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- Oct - 13 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 13 - NH - Morning Newsletter (with survey at top and bottom)
Unearthing 4 Stocks Ready to Rally in Today's Market
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Early Friday, stock futures saw a slight increase in anticipation of significant bank earnings. S&P 500 futures gained 8 points, or 0.19%, while Dow Jones Industrial Average futures rose by 0.21%. Nasdaq 100 futures inched up by 0.1%.The Nasdaq is on track for its third consecutive positive week, and the S&P 500 is experiencing its second consecutive week of gains. The Dow, which has faced three straight weeks of declines, is poised to break that pattern.Today, JPMorgan, Wells Fargo, Citigroup, and BlackRock are scheduled to kick off third-quarter earnings for major financial firms. Investors are showing concern due to higher capital requirements and the looming possibility of a recession, which could impact the financial sector's earnings.In addition to earnings reports, traders will also keep an eye on preliminary consumer sentiment data for October.
FedCoin Could Send this $3 Stock Skyrocketing
The government-backed digital dollar, better known as "FedCoin", is finally set to "go live"...
Think of the 40-year-old U.S. banking system as the dial-up internet of the late 1990s...
And FedCoin as wireless, high-speed internet.
The man named Bloomberg's #1 forecaster says it even stands to drive one of the largest waves of wealth in American history.
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Today Top Movers
Versus Systems Inc. (VS) stock soared 39.90% to $0.46 in the pre-market trading following the filing of F-1/A form with the SEC.
Dollar General Corporation (DG) shares are trading up 7.53% at $109.50 at the time of writing after announced Todd Vasos, current Board member and former Chief Executive Officer (CEO), has been appointed CEO.
RedHill Biopharma Ltd. (RDHL) grew over 44.35% at $0.53 in pre-market trading today following the SEC filing.
Comtech Telecommunications Corp. (CMTL) rose about 18.43% at $9.64 in pre-market trading Friday after announcing its fourth quarter fiscal 2023 financial results.
Forget 99.987% of Stocks (Use This ONE Instead)
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Top Upgrades & Downgrades
Gordon Haskett turned bullish on Dollar General Corp. (DG), upgrading the stock to "Buy" and assigning a $140 price target, representing potential upside of 28.3% from Thursday's close.
Morphosys AG ADR (MOR) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Underweight to Overweight and moved their price target to $9.2, suggesting 41.32% additional upside for the stock.
Varonis Systems Inc (VRNS) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $37. They changed their rating on VRNS to Overweight from Equal-Weight in a recently issued research note.
Earlier Friday Macquarie reduced its rating on JD.com Inc ADR (JD) stock to Neutral from Outperform.
Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Fortinet Inc (FTNT) has been changed to Equal-Weight from Overweight and the new price target is set at $63.
Analysts at Goldman Sachs downgraded Arcutis Biotherapeutics Inc (ARQT)'s stock to Neutral from Buy Friday.
Wall Street's biggest income secret leaks to a few retail traders
Have you seen this?
One of Wall Street's biggest income secrets just got leaked to a select few retail traders... It allows retail traders to tap into the same secret income streams big banks have been exploiting for years...
And get this... One of those retail traders is using this little known strategy to generate weekly income.
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Latest Insider Activity
Core & Main Inc (CNM) VP, Corp. Controller Stephens John Weldon announced the sale of shares taking place on Oct 11 at $31.04 for some 11,800 shares. The total came to more than $0.37 million.
Credo Technology Group Holding Ltd (CRDO) Chief Technology Officer Cheng Chi Fung sold on Oct 12 a total 40,000 shares at $15.66 on average. The insider’s sale generated proceeds of almost $0.63 million.
ITeos Therapeutics Inc (ITOS) Chief Financial Officer Gall Matthew declared the purchase of shares taking place on Oct 12 at $8.37 for some 5,000 shares. The transaction amount was around $41850.0.
Asana Inc (ASAN) President, CEO, & Chair Moskovitz Dustin A. bought on Oct 11 a total 140,000 shares at $18.26 on average. The purchase cost the insider an estimated $2.56 million.
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.
Investors are flocking to get in before this company gets a deal like Mercedes gave to their partner.
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Important Earnings
Top US earnings releases scheduled for today include Citigroup Inc (NYSE:C). It will announce its Sep 2023 financial results. The company is expected to report earnings of $1.21 per share from revenues of $19.32B in the three-month period.
Analysts expect Wells Fargo & Co. (NYSE:WFC) to report a net income (adjusted) of $1.24 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $20.11B.
JPMorgan Chase & Co. (JPM), due to announce earnings before the market opens today, is expected to report earnings of $3.96 per share from revenues of $39.57B 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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