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- 08 Aug - ST - Morning Newsletter (with survey at top and bottom)
08 Aug - ST - Morning Newsletter (with survey at top and bottom)
4 Stocks You Must Watch Before the Market Opens
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Good Morning!
Wall Street anticipates moderate increases after the mixed closing on Friday, following the publication of much better than expected employment data in the US, which anticipates a more aggressive Federal Reserve (Fed) in its monetary tightening to cool the economy and lower the inflation. Although analysts are still debating whether the data is good or bad for the stock markets, since the positive employment data also indicates that a possible recession in the US due to rate hikes may be very mild, if it finally occurs. In this scenario, the great reference will undoubtedly be the inflation figure for July in the US, which will be published Wednesday at 2:30 p.m. (consensus +0.2% compared to the previous month and +8.7% year-on-year - a slowdown after a record 9.1% in June; consensus +0.5% excluding food and energy compared to June and +6.1% over one year according to FactSet). There will be no significant statistics on Monday, pending non-agricultural productivity figures tomorrow Tuesday.Bank stocks performed well on Friday, while the broad market ended mixed. JPMorgan Chase& Co reported a gain of 2.98%. Dow Jones ended the week with a 0.10% gain at 32,762 points. Tech-heavy Nasdaq fell 0.84% to 13,191 points, while the S&P 500 suffered a drop of 0.23%.
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.
Today Top Movers
Myovant Sciences Ltd. (MYOV) stock soared 16.4% to $17.6 in pre-market trading following the FDA’s approval of MYFEMBREE® as a one-pill, once-a-day therapy for the management of moderate to severe pain associated with endometriosis in pre-menopausal women, with a treatment duration of up to 24 months.
Kodiak Sciences Inc. (KOD) shares are trading up 27.00% at $12.37 at the time of writing. The company reported positive topline results from BEACON phase 3 study of Tarcocimab Tedromer (KSI-301) in patients with Retinal Vein Occlusion.
CarLotz, Inc. (LOTZ) grew over 21.88% at $0.73 in pre-market trading today. The Company will report financial results after market hours on Tuesday, August 9, 2022.
Iveda Solutions Inc. (IVDA), a Security & Protection Services company, rose about 46.62% at $1.95 in pre-market trading Monday after signing four contracts in Taiwan worth approximately $3 million in gross revenues.
The No. 1 Rebound Stock of 2022?
One of the most talked-about stocks of 2022 is set to take off any day. You can grab shares for less than $5... But likely not for long.
Top Upgrades & Downgrades
Goldman Sachs turned bullish on Rhythm Pharmaceuticals Inc. (RYTM), upgrading the stock to "Buy" and assigning a $28 price target, representing potential upside of 38.34% from Friday's close.
Corteva Inc. (CTVA) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Neutral to Overweight and moved its price target to $63.00, suggesting an 8.81% additional upside for the stock.
Centrais Eletricas Brasileiras S.A. (EBR) received an upgrade from analysts at Bradesco BBI, who also set their one-year price target on the stock to $13.55. They changed their rating on EBR to Outperform from Neutral in a recently issued research note.
Earlier Monday Citigroup reduced its rating on ACADIA Pharmaceuticals Inc. (ACAD) stock to Neutral from Buy and assigned the price target to $15.00.
JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Ball Corporation (BALL) has been changed to Neutral from Overweight and the new price target is set at $58.00.
Analysts at JP Morgan downgraded Nektar Therapeutics (NKTR)'s stock to Underweight from Neutral Monday.
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.
Latest Insider Activity
Apple Inc. (AAPL) SVP, GC and Secretary Adams Katherine L. announced the sale of shares taking place on Aug 03 at $164.77 for some 25,000 shares. The total came to more than $4.12 million.
Uber Technologies Inc. (UBER) See Remarks West Tony sold on Aug 04 a total 87,841 shares at $31.26 on average. The insider’s sale generated proceeds of almost $2.75 million.
Rocket Companies Inc. (RKT) Chief Executive Officer Farner Jay declared the purchase of shares taking place on Aug 03 at $10.24 for some 19,500 shares. The transaction amount was around $0.2 million.
BitNile Holdings Inc. (NILE) 10% Owner BitNile Holdings, Inc. bought on Aug 03 a total 11,000 shares at $1.16 on average. The purchase cost the insider an estimated $1,160.
Buy This $5 Stock Before Apple Car Announcement
Apple is preparing to upend the auto industry with their own EV... and this $5 stock could soar 40X once it goes live!
Important Earnings
Top US earnings releases scheduled for today include Itau Unibanco Holding S.A. (NYSE: ITUB). It will announce its Mar 2022 financial results. The company is expected to report earnings of $0.14 per share from revenues of $5.98B in the three-month period.
Analysts expect Barrick Gold Corporation (NYSE: GOLD) to report a net income (adjusted) of $0.31 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2021 is predicted to come in at $3.18B.
Viatris Inc. (VTRS), due to announce earnings before the market opens today, is expected to report earnings of $0.83 per share from revenues of $4.19B 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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