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- 02 Aug - ST - Morning Newsletter (with survey at top and bottom)
02 Aug - ST - Morning Newsletter (with survey at top and bottom)
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Good Morning!
The session on August 1, the main US stock markets ended with a slight decline. The S&P 500 corrected 0.28% to 4119, the Nasdaq shed 0.18% and the Dow Jones 0.14%. The sector of non-cyclical consumer goods became the leader of growth (+1.21%), representatives of the energy sector were the outsiders (-2.18%).Corporate Updates
It isn't Tesla or Google that are making headlines at the moment, but rather Hong Kong-based AMTD Digital (NYSE:HKD) is getting all the attention. A key aspect of HKD stock is that it represents a metaverse play. The stock doubled in value on its first day of IPO on July 15. At one point on July 29, HKD stock price reached $485 each, doubling throughout. Nevertheless, In the space of an overnight, the bubble popped. Stocks traded below $300 early in the morning of Aug 1.
Elsewhere, Celsius Holdings (CELH: +11.1%) announced a long-term distribution agreement with PepsiCo, Inc. (PEP: +1.1%), which includes a cash investment of $550 million and the appointment of a member of the board of directors. The partnership is expected to improve sales and marketing effectiveness.
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.
Today Top Movers
Axcella Health Inc. (AXLA) stock soared 21.13% to $2.35 in the pre-market trading after reporting topline results from the Phase 2a randomized, double-blind, placebo-controlled investigation to evaluate the efficacy and safety of AXA1125 in patients with fatigue related to Long COVID.
Pinterest Inc. (NYSE: PINS) shares are trading up 18.61% at $23.71 at the time of writing after Elliott disclosed that it is the largest shareholder.
Allarity Therapeutics Inc. (ALLR) grew over 14.75% at $1.4 in pre-market trading today after announcing that its Board of Directors has mandated a refocus of the Company’s oncology pipeline strategy away from the development of monotherapies towards the development of more promising and clinically relevant combination therapies.
Transocean Ltd. (RIG), a Oil & Gas Drilling company, rose about 16.15% at $3.74 in pre-market trading Tuesday after declaring $321 million contract for Ultra-Deepwater Drillship Deepwater Conqueror..
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Top Upgrades & Downgrades
Credit Suisse turned bullish on Bancolombia S.A. (CIB), upgrading the stock to "Outperform" and assigning a $35 price target, representing potential upside of 21.95% from Monday's close.
bluebird bio Inc. (BLUE) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Market Perform to Outperform and moved its price target to $8, suggesting a 113.33% additional upside for the stock.
TransMedics Group Inc. (TMDX) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $48. They changed their rating on TMDX to Overweight from Neutral in a recently issued research note.
Earlier Tuesday Berenberg reduced its rating on Teladoc Health Inc. (TDOC) stock to Hold from Buy and assigned the price target to $35.00.
Cowen & Co. analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Farfetch Limited (FTCH) has been changed to Market Perform from Outperform and the new price target is set at $9.
Analysts at DZ Bank downgraded Intel Corporation (INTC)'s stock to Sell from Hold Tuesday.
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
ChargePoint Holdings Inc. (CHPT) See Remarks Hughes Michael D announced the sale of shares taking place on Jul 28 at $15.23 for some 25,000 shares. The total came to more than $0.38 million.
The Charles Schwab Corporation (SCHW) Co-Chairman Schwab Charles R. sold on Jul 29 a total 135,300 shares at $69.43 on average. The insider’s sale generated proceeds of almost $9.39 million.
Bed Bath & Beyond Inc. (BBBY) Director WEISS ANDREA declared the purchase of shares taking place on Jul 27 at $4.61 for some 2,000 shares. The transaction amount was around $9220.0.
Baker Hughes Company (BKR) Director Dumais Michael R bought on Jul 21 a total 10,000 shares at $24.39 on average. The purchase cost the insider an estimated $243,900.
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Important Earnings
Top US earnings releases scheduled for today include Uber Technologies Inc. (NYSE:UBER). It will announce its Jun 2022 financial results. The company is expected to report earnings of -$0.26 per share from revenues of $7.39B in the three-month period.
Analysts expect BP p.l.c. (NYSE:BP) to report a net income (adjusted) of $2.13 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $58.73B.
JetBlue Airways Corporation (JBLU), due to announce earnings before the market opens today, is expected to report earnings of -$0.11 per share from revenues of $2.46B 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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