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- Oct - 20 - NH - Morning Newsletter (with survey at top and bottom)
Oct - 20 - NH - Morning Newsletter (with survey at top and bottom)
Today's Top Stocks: Get a Jump on the Market
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Friday morning witnessed a dip in stock futures, with traders closely monitoring the recent surge in the 10-year Treasury yield. Futures associated with the Dow Jones Industrial Average retreated by 17 points, equivalent to a 0.05% decline, while S&P 500 futures registered a 0.15% fall, and Nasdaq 100 futures exhibited a more pronounced drop of approximately 0.32%.The noteworthy highlight of the day was the 10-year Treasury yield crossing the 5% threshold for the first time in 16 years. At approximately 5 p.m. ET, the yield touched 5.001%, marking a significant milestone that hadn't been reached since July 20, 2007, when it reached as high as 5.029%.Thursday had seen stocks experiencing turbulence following Federal Reserve Chair Jerome Powell's remarks in New York. Powell expressed concerns about persistently high inflation levels and suggested that a reduction in economic growth might be necessary to curb it. He also conveyed his belief that current interest rates were not excessively high.As the trading day progressed, investors keenly awaited earnings reports from companies such as Comerica, Regions Financial, American Express, and oilfield services firm SLB.
Free Report: Three of the Top NASDAQ Stocks to Buy Under $10
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Today Top Movers
Urgent.ly Inc. (ULY) stock soared 104.00% to $11.22 in the pre-market trading after announcing successful closing of merger with Otonomo Technologies & Effectiveness of S-1 registration statement.
Knight-Swift Transportation Holdings Inc (NYSE: KNX) shares are trading up 17.7% at $54 at the time of writing following the release of Q3 2023 results.
FaZe Holdings Inc (FAZE) grew over 64.94% at $0.3025 in pre-market trading today after after GameSquare agreed to buy FaZe Clan in an all-stock deal, forming a major gaming and esports media company.
Castellum Inc (CTM), a Information Technology Services company, rose about +12.47% at $0.3599 in pre-market trading Friday. The company announced its 2024 budget targets and some corporate strategic initiatives.
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Top Upgrades & Downgrades
JP Morgan turned bullish on Knight-Swift Transportation Holdings Inc (KNX), upgrading the stock to "Neutral" and assigning a $57 price target, representing potential upside of 5.56% from Thursday's close.
Cognizant Technology Solutions Corp. (CTSH) has won the favor of Citigroup's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $80, suggesting 22.23% additional upside for the stock.
Union Pacific Corp. (UNP) received an upgrade from analysts at Deutsche Bank, who also set their one-year price target on the stock to $235. They changed their rating on UNP to Buy from Hold in a recently issued research note.
Earlier Friday Deutsche Bank reduced its rating on Sunrun Inc (RUN) stock to Hold from Buy and assigned the price target to $15.
UBS analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Blue Owl Capital Inc (OWL) has been changed to Neutral from Buy and the new price target is set at $14.
Analysts at Redburn Atlantic downgraded Yum Brands Inc. (YUM)'s stock to Neutral from Buy Friday.
New Nanotech Repels Even the Strongest Superbugs
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Latest Insider Activity
Snap Inc (SNAP) CAO Morrow Rebecca announced the sale of shares taking place on Oct 16 at $9.59 for some 6,980 shares. The total came to more than $66931.0.
Meta Platforms Inc (META) Chief Legal Officer Newstead Jennifer sold on Oct 17 a total 670 shares at $318.19 on average. The insider’s sale generated proceeds of almost $0.21 million.
Delta Air Lines, Inc. (DAL) Director Taylor David S declared the purchase of shares taking place on Oct 18 at $33.09 for some 10,000 shares. The transaction amount was around $0.33 million.
Fidelity National Information Services, Inc. (FIS) Director Goldstein Jeffrey A bought on Oct 17 a total 1,045 shares at $53.00 on average. The purchase cost the insider an estimated $55,385.
This Nanotech Could Potentially Disrupt a $3.7 Billion Market
A little-known company is developing a new nanotechnology that instantly repels viruses, bacteria, and even the strongest superbugs. It's being described as 'the most innovative invention to have a positive impact on the future'. And you have a chance to get in on the company early - before it potentially starts down the path to commercialization.
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Important Earnings
Top US earnings releases scheduled for today include Huntington Bancshares, Inc. (NASDAQ:HBAN). It will announce its Sep 2023 financial results. The company is expected to report earnings of $0.32 per share from revenues of $1.82B in the three-month period.
Analysts expect SLB (NYSE:SLB) to report a net income (adjusted) of $0.77 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $8.33B.
Interpublic Group Of Cos., Inc. (IPG), due to announce earnings before the market opens today, is expected to report earnings of $0.73 per share from revenues of $2.38B 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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