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- 01 Feb - NH - Morning Newsletter (with survey at top and bottom)
01 Feb - NH - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks To Watch Today!
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Good Morning!In anticipation of the Federal Reserve's meeting on Wednesday, stock futures dropped.There was a decline of 121 points or 0.35 percent in Dow Jones Industrial Average futures. Futures on the S&P 500 and Nasdaq Composite fell by 0.32% and 0.2%, respectively.Stocks surged in January, ending the month on a strong note. Yesterday, with a rise of 1.09%, the Dow Jones Industrial Average ended the day nearly 369 points higher. With 1.46% gains, the S&P 500 capped its best month of 2019 so far. Tech-heavy Nasdaq rose 1.67%, its best January performance in 22 years.As part of its latest effort to tame high inflation, the Federal Reserve will announce Wednesday how much it will increase interest rates. It is expected that the central bank will increase rates by 25 basis points, or 0.25 percentage points. The employment cost index, which measures wages, showed 1% growth in the fourth quarter, less than Dow Jones' prediction of 1.1%.In spite of this, traders may be getting ahead of themselves in anticipating a more dovish tone or even a change in direction from the Fed.
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Today Top Movers
TransCode Therapeutics Inc. Common Stock (RNAZ) stock soared 41.18% to $1.06 in the pre-market trading after reporting positive preclinical results with its Immunotherapy Candidate, TTX-RIGA, in Melanoma.
Mobile Global Esports Inc. (NASDAQ: MGAM) shares are trading up 29.84% at $3.35 at the time of writing following the declaration from the company that Nicholas (Nick) Venezia has joined MOGO as Chief Data Officer.
Marin Software Incorporated (MRIN) grew over 31.97% at $1.61 in pre-market trading today. The company announced a new integration with Yahoo to enable enhanced campaign buying and optimization for advertisers.
Motorsport Games Inc. (MSGM), a Electronic Gaming & Multimedia company, rose about 91.59% at $41.0 in pre-market trading Wednesday after announcing that it has received notice from the Nasdaq Stock Market LLC on January 30, 2023 informing Motorsport Games that it has regained full compliance with the Nasdaq Listing Rules.
Solar Industry at Start of Long Bull Run?
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Top Upgrades & Downgrades
Piper Sandler turned bullish on Primis Financial Corp. (FRST), upgrading the stock to "Overweight" and assigning a $14 price target, representing potential upside of 18.24% from Tuesday's close.
NeoGenomics Inc. (NEO) has won the favor of Needham's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $15, suggesting 26.26% additional upside for the stock.
Magna International Inc. (MGA) received an upgrade from analysts at BMO Capital, who also set their one-year price target on the stock to $74. They changed their rating on MGA to Outperform from Market Perform in a recently issued research note.
Earlier Wednesday Wells Fargo reduced its rating on American Electric Power Company Inc. (AEP) stock to Equal-Weight from Overweight and assigned the price target to $99.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Hasbro Inc. (HAS) has been changed to Neutral from Buy and the new price target is set at $64.
Analysts at Goldman Sachs downgraded Funko Inc. (FNKO)'s stock to Sell from Neutral Wednesday.
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Latest Insider Activity
Tesla Inc. (TSLA) SVP Powertrain and Energy Eng. Baglino Andrew D announced the sale of shares taking place on Jan 27 at $162.50 for some 10,500 shares. The total came to more than $1.71 million.
Huntington Bancshares Incorporated (HBAN) Director PORTEOUS DAVID L sold on Jan 27 a total 80,000 shares at $15.01 on average. The insider’s sale generated proceeds of almost $1.2 million.
Context Therapeutics Inc. (CNTX) Chief Executive Officer Lehr Martin A. declared the purchase of shares taking place on Jan 30 at $0.70 for some 7,027 shares. The transaction amount was around $4901.0.
Motorsport Games Inc. (MSGM) 10% Owner ZOI MIKE bought on Jan 30 a total 338,983 shares at $2.95 on average. The purchase cost the insider an estimated $1,000,000.
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Important Earnings
Top US earnings releases scheduled for today include Peloton Interactive Inc. (NASDAQ: PTON). It will announce its Dec 2022 financial results. The company is expected to report earnings of -$0.64 per share from revenues of $710.45M in the three-month period.
Analysts expect Boston Scientific Corporation (NYSE: BSX) to report a net income (adjusted) of $0.47 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $3.24B.
Altria Group Inc. (MO), due to announce earnings before the market opens today, is expected to report earnings of $1.17 per share from revenues of $5.15B 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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