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- Sep - 20 - NH - Morning Newsletter (with survey at top and bottom)
Sep - 20 - NH - Morning Newsletter (with survey at top and bottom)
Dawn's Dominators: 4 Stocks Setting the Market Pace
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Good Morning!
The U.S. stock markets appeared poised for a calm opening on Wednesday, with investors closely tracking the Federal Reserve's forthcoming monetary policy decision.Dow Jones Industrial Average futures exhibited a slight increase of 19 points, equivalent to 0.1%, while S&P 500 futures saw a nominal uptick of 0.1%. Nasdaq 100 futures also showed a 0.1% gain.The primary focus of the market lies squarely on the Federal Reserve. Although it is widely anticipated to maintain its benchmark federal-funds rate within the current range of 5.25% to 5.50%, the primary attraction will be the release of policymakers' economic projections. These projections will include their perspectives on the future trajectory of interest rates.Additionally, market participants will closely monitor the debut trading session of Klaviyo, a marketing software company. Klaviyo has initiated its initial public offering (IPO) with an IPO price set at $30 per share, translating to an approximate market valuation of $9.2 billion.
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Today Top Movers
EBET Inc. (EBET) stock soared 33.65% to $0.0707 in the pre-market trading after filing 8-K form with the SEC.
Fresh Tracks Therapeutics Inc. (NASDAQ: FRTX) shares are trading up 54.28% at $0.8993 at the time of writing after its Board approved plan of Liquidation and Dissolution.
Exscientia plc (EXAI) grew over 25.1% at $6.33 in pre-market trading today after announcing a new collaboration with Merck KGaA, Darmstadt, Germany focused on the discovery of novel small molecule drug candidates across oncology, neuroinflammation and immunology.
Meta Materials Inc. (MMAT), a Electronic Components company, rose about +8.81% at $0.221 in pre-market trading Wednesday following the receipt of 180-Day extension to achieve Nasdaq minimum bid compliance.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on Kimco Realty Corporation (KIM), upgrading the stock to Equal-Weight and assigning a $20 price target, representing potential upside of 8.17% from Tuesday's close.
Azul S.A. (AZUL) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $18.3, suggesting 121.28% additional upside for the stock.
Western Digital Corporation (WDC) received an upgrade from analysts at Exane BNP Paribas, who also set their one-year price target on the stock to $58. They changed their rating on WDC to Outperform from Neutral in a recently issued research note.
Earlier Wednesday Exane BNP Paribas reduced its rating on Skyworks Solutions Inc. (SWKS) stock to Neutral from Outperform and assigned the price target to $110.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Dollar General Corporation (DG) has been changed to Underweight from Neutral and the new price target is set at $116.
Analysts at Oppenheimer downgraded Chewy Inc. (CHWY)'s stock to Perform from Outperform Wednesday.
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Latest Insider Activity
Aurora Innovation Inc. (AUR) Director Anderson Sterling announced the sale of shares taking place on Sep 18 at $3.54 for some 200,000 shares. The total came to more than $0.71 million.
Arthur J. Gallagher & Co. (AJG) VP & Chief Financial Officer HOWELL DOUGLAS K sold on Sep 19 a total 15,000 shares at $234.94 on average. The insider’s sale generated proceeds of almost $3.52 million.
Amgen Inc. (AMGN) 10% Owner AMGEN INC declared the purchase of shares taking place on Sep 19 at $17.00 for some 1,764,705 shares. The transaction amount was around $30.0 million.
Planet Labs PBC (PL) Co-Founder and CEO Marshall William Spencer bought on Sep 19 a total 100,000 shares at $2.70 on average. The purchase cost the insider an estimated $269,840.
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Important Earnings
Top US earnings releases scheduled for today include General Mills Inc. (NYSE:GIS). It will announce its Aug 2023 financial results. The company is expected to report earnings of $1.08 per share from revenues of $4.88B in the three-month period.
Analysts expect FedEx Corporation (NYSE:FDX) to report a net income (adjusted) of $3.74 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2023 is predicted to come in at $21.81B.
KB Home (KBH), due to announce earnings after the market closes today, is expected to report earnings of $1.43 per share from revenues of $1.48B 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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