Oct - 06 - NH - Morning Newsletter (with survey at top and bottom)

4 Stocks Breaking Through at Daybreak

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Good Morning!

U.S. stock markets were poised for a relatively calm start on Friday, as investors focused their attention on the impending release of crucial job-market data later in the day. Dow Jones Industrial Average futures showed a minor decline of 6 points, representing less than 0.1% movement. S&P 500 futures remained largely unchanged, while Nasdaq 100 futures exhibited a modest 0.1% increase. Market sentiment is hinged on the forthcoming September jobs report, with economists surveyed by The Wall Street Journal anticipating the addition of 170,000 jobs, a slight dip from the previous month's figure of 187,000. The job data is scheduled for release at 8:30 a.m. Eastern Time. Meanwhile, the yield on 10-year Treasury bonds held steady at 4.743% early on Friday, showing little deviation from the previous day's levels.

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Today Top Movers

T2 Biosystems Inc (TTOO) stock soared +9.91% to $0.2129 in the pre-market trading. The most recent rating by Alliance Global Partners, on January 27, 2021, is a Neutral. T2 Biosystems to Report Preliminary Third Quarter 2023 Financial Results and Business Updates on October 12, 2023.

Pioneer Natural Resources Co. (NYSE: PXD) shares are trading up +11.36% at $239.39 at the time of writing after sources claimed that Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion. Company’s 52-week ranged between $175.04 to $260.47. Analysts have a consensus price target of $264.

Apellis Pharmaceuticals Inc (APLS) grew over +6.96% at $42.4 in pre-market trading today. Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

Shoals Technologies Group Inc (SHLS), a Solar company, rose about +4.04% at $15.71 in pre-market trading Friday after Upgraded by Piper Sandler form Neutral to Overweight.

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Top Upgrades & Downgrades

Jefferies turned bullish on e.l.f. Beauty Inc (ELF), upgrading the stock to "Buy" and assigning a $115 price target, representing potential upside of 16.16% from Thursday's close.

BHP Group Limited ADR (BHP) has won the favor of UBS's equity research team. The firm upgraded the shares from Sell to Neutral.

Rio Tinto plc ADR (RIO) received an upgrade from analysts at UBS. They changed their rating on RIO to Neutral from Sell in a recently issued research note.

Earlier Friday UBS reduced its rating on AES Corp. (AES) stock to Neutral from Buy and assigned the price target to $13.

Truist Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for PTC Therapeutics Inc (PTCT) has been changed to Hold from Buy and the new price target is set at $25.

Analysts at Raymond James downgraded POINT Biopharma Global Inc (PNT)'s stock to Market Perform from Outperform Friday.

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Latest Insider Activity

Zscaler Inc (ZS) Director BLASING KAREN announced the sale of shares taking place on Oct 04 at $154.14 for some 7,000 shares. The total came to more than $1.08 million.

Micron Technology Inc. (MU) CEO and President MEHROTRA SANJAY sold on Oct 03 a total 7,000 shares at $68.19 on average. The insider’s sale generated proceeds of almost $0.48 million.

United Natural Foods Inc. (UNFI) Chief Executive Officer DOUGLAS J ALEXANDER JR declared the purchase of shares taking place on Oct 04 at $13.32 for some 11,265 shares. The transaction amount was around $0.15 million.

Synovus Financial Corp. (SNV) 10% Owner Samaha Eli bought on Oct 02 a total 3,466 shares at $21.28 on average. The purchase cost the insider an estimated $73,756.

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Important Earnings

Applied Digital Corporation (NASDAQ:APLD). It will announce its Aug 2023 financial results. The company is expected to report earnings of -$0.02 per share from revenues of $35.16M in the three-month period.

Analysts expect AZZ Inc (NYSE:AZZ) to report a net income (adjusted) of $1.08 per share, when the company releases its quarterly results Tuesday. Revenue for the fiscal quarter ended Aug 2023 is predicted to come in at $386.65M.

E2open Parent Holdings Inc (ETWO), due to announce earnings after the market closes Tuesday, is expected to report earnings of $0.05 per share from revenues of $159.66M 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.