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- Sep - 01 - NH - Morning Newsletter (with survey at top and bottom)
Sep - 01 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Ready to Make a Splash Today
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Good Morning!
Stock futures traded higher on Friday, with investors anticipating the release of new U.S. jobs data after a mixed trading session to conclude August. Dow Jones Industrial Average futures gained 0.4% (127 points), S&P 500 futures rose 0.3%, and Nasdaq 100 futures climbed 0.2%. MongoDB and Dell Technologies both surged 6% and 9%, respectively, in after-hours trading due to better-than-expected earnings reports. Additionally, Lululemon Athletica shares jumped 2% after surpassing Wall Street's expectations. Despite some positive sessions this month, stock indexes ended with monthly losses, with the S&P 500 down 1.77%, the Nasdaq shedding 2.17%, and the Dow dropping 2.36% in August.
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Today Top Movers
Novo Integrated Sciences Inc. (NVOS) stock soared 55.71% to $0.218 in the pre-market trading after receiving underwriter clearance notice for $70,000,000 coupon.
Eos Energy Enterprises Inc. (NASDAQ: EOSE) shares are trading up +49.85% at $4.87 at the time of writing after announcing ‘Project AMAZE,’ a $500M program to address long-duration energy storage demand.
23andMe Holding Co. (ME) grew over 19.09% at $1.31 in pre-market trading today. The company declared that it has received a U.S. Food and Drug Administration (FDA) 510(k) clearance to expand its existing BRCA1/BRCA2 Genetic Health Risk Report*.
Nutanix Inc. (NTNX), a Software - Infrastructure company, rose about +18.07% at $36.72 in pre-market trading Friday following the release of fourth quarter and fiscal 2023 financial results.
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Top Upgrades & Downgrades
New Street Research turned bullish on MercadoLibre Inc. (MELI), upgrading the stock to "Buy" and assigning a $1650 price target, representing potential upside of 20.23% from Thursday's close.
Aramark (ARMK) 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 $47, suggesting 26.41% additional upside for the stock.
Vale S.A. (VALE) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $16. They changed their rating on VALE to Overweight from Neutral in a recently issued research note.
Earlier Friday Baird reduced its rating on PagerDuty Inc. (PD) stock to Neutral from Outperform and assigned the price target to $25.
Loop Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Dollar General Corporation (DG) has been changed to Hold from Buy and the new price target is set at $140.
Analysts at Roth MKM downgraded Acer Therapeutics Inc. (ACER)'s stock to Neutral from Buy Friday.
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Latest Insider Activity
BILL Holdings Inc. (BILL) President and CEO Lacerte Rene A. announced the sale of shares taking place on Aug 29 at $108.94 for some 13,865 shares. The total came to more than $1.51 million.
Upstart Holdings Inc. (UPST) Corporate Controller Mirgorodskaya Natalia sold on Aug 30 a total 5,604 shares at $32.16 on average. The insider’s sale generated proceeds of almost $0.18 million.
VAALCO Energy Inc. (EGY) Chief Executive Officer Maxwell George W.M. declared the purchase of shares taking place on Aug 31 at $4.11 for some 5,000 shares. The transaction amount was around $20550.0.
Globalstar Inc. (GSAT) Director Monroe James III bought on Aug 29 a total 4,197,399 shares at $1.13 on average. The purchase cost the insider an estimated $4.76 million.
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Important Earnings
Top US earnings releases scheduled for Tuesday include Asana Inc. (NYSE:ASAN). It will announce its Jul 2023 financial results. The company is expected to report earnings of -$0.11 per share from revenues of $157.91M in the three-month period.
Analysts expect Zscaler Inc. (NASDAQ:ZS) to report a net income (adjusted) of $0.49 per share, when the company releases its quarterly results Tuesday. Revenue for the fiscal quarter ended Jul 2023 is predicted to come in at $430.38M.
GitLab Inc. (GTLB), due to announce earnings after the market closes Tuesday, is expected to report earnings of -$0.03 per share from revenues of $129.79M 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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