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- Sep - 07 - NH - Morning Newsletter (with survey at top and bottom)
Sep - 07 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Destined to Outshine the Market
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On early Thursday, S&P 500 futures exhibited a decline as Wall Street's concerns revived regarding the Federal Reserve's interest rate policy and the possibility of another rate hike this year. Futures linked to the broader market index experienced a 0.2% dip, while Nasdaq 100 futures saw a decline of 0.5%. Dow Jones Industrial Average futures, on the other hand, showed an increase of 43 points or 0.1%.These developments occurred in the wake of a recent selloff in major U.S. stock benchmarks, where higher Treasury yields put pressure on tech stocks. This situation raised concerns among investors that the Federal Reserve might employ stronger-than-expected economic data to support the case for raising benchmark lending rates in order to combat inflation. On Wednesday, the yield on the 2-year Treasury note increased by as much as 6 basis points.Furthermore, traders closely scrutinized the latest corporate earnings reports released after Wednesday's closing bell. C3.ai's shares declined by 5.3% due to reported lower-than-expected gross margins in its fiscal first quarter. In contrast, GameStop's stock surged by over 6% following its second-quarter results, while ChargePoint Holdings saw a decline of more than 10% after missing revenue estimates.
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Today Top Movers
American Rebel Holdings Inc. (AREB) stock soared 36.67% to $1.23 in the pre-market trading after announced that its safe subsidiary Champion Safe has been bombarded with calls from safe dealers and customers looking for alternatives to safes made by Liberty Safe.
UiPath Inc. (NYSE: PATH) shares are trading up 5.49% at $17.11 at the time of writing. Company’s 52-week ranged between $10.40 to $19.94 after reporting second quarter fiscal 2024 financial results.
Artelo Biosciences Inc. (ARTL) grew over 28.94% at $3.03 in pre-market trading today. The company announced that Myles Osborn, Medicinal Chemist, will be presenting at the 6th Cannabinoid-Derived Drug Development Summit being held September 11-13, 2023 at the Hilton Boston Back Bay hotel in Boston, MA.
NanoVibronix Inc. (NAOV), a Medical Devices company, rose about 9.65% at $2.84 in pre-market trading Thursday after announcing that Dr. Sandra Wilks is scheduled to present the findings from her study of UroShield® at the International Continence Society (ICS) 2023 Conference in Toronto on Wednesday, September 27.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on McDonald's Corporation (MCD), upgrading the stock to Overweight and assigning a $310 price target, representing potential upside of 12.55% from Wednesday's close.
Owens Corning (OC) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $150, suggesting 5.26% additional upside for the stock.
Vail Resorts Inc. (MTN) received an upgrade from analysts at Truist. They changed their rating on MTN to Buy from Hold in a recently issued research note.
Earlier Thursday Barclays reduced its rating on Dell Technologies Inc. (DELL) stock to Underweight from Equal-Weight and assigned the price target to $53.
Loop Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Roku Inc. (ROKU) has been changed to Hold from Buy and the new price target is set at $85.
Analysts at UBS downgraded Tronox Holdings plc (TROX)'s stock to Neutral from Buy Thursday.
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Latest Insider Activity
DocGo Inc. (DCGO) Chief Executive Officer Capone Anthony announced the sale of shares taking place on Sep 01 at $9.00 for some 2,000 shares. The total came to more than $18000.0.
United States Steel Corporation (X) SVP & Chief Mfg Officer - NAFR Buckiso Scott D sold on Sep 05 a total 8,970 shares at $31.16 on average. The insider’s sale generated proceeds of almost $0.28 million.
Axalta Coating Systems Ltd. (AXTA) Director Stein Kevin M declared the purchase of shares taking place on Sep 06 at $27.38 for some 36,600 shares. The transaction amount was around $1.0 million.
Porch Group Inc. (PRCH) CEO, CHAIRMAN AND FOUNDER Ehrlichman Matt bought on Sep 06 a total 363,495 shares at $0.73 on average. The purchase cost the insider an estimated $263,570.
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Important Earnings
Top US earnings releases scheduled for today include DocuSign Inc. (NASDAQ:DOCU). It will announce its Jul 2023 financial results. The company is expected to report earnings of $0.66 per share from revenues of $677.56M in the three-month period.
Analysts expect Planet Labs PBC (NYSE:PL) to report a net income (adjusted) of -$0.08 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2023 is predicted to come in at $54.14M.
Smartsheet Inc. (SMAR), due to announce earnings after the market closes today, is expected to report earnings of $0.07 per share from revenues of $229.51M 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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