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- Oct - 03 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 03 - NH - Morning Newsletter (with survey at top and bottom)
Riding the Bull: Identifying 4 Stocks on an Upward Trajectory
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Good Morning!
Stock futures exhibited limited movement on Tuesday, with a watchful gaze on the escalating Treasury yields. Futures linked to the S&P 500 made marginal gains of less than 0.1%, while Nasdaq 100 futures experienced a slight decline of 0.1%. Meanwhile, Dow Jones Industrial Average futures showed a modest climb of 22 points, equivalent to 0.1%. The 10-year Treasury yield stood at 4.7%, just below a peak last seen in October 2007 during the previous session. Over the past month, this benchmark yield has surged as traders assess the potential for a prolonged period of tighter Federal Reserve policies. On the economic data front, investors are eagerly awaiting the release of the Job Openings and Labor Turnover Survey for August, scheduled for Tuesday morning, with economists surveyed by Dow Jones forecasting 8.8 million job openings.
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Today Top Movers
SIGNA Sports United N.V. (SSU) stock soared +21.45% to $0.188 in the pre-market trading. The most recent rating by Citigroup, on July 10, 2023, is a Sell. SIGNA Sports United N.V. announces to Accelerates Strategic Realignment and Restructuring Program.
Alx Oncology Holdings Inc (NASDAQ: ALXO) shares are trading up +52.39% at $7.33 at the time of writing after reported positive prespecified interim Phase 2 data from its ASPEN-06 clinical trial. Company’s 52-week ranged between $3.94 to $13.64. Analysts have a consensus price target of $25.
ODDITY Tech Ltd. (ODD) grew over +17.45% at $32.98 in pre-market trading today. ODDITY Tech Expects to Report Record Third Quarter Results, Beating Revenue Guidance.
POINT Biopharma Global Inc (PNT), a Biotechnology company, up about 85.34% at $6.68 in pre-market trading on Tuesday after acquiring it by Lilly.
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Top Upgrades & Downgrades
Jefferies turned bullish on Wingstop Inc (WING), upgrading the stock to "Hold" and assigning a $$170 price target, representing potential downside of -8.42% from Monday's close.
Warner Music Group Corp (WMG) has won the favor of UBS's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $$37, suggesting 15.97% additional upside for the stock.
Reynolds Consumer Products Inc (REYN) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $$30. They changed their rating on REYN to Neutral from Sell in a recently issued research note.
Earlier Tuesday Redburn Atlantic reduced its rating on Getty Images Holdings Inc (GETY) stock to Neutral from Buy and assigned the price target to $6.
UBS analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Emerson Electric Co. (EMR) has been changed to Neutral from Buy and the new price target is set at $$104.
Analysts at Keybanc downgraded Airbnb Inc (ABNB)'s stock to Secter-weight from Overweight on Tuesday.
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Latest Insider Activity
Alphabet Inc (GOOG) VP, Chief Accounting Officer O'Toole Amie Thuener announced the sale of shares taking place on Oct 02 at $132.09 for some 420 shares. The total came to more than $55478.0.
Roivant Sciences Ltd (ROIV) 10% Owner SVF Investments (UK) Ltd sold on Sep 28 a total 10,000,000 shares at $12.60 on average. The insider’s sale generated proceeds of almost $126.0 million.
MSP Recovery Inc (LIFW) Chief Legal Officer Quesada Frank Carlos declared the purchase of shares taking place on Sep 29 at $0.22 for some 6,868,132 shares. The transaction amount was around $1.5 million.
Dollar General Corp. (DG) EVP & Chief Information Ofc Wenkoff Carman R bought on Sep 29 a total 2,000 shares at $106.25 on average. The purchase cost the insider an estimated $212,500.
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Important Earnings
Top US earnings releases scheduled for today include Broadstone Net Lease Inc (NYSE:BNL). It will announce its Sep 2023 financial results. The company is expected to report earnings of $0.16 per share from revenues of $111.37M 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 shortly. Revenue for the fiscal quarter ended Aug 2023 is predicted to come in at $479.52M.
McCormick & Co. Inc. (MKC), due to announce earnings after the market closes today, is expected to report earnings of $0.65 per share from revenues of $1.7B 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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