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12 July - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks Breaking Out Today
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Good Morning!
At the last close on July 11, the main US stock markets ended in the red zone. The S&P 500 slipped 1.15% to 3854, the Dow Jones corrected 0.52% and the Nasdaq fell 2.26%. Ten of the 11 sectors included in the broad market index closed in the red. In the green zone, only representatives of public utilities remained (+0.64%).Corporate updates
Innova (INVA: -0.1%) is set to take over La Jolla Pharmaceutical (LJPC: +81.1%) for $6.23 per share in cash.
Alibaba Group (BABA: -9.4%) has been fined by the Chinese government for failing to comply with antitrust regulations and failing to disclose information about several transactions. The same penalty was applied to Tencent Holdings (700: -1.29%) and some other companies.
Uber Technologies (UBER: -5.2%) said in The Guardian that it acknowledges its mistakes and is working on changes. The company also agreed that it was not authorized to operate in many of the jurisdictions where it provided services, and also admitted withholding evidence from authorities and ignoring the risks of violence for drivers.
New report says this biotech could run over 337% (See Ticker)
We are keeping a close eye on this tiny biotech stock.
This little-known company already has 14 patents - and they are pioneering
a new type of therapeutic treatment for Cancer patients
Maybe that's why one of Wall Street's leading analysts recently predicted this stock could run 300% within the next 12-months.
Today Top Movers
Greenwich LifeSciences Inc. (GLSI) stock soared 13.57% to $9.79 in the pre-market trading after announcing that the Food and Drug Administration (FDA) has removed the clinical hold permitting the Flamingo-01 Phase III clinical trial to proceed.
Canoo Inc. (NASDAQ: GOEV) shares are trading up 29.54% at $3.07 at the time of writing. Walmart has signed a definitive agreement with Canoo, to purchase 4,500 all-electric delivery vehicles.
Novo Integrated Sciences Inc. (NVOS) grew over 17.99% at $2.23 in pre-market trading today after reporting that its preliminary unaudited revenue for the third quarter of fiscal 2022 is expected to be in the range of $13.4 million to $13.9 million.
WISeKey International Holding AG (WKEY), a Semiconductors company, rose about 9.35% at $2.69 in pre-market trading Tuesday after releasing its preliminary unaudited financial results for the six-month period ended June 30, 2022.
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Top Upgrades & Downgrades
RBC Capital turned bullish on DCP Midstream LP (DCP), upgrading the stock to Outperform and assigning a $40 price target, representing potential upside of 36.89% from Monday's close.
Knight-Swift Transportation Holdings Inc. (KNX) has won the favor of Wolfe Research's equity research team. The firm upgraded the shares from Underperform to Peer Perform.
JPMorgan Chase & Co. (JPM) received an upgrade from analysts at Citi. They changed their rating on JPM to Buy from Neutral in a recently issued research note.
Earlier Tuesday JP Morgan reduced its rating on Lennar Corporation (LEN) stock to Neutral from Overweight and assigned the price target to $80.
Citigroup analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Regions Financial Corporation (RF) has been changed to Neutral from Buy and the new price target is set at $20.
Analysts at Oppenheimer downgraded Capital One Financial Corporation (COF)'s stock to Perform from Outperform Tuesday.
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
Twitter Inc. (TWTR) General Manager of Core Tech Caldwell Nick V. announced the sale of shares taking place on Jul 07 at $38.38 for some 10,921 shares. The total came to more than $0.42 million.
Gevo Inc. (GEVO) Chief Commercial Officer Cesarek Timothy J sold on Jul 07 a total 98,526 shares at $2.53 on average. The insider’s sale generated proceeds of almost $249,271.
Occidental Petroleum Corporation (OXY) 10% Owner BERKSHIRE HATHAWAY INC declared the purchase of shares taking place on Jul 06 at $57.95 for some 3,868,242 shares. The transaction amount was around $224.15 million.
BitNile Holdings Inc. (NILE) 10% Owner BitNile Holdings, Inc. bought on Jul 08 a total 5,249 shares at $7.85 on average. The purchase cost the insider an estimated $41,205.
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Important Earnings
Top US earnings releases scheduled for today include PepsiCo, Inc. (PEP). It will announce its Jun 2022 financial results. The company is expected to report earnings of $1.74 per share from revenues of $19.51B in the three-month period.
Analysts expect AngioDynamics Inc. (NASDAQ:ANGO) to report a net income (adjusted) of $0.01 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2022 is predicted to come in at $83.25M.
America Movil S.A.B. de C.V. (AMX), due to announce earnings after the market closes today, is expected to report earnings of $0.41 per share from revenues of $10.91B 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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