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- 12 Sep - ST - Morning Newsletter (with survey at top and bottom)
12 Sep - ST - Morning Newsletter (with survey at top and bottom)
4 Skyrocketing Stocks to Start the Week
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Good Morning!Wall Street is anticipating this week's key inflation data as it rallies.Futures for the Dow Jones Industrial Average gained 151 points, or 0.5%. Nasdaq 100 futures gained 0.7%, and S&P 500 futures gained 0.6%.U.S. stocks have enjoyed a winning week, snapping a three-week losing streak. S&P 500 rose 3.7%, while the Dow gained 2.6%. Nasdaq Composite gained 4.1%.As the Federal Reserve prepares to address high inflation, stocks have been volatile ahead of its September meeting.Investors speculated that the size of future rate hikes was likely to be smaller as inflation cools off, but Fed Chair Powell reiterated last week that he remains "strongly committed" to bringing inflation down.Traders are awaiting the release of the August consumer price index report on Tuesday. A report on inflation is one of the final pieces of data the Fed will see before its September meeting. We will get the retail sales report and the industrial production report on Thursday.
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.
Today Top Movers
Ra Medical Systems Inc. (RMED) stock soared 37.39% to $0.1999 in the pre-market trading after announcing that it has entered into an Agreement and Plan of Merger with privately held Catheter Precision, Inc.
Quhuo Limited (NASDAQ: QH) shares are trading up 24.0% at $3.41 at the time of writing. The company recently filed its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission.
Spectrum Pharmaceuticals Inc. (SPPI) grew over 18.92% at $1.54 in pre-market trading today. The firm released data from a poster presentation titled: High Activity of Poziotinib in G778_P780dup HER2 Exon 20 Insertion Mutations in Non-Small Cell Lung Cancer (NSCLC).
Clovis Oncology Inc. (CLVS), a Biotechnology company, rose about 13.91% at $1.31 in pre-market trading Monday after announcing results from a subgroup analysis of data from the monotherapy comparison of the randomized, Phase 3 ATHENA trial.
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.
Top Upgrades & Downgrades
Piper Sandler turned bullish on Carvana Co. (CVNA), upgrading the stock to "Overweight" and assigning a $73.00 price target, representing potential upside of 99.32% from Friday's close.
Carpenter Technology Corporation (CRS) has won the favor of Cowen & Co.'s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $45.00, suggesting 25.3% additional upside for the stock.
APA Corp (US) (APA) received an upgrade from analysts at Citi. They changed their rating on APA to Buy from Neutral in a recently issued research note.
Earlier Monday Wells Fargo reduced its rating on Cable One Inc. (CABO) stock to Equal-Weight from Overweight and assigned the price target to $1200.00.
Mizuho analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Adobe Inc. (ADBE) has been changed to Neutral from Buy and the new price target is set at $440.00.
Analysts at Goldman Sachs downgraded Oak Street Health Inc. (OSH)'s stock to Neutral from Buy Monday.
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
ContextLogic Inc. (WISH) 10% Owner Szulczewski Piotr announced the sale of shares taking place on Sep 09 at $1.29 for some 725,226 shares. The total came to more than $0.94 million.
Block Inc. (SQ) Square Lead Henry Alyssa sold on Sep 07 a total 30,769 shares at $65.79 on average. The insider’s sale generated proceeds of almost $2.02 million.
Globalstar Inc. (GSAT) Director COWAN KEITH O declared the purchase of shares taking place on Sep 09 at $1.69 for some 88,000 shares. The transaction amount was around $0.15 million.
Quotient Limited (QTNT) Director von Prondzynski Heino bought on Sep 06 a total 100,000 shares at $0.17 on average. The purchase cost the insider an estimated $16,890.
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Important Earnings
Top US earnings releases scheduled for today include Akoustis Technologies Inc. (NASDAQ: AKTS). It will announce its Jun 2022 financial results. The company is expected to report earnings of -$0.19 per share from revenues of $6.18M in the three-month period.
Analysts expect Red Cat Holdings Inc. (NASDAQ: RCAT) to report a net income (adjusted) of -$0.03 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2022 is predicted to come in at $2.65M.
Planet Labs PBC (PL), due to announce earnings after the market closes today, is expected to report earnings of -$0.16 per share from revenues of $42.36M 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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