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- 11 Nov - ST - Morning Newsletter (with survey at top and bottom)
11 Nov - ST - Morning Newsletter (with survey at top and bottom)
4 Active Stocks to Watch in Today's Session
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Good Morning!Early Friday, stock futures rose in response to China's announcement that it would ease some Covid measures. There was an increase of 210 points, or 0.62 percent, in Dow Jones industrial average futures. Nasdaq 100 futures rose 108 points, or 0.93%, while S&P 500 futures surged 0.7%.One-day rallies for the major averages were their strongest since 2020. There was a jump of more than 1,200 points in the Dow. A 5.5% rise in the S&P and a 7.4% spike in the Nasdaq Composite was noted.There is strong momentum for all indexes to post a positive week. The Dow closed the week up 4%, while the S&P and Nasdaq increased 4.9% and 6.1%, respectively. There is also a good chance that the three averages will finish the month positively.Investors were encouraged by the Bureau of Labor Statistics' report, in which consumer prices rose less than expected for October. U.S. Treasury yields plummeted following the release of the data, while tech stocks climbed.Meanwhile, A preliminary report on consumer sentiment will be released by the University of Michigan at 10:00 a.m. ET.
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Today Top Movers
Matterport Inc. (MTTR) stock soared 23.1% to $3.73 in the pre-market trading after announcing record third quarter 2022 financial results.
Doximity Inc. (NYSE: DOCS) shares are trading up 18.95% at $31.32 at the time of writing following the declaration of fiscal 2023 second quarter financial results.
Otonomy Inc. (OTIC) grew over 14.35% at $0.098 in pre-market trading today. The company recently reported Q3 2022 financial results.
Pagaya Technologies Ltd. (PGY), a Software - Infrastructure company, rose about 14.79% at $1.63 in pre-market trading Friday after releasing Q3 2022 results.
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Top Upgrades & Downgrades
BofA turned bullish on Coherent Corp. (COHR), upgrading the stock to "Buy" and assigning a $45 price target, representing potential upside of 28.24% from Thursday's close.
Light & Wonder Inc. (LNW) has won the favor of Macquarie's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $65, suggesting 13.63% additional uppside for the stock.
Werner Enterprises Inc. (WERN) received an upgrade from analysts at UBS. They changed their rating on WERN to Buy from Neutral in a recently issued research note.
Earlier Friday Barclays reduced its rating on HireRight Holdings Corporation (HRT) stock to Equal-Weight from Overweight and assigned the price target to $9.
Raymond James analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Jounce Therapeutics Inc. (JNCE) has been changed to Outperform from Strong Buy and the new price target is set at $3.
Analysts at BMO Capital downgraded Maverix Metals Inc. (MMX)'s stock to Market Perform from Outperform Friday.
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Latest Insider Activity
Opendoor Technologies Inc. (OPEN) CEO Wu Eric Chung-Wei announced the sale of shares taking place on Nov 10 at $1.71 for some 100,000 shares. The total came to more than $0.17 million.
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer sold on Nov 08 a total 327 shares at $95.93 on average. The insider’s sale generated proceeds of almost $31369.0.
Intel Corporation (INTC) Director TAN LIP BU declared the purchase of shares taking place on Nov 08 at $27.98 for some 48,146 shares. The transaction amount was around $1.35 million.
Alphabet Inc. (GOOG) Member of 10% Group GV 2021 GP, L.L.C. bought on Nov 09 a total 182,312 shares at $34.60 on average. The purchase cost the insider an estimated $6.31 million.
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Important Earnings
Top US earnings releases scheduled for today include Algonquin Power & Utilities Corp. (NYSE: AQN). It will announce its Sep 2022 financial results. The company is expected to report earnings of $0.17 per share from revenues of $594.76M in the three-month period.
Analysts expect Innovid Corp. (NYSE:CTV) to report a net income (adjusted) of -$0.05 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2022 is predicted to come in at $34.53M.
Superior Drilling Products Inc. (SDPI), due to announce earnings before the market opens today, is expected to report earnings of $0.03 per share from revenues of $5.7M 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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