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- 02 Feb - NH - Morning Newsletter (with survey at top and bottom) (copy 01)
02 Feb - NH - Morning Newsletter (with survey at top and bottom) (copy 01)
Today's Top-4 Break Out Stocks
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Good Morning!According to trading data, Futures for US stock indices are falling sharply on Friday after the largest US information technology companies published their financial results.Futures for the Dow Jones Industrial Index (DJIA) are down 0.31% to 33990 points, futures for the NASDAQ high-tech companies index dropped by 1.44% to 12662.5 points while the S&P 500 broad market index slipped 0.76%, to 4159.75 points.The online retailer Amazon reported a net loss after a profit a year earlier. The American holding company Alphabet Inc., which owns Google, reduced its net profit by 21% at the end of the year. And tech giant Apple cut its bottom line by 13% last quarter.Shares of companies are getting cheaper in pre-bidding by 5.36%, 3.84% and 3.11% respectively.The focus of investors today will also be data from the labor market. Analysts believe that unemployment in the country rose to 3.6% in January from 3.5% a month earlier.
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Today Top Movers
ReShape Lifesciences Inc. (RSLS) stock soared 213.17% to $19.73 in the pre-market trading following an SEC Form S-1/A filing.
Magenta Therapeutics Inc. (NASDAQ: MGTA) shares are trading up 40.69% at $0.7949 at the time of writing after announcing that it has completed a review of its business, including the status of its programs, resources, and capabilities.
Sidus Space Inc. (SIDU) grew over 28.58% at $0.5169 in pre-market trading today following the closing of $5.2 million public offering and full exercise of underwriters’ over-allotment option.
Nordstrom Inc. (JWN), a Department Stores company, rose about 29.61% at $27.4 in pre-market trading Friday on the news that Ryan Cohen may be building a significant stake in the luxury department-store chain.
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Top Upgrades & Downgrades
Baird turned bullish on Cardinal Health Inc. (CAH), upgrading the stock to "Outperform" and assigning a $94 price target, representing potential upside of 23.21% from Friday's close.
Neurocrine Biosciences Inc. (NBIX) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $130, suggesting 20.37% additional upside for the stock.
Esperion Therapeutics Inc. (ESPR) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $9. They changed their rating on ESPR to Equal-Weight from Underweight in a recently issued research note.
Earlier Friday RBC Capital reduced its rating on The Boeing Company (BA) stock to Sector Perform from Outperform and assigned the price target to $225.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Spirit AeroSystems Holdings Inc. (SPR) has been changed to Sector Perform from Outperform and the new price target is set at $36.
Analysts at Piper Sandler downgraded Camden Property Trust (CPT)'s stock to Neutral from Overweight Friday.
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Latest Insider Activity
Marvell Technology Inc. (MRVL) President, Products & Tech Hussain Muhammad Raghib announced the sale of shares taking place on Jan 31 at $42.22 for some 46,200 shares. The total came to more than $1.95 million.
The Charles Schwab Corporation (SCHW) Co-Chairman Schwab Charles R. sold on Feb 01 a total 121,066 shares at $77.84 on average. The insider’s sale generated proceeds of almost $9.42 million.
Intel Corporation (INTC) EVP, CFO Zinsner David declared the purchase of shares taking place on Jan 31 at $27.75 for some 7,250 shares. The transaction amount was around $0.2 million.
Redfin Corporation (RDFN) Director Slavet James bought on Feb 01 a total 6,667 shares at $7.47 on average. The purchase cost the insider an estimated $49,806.
Solar Industry at Start of Long Bull Run?
The U.S. solar industry generated nearly $33 billion of private investment in the American economy in 2021 -- and analysts say it looks like the start of a long solar bull market.
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Important Earnings
Top US earnings releases scheduled for today include Zimmer Biomet Holdings Inc. (NYSE: ZBH). It will announce its Dec 2022 financial results. The company is expected to report earnings of $1.83 per share from revenues of $1.76B in the three-month period.
Analysts expect LyondellBasell Industries N.V. (NYSE: LYB) to report a net income (adjusted) of $1.22 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $10.71B.
Twist Bioscience Corporation (TWST), due to announce earnings before the market opens today, is expected to report earnings of -$1.13 per share from revenues of $54.1M 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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