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- Sep - 11 - NH - Morning Newsletter (with survey at top and bottom)
Sep - 11 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Taking off in Today's Premarket
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Good Morning!
Stock futures exhibited minimal changes on Monday morning as investors eagerly anticipated a week brimming with crucial economic data releases and earnings reports from two prominent technology companies.Futures linked to the Dow Jones Industrial Average showed a modest increase of 46 points, equivalent to 0.13%. Meanwhile, S&P 500 futures and Nasdaq 100 futures displayed slight gains of 0.25% and 0.41%, respectively.Investors are particularly keen on forthcoming inflation data after a series of economic reports last week surpassed expectations, rekindling concerns about the Federal Reserve potentially raising interest rates more aggressively than initially anticipated. According to CME Group's Fed Watch tool, traders are currently pricing in approximately a 4 in 10 chance of a rate hike in November following an anticipated pause in September.Additionally, the week ahead holds the release of retail sales data on Thursday and the University of Michigan's Consumer Sentiment Survey on Friday. These reports are poised to offer valuable insights into the sustainability of consumer spending throughout the remainder of the year.On a different note, investors are closely monitoring financial updates from two major technology behemoths: Oracle on Monday and Adobe on Thursday.
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Today Top Movers
Crinetics Pharmaceuticals Inc. (CRNX) stock soared 65% to $26.35 in the pre-market trading after announcing inducement grants under Nasdaq listing rule 5635(c)(4).
Aurora Mobile Limited (NASDAQ: JG) shares are trading up 24.04% at $0.1961 at the time of writing. The company announced that it successfully held the "Use AI Faster" seminar at the Hong Kong University of Science School of Business and Management on September 5, 2023.
Cingulate Inc. (CING) grew over 11.69% at $0.645 in pre-market trading today after releasing full results from the Phase 3 adult efficacy and safety study of its lead candidate, CTx-1301 (dexmethylphenidate), for the treatment of attention deficit/hyperactivity disorder (ADHD).
Tesla Inc. (TSLA), a Auto Manufacturers company, rose about +6.98% at $265.84 in pre-market trading Monday following the release of a Morgan Stanley report, which spotlighted Tesla's cutting-edge Dojo supercomputer platform, prompting a substantial boost in its price target.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on Tesla Inc. (TSLA), upgrading the stock to Overweight and assigning a $400 price target, representing potential upside of 60.97% from Friday's close.
Kenvue Inc. (KVUE) has won the favor of Deutsche Bank's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $27, suggesting 26.76% additional upside for the stock.
DoorDash Inc. (DASH) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $90. They changed their rating on DASH to Hold from Underperform in a recently issued research note.
Earlier Monday JP Morgan reduced its rating on Brunswick Corporation (BC) stock to Neutral from Overweight and assigned the price target to $79.
Telsey Advisory Group analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Rent the Runway Inc. (RENT) has been changed to Market Perform from Outperform and the new price target is set at $1.
Analysts at Wolfe Research downgraded Evergy Inc. (EVRG)'s stock to Peer Perform from Outperform Monday.
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Latest Insider Activity
Natera Inc. (NTRA) CO-FOUNDER Sheena Jonathan announced the sale of shares taking place on Sep 06 at $59.07 for some 5,000 shares. The total came to more than $0.3 million.
Sunrun Inc. (RUN) Chief Executive Officer Powell Mary sold on Sep 06 a total 2,994 shares at $15.16 on average. The insider’s sale generated proceeds of almost $45381.0.
Embecta Corp. (EMBC) Director Melcher David F declared the purchase of shares taking place on Sep 08 at $15.77 for some 6,233 shares. The transaction amount was around $98271.0.
Broadcom Inc. (AVGO) Director Low Check Kian bought on Sep 06 a total 11,000 shares at $872.03 on average. The purchase cost the insider an estimated $9.59 million.
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Important Earnings
Top US earnings releases scheduled for today include Bowlero Corp. (NYSE:BOWL). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.01 per share from revenues of $241.62M in the three-month period.
Analysts expect FuelCell Energy Inc. (NASDAQ:FCEL) 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 $27.72M.
Oracle Corporation (ORCL), due to announce earnings after the market closes today, is expected to report earnings of $1.15 per share from revenues of $12.46B 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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