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- Sep - 08 - NH - Morning Newsletter (with survey at top and bottom)
Sep - 08 - NH - Morning Newsletter (with survey at top and bottom)
Unmasking 4 Stocks with Potential Upsurge
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Good Morning!
Stock futures showed limited movement on Friday morning. Dow Jones Industrial Average futures increased by 66 points, equivalent to a 0.19% gain. Meanwhile, futures tied to the S&P 500 and Nasdaq 100 futures experienced modest rises of 0.17% and 0.25%, respectively.In after-hours trading, shares of e-signature company DocuSign surged by more than 3% following their better-than-expected second-quarter results, which exceeded both revenue and profit estimates. Additionally, the company provided optimistic guidance for the third quarter. Conversely, home furnishings company RH saw its shares drop by over 7% due to its less favorable third-quarter revenue outlook.For the week, all three major stock indexes are poised for losses, with the S&P 500 down by 1.4% and the Nasdaq Composite showing a 2% decline. This week marks the first negative performance in three weeks for both of these indices. The Dow is also set to end the week with a nearly 1% loss.
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Today Top Movers
Faraday Future Intelligent Electric Inc. (FFIE) stock soared 15.42% to $4.49 in the pre-market trading. The company reaffirmed its commitment to safeguarding the interests of its shareholders while driving long-term growth and value creation.
Smith & Wesson Brands Inc. (NASDAQ: SWBI) shares are trading up 12.46% at $11.82 at the time of writing following the declaration of first quarter fiscal 2024 financial results.
AGBA Group Holding Limited (AGBA) grew over 33.23% at $0.9446 in pre-market trading today after announcing $50 million equity purchase agreement.
DocuSign Inc. (DOCU), a Software - Application company, rose about 3.01% at $53.7 in pre-market trading Friday. The company announced second quarter fiscal 2024 financial tesults.
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Top Upgrades & Downgrades
BofA turned bullish on Gilead Sciences Inc. (GILD), upgrading the stock to "Buy" and assigning a $95 price target, representing potential upside of 28.48% from Thursday's close.
Adobe Inc. (ADBE) has won the favor of Mizuho's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $630, suggesting 12.40% additional upside for the stock.
Petroleo Brasileiro S.A. - Petrobras (PBR) received an upgrade from analysts at Bradesco BBI, who also set their one-year price target on the stock to $15. They changed their rating on PBR to Outperform from Neutral in a recently issued research note.
Earlier Thursday BofA reduced its rating on Torrid Holdings Inc. (CURV) stock to Underperform from Buy and assigned the price target to $1.5.
BofA analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Vir Biotechnology Inc. (VIR) has been changed to Neutral.
Analysts at Citigroup downgraded Essex Property Trust Inc. (ESS)'s stock to Neutral from Buy Friday.
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Latest Insider Activity
SentinelOne Inc. (S) President, CEO Weingarten Tomer announced the sale of shares taking place on Sep 06 at $17.49 for some 61,869 shares. The total came to more than $1.08 million.
Roivant Sciences Ltd. (ROIV) Chief Operating Officer Venker Eric sold on Sep 06 a total 5,926 shares at $11.85 on average. The insider’s sale generated proceeds of almost $70223.0.
Invesco Ltd. (IVZ) 10% Owner Invesco Realty, Inc. declared the purchase of shares taking place on Sep 05 at $25.00 for some 2,800,000 shares. The transaction amount was around $70.0 million.
Xponential Fitness Inc. (XPOF) Director GRAYSON CHELSEA A bought on Sep 06 a total 1,000 shares at $19.45 on average. The purchase cost the insider an estimated $19,450.
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Important Earnings
Top US earnings releases scheduled for today include The Kroger Co. (NYSE:KR). It will announce its Jul 2023 financial results. The company is expected to report earnings of $0.91 per share from revenues of $34.13B in the three-month period.
Analysts expect Rent the Runway Inc. (NASDAQ:RENT) to report a net income (adjusted) of -$0.43 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2023 is predicted to come in at $78.25M.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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