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- Oct - 12 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 12 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Setting the Day's Trading Tempo
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On Thursday, U.S. stock futures showed modest gains, with investors closely eyeing upcoming consumer inflation data for valuable economic insights. Futures linked to the Dow Jones Industrial Average rose by 0.3%, or 105 points, while both S&P 500 and Nasdaq 100 futures advanced by 0.4%.The eagerly anticipated consumer price report for September is slated for release on Thursday morning. According to a survey conducted by Dow Jones, economists are anticipating a 0.3% month-over-month increase for September, along with a 3.6% year-over-year rise. Investors are closely monitoring this report, as it is expected to significantly influence the Federal Reserve's decision at its upcoming two-day meeting commencing on October 31, particularly with regard to interest rate adjustments.This data release follows a positive surprise in the producer price index for September. Furthermore, Thursday will see the commencement of the latest earnings season, with notable companies such as Delta Air Lines and Walgreens Boots Alliance set to unveil their financial results before the market's opening bell. Fastenal and Domino's Pizza are also scheduled to announce their quarterly earnings.
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Today Top Movers
Opgen Inc (OPGN) stock soared 816.67% to $3.08 in the pre-market trading following the filing of 8-K form with the SEC.
Jaguar Health Inc (NASDAQ: JAGX) shares are trading up 61.16% at $0.39 at the time of writing. The company is exhibiting at the Veterinary Cancer Society (VCS) Annual Conference, which takes place October 12-14, 2023 at the Peppermill Resort in Reno, Nevada, as part of ongoing promotional activities for Canalevia-CA1 (crofelemer delayed-release tablets).
Tupperware Brands Corporation (TUP) grew over 18.45% at $2.76 in pre-market trading today. The company recently filed 8-K form with the SEC.
Telefonaktiebolaget L M Ericsson ADR (ERIC), a Communication Equipment company, rose about +7.02% at $5.03 in pre-market trading Thursday as Vonage, an integral part of the company, secures its position as a leader in the Gartner Magic Quadrant for Communications Platform as a Service (CPaaS).
Investors Strike Lithium Gold
The U.S. government is moving towards electric cars, and European countries are phasing out gas-powered vehicles entirely, with Norway banning oil and gas and England following by 2030. This proves the future is in electricity.
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Top Upgrades & Downgrades
Barclays turned bullish on First Solar Inc (FSLR), upgrading the stock to Overweight and assigning a $156.99 price target, representing potential upside of 42.68% from Wednesday's close.
Gold Fields Ltd ADR (GFI) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $14, suggesting 2.04% additional upside for the stock.
Tanger Factory Outlet Centers Inc. (SKT) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $25. They changed their rating on SKT to Neutral from Underweight in a recently issued research note.
Earlier Thursday Redburn Atlantic reduced its rating on E2open Parent Holdings Inc (ETWO) stock to Neutral from Buy and assigned the price target to $4.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Welltower Inc. (WELL) has been changed to Neutral from Overweight and the new price target is set at $90.
Analysts at Wolfe Research downgraded Carrier Global Corp (CARR)'s stock to Underperform from Peer Perform Thursday.
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Latest Insider Activity
Tango Therapeutics Inc (TNGX) Boxer Capital, LLC announced the sale of shares taking place on Oct 09 at $9.97 for some 175,000 shares. The total came to more than $1.74 million.
Zscaler Inc (ZS) Director Sinha Amit sold on Oct 09 a total 7,360 shares at $165.69 on average. The insider’s sale generated proceeds of almost $1.22 million.
Aehr Test Systems (AEHR) Director SLAYEN HOWARD T declared the purchase of shares taking place on Oct 11 at $40.20 for some 700 shares. The transaction amount was around $28140.0.
Synovus Financial Corp. (SNV) 10% Owner Samaha Eli bought on Oct 11 a total 881 shares at $21.50 on average. The purchase cost the insider an estimated $18,942.
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Important Earnings
Top US earnings releases scheduled for today include Walgreens Boots Alliance Inc (NASDAQ:WBA). It will announce its Aug 2023 financial results. The company is expected to report earnings of $0.69 per share from revenues of $34.82B in the three-month period.
Analysts expect Infosys Ltd ADR (NYSE:INFY) to report a net income (adjusted) of $0.18 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $4.61B.
T2 Biosystems Inc (TTOO), due to announce earnings after the market closes today, is expected to report earnings of -$0.04 per share from revenues of $2.6M 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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