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- Sep - 27 - NH - Morning Newsletter (with survey at top and bottom)
Sep - 27 - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Forecasted to Flourish in Today's Trading
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On Wednesday, U.S. stock futures made a rebound effort following the significant losses experienced in the previous trading session. Dow Jones Industrial Average futures showed an increase of 105 points, equivalent to a 0.3% rise. Simultaneously, futures linked to the S&P 500 also demonstrated a 0.4% climb, mirroring the gain in Nasdaq-100 futures.During premarket trading, Costco faced a 2% drop in its stock value. The retail membership club disclosed its fiscal fourth-quarter results, indicating a 1.1% year-over-year growth in comparable sales but a more modest 0.2% increase within the U.S. region. On a separate note, Costco outperformed analysts' expectations for both revenue and earnings in the same period.The economic agenda for the day includes the release of August's durable goods orders. Market experts anticipate a decline of 0.5% in this regard, as reported by Dow Jones. Prior to the market's opening, payroll services firm Paychex is slated to announce its earnings report, followed by the highly awaited quarterly financial update from Micron Technology after the closing bell.
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Today Top Movers
Galecto Inc (GLTO) stock soared 29.95% to $0.742 in the pre-market trading after announcing that it has completed a review of its business, including the status of its programs, resources, and capabilities.
Cardiff Oncology Inc (NASDAQ: CRDF) shares are trading up 20.99% at $1.96 at the time of writing after releasing positive clinical data in pancreatic cancer and small cell lung cancer, including single-agent activity from onvansertib monotherapy.
Fusion Fuel Green Ltd (HTOO) grew over 12.78% at $1.06 in pre-market trading today. The company received purchase order for 300 kW Electrolyzer and Balance of Plant System from leading Global Building Solutions Supplier.
MillerKnoll Inc (MLKN), a Furnishings Fixtures & Appliances company, rose about +17.7% at $22.54 in pre-market trading Wednesday after releasing first quarter fiscal 2024 results.
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Top Upgrades & Downgrades
HSBC turned bullish on DocuSign Inc (DOCU), upgrading the stock to "Hold" and assigning a $42 price target, representing potential upside of 2.34% from Tuesday's close.
Johnson Controls International plc (JCI) has won the favor of HSBC's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $69, suggesting 27.35% additional upside for the stock.
Packaging Corp Of America (PKG) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $142. They changed their rating on PKG to Hold from Underperform in a recently issued research note.
Earlier Wednesday Morgan Stanley reduced its rating on Zions Bancorporation N.A (ZION) stock to Underweight from Equal-Weight and assigned the price target to $32.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Valley National Bancorp (VLY) has been changed to Underweight from Equal-Weight and the new price target is set at $8.5.
Analysts at Canaccord Genuity downgraded Intercept Pharmaceuticals Inc (ICPT)'s stock to Hold from Buy Wednesday.
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Latest Insider Activity
HF Sinclair Corp. (DINO) EVP, Corporate Jennings Michael announced the sale of shares taking place on Sep 26 at $56.85 for some 50,000 shares. The total came to more than $2.84 million.
Zscaler Inc (ZS) Chief Legal Officer Schlossman Robert sold on Sep 25 a total 3,855 shares at $149.47 on average. The insider’s sale generated proceeds of almost $0.58 million.
PhenixFIN Corporation (PFX) CHIEF FINANCIAL OFFICER McMillan Ellida declared the purchase of shares taking place on Sep 22 at $38.53 for some 100 shares. The transaction amount was around $3853.0.
Medalist Diversified REIT Inc (MDRR) CEO & President KAVANAUGH FRANK bought on Sep 22 a total 2,500 shares at $23.28 on average. The purchase cost the insider an estimated $58,210.
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Important Earnings
Top US earnings releases scheduled for today include Jefferies Financial Group Inc (NYSE:JEF). It will announce its Aug 2023 financial results. The company is expected to report earnings of $0.33 per share from revenues of $1.25B in the three-month period.
Analysts expect Micron Technology Inc. (NASDAQ:MU) to report a net income (adjusted) of -$1.18 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2023 is predicted to come in at $3.91B.
Paychex Inc. (PAYX), due to announce earnings before the market opens today, is expected to report earnings of $1.12 per share from revenues of $1.29B 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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