Sep - 15 - NH - Morning Newsletter (with survey at top and bottom)

4 Stocks Pioneering Today's Pre-Market Pulse

September 15, 2023

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Good Morning!

Stock futures saw a slight uptick on Friday following a market rally driven by the latest IPO debut. Futures linked to the Dow Jones Industrial Average gained 62 points, equivalent to a 0.17% increase. Similarly, S&P 500 futures and Nasdaq-100 futures showed gains of 0.12% and 0.07%, respectively.The stock market is poised for a positive week, with the Dow expected to record nearly a 1% gain, marking its second positive week in the last three. The S&P and Nasdaq have also seen notable increases of about 1.1% and 1.2%, respectively, positioning them for their third positive weeks in the last four.Investors are eagerly anticipating a day filled with economic data releases. This includes a preliminary consumer sentiment reading for September, along with import and export prices for August. Furthermore, data on industrial and manufacturing production for August is also scheduled for release.

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Today Top Movers

Iovance Biotherapeutics Inc. (IOVA) stock soared 11.73% to $5.19 in the pre-market trading after announcing the U.S. Food and Drug Administration (FDA), because of resource constraints, requires additional time to complete the Priority Review of Iovance’s Biologics License Application (BLA) for lifileucel.

Datasea Inc. (NASDAQ: DTSS) shares are trading up 12.67% at $0.3122 at the time of writing following the closure of $2.0 million underwritten public offering.

Mullen Automotive Inc. (MULN) grew over 9.65% at $0.625 in pre-market trading today. The company announced new stops for the 2023 “Strikingly Different” EV U.S. tour.

Moleculin Biotech Inc. (MBRX), a Biotechnology company, rose about 22.42% at $0.4799 in pre-market trading Friday after announcing that its abstract has been accepted for poster presentation at the 2023 CTOS Annual Meeting being held November 1-4, 2023 in Dublin, Ireland.

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Top Upgrades & Downgrades

Piper Sandler turned bullish on KeyCorp (KEY), upgrading the stock to "Overweight" and assigning a $13.5 price target, representing potential upside of 15.88% from Thursday's close.

Apellis Pharmaceuticals Inc. (APLS) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $64, suggesting 47.77% additional upside for the stock.

MorphoSys AG (MOR) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $9.25. They changed their rating on MOR to Neutral from Sell in a recently issued research note.

Earlier Friday Piper Sandler reduced its rating on Truist Financial Corporation (TFC) stock to Neutral from Overweight and assigned the price target to $32.

Stifel analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Lindsay Corporation (LNN) has been changed to Hold from Buy and the new price target is set at $135.

Analysts at DA Davidson downgraded New Relic Inc. (NEWR)'s stock to Neutral from Buy Friday.

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Latest Insider Activity

Verint Systems Inc. (VRNT) Chairman & CEO BODNER DAN announced the sale of shares taking place on Sep 13 at $24.94 for some 5,829 shares. The total came to more than $0.15 million.

SS&C Technologies Holdings Inc. (SSNC) Director BOULANGER NORMAND A sold on Sep 14 a total 60,000 shares at $55.06 on average. The insider’s sale generated proceeds of almost $3.3 million.

Axalta Coating Systems Ltd. (AXTA) Director Kissire Deborah J. declared the purchase of shares taking place on Sep 13 at $26.58 for some 400 shares. The transaction amount was around $10632.0.

Advance Auto Parts Inc. (AAP) Director LEE EUGENE I JR bought on Sep 13 a total 8,670 shares at $57.65 on average. The purchase cost the insider an estimated $499,818.

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Important Earnings

Investcorp Credit Management BDC Inc. (NASDAQ:ICMB). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.17 per share from revenues of $7.2M in the three-month period.

Analysts expect Stitch Fix Inc. (NASDAQ:SFIX) to report a net income (adjusted) of -$0.21 per share, when the company releases its quarterly results Monday. Revenue for the fiscal quarter ended Jul 2023 is predicted to come in at $371.36M.

Endava plc (DAVA), due to announce earnings before the market opens Tuesday, is expected to report earnings of $0.56 per share from revenues of $235.41M 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.