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Oct - 11 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Forecasted for Morning Mastery
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Good Morning!
Stock futures saw an uptick on Wednesday as Treasury yields continued to retract from their recent 16-year highs. Market sentiment was also buoyed by a significant merger within the energy sector. Dow Jones Industrial Average futures gained 77 points, marking a 0.2% increase, while S&P 500 futures experienced a 0.2% rise, and Nasdaq-100 futures surged by 0.35%. Notably, Exxon Mobil sealed a deal to acquire shale driller Pioneer Natural Resources in an all-stock transaction valued at $59.5 billion, standing as the largest merger announcement on Wall Street this year. Early trading reflected a 2% rise in Pioneer shares, while Exxon experienced a 1% decline. Traders are now focusing on the forthcoming consumer price index report for September, set to be released on Thursday.
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Today Top Movers
Athersys Inc (ATHX) stock soared +40.83% to $0.169 in the pre-market trading after reporting interim analysis results of MASTERS-2 clinical study with MultiStem in Ischemic Stroke.
Tempest Therapeutics Inc (NASDAQ: TPST) shares are trading up 224.14% at $0.7776 at the time of writing. The company will report new and updated data from Global Randomized Combination Study of TPST-1120 in First-Line Hepatocellular Carcinoma.
Gaucho Group Holdings Inc (VINO) grew over 40.45% at $1.25 in pre-market trading today after announcing its journey towards organic cultivation for select sections of its renowned Pinot Noir and Cabernet Sauvignon vineyards.
Unique Fabricating Inc (UFAB), a Auto Parts company, rose about 18.54% at $0.25 in pre-market trading Wednesday. The company announced notice of Non-Compliance with NYSE continued listing standards; receives listing extension.
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Top Upgrades & Downgrades
JP Morgan turned bullish on Iris Energy Ltd (IREN), upgrading the stock to "Overweight" and assigning a $6.5 price target, representing potential upside of 86.78% from Tuesday's close.
Take-Two Interactive Software Inc. (TTWO) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $170, suggesting 17.05% additional upside for the stock.
CSX Corp. (CSX) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $40. They changed their rating on CSX to Overweight from Neutral in a recently issued research note.
Earlier Wednesday Piper Sandler reduced its rating on Arista Networks Inc (ANET) stock to Neutral from Overweight and assigned the price target to $190.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for RXO Inc (RXO) has been changed to Underweight from Neutral and the new price target is set at $16.
Analysts at Keybanc downgraded Omnicell Inc. (OMCL)'s stock to Sector Weight from Overweight Wednesday.
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Latest Insider Activity
SentinelOne Inc (S) Chief Operating Officer Srivatsan Narayanan announced the sale of shares taking place on Oct 06 at $16.04 for some 12,587 shares. The total came to more than $0.2 million.
Morgan Stanley (MS) 10% Owner MORGAN STANLEY sold on Oct 05 a total 135 shares at $50000.00 on average. The insider’s sale generated proceeds of almost $6.75 million.
Biohaven Ltd (BHVN) Director CHILDS JOHN W declared the purchase of shares taking place on Oct 05 at $22.00 for some 454,545 shares. The transaction amount was around $10.0 million.
Conagra Brands Inc (CAG) Director LENNY RICHARD H bought on Oct 09 a total 9,238 shares at $27.31 on average. The purchase cost the insider an estimated $252,290.
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Important Earnings
Richardson Electronics Ltd. (NASDAQ:RELL). It will announce its Aug 2023 financial results. The company is expected to report earnings of $0.03 per share from revenues of $51.1M in the three-month period.
Analysts expect Byrna Technologies Inc (NASDAQ:BYRN) to report a net income (adjusted) of $0.01 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2023 is predicted to come in at $9.41M.
Cyclerion Therapeutics Inc (CYCN), due to announce earnings before the market opens tomorrow, is expected to report revenues of $608k 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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