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05 Aug - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Watch Before the Weekend
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Good Morning!
The session on August 4, the main US stock markets ended in different directions. The S&P 500 fell only 0.08% to 4152 points, the Dow Jones fell 0.26% and the Nasdaq rose 0.41%. Seven of the 11 S&P 500 sectors closed higher. Energy companies became absolute outsiders: the sectoral index sank by 3.6% during the day.Company news
Beyond Meat (BYND: -7.81%) plans to cut up to 4% of its staff.
Black Rock Inc. (BLK: +0.79%) has selected Coinbase Global (COIN: +10.01%) as its institutional client service partner
Technical pictureThe S&P 500 is moving up in an uptrend and is likely to stay near the resistance line. The 20- and 50-day moving averages are located at around 3900 points and cannot give clear signals for a reversal due to the change in market sentiment to positive. Such fundamental factors as macro statistics, actions and plans of the Fed, as well as the results of corporate reporting determine the dynamics of the S&P 500 in the first place and serve as growth drivers for it. Given this, we do not expect a new bottom to be reached.
While finding excellent stocks with the potential for gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Tech Stocks Every Investor Should Buy Right Now", we have identified five tech stocks we believe could appreciate.
Today Top Movers
Marker Therapeutics Inc. (MRKR) stock soared 99.58% to $0.6586 in pre-market trading after announcing that the U.S. Food and Drug Administration (FDA) has cleared the Company’s Investigational New Drug (IND) application for MT-601.
Cooper-Standard Holdings Inc. (NYSE: CPS) shares are trading up 19.28% at $6.0 at the time of writing after reporting results for the second quarter of 2022.
ACM Research Inc. (ACMR) grew over 19.32% at $21.49 in pre-market trading today. The company recently released financial results for its second fiscal quarter ended June 30, 2022.
DoorDash Inc. (DASH), a Internet Content & Information company, rose about 11.6% at $90.8 in pre-market trading Friday after posting record number of orders.
Top 5 Stocks with Strong Insider Buying
One of the best ways to spot potential opportunity is by tracking insiders.
After all, who knows the company better than an insider - the CEO, CFO, COO, officers, employees, and directors? If they're buying a sizable number of shares, it's often a good idea to start looking into why and perhaps follow them into the stock. Here are five stocks seeing a good share of insider buying in recent weeks.
Top Upgrades & Downgrades
Piper Sandler turned bullish on United Fire Group Inc. (UFCS), upgrading the stock to "Overweight" and assigning a $37.00 price target, representing potential upside of 46.3% from Thursday's close.
Fox Factory Holding Corp. (FOXF) has won the favor of Stifel's equity research team. The firm upgraded the shares from Hold to Buy and moved its price target to $115.00, suggesting a 21.72% additional upside for the stock.
Kellogg Company (K) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $74.00. They changed their rating on K to Neutral from Underweight in a recently issued research note.
Earlier Friday Canaccord Genuity reduced its rating on ChemoCentryx Inc. (CCXI) stock to Hold from Buy and assigned the price target to $52.00.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Fisker Inc. (FSR) has been changed to Equal-Weight from Overweight and the new price target is set at $10.00.
Analysts at Morgan Stanley downgraded CommScope Holding Company Inc. (COMM)'s stock to Equal-Weight from Overweight Friday.
Hidden Income 'hack'
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Latest Insider Activity
Palantir Technologies Inc. (PLTR) Glazer David A. announced the sale of shares taking place on Aug 02 at $11.02 for some 105,553 shares. The total came to more than $1.16 million.
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer sold on Aug 02 a total 342 shares at $158.14 on average. The insider’s sale generated proceeds of almost $54084.0.
Freeport-McMoRan Inc. (FCX) Director Lewis Sara Grootwassink declared the purchase of shares taking place on Aug 03 at $28.79 for some 3,000 shares. The transaction amount was around $86355.0.
Pinterest Inc. (PINS) Chief Executive Officer Ready William J bought on Aug 03 a total 222,551 shares at $22.47 on average. The purchase cost the insider an estimated $5.0 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 today include DraftKings Inc. (NASDAQ: DKNG). It will announce its Jun 2022 financial results. The company is expected to report earnings of -$0.83 per share from revenues of $436.19M in the three-month period.
Analysts expect The Goodyear Tire & Rubber Company (NASDAQ: GT) to report a net income (adjusted) of $0.34 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $4.98B.
Atlas Air Worldwide Holdings Inc. (AAWW), due to announce earnings before the market opens today, is expected to report earnings of $3.34 per share from revenues of $1.11B 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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