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- 06 July - ST - Morning Newsletter (with survey at top and bottom)
06 July - ST - Morning Newsletter (with survey at top and bottom)
4 Active Premarket Stocks To Trade Today
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Good Morning!
The session on July 5, US stock markets ended mostly in the green zone. The S&P 500 rose 0.16% to 3831, the Nasdaq added 1.75% and only the Dow Jones fell 0.42%. The growth leaders were companies in the technology sector (+1.24%), telecoms (+2.67%) and manufacturers of non-cyclical consumer goods (+2.28%). Energy companies turned out to be outsiders (-4.01%).Corporate Update
Amazon.com, Inc (AMZN: +3.60%) expands delivery service in the UK. A fleet of electric bicycles has been created in the country, and pedestrian delivery services are also provided.
According to Bloomberg, The Toronto-Dominion Bank (TD: -2.99%) is considering a takeover of Cowen Inc (COWN: +28.66%).
Walmart Inc (WMT: +1.32%) plans to charge some of its suppliers new shipping fees due to increased fuel and shipping costs.
Technical ViewThe S&P 500 continues to move in a downtrend. RSI is in the neutral zone. MACD does not give specific signals to change the current dynamics. The transition of the broad market index to consolidation in a narrow corridor is possible. The nearest support is in the range of 3600-3660 points.
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Today Top Movers
Resolute Forest Products Inc. (RFP) stock soared 61.25% to $20.14 in the pre-market trading after announcing an agreement with the wholly-owned subsidiary of The Paper Excellence Group, Domtar Corporation, under which Domtar will acquire all of the outstanding common shares of Resolute stock.
HEXO Corp. (NASDAQ: HEXO) shares are trading up 73.16% at $0.36 at the time of writing. The company’s shareholders approved note transaction with Tilray Brands.
Zomedica Corp. (ZOM) grew over 7.86% at $0.2373 in pre-market trading today after announcing that the acquisition of the assets of Revo Squared LLC was recently completed.
SCWorx Corp. (WORX), a Health Information Services company, rose about 35.48% at $0.84 in pre-market trading Wednesday following the declaration of the common stock purchase agreement with institutional investor.
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Top Upgrades & Downgrades
Goldman Sachs turned bullish on Sempra (SRE), upgrading the stock to "Buy" and assigning a $167 price target, representing potential upside of 13.61% from Tuesday's close.
Mercer International Inc. (MERC) has won the favor of Credit Suisse's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $19.00, suggesting 53.35% additional upside for the stock.
Centennial Resource Development Inc. (CDEV) received an upgrade from analysts at RBC Capital. They changed their rating on CDEV to Outperform from Sector Perform in a recently issued research note.
Earlier Wednesday Raymond James reduced its rating on VMware Inc. (VMW) stock to Market Perform from Outperform.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Continental Resources Inc. (CLR) has been changed to Sector Perform from Outperform and the new price target is set at $80.00.
Analysts at Barclays downgraded Azul S.A. (AZUL)'s stock to Underweight from Equal-Weight Wednesday.
Forbes mag says this strategy "like finding money in the street"
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Latest Insider Activity
PureCycle Technologies Inc. (PCT) Director Scott John Stewart announced the sale of shares taking place on Jul 05 at $7.22 for some 38,813 shares. The total came to more than $0.28 million.
PubMatic Inc. (PUBM) Chairman, Chief Growth Officer Goel Amar K. sold on Jul 01 a total of 357 shares at $15.87 on average. The insider’s sale generated proceeds of almost $5665.0.
NextEra Energy Inc. (NEE) President & CEO KETCHUM JOHN W declared the purchase of shares taking place on Jul 01 at $78.33 for some 12,909 shares. The transaction amount was around $1.01 million.
BitNile Holdings Inc. (NILE) Executive Chairman AULT MILTON C III bought on Jul 01 a total 1,129,164 shares at $0.29 on average. The purchase cost the insider an estimated $330,619.
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 include Simulations Plus Inc. (NASDAQ: SLP). It will announce its May 2022 financial results. The company is expected to report earnings of $0.17 per share from revenues of $14.33M in the three-month period.
Analysts expect Saratoga Investment Corp. (NYSE: SAR) to report a net income (adjusted) of $0.53 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2022 is predicted to come in at $19.21M.
Helen of Troy Limited (HELE), due to announce earnings before the market opens tomorrow, is expected to report earnings of $2.54 per share from revenues of $484.48M 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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