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- 07 Oct - ST - Morning Newsletter (with survey at top and bottom)
07 Oct - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Trade Before Weekend
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Good Morning!There was little movement in stock futures on Friday morning as investors awaited September's employment report for clues about the Federal Reserve's tightening campaign.Futures for the S&P 500 and Nasdaq 100 fell 0.2% and 0.5%, respectively. There was no change in the futures for the Dow Jones Industrial Average.Stock of Advanced Micro Devices plunged in overnight trading after the chipmaker warned it would generate lower third-quarter revenue than predicted earlier. Shares of Levi Strauss also declined following a downward revision to its guidance.Despite closing lower on Thursday, major averages are expected to close about 4% higher and cap their best week since June 24. On Thursday, the Dow fell 346.93 points, or 1.15%, to 29,926.94, while the S&P 500 fell 1.02% and the Nasdaq Composite lost 0.68%.Energy was the only major S&P sector that finished the session in positive territory. It is on track to close out the week 14.7% higher as oil prices rose 1.8%.
Rare Metal Discovery: Tiny Sub-$0.25 Stock Set to Deliver Gains
Smart investors are blowing away Wall Street's so-called experts on clean energy stocks. And with the green-energy revolution in full-swing, the near-term gains could be absolutely life-changing. The timing is dead-on accurate with this sub-US$0.25 stock securing an ultra-rare clean energy resource on North American soil that China doesn't want us to have.
Today Top Movers
Aehr Test Systems (AEHR) stock soared 13.99% to $15.81 in the pre-market trading after reporting 89% revenue growth year over year in Q1 of fiscal 2023.
DraftKings Inc. (NASDAQ: DKNG) shares are trading up 3.55% at $16.61 at the time of writing following the reports that the company was close to signing a partnership with ESPN.
Cyclerion Therapeutics Inc. (CYCN) grew over 10.72% at $0.6499 in pre-market trading today after announcing its mitochondrial disease-focused corporate strategic plan.
Plus Therapeutics Inc. (PSTV), a Biotechnology company, rose about 19.27% at $0.65 in pre-market trading Friday. The company will report third quarter 2022 financial results on Thursday, October 20, 2022, after market close.
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Top Upgrades & Downgrades
National Bank turned bullish on Algonquin Power & Utilities Corp. (AQN), upgrading the stock to "Outperform" and assigning a $14.25 price target, representing potential upside of 31.57% from Thursday's close.
The Progressive Corporation (PGR) has won the favor of Jefferies' equity research team. The firm upgraded the shares from Hold to Buy.
Core Laboratories N.V. (CLB) received an upgrade from analysts at Citigroup. They changed their rating on CLB to Neutral from Sell in a recently issued research note.
Earlier Friday Baird reduced its rating on Norfolk Southern Corporation (NSC) stock to Neutral from Outperform and assigned the price target to $240.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Lyft Inc. (LYFT) has been changed to Sector Perform from Outperform and the new price target is set at $16.
Analysts at JP Morgan downgraded Principal Financial Group Inc. (PFG)'s stock to Underweight from Neutral Friday.
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Latest Insider Activity
1Life Healthcare Inc. (ONEM) Chair, CEO and President Rubin Amir Dan announced the sale of shares taking place on Oct 06 at $17.08 for some 1,825,289 shares. The total came to more than $31.18 million.
Twitter Inc. (TWTR) General Manager of Core Tech Caldwell Nick V. sold on Oct 06 a total 10,921 shares at $50.95 on average. The insider’s sale generated proceeds of almost $556,425.
Consolidated Edison Inc. (ED) Chairman, President & CEO Cawley Timothy declared the purchase of shares taking place on Oct 03 at $87.57 for some 80 shares. The transaction amount was around $7006.0.
Tricida Inc. (TCDA) 10% Owner Venrock Healthcare Capital Par bought on Oct 04 a total 223,100 shares at $11.81 on average. The purchase cost the insider an estimated $2.63 million.
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.
Important Earnings
Top US earnings releases scheduled for next 5 days include E2open Parent Holdings Inc. (NYSE: ETWO). It will announce its Aug 2022 financial results. The company is expected to report earnings of $0.06 per share from revenues of $163.39M in the three-month period.
Analysts expect Applied Blockchain Inc. (NASDAQ: APLD) to report a net income (adjusted) of -$0.1 per share, when the company releases its quarterly results Tuesday. Revenue for the fiscal quarter ended Aug 2022 is predicted to come in at $6.64M.
AZZ Inc. (AZZ), due to announce earnings before the market opens Tuesday, is expected to report earnings of $1.35 per share from revenues of $470.94M 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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