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- 08 Feb - NH - Morning Newsletter (with survey at top and bottom)
08 Feb - NH - Morning Newsletter (with survey at top and bottom)
4 Rallying Stocks To Trade Today
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Good Morning!The latest comments from the Federal Reserve chief put Wall Street on track for yet another loss Wednesday morning.78 points were lost by Dow Jones Industrial Average futures. Futures for the S&P 500 and Nasdaq-100 fell 0.4% and 0.4%, respectively. It is true that futures trimmed some losses following the State of the Union address of President Biden.Chipotle's results disappointed on both the top and bottom lines, leading to a drop of more than 5%. The stock price of cybersecurity company Fortinet soared more than 11% after the company surpassed earnings per share expectations.Despite the volatile trading on Tuesday, stocks ended the day near session highs. There was a 265-point jump in the Dow Jones Industrial Average, or 0.78%. There was a 1.29% rise in the S&P 500. The Nasdaq Composite, a tech-heavy index, gained 1.9%, outpacing the other two.In his speech at the Economic Club of Washington, D.C., Federal Reserve Chair Jerome Powell reiterated comments he made last week that raised investor hopes that the Fed will soon slow or reverse rate hikes. A brief fall into negative territory followed the remarks, followed by a jump in the major averages.Wednesday is set to be a busy day for corporate earnings. Among the companies reporting before the bell are CVS Health, Under Armour, Yum Brands and Uber Technologies. Following the bell, Walt Disney and Robinhood will release their results.Additionally, traders will pay attention to wholesale inventories, which are due out at 10 a.m. ET. Based on Dow Jones, economists predict an increase of 0.1% in December.
America's #1 Stock Picker Issues 5 Buy Alerts
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Today Top Movers
PainReform Ltd. (PRFX) stock soared 55.18% to $0.7759 in the pre-market trading following the receipt of extension to meet the Nasdaq’s minimum bid price requirement.
Fortinet Inc. (NASDAQ: FTNT) shares are trading up 12.12% at $60.3 at the time of writing after releasing Q4 and full year 2022 financial results.
Lion Group Holding Ltd. (LGHL) grew over 25.27% at $0.705 in pre-market trading today. The company declared that it will explore ChatGPT related AI & NLP technologies to empower digital program.
Manchester United plc (MANU), a Leisure company, rose about 17.42% at $24.8 in pre-market trading Wednesday after a report of an imminent Qatari bid for the high-profile team.
The ONLY Way to Play Markets Like These
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Top Upgrades & Downgrades
Redburn Partners turned bullish on Delta Air Lines Inc. (DAL), upgrading the stock to "Buy" and assigning a $55 price target, representing potential upside of 38.92% from Tuesday's close.
American Airlines Group Inc. (AAL) has won the favor of Redburn Partners' equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $25, suggesting 47.41% additional upside for the stock.
United Airlines Holdings Inc. (UAL) received an upgrade from analysts at Redburn Partners, who also set their one-year price target on the stock to $55. They changed their rating on UAL to Neutral from Sell in a recently issued research note.
Earlier Wednesday Jefferies reduced its rating on MEI Pharma Inc. (MEIP) stock to Underperform from Hold and assigned the price target to $0.1.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Discover Financial Services (DFS) has been changed to Equal-Weight from Overweight.
Analysts at LightShed Partners downgraded AT&T Inc. (T)'s stock to Neutral from Buy Wednesday.
NEW: Top 11 Stocks for 2023
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Latest Insider Activity
Schneider National Inc. (SNDR) EVP, Chief Admin Officer Reich Robert M JR announced the sale of shares taking place on Feb 06 at $29.64 for some 6,000 shares. The total came to more than $0.18 million.
Qualtrics International Inc. (XM) See Remarks Brightful De'Porres sold on Feb 03 a total 1,606 shares at $16.56 on average. The insider’s sale generated proceeds of almost $26600.0.
PacWest Bancorp (PACW) Director HOSLER C WILLIAM declared the purchase of shares taking place on Feb 03 at $26.48 for some 3,750 shares. The transaction amount was around $99300.0.
Akamai Technologies Inc. (AKAM) Chief Executive Officer LEIGHTON F THOMSON bought on Feb 07 a total 286 shares at $87.47 on average. The purchase cost the insider an estimated $25,016.
The Humble Mineral at the Heart of the EV Revolution (Not Lithium)
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Important Earnings
Top US earnings releases scheduled for today include Uber Technologies Inc. (NYSE: UBER). It will announce its Dec 2022 financial results. The company is expected to report earnings of -$0.18 per share from revenues of $8.48B in the three-month period.
Analysts expect CVS Health Corporation (NYSE: CVS) to report a net income (adjusted) of $1.92 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $76.21B.
Teva Pharmaceutical Industries Limited (TEVA), due to announce earnings before the market opens today, is expected to report earnings of $0.71 per share from revenues of $3.93B 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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