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- Oct - 10 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 10 - NH - Morning Newsletter (with survey at top and bottom)
Spotlighting 4 Stocks Destined for Today's Headlines
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On Tuesday, U.S. stock futures showed a modest uptick, driven by a decline in Treasury yields, while market participants continued to assess the implications and risks associated with the prolonged Israel-Hamas conflict. Dow Jones Industrial Average futures and S&P 500 futures both advanced by 0.2%, mirroring the positive sentiment. Nasdaq 100 futures also saw a 0.2% increase. Notably, the 10-year Treasury yield retreated by 12 basis points to 4.659%, as investors sought refuge in this traditional safe-haven asset amidst the ongoing geopolitical tensions. The decrease in yields provided a boost to stock futures, which had been under pressure due to the recent rapid surge in interest rates. Additionally, investors were keenly awaiting the release of September's NFIB Small Business Survey data, August's wholesale inventories figures, and the quarterly earnings results of PepsiCo, scheduled for Tuesday before the market opening.
The World's First "$20 Trillion Drug?"
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Today Top Movers
Immunic Inc (IMUX) stock soared 26.42% to $2.01 in the pre-market trading after reporting positive interim data from phase 2 CALLIPER trial of Vidofludimus calcium in progressive multiple sclerosis.
Ocugen Inc (NASDAQ: OCGN) shares are trading up 12.72% at $0.46 at the time of writing following the announcement that Ocugen's Mucosal Vaccine Candidate OCU500 has been chosen by the NIH/NIAID Project NextGen for inclusion in clinical trials.
Akero Therapeutics Inc (AKRO) grew over 14.44% at $55.55 in pre-market trading today. The company will present results from phase 2b SYMMETRY study investigating Efruxifermin in patients with Compensated Cirrhosis Due to NASH.
Unity Software Inc (U), a Software - Application company, rose about 7.74% at $32 in pre-market trading Tuesday after announcing leadership transition.
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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Top Upgrades & Downgrades
Piper Sandler turned bullish on Exact Sciences Corp. (EXAS), upgrading the stock to "Overweight" and assigning a $90 price target, representing potential upside of 36.28% from Monday's close.
Acadia Pharmaceuticals Inc (ACAD) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $32, suggesting 43.69% additional upside for the stock.
Rivian Automotive Inc (RIVN) received an upgrade from analysts at UBS, who also set their one-year price target on the stock to $24. They changed their rating on RIVN to Buy from Neutral in a recently issued research note.
Earlier Tuesday Citigroup reduced its rating on Euronav NV (EURN) stock to Neutral from Buy and assigned the price target to $18.5.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Juniper Networks Inc (JNPR) has been changed to Neutral from Overweight and the new price target is set at $29.
Analysts at JP Morgan downgraded Corning Inc. (GLW)'s stock to Neutral from Overweight Tuesday.
Watch SHOCKING Footage of AI Facility with Ties to Elon Musk
I recently traveled more than 3,000 miles and shot this video outside what could end up being Elon Musk's biggest secret. Most people don't know about this facility, but it could be the most important AI project in the world. What's happening inside these walls is so important that our government has declared it a matter of national security.
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Latest Insider Activity
Cloudflare Inc (NET) CEO & Chair of the Board Prince Matthew announced the sale of shares taking place on Oct 06 at $61.29 for some 52,384 shares. The total came to more than $3.21 million.
Moderna Inc (MRNA) Director AFEYAN NOUBAR sold on Oct 04 a total 15,000 shares at $102.72 on average. The insider’s sale generated proceeds of almost $1.54 million.
Agenus Inc (AGEN) 10% Owner AGENUS INC declared the purchase of shares taking place on Oct 04 at $1.09 for some 15,001 shares. The transaction amount was around $16380.0.
Citi Trends Inc (CTRN) 10% Owner Fund 1 Investments, LLC bought on Oct 06 a total 4,900 shares at $22.70 on average. The purchase cost the insider an estimated $111,210.
DeFi Coin Triggers All "Buy" Signals And Could Break Out Soon
Some are calling this the most promising DeFi project since Ethereum itself.
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Important Earnings
Top US earnings releases scheduled for today include Neogen Corp. (NASDAQ:NEOG). It will announce its Aug 2023 financial results. The company is expected to report earnings of $0.12 per share from revenues of $231.1M 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 shortly. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $23.43B.
AZZ Inc (AZZ), due to announce earnings after the market closes today, is expected to report earnings of $1.08 per share from revenues of $396.91M 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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