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- Oct - 09 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 09 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks to Elevate Your Portfolio
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On Monday, stock futures faced downward pressure as geopolitical concerns intensified due to an attack on Israel. This additional risk compounded existing market fragility characterized by inflation and surging interest rates. Dow Jones Industrial Average futures declined by 0.4%, equivalent to a drop of 125 points, while S&P 500 futures saw a 0.5% decrease, and Nasdaq 100 futures slipped by 0.6%. In contrast, WTI crude oil futures experienced a 3% increase, trading at over $85 per barrel. The escalation of geopolitical tensions has raised concerns about potential oil price surges. Furthermore, it has contributed to the ongoing market volatility, which has already been fueled by persistent inflation and rising interest rates. Notably, Wall Street awaits updates on interest rates until Tuesday, given the closure of the bond market for Columbus Day. Bond yields slightly retreated as stocks gained on Friday, though the 10-year Treasury yield had earlier in the week reached a 16-year high.
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Today Top Movers
ParaZero Technologies Ltd (PRZO) stock soared 61.21% to $1.87 in the pre-market trading following the green light granted for drone flights in Australia..
Maris Tech Ltd (NASDAQ: MTEK) shares are trading up +32.01% at $1.32 at the time of writing after announcing the launch of Jupiter Drones, an innovative, drone-oriented solution based on Maris-Tech's Jupiter Nano platform.
Gaucho Group Holdings Inc (VINO) grew over 20.39% at $1.24 in pre-market trading today. The company announcing its plans to sell two retail properties in Argentina, specifically in San Rafael and Cordoba, with price tags of $2 million and $0.7 million, respectively.
Lockheed Martin Corp. (LMT), a Aerospace & Defense company, rose about 4.94% at $420.53 in pre-market trading Monday. The Lockheed Martin Corporation (NYSE: LMT) board of directors has authorized a fourth quarter 2023 dividend of $3.15 per share.
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Top Upgrades & Downgrades
Citigroup turned bullish on Patterson-UTI Energy Inc (PTEN), upgrading the stock to "Buy" and assigning a $18 price target, representing potential upside of 46.34% from Monday's close.
Oracle Corp. (ORCL) has won the favor of Evercore ISI Group's equity research team. The firm upgraded the shares from In-Line to Outperform and moved their price target to $135, suggesting 21.48% additional upside for the stock.
Aramark (ARMK) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $29. They changed their rating on ARMK to Buy from Hold in a recently issued research note.
Earlier Monday Redburn Atlantic reduced its rating on Spotify Technology S.A. (SPOT) stock to Neutral from Buy and assigned the price target to $160.
Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Mirati Therapeutics Inc (MRTX) has been changed to Hold from Buy and the new price target is set at $58.
Analysts at Barclays downgraded Tenable Holdings Inc (TENB)'s stock to Equal-Weight from Overweight Monday.
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Latest Insider Activity
Acadia Pharmaceuticals Inc (ACAD) CEO DAVIS STEPHEN announced the sale of shares taking place on Oct 06 at $21.96 for some 51,563 shares. The total came to more than $1.13 million.
Navitas Semiconductor Corp (NVTS) President & CEO Sheridan Eugene sold on Oct 06 a total 16,666 shares at $6.34 on average. The insider’s sale generated proceeds of almost $0.11 million.
Coty Inc (COTY) Director Parize Isabelle declared the purchase of shares taking place on Oct 04 at $10.29 for some 20,500 shares. The transaction amount was around $0.21 million.
Staar Surgical Co. (STAA) 10% Owner BROADWOOD PARTNERS, L.P. bought on Oct 06 a total 75,299 shares at $37.62 on average. The purchase cost the insider an estimated $2.83 million.
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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 $34.58M in the three-month period.
Analysts expect PepsiCo Inc (NASDAQ:PEP) to report a net income (adjusted) of $2.15 per share, when the company releases its quarterly results tomorrow. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $23.43B.
Neogen Corp. (NEOG), due to announce earnings before the market opens tomorrow, is expected to report earnings of $0.12 per share from revenues of $231.1M 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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