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- Sep - 12 - NH - Morning Newsletter (with survey at top and bottom)
Sep - 12 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Set to Shine Today
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Good Morning!
Stock futures displayed a mixed tone on Tuesday morning, following a positive day in the market.Futures linked to the Dow Jones Industrial Average dipped by 12 points, marking a marginal decrease of 0.03%. S&P 500 futures also experienced a slight downward movement, while Nasdaq 100 futures hovered just above the neutral zone.In extended trading, Oracle saw a 9% decline after failing to meet revenue expectations set by analysts surveyed by LSEG, formerly known as Refinitiv. However, the database software company outperformed Wall Street's consensus estimate for earnings.These movements come on the heels of a successful day on Wall Street. The Nasdaq Composite led the charge among the three major indexes, surging by 1.1%, while the S&P 500 and Dow posted gains of approximately 0.7% and 0.3%, respectively. This marked the second positive session for the S&P 500 and Nasdaq and the third for the Dow.In other notable developments, Tesla enjoyed a remarkable 10% climb during the session, bolstered by a bullish upgrade from Morgan Stanley. Additionally, Qualcomm experienced a nearly 4% uptick after announcing its plans to supply 5G modems for Apple smartphones through 2026.As Tuesday unfolds, investors are keeping a close eye on data related to small businesses. However, the spotlight remains fixed on impending key inflation data scheduled for later in the week, with the consumer price index expected on Wednesday and the producer price index slated for Thursday.
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Today Top Movers
Ascent Solar Technologies Inc. (ASTI) stock soared 24.41% to $10.60 in the pre-market trading after announcing reverse stock split.
Humacyte Inc. (NASDAQ: HUMA) shares are trading up 13.24% at $4.19 at the time of writing. The company will host a virtual webinar to announce top line data results from its Phase 2/3 V005 vascular trauma clinical trial today.
Affimed N.V. (AFMD) grew over 7.4% at $0.537 in pre-market trading today after announcing that the FDA has granted fast track designation to the combination of its innate cell engager (ICE®) AFM13 with AlloNK® for the potential treatment of relapsed/refractory (r/r) Hodgkin lymphoma (HL).
Matrix Service Company (MTRX), a Engineering & Construction company, rose about 11.67% at $8.9 in pre-market trading Tuesday following the release of fiscal 2023 fourth quarter and full year results.
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Top Upgrades & Downgrades
RBC Capital turned bullish on IAMGOLD Corporation (IAG), upgrading the stock to Sector Perform and assigning a $2.75 price target, representing potential upside of 23.32% from Monday's close.
CVS Health Corporation (CVS) has won the favor of Wolfe Research's equity research team. The firm upgraded the shares from Peer Perform to Outperform and moved their price target to $80, suggesting 16.36% additional upside for the stock.
Geron Corporation (GERN) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $4. They changed their rating on GERN to Buy from Neutral in a recently issued research note.
Earlier Tuesday Truist Securities reduced its rating on Enphase Energy Inc. (ENPH) stock to Hold from Buy and assigned the price target to $135.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for RTX Corporation (RTX) has been changed to Sector Perform from Outperform and the new price target is set at $82.
Analysts at Raymond James downgraded Perion Network Ltd. (PERI)'s stock to Market Perform from Outperform Tuesday.
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Latest Insider Activity
Alphabet Inc. (GOOG) Director HENNESSY JOHN L announced the sale of shares taking place on Sep 11 at $137.30 for some 200 shares. The total came to more than $27460.0.
ChargePoint Holdings Inc. (CHPT) Director Linse Michael sold on Sep 11 a total 468,142 shares at $5.68 on average. The insider’s sale generated proceeds of almost $2.66 million.
GameStop Corp. (GME) Director Cheng Lawrence declared the purchase of shares taking place on Sep 11 at $17.71 for some 1,232 shares. The transaction amount was around $21819.0.
Light & Wonder Inc. (LNW) Director Korsanos Antonia bought on Sep 07 a total 85 shares at $74.87 on average. The purchase cost the insider an estimated $6,364.
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Important Earnings
Top US earnings releases scheduled for today include Edgio Inc. (NASDAQ:EGIO). It will announce its Jun 2023 financial results. The company is expected to report earnings of -$0.11 per share from revenues of $95.31M in the three-month period.
Analysts expect Evolution Petroleum Corporation (AMEX:EPM) to report a net income (adjusted) of $0.06 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $21.64M.
Farmer Bros. Co. (FARM), due to announce earnings after the market closes today, is expected to report earnings of -$0.61 per share from revenues of $85.2M 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.