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- 08 Dec - NH - Morning Newsletter (with survey at top and bottom)
08 Dec - NH - Morning Newsletter (with survey at top and bottom)
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Good Morning!In response to fears of a recession, U.S. stock futures were slightly lower on Thursday morning.Futures on the Dow Jones Industrial Average fell 20 points, or 0.06%. Nasdaq 100 futures slided 0.18%, while S&P 500 futures were down 0.11%.During extended trading, Rent the Runway shares rose more than 27%. In spite of rising inflation, online retailers topped revenue expectations in the most recent quarter.Meanwhile, Wednesday was the fifth consecutive losing session for the S&P 500, which declined 0.19%. There was little movement in the Dow, which added just 1.58 points. The Nasdaq Composite lost 0.51%.Several analysts expect the Federal Reserve to raise interest rates by 50 basis points next week. In comparison with the previous four rate hikes, this one is smaller. Nevertheless, investors are beginning to worry whether the central bank can avert a recession next year.A slew of companies are expected to report earnings after the bell on Thursday, including Lululemon, Athletica, DocuSign, Broadcom, and Costco.
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Today Top Movers
Rent the Runway Inc. (RENT) stock soared 16.18% to $1.58 in the pre-market trading after announcing third quarter 2022 results.
Atossa Therapeutics Inc. (NASDAQ: ATOS) shares are trading up 15.11% at $0.7656 at the time of writing. The company recently announced the appointment of Eric Van Zanten as Vice President, investor and public relations.
Addex Therapeutics Ltd (ADXN) grew over 10.49% at $0.69 in pre-market trading today after announcing extension of the research term of its collaboration agreement with Indivior PLC (LON: INDV).
Pharvaris N.V. (PHVS), a Biotechnology company, rose about 4.78% at $2.63 in pre-market trading Thursday following the release of its Q3 2022 financial results.
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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Top Upgrades & Downgrades
BTIG turned bullish on AVROBIO Inc. (AVRO), upgrading the stock to "Buy" and assigning a $4 price target, representing potential upside of 411.77% from Wednesday's close.
Apartment Income REIT Corp. (AIRC) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Sell to Buy and moved their price target to $43, suggesting 18.59% additional upside for the stock.
American Homes 4 Rent (AMH) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $39. They changed their rating on AMH to Buy from Neutral in a recently issued research note.
Earlier Thursday BMO Capital reduced its rating on Mirati Therapeutics Inc. (MRTX) stock to Market Perform from Outperform and assigned the price target to $59.
BMO Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Polaris Inc. (PII) has been changed to Market Perform from Outperform and the new price target is set at $110.
Analysts at Goldman Sachs downgraded AvalonBay Communities Inc. (AVB)'s stock to Neutral from Buy Thursday.
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Latest Insider Activity
Coinbase Global Inc. (COIN) Chairman and CEO Armstrong Brian announced the sale of shares taking place on Dec 05 at $46.86 for some 14,866 shares. The total came to more than $0.7 million.
Pinterest Inc. (PINS) Executive Chairman, Co-F Silbermann Benjamin sold on Dec 07 a total 150,000 shares at $22.61 on average. The insider’s sale generated proceeds of almost $3.39 million.
Datadog Inc. (DDOG) Director Jacobson Matthew declared the purchase of shares taking place on Dec 06 at $68.08 for some 69,244 shares. The transaction amount was around $4.71 million.
Hudson Pacific Properties Inc. (HPP) Chief Executive Officer COLEMAN VICTOR J bought on Dec 06 a total 9,300 shares at $10.63 on average. The purchase cost the insider an estimated $98,859.
25-cent Copper-Gold-Silver Opportunity You Don't Want to Miss
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Important Earnings
Top US earnings releases scheduled for today include Ciena Corporation (NYSE: CIEN). It will announce its Oct 2022 financial results. The company is expected to report earnings of $0.08 per share from revenues of $849.88M in the three-month period.
Analysts expect Chewy Inc. (NYSE: CHWY) to report a net income (adjusted) of -$0.09 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2022 is predicted to come in at $2.46B.
DocuSign Inc. (DOCU), due to announce earnings after the market closes today, is expected to report earnings of $0.42 per share from revenues of $626.88M 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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