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- 13 July - ST - Morning Newsletter (with survey at top and bottom)
13 July - ST - Morning Newsletter (with survey at top and bottom)
4 Best Stocks to Trade Today
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Good Morning!
On July 12, American stock markets ended the session in the red zone. The S&P 500 fell 0.92% to 3818, the Nasdaq slipped 0.95% and the Dow Jones dropped 0.62%. All 11 sectors of the broad market index closed in the red. Energy companies (-2.03%) showed the deepest correction due to the decline in oil prices, the IT sector also crashed stronger than the market (-1.34%).Corporate Updates
Peloton Interactive, Inc (PTON: +3.70%) intends to optimize its cost structure.
The Gap, Inc (GPS: -5.02%) announced the resignation of Sonia Singal as CEO.
Walmart Inc (WMT: -0.30%) signed an agreement to buy at least 4,500 electric vans manufactured by Canoo Inc (GOEV: +53.16%).
Technical OverviewThe S&P 500 continues to move in a downtrend. RSI is in the neutral zone. MACD does not give specific signals to change the current dynamics. The transition of the broad market index to consolidation in a narrow corridor is possible. The nearest support is in the range of 3600-3660 points.
Even In The Markets, History Repeats Itself…
Not sure what's going to happen next in these markets? Look to history. In 2004-2006, we saw backbreaking inflation run rampant just like today. And what happened next? An historic bull market. The deck is stacking again for another bull market - and it could dwarf the last one.
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Today Top Movers
XORTX Therapeutics Inc. (XRTX) stock surged 110.56% to $2.59 in the pre-market trading after releasing positive topline results from Part 1 of the three part Pharmacokinetics Bridging Study.
ironSource Ltd. (NYSE: IS) shares are trading up 41.7% at $3.16 at the time of writing after announcing a definitive agreement with Unity (NYSE: U) under which ironSource will merge into a wholly-owned subsidiary of Unity via an all-stock deal.
Minim Inc. (MINM) grew over 16.98% at $0.425 in pre-market trading today following the launch of the Motorola Q11, a new WiFi 6 mesh system that delivers the most powerful wireless performance of the company’s intelligent networking devices to-date.
Novavax Inc. (NVAX), a Biotechnology company, rose about 1.89% at $71.08 in pre-market trading Wednesday after announcing that it has entered into an agreement with the U.S. government to supply 3.2 million doses of NVX-CoV2373, its protein-based COVID-19 vaccine.
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.
Top Upgrades & Downgrades
SVB Leerink turned bullish on BioNTech SE (BNTX), upgrading the stock to Outperform and assigning a $223 price target, representing potential upside of 38.15% from Tuesday's close.
PowerSchool Holdings Inc. (PWSC) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $16.00, suggesting 27.29% additional upside for the stock.
Armstrong World Industries Inc. (AWI) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $93.00. They changed their rating on AWI to Buy from Neutral in a recently issued research note.
Earlier Wednesday Piper Sandler reduced its rating on F5, Inc. (FFIV) stock to Neutral from Overweight and assigned the price target to $173.00.
Cantor Fitzgerald analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Humanigen, Inc. (HGEN) has been changed to Neutral from Overweight and the new price target is set at $2.00.
Analysts at Piper Sandler downgraded Juniper Networks, Inc. (JNPR)'s stock to Underweight from Neutral Wednesday.
This One Last Idea From Steve Jobs May Transform Apple Once More
Forget iPhones, MacBooks, and iPads... Apple's Project Titan could be 10X bigger than all of them COMBINED. The analyst who was ranked as America's #1 Stock Picker in 2020 by TipRanks details the huge 40X opportunity behind what could be Apple's biggest project yet.
Latest Insider Activity
Zoom Video Communications Inc. (ZM) Pres. of Engineering & Product Sankarlingam Velchamy announced the sale of shares taking place on Jul 12 at $109.79 for some 2,319 shares. The total came to more than $0.25 million.
Autodesk Inc. (ADSK) VP & Chief Accounting Officer Hope Stephen W. sold on Jul 12 a total 327 shares at $177.43 on average. The insider’s sale generated proceeds of almost $58020.0.
Keurig Dr Pepper Inc. (KDP) Chief Supply Chain Officer Milikin Maurice Anthony declared the purchase of shares taking place on Jul 11 at $36.17 for some 12,979 shares. The transaction amount was around $0.47 million.
Franklin Resources Inc. (BEN) Affiliate of Investment Adv. FRANKLIN RESOURCES INC bought on Jul 11 a total 56,123 shares at $4.32 on average. The purchase cost the insider an estimated $242,367.
Bill Gates' Secretive Investment
Some of the world's biggest investors and hedge funds like Bill Gates and BlackRock are investing millions into this company.
Important Earnings
Top US earnings releases scheduled for today include Fastenal Company (FAST). It will announce its Jun 2022 financial results. The company is expected to report earnings of $0.5 per share from revenues of $1.79B in the three-month period.
Analysts expect The Valens Company Inc. (NASDAQ: VLNS) to report revenue of $20.61M for the fiscal quarter ended May 2022 .
Washington Federal Inc. (WAFD), due to announce earnings after the market closes today, is expected to report earnings of $0.77 per share from revenues of $142.86M 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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