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- 13 June - NH - Morning Newsletter (with survey at top and bottom)
13 June - NH - Morning Newsletter (with survey at top and bottom)
4 Best Stocks to Watch In Depressed Market
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Good Morning!
In the main US stock market’s, the session on June 10, s closed in the red zone. The S&P 500 fell 2.91% to close at 3,901. The Nasdaq and Dow Jones fell 3.52% and 2.73%, respectively. All 11 sectors of the S&P 500 closed in negative territory. The worst performers were cyclical consumer goods (-4.16%) and IT companies (-3.89%).Company news
Shares of Booking (BKNG: -7.6%), along with other travel industry stocks, came under pressure as bidders fear inflation could hurt demand in the industry.
Illumina (ILMN: -9%) announced the resignation of its CFO, raising investor concerns amid the changing competitive landscape and the company's new product launches.
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Today Top Movers
bluebird bio Inc. (BLUE) stock soared 75.07% to $6.53 in the pre-market trading after announcing the outcome of the FDA Advisory Committee discussion of betibeglogene autotemcel (beti-cel) for the treatment of people with beta-thalassemia.
Imperial Petroleum Inc. (NASDAQ: IMPP) shares are trading up 14.51% at $1.01 at the time of writing. The company will release its first-quarter financial results for the period ended March 31, 2022, before the market opens in New York on June 14, 2022.
ABVC BioPharma Inc. (ABVC) grew over 24.44% at $1.12 in pre-market trading today after declaring termination of two contracts.
Gracell Biotechnologies Inc. (GRCL), a Biotechnology company, rose about 9.09% at $3.6 in pre-market trading Monday after reporting the updated clinical data from a multicenter study evaluating GC012F.
Smart-Money Driving Small-Cap Uranium Stocks to Dizzying Heights
The 2022 Uranium Bull Market has arrived and it looks like one for the history books. Just like last time when investors watched the Uranium price shoot all the way to $140. In the immortal musings of all-time Yankee great, Yogi Berra, 'It's Déjá Vu All Over Again!' because this US$4 Uranium stock just secured royalty interests on the two largest and richest high-grade uranium mines on the planet.
Top Upgrades & Downgrades
UBS turned bullish on Quanta Services, Inc. (PWR), upgrading the stock to Buy and assigning a $156.00 price target, representing potential upside of 23.35% from Friday's close.
Tesla Inc. (TSLA) has won the favor of RBC Capital's equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $1100.00, suggesting 57.89% additional upside for the stock.
Grupo Financiero Galicia S.A. (GGAL) received an upgrade from analysts at Grupo Santander, who also set their one-year price target on the stock to $21.30. They changed their rating on GGAL to Outperform from Hold in a recently issued research note.
Earlier Monday, BMO Capital reduced its rating on T. Rowe Price Group Inc. (TROW) stock to Market Perform from Outperform and assigned the price target to $135.00.
BMO Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Invesco Ltd. (IVZ) has been changed to Market Perform from Outperform and the new price target is set at $20.00.
Analysts at Piper Sandler downgraded New Residential Investment Corp. (NRZ)'s stock to Underweight from Neutral Monday.
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Latest Insider Activity
Robinhood Markets Inc. (HOOD) Chief Financial Officer Warnick Jason announced the sale of shares taking place on Jun 08 at $8.53 for some 20,000 shares. The total came to more than $0.17 million.
Block Inc. (SQ) Square Lead Henry Alyssa sold on Jun 08 a total 30,770 shares at $85.79 on average. The insider’s sale generated proceeds of almost $2.64 million.
SoFi Technologies Inc. (SOFI) Chief Executive Officer Noto Anthony declared the purchase of shares taking place on Jun 10 at $5.98 for some 33,455 shares. The transaction amount was around $0.2 million.
American Eagle Outfitters Inc. (AEO) Director Sable David M. bought on Jun 10 a total 500 shares at $12.00 on average. The purchase cost the insider an estimated $6,000.
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After months of research, one legendary early stage investment expert has uncovered the complete story behind Elon Musk's secret L.A.S.E.R. project.
Important Earnings
Top US earnings releases scheduled for tomorrow include Tuya Inc. (NYSE:TUYA). It will announce its Mar 2022 financial results. The company is expected to report earnings of -$0.09 per share from revenues of $56.2M in the three-month period.
Analysts expect Algoma Steel Group Inc. (NASDAQ: ASTL) to report a net income (adjusted) of $1.57 per share when the company releases its quarterly results. Revenue for the fiscal quarter ended Mar 2022 is predicted to come in at $961M.
IronNet Inc. (IRNT), due to announce earnings before the market opens Tuesday, is expected to report earnings of -$0.17 per share from revenues of $7.02M 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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