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- 05 July - Morning Newsletter (with survey at top and bottom)
05 July - Morning Newsletter (with survey at top and bottom)
4 Stocks Starting the Week Strong 🚀
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Good Morning!
Trades on American sites this Monday were not held due to the celebration of Independence Day. Last Friday, July 1, the S&P 500 ended the session at 3825 points, adding 1.06%, while the Nasdaq and Dow Jones rose 0.9% and 1.05%, respectively. All 11 S&P 500 sectors closed in positive territory. The growth leaders were companies in the utilities segment (+2.48%). Representatives of the IT industry looked slightly worse than the market (+0.25%).Corporate newsIn a report to the SEC, General Motors (GM: +1.4%) notes that its sales remain under pressure due to chip shortages. The concern estimated the number of cars understaffed with electronics, the deliveries of which will be made before the end of this year, at 95 thousand. GM's net profit for the second quarter is projected in the range of $1.6-1.9 billion.Management of Kohl's Corporation (KSS: -19.6%) has withdrawn from negotiations to sell retailer Franchise Group Inc. The company also lowered its second-quarter revenue guidance.Technical ViewLast week, the S&P 500's attempts to move up ran into resistance at the 20-day moving average. MACD gives uncertain signals for a reversal, while the RSI is in the neutral zone. Immediate support for the broad market index is in the range of 3600-3660 points.
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Today Top Movers
Invesco Ltd. (IVZ) stock plunged -0.73% to $16.3 in the pre-market trading. The company closed-end funds declared the dividends.
Offerpad Solutions Inc. (OPAD) shares are trading up 10.36% at $2.45 at the time of writing. The firm recently announced its expansion in Northern and Southern Colorado with the launch of its newest markets, Colorado Springs and Fort Collins
Ra Medical Systems Inc. (RMED) grew over 16.21% at $0.3591 in pre-market trading today following the receipt of U.S. Food and Drug Administration 510(k) clearance for the Company’s DABRA 2.0 catheter as part of the DABRA Excimer Laser System.
Syros Pharmaceuticals, Inc. (SYRS) jumped about 14.29% at $1.04 in pre-market trading Tuesday. The company will acquire TYME, including its pipeline assets and net cash at closing which after accounting for wind-down and transaction expenses is currently estimated to be approximately $60 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.
Top Upgrades & Downgrades
Truist Securities turned bullish on Antero Resources Corporation (AR), upgrading the stock to "Buy" and assigning a $50 price target, representing potential upside of 63.13% from Friday's close.
Anheuser-Busch InBev SA/NV (BUD) has won the favor of Citi' equity research team. The firm upgraded the shares from Neutral $to Buy.
Excelerate Energy Inc. (EE) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $29. They changed their rating on EE to Overweight from Equal-Weight in a recently issued research note.
Earlier Tuesday Goldman Sachs reduced its rating on Zenvia Inc. (ZENV) stock to Neutral from Buy and assigned the price target to $3.4.
DZ Bank analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Texas Instruments Incorporated (TXN) has been changed to Buy from Hold.
Analysts at Truist downgraded Aveanna Healthcare Holdings Inc. (AVAH)'s stock to Hold from Buy Tuesday.
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Latest Insider Activity
Mullen Automotive Inc. (MULN) CEO, President Michery David announced the sale of shares taking place on Jun 29 at $1.12 for some 350,000 shares. The total came to more than $0.39 million.
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer sold on Jun 28 a total 342 shares at $169.90 on average. The insider’s sale generated proceeds of almost $58106.0.
Occidental Petroleum Corporation (OXY) 10% Owner BERKSHIRE HATHAWAY INC declared the purchase of shares taking place on Jul 01 at $59.01 for some 4,845,546 shares. The transaction amount was around $285.94 million.
NIKE Inc. (NKE) Director ROGERS JOHN W JR bought on Jun 30 a total 10,000 shares at $102.96 on average. The purchase cost the insider an estimated $1.03 million.
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.
Important Earnings
Top US earnings releases scheduled for next 5 days include Levi Strauss & Co. (NYSE: LEVI). It will announce its May 2022 financial results. The company is expected to report earnings of $0.23 per share from revenues of $1.43B in the three-month period.
Analysts expect Byrna Technologies Inc. Common Stock (NASDAQ: BYRN) to report a net income (adjusted) of -$0.03 per share when the company releases its quarterly results on July 07. Revenue for the fiscal quarter ended May 2022 is predicted to come in at $11.67M.
WD-40 Company (WDFC), due to announce earnings after the market closes July 07, is expected to report earnings of $1.27 per share from revenues of $142.77M 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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