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- 01 July - NH - Morning Newsletter (with survey at top and bottom)
01 July - NH - Morning Newsletter (with survey at top and bottom)
Top 4 Stocks to Trade Before the Weekend
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Good Morning!
On fears of inflation, rate hikes, and recession, the US stock market suffered the most significant decline in half a century, in the first half of the year. Since the start of the year, the broad S&P 500 index has decreased 20.6%, the biggest decline since 1970. The tech NASDAQ and industrial Dow Jones declined 29.5% and 16%, respectively, the worst performance since 1971 and 1962. The Dow Jones fell by 0.82% to 30775.43 points on Thursday, the NASDAQ fell by 1.33% to 11028.74 points, and the S&P 500 fell by 0.88% to 3785.38 points.
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Today Top Movers
Akebia Therapeutics Inc. (AKBA) stock soared 30.95% to $0.4624 in the pre-market trading after reporting that it has executed an agreement to terminate the U.S. and ex-U.S. vadadustat collaboration and license agreements with Otsuka Pharmaceutical Co., Ltd.
Performance Shipping Inc. (NASDAQ: PSHG) shares are trading up 13.43% at $0.625 at the time of writing after announcing a new loan facility with Piraeus Bank S.A. to finance the acquisition of Sixth Aframax Tanker
NIO Inc. (NIO) grew over 2.81% at $22.33 in pre-market trading today after reporting June deliveries that rose sharply from last month and from a last year.
Lexicon Pharmaceuticals Inc. (LXRX), a Biotechnology company, rose about 9.68% at $2.04 in pre-market trading Friday after releasing positive top-line results from phase 2 proof-of-concept study of LX9211 In Painful Diabetic Neuropathy
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Top Upgrades & Downgrades
Credit Suisse turned bullish on Coupang Inc. (CPNG), upgrading the stock to "Outperform" and assigning a $19 price target, representing potential upside of 49.02% from Thursday's close.
Sitio Royalties Corp. (STR) has won the favor of RBC Capital's equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $43.00, suggesting 85.50% additional upside for the stock.
TotalEnergies SE (TTE) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $62.79. They changed their rating on TTE to Buy from Hold in a recently issued research note.
Earlier Friday Berenberg reduced its rating on FedEx Corporation (FDX) stock to Hold from Buy and assigned the price target to $275.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Huntington Bancshares Incorporated (HBAN) has been changed to Neutral from Overweight and the new price target is set at $14.5.
Analysts at Nomura Instinet downgraded XPeng Inc. (XPEV)'s stock to Neutral from Buy Friday.
Leaked tax return reveals secret to pocketing $460,164...
Official tax return reveals how one trader nabbed annual gains of 228%, 309% and 339%. His tax return was released online, exposing this simple trading technique used to pocket nearly half a million in profits.
Latest Insider Activity
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer announced the sale of shares taking place on Jun 28 at $169.90 for some 342 shares. The total came to more than $58106.0.
Pinterest Inc. (PINS) Chief Financial Officer Morgenfeld Todd R sold on Jun 28 a total 55,241 shares at $20.12 on average. The insider’s sale generated proceeds of almost $1.11 million.
Pebblebrook Hotel Trust (PEB) Chairman, President, and CEO BORTZ JON E declared the purchase of shares taking place on Jun 30 at $16.67 for some 16,000 shares. The transaction amount was around $0.27 million.
Darden Restaurants Inc. (DRI) Director WILMOTT TIMOTHY J bought on Jun 28 a total 10,000 shares at $120.00 on average. The purchase cost the insider an estimated $1.2 million.
Forbes mag says this strategy "like finding money in the street"
And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday.
Important Earnings
Top US earnings releases scheduled for next week include Saratoga Investment Corp. (NYSE: SAR). It will announce its May 2022 financial results on Jul 06. The company is expected to report earnings of $0.53 per share from revenues of $19.21M in the three-month period.
Analysts expect Simulations Plus Inc. (NASDAQ: SLP) to report a net income (adjusted) of $0.17 per share, when the company releases its quarterly results Jul 06. Revenue for the fiscal quarter ended May 2022 is predicted to come in at $14.33M.
Helen of Troy Limited (HELE), due to announce earnings before the market opens on Jul 07, is expected to report earnings of $2.54 per share from revenues of $490.39M 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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