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- 03 Oct - ST - Morning Newsletter (with survey at top and bottom)
03 Oct - ST - Morning Newsletter (with survey at top and bottom)
4 Skyrocketing Stocks to Start the Week
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Good Morning!Monday morning's stock futures were choppy after Wall Street closed another disappointing quarter. The S&P 500 and Dow Jones Industrial Average posted their weakest months since March 2020.Futures for the Dow Jones Industrial Average gained 0.17%, while futures for the S&P 500 slipped marginally. Futures on the Nasdaq 100 fell 0.37%.For the first time since November 2020, the Dow closed below 29,000 on Friday, capping off a negative month and quarter for all major averages.As a result of the decline, the Dow has now lost three quarters in a row for the first time since the third quarter of 2015. For the first time since 2009, the S&P 500 and Nasdaq Composite finished their third consecutive negative quarters.During September, Dow Jones lost 8.8%, S&P 500 lost 9.3%, and Nasdaq Composite lost 10.5%. It was the sixth negative week in seven for all major averages.In advance of the new quarter, all S&P 500 sectors are below their 52-week highs by at least 10%. There were nine sectors that finished the quarter in the red. Consumer discretionary gained more than 4.1%, the best performer.
Crash Warning: EVERYTHING Just Changed
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Today Top Movers
Myovant Sciences Ltd. (MYOV) stock surged 29.62% to $23.28 in the pre-market trading after reporting that it had received and rejected a bid to be taken private by its majority shareholder.
Wearable Devices Ltd. (NASDAQ: WLDS) shares are trading up 51.14% at $1.33 at the time of writing. The company recently announced first half 2022 financial results
Sensei Biotherapeutics, Inc. (SNSE) grew over 14.84% at $1.78 in pre-market trading today following the presentation of preclinical data for SNS-101, a conditionally active VISTA-blocking antibody.
Flexible Solutions International, Inc. (FSI) gained about 13.33% at $1.87 in pre-market trading Monday after announcing termination of merger with Lygos Inc.
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Top Upgrades & Downgrades
RBC Capital turned bullish on CF Industries Holdings Inc. (CF), upgrading the stock to Outperform and assigning a $135.00 price target, representing potential upside of 40.01% from Friday's close.
Wells Fargo & Company (WFC) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $48.00, suggesting 19.2% additional upside for the stock.
Southwestern Energy Company (SWN) received an upgrade from analysts at Truist Securities, who also set their one-year price target on the stock to $11.00. They changed their rating on SWN to Buy from Hold in a recently issued research note.
Earlier Monday Goldman Sachs reduced its rating on Citigroup Inc. (C) stock to Neutral from Buy and assigned the price target to $47.00.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for The Mosaic Company (MOS) has been changed to Sector Perform from Outperform and the new price target is set at $65.00.
Analysts at Benchmark downgraded National CineMedia Inc. (NCMI)'s stock to Hold from Buy Monday.
Crash Warning: SHOCKING CHART: You Could Lose Everything
In the first half of the year, stocks sustained their worst decline in 52 years, and there's nothing the Fed can do to stop it. If you hold stocks or exchange-traded funds, history tells us you could lose anywhere from half your money to almost all your money. That's why I've just released a special video, Collapse of 2022: How to Protect Your Money and Wealth Swiftly. I'll show you six simple steps to protect your money immediately and profit directly from market declines.
Latest Insider Activity
Prothena Corporation plc (PRTA) Director Cooke Shane announced the sale of shares taking place on Sep 28 at $48.09 for some 10,000 shares. The total came to more than $0.48 million.
Zscaler Inc. (ZS) Chief Operating Officer Rajic Dali sold on Sep 30 a total 20,000 shares at $168.00 on average. The insider’s sale generated proceeds of almost $3.36 million.
Dave Inc. (DAVE) Chief Executive Officer Wilk Jason declared the purchase of shares taking place on Sep 30 at $10.01 for some 1,532,232 shares. The transaction amount was around $15.33 million.
Oceaneering International Inc. (OII) Director WEBSTER STEVEN A bought on Sep 29 a total 10,731 shares at $7.77 on average. The purchase cost the insider an estimated $83,372.
America 2.0: Elon Musk's Next Big Move
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Important Earnings
Top US earnings releases scheduled for tomorrow include SMART Global Holdings Inc. (NASDAQ: SGH). It will announce its Aug 2022 financial results. The company is expected to report earnings of $0.65 per share from revenues of $440M in the three-month period.
Analysts expect Acuity Brands Inc. (NYSE:AYI) to report a net income (adjusted) of $3.59 per share, when the company releases its quarterly results tomorrow. Revenue for the fiscal quarter ended Aug 2022 is predicted to come in at $1.08B.
Saratoga Investment Corp. (SAR), due to announce earnings after the market closes tomorrow, is expected to report earnings of $0.32 per share from revenues of $19.9M 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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