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- 05 Jan - NH - Morning Newsletter (with survey at top and bottom)
05 Jan - NH - Morning Newsletter (with survey at top and bottom)
4 Rallying Stocks To Trade Today
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Good Morning!U.S. stock futures declined on Thursday as the possibility of the Federal Reserve maintaining higher interest rates for a longer period of time dampened investor sentiment. The minutes from the Federal Reserve's December meeting showed that all officials are committed to addressing inflation and believe that higher interest rates will be necessary until inflation subsides. They stated that a restrictive policy stance would need to be maintained until there is confidence that inflation is consistently falling towards the 2% target. Additionally, the officials do not anticipate any interest rate cuts in 2023. US stock markets closed Wednesday with a gain in the major indices. The S&P 500 added 0.75% to 3853, the Nasdaq rose 0.69% and the Dow Jones increased 0.4%. Positive sentiment was demonstrated by the consumer cyclical (+2.67%) and real estate stocks (+2.27%). Energy (-0.02%) was the only sector in the red. Traders will pay close attention to the release of key data in the coming days, particularly employment reports. On Thursday, the ADP private sector employment survey for December will be released at 8:15 a.m. Eastern Time, followed by the weekly initial jobless claims data 15 minutes later. The highly anticipated December nonfarm payroll report will be released on Friday. These reports will be closely watched by traders as they provide insight into the current state of the job market and the overall economy.
The Top 5 NASDAQ Stocks to Own for New Year 2023
Even in the worst of times, markets have rallied back. Just as they always have. So, if you're thinking of quitting the market, don't. There are plenty of bargains and hot investing ideas to jump on. In fact, here are five of our best ideas for 2023.
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Today Top Movers
Roivant Sciences Ltd. (ROIV) stock soared 11.89% to $8.0 in the pre-market trading after releasing positive results from the induction period of the TUSCANY-2 Phase 2b study of RVT-3101
Geron Corporation (NASDAQ: GERN) shares are trading up 17.5% at $2.82 at the time of writing followin the declaration of positive top-line results from its IMerge Phase 3 clinical trial of Imetelstat in Lower Risk MDS.
Applied Therapeutics Inc. (APLT) grew over 19.05% at $0.8955 in pre-market trading today. The company announced a partnership with Advanz Pharma for commercialization of AT-007 (govorestat) in Europe.
Alibaba Group Holding Limited (BABA), a Internet Retail company, rose about 7.1% at $98.51 in pre-market trading Wednesday after its Ant Group received approval from Chinese regulators to raise $1.5 billion for its consumer unit.
"Essential for America's National Defense"
Did you know each EV battery contains up to 220 pounds of graphite and China controls more than 90% of the world's graphite trade? But now that the U.S. has classified it as "essential for America's National Defense"... one little-known company could become America's ONLY fully integrated graphite provider.
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Top Upgrades & Downgrades
Needham turned bullish on Etsy Inc. (ETSY), upgrading the stock to "Buy" and assigning a $160 price target, representing potential upside of 40.89% from Tuesday's close.
The Bank of New York Mellon Corporation (BK) has won the favor of Wolfe Research's equity research team. The firm upgraded the shares from Peer Perform to Outperform and moved their price target to $60, suggesting 29.59% additional upside for the stock.
NOV Inc. (NOV) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $24. They changed their rating on NOV to Overweight from Equal-Weight in a recently issued research note.
Earlier Wednesday Wells Fargo reduced its rating on Target Corporation (TGT) stock to Equal-Weight from Overweight and assigned the price target to $142.
Wolfe Research analysts reduced their investment ratings, saying in research reports covered by the media that its rating for The Goldman Sachs Group Inc. (GS) has been changed to Peer Perform from Outperform.
Analysts at Wolfe Research downgraded Morgan Stanley (MS)'s stock to Underperform from Outperform Wednesday.
These 5 Tech Stocks Have 10x Potential
If you had bought Netflix after the dot-com crash, you could have turned $1,000 into over half a million dollars in profit. And today – thanks to the tech crash – you have a similar opportunity. Luke Lango just named 5 tech stocks with 10x potential in a new report (one is trading for just $6).
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Latest Insider Activity
Alphabet Inc. (GOOG) Senior Vice President RAGHAVAN PRABHAKAR announced the sale of shares taking place on Jan 03 at $89.75 for some 22,203 shares. The total came to more than $1.99 million.
Hewlett Packard Enterprise Company (HPE) SVP Controller and CTO Cox Jeremy sold on Dec 29 a total 851 shares at $16.00 on average. The insider’s sale generated proceeds of almost $13616.0.
Marathon Digital Holdings Inc. (MARA) Director MELLINGER DOUGLAS K declared the purchase of shares taking place on Dec 28 at $3.27 for some 10,000 shares. The transaction amount was around $32700.0.
Helbiz Inc. (HLBZ) Chief Executive Officer Palella Salvatore bought on Dec 29 a total 1,568,249 shares at $0.12 on average. The purchase cost the insider an estimated $188,190.
The Humble Mineral at the Heart of the EV Revolution (Not Lithium)
You may know of graphite as what's in the tip of a No. 2 pencil, but it is the key to many forms of renewable energy. Today, this humble mineral is at the epicenter of the electric car revolution. Because what most people don't know is today's EV batteries contain more than 220 pounds of graphite - more than lithium, copper or aluminum!
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Important Earnings
Top US earnings releases scheduled for today and tomorrow include Resources Connection Inc. (NASDAQ: RGP). It will announce its Nov 2022 financial results. The company is expected to report earnings of $0.47 per share from revenues of $199.2M in the three-month period.
Analysts expect Richardson Electronics Ltd. (NASDAQ: RELL) to report a net income (adjusted) of $0.29 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Nov 2022 is predicted to come in at $64.5M.
Constellation Brands Inc. (STZ), due to announce earnings before the market opens tomorrow, is expected to report earnings of $2.9 per share from revenues of $2.4B 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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