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- 09 Sep - NH - Morning Newsletter (with survey at top and bottom)
09 Sep - NH - Morning Newsletter (with survey at top and bottom)
Top 4 Stocks to Trade Before the Weekend
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Good Morning!As traders discussed Federal Reserve Chair Jerome Powell's latest comments on inflation, U.S. stock futures rose Friday.There was a 0.65% rise in Dow Jones Industrial Average futures. Futures for the S&P 500 and Nasdaq 100 rose 0.7% and 1%, respectively.After DocuSign reported an earnings beat, shares surged more than 17% in extended trading. Additionally, the company provided a better-than-expected forecast for third-quarter revenue.Dow Jones Industrial Average rose 193 points, or 0.61%, on Thursday, after fluctuating between gains and losses throughout the day. The Nasdaq Composite advanced 0.60 percent, while the S&P 500 gained 0.66%.After three weeks of losing, all three major averages are on track of recovery. By Thursday, the Dow had risen 1.45%. The Nasdaq Composite is up 1.99%, while the S&P 500 is up 2.09%.Stocks have been on a roller coaster ride as Wall Street expects a 0.75 percentage point rate hike this month after the Fed chairman once again reiterated his commitment to bringing inflation down.
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
DocuSign Inc. (DOCU) stock soared 17.77% to $68.25 in the pre-market trading after announcing second quarter fiscal 2023 financial results.
Digital Media Solutions Inc. (NYSE: DMS) shares are trading up 63.28% at $2.09 at the time of writing following the receipt of non-binding "Go Private" proposal.
Zscaler Inc. (ZS) grew over 13.45% at $175.0 in pre-market trading today. The company reported Q4 and Fiscal 2022 financial results.
Quotient Limited (QTNT), a Diagnostics & Research company, rose about 29.66% at $0.2269 in pre-market trading Friday after announcing that it was selected by the World Economic Forum to join their New Champions Community.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on Regeneron Pharmaceuticals Inc. (REGN), upgrading the stock to "Overweight" and assigning a $851.00 price target, representing potential upside of 20.05% from Thursday's close.
Penumbra Inc. (PEN) has won the favor of Needham's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $244.00, suggesting 23.53% additional upside for the stock.
American Water Works Company Inc. (AWK) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $165.00. They changed their rating on AWK to Neutral from Underweight in a recently issued research note.
Earlier Friday Barclays reduced its rating on Navient Corporation (NAVI) stock to Equal-Weight from Overweight and assigned the price target to $13.00.
Bernstein analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Virgin Galactic Holdings Inc. (SPCE) has been changed to Underperform from Market Perform and the new price target is set at $4.00.
Analysts at Morgan Stanley downgraded Alector Inc. (ALEC)'s stock to Equal-Weight from Overweight Friday.
The A.I. That Every Trader Should Use
There's nothing wrong with the diligent analysis you're doing. That's a huge reason why you've been successful so far, but that's not enough.
Unfortunately, you'll never fully take control of your financial future if you're only using information from the past – lagging indicators and historical data. To bring your trading success to new heights, you will need a tool that uses past data to predict future stock movements.
Latest Insider Activity
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer announced the sale of shares taking place on Sep 06 at $160.06 for some 342 shares. The total came to more than $54741.0.
Tilray Brands Inc. (TLRY) Director Kennedy Brendan sold on Sep 06 a total 350,000 shares at $3.22 on average. The insider’s sale generated proceeds of almost $1.13 million.
Cleveland-Cliffs Inc. (CLF) Director Miller Janet L declared the purchase of shares taking place on Sep 08 at $17.45 for some 1,425 shares. The transaction amount was around $24865.0.
Sorrento Therapeutics Inc. (SRNE) Ji Henry bought on Sep 07 a total 88,888 shares at $2.02 on average. The purchase cost the insider an estimated $179,349.
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.
Important Earnings
Top US earnings releases scheduled for today include The Kroger Co. (NYSE: KR). It will announce its Jul 2022 financial results. The company is expected to report earnings of $0.83 per share from revenues of $34.53B in the three-month period.
Analysts expect ABM Industries Incorporated (NYSE: ABM) to report a net income (adjusted) of $0.9 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2022 is predicted to come in at $1.91B.
Lesaka Technologies Inc. (LSAK), due to announce earnings before the market opens today, is expected to report revenues of $92.39M 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.