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- Oct - 05 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 05 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Gearing Up for Momentum
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Good Morning!
On Thursday, U.S. stock futures saw a slight decline as Wall Street grappled with maintaining the positive momentum seen in the previous session, with investors eagerly awaiting crucial jobs data. Dow Jones Industrial Average futures dipped by 125 points, translating to a 0.4% decrease, while S&P 500 futures and Nasdaq-100 futures mirrored this decline with 0.4% drops of their own. The premarket witnessed Clorox shares sliding by 4% in response to the company's fiscal first-quarter guidance, which fell significantly below consensus expectations. Clorox anticipates an adjusted loss ranging from 40 cents to zero cents per share, while analysts, as per FactSet, had predicted earnings of $1.29 per share. The preceding trading day was notably positive, with the S&P 500 climbing 0.8%, the Dow advancing 0.4% and ending a three-day losing streak, and the tech-centric Nasdaq Composite leading the way with a robust 1.35% gain. Investors are now gearing up for the release of key jobs data, including weekly jobless claims on Thursday and, more significantly, September's nonfarm payrolls set to be unveiled on Friday.
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Today Top Movers
Femasys Inc (FEMY) stock soared 24.45% to $2.85 in the pre-market trading. The company will showcase FemaSeed at the Annual Meeting of the American Society of Reproductive Medicine. “The Past, The Present, and The Pipeline”, being held in New Orleans, Louisiana from October 14-18, 2023.
Vivos Therapeutics Inc (NASDAQ: VVOS) shares are trading up 16.22% at $0.3539 at the time of writing following the announcement of strategic agreements with Ormco and On Demand Orthodontist to offer Spark™ Clear Aligners through its extensive national network of providers.
Orchard Therapeutics plc ADR (ORTX) grew over 95.95% at $15.95 in pre-market trading today in response to the news of a definitive agreement with Kyowa Kirin Co., Ltd., in which Kyowa Kirin will acquire Orchard Therapeutics for $16.00 per American Depositary Share (ADS) in cash, amounting to around $387.4 million or ¥57.3 billion. .
WISeKey International Holding Ltd ADR (WKEY), a Semiconductors company, rose about 9.59% at $1.6 in pre-market trading Thursday after WISeKey's subsidiary, WISeSat AG, demonstrated remarkable accomplishments in secure satellite communication for IoT applications, emphasizing the company's unwavering commitment to advancing space technology solutions.
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Top Upgrades & Downgrades
Raymond James turned bullish on Prosperity Bancshares Inc. (PB), upgrading the stock to Strong Buy and assigning a $68 price target, representing potential upside of 29.28% from Wednesday's close.
Beacon Roofing Supply Inc (BECN) has won the favor of RBC Capital's equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $94, suggesting 23.13% additional upside for the stock.
O'Reilly Automotive Inc. (ORLY) received an upgrade from analysts at Citigroup, who also set their one-year price target on the stock to $1040. They changed their rating on ORLY to Buy from Neutral in a recently issued research note.
Earlier Tuesday Raymond James reduced its rating on Comerica Inc. (CMA) stock to Outperform from Strong Buy and assigned the price target to $53.
New Street analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Turkcell Iletisim Nu Holdings Ltd (NU) has been changed to Neutral from Buy and the new price target is set at $8.10.
Analysts at Truist Securities downgraded BioXcel Therapeutics Inc (BTAI)'s stock to Hold from Buy Thursday.
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Latest Insider Activity
Ares Management Corp (ARES) Co-Founder KAPLAN DAVID B announced the sale of shares taking place on Oct 03 at $100.09 for some 22,442 shares. The total came to more than $2.25 million.
Roivant Sciences Ltd (ROIV) Chief Operating Officer Venker Eric sold on Oct 05 a total 153,027 shares at $10.11 on average. The insider’s sale generated proceeds of almost $1.55 million.
Gray Television Inc. (GTN) Director BOGER RICHARD LEE declared the purchase of shares taking place on Oct 02 at $6.84 for some 465 shares. The transaction amount was around $3182.0.
Overstock.com Inc (OSTK) Director LEMONIS MARCUS bought on Oct 04 a total 33,000 shares at $14.94 on average. The purchase cost the insider an estimated $493,020.
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Important Earnings
Top US earnings releases scheduled for today include Conagra Brands Inc (NYSE:CAG). It will announce its Aug 2023 financial results. The company is expected to report earnings of $0.6 per share from revenues of $2.95B in the three-month period.
Analysts expect Lamb Weston Holdings Inc (NYSE:LW) to report a net income (adjusted) of $1.08 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2023 is predicted to come in at $1.62B.
Levi Strauss & Co. (LEVI), due to announce earnings after the market closes today, is expected to report earnings of $0.27 per share from revenues of $1.54B 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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