Inc. (NYSE:MKC). It will announce its Aug 2023 financial results. The company is expected to report earnings of $0.65 per share from revenues of $1.7B in the three-month period.
Analysts expect Cal-Maine Foods Inc. (NASDAQ:CALM) to report a net income (adjusted) of $0.33 per share, when the company releases its quarterly results tomorrow. Revenue for the fiscal quarter ended Aug 2023 is predicted to come in at $479.52M.
Trinity Biotech Plc ADR (TRIB), due to announce earnings before the market opens tomorrow, is expected to report earnings of -$0.09 per share from revenues of $13.5M 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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