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- 13 Oct - NH - Morning Newsletter (with changes)
13 Oct - NH - Morning Newsletter (with changes)
4 Trending Stocks to Watch Today
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Good Morning!
U.S. stock index futures edged higher on Wednesday as investors looked ahead to JPMorgan's quarterly report that will kick off the corporate earnings season. Investors were also keeping an eye on inflation data for hints about monetary policy.As the quarterly earnings season kicks off, some analysts are also concerned that rising commodity prices has negatively impacted corporate earnings. But since the largest increase has only recently taken place and companies often purchase their raw materials in advance, this may not become visible until the 4th quarter or later. Analysts were expecting JPMorgan to report a strong profit in the third quarter as the nation's economy recovers from the pandemic.Investors will also know about the economic situation this afternoon at 2:30 PM, when the US government will announce the inflation figures for September. Economists expect an increase of 0.3% (on a monthly basis) and an increase of 5.3% on an annual basis. Excluding energy and food, the CPI is also expected to be 0.3% higher than a month earlier, but about 4% year-on-year.
Investor Alert: EV Initiatives Create Unsustainable Demand For LithiumThe soaring demand for lithium is driven by worldwide demand for electric vehicles (EVs). Lithium is ideal for electric cars. It's lightweight, stores lots of energy and is rechargeable. Sales of EVs are expected to increase 10-fold by 2030 and estimates are that 1 in 2 cars sold will be electric by 2040.
Today Top Movers
Koss Corporation (KOSS) stock soared 14.75% to $22.01 in the pre-market trading after Apple rebuffed in patent challenges.
Medigus Ltd. (NASDAQ: MDGS) shares are trading up 9.59% at $1.6 at the time of writing following the declaration from the company that it will invest in Safee, a Non-Fungible Token (NFT) technology company.
Plug Power Inc. (PLUG) grew over 5.27% at $31.35 in pre-market trading today after declaring a strategic partnership with Airbus to study the feasibility of bringing green hydrogen to future aircraft and airports worldwide. The company also received upgrade rating from Morgan Stanley today.
Kintara Therapeutics Inc. (KTRA), a Biotechnology company, rose about 14.02% at $1.09 in pre-market trading Wednesday. The company is dedicated to the development of novel cancer therapies for patients with rare unmet medical needs. K
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Top Upgrades & Downgrades
HSBC turned bullish on Constellation Brands Inc. (STZ), upgrading the stock to "Buy" and assigning a $262.00 price target, representing a potential upside of 19.78% from Tuesday's close.
Graphic Packaging Holding Company (GPK) has won the favor of Baird's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $24.00, suggesting 34.32% additional upside for the stock.
Xcel Energy Inc. (XEL) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $76.00. They changed their rating on XEL to Buy from Neutral in a recently issued research note.
Earlier Wednesday Baird reduced its rating on Skyworks Solutions Inc. (SWKS) stock to Neutral from Outperform and assigned the price target to $165.00.
Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Monster Beverage Corporation (MNST) has been changed to Hold from Buy and the new price target is set at $92.00.
Analysts at Jefferies downgraded Wayfair Inc. (W)'s stock to Hold from Buy Wednesday.
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Latest Insider Activity
Unity Software Inc. (U) SVP, CLO & GC & Corp Sec'y Keene Ruth Ann announced the sale of shares taking place on Oct 11 at $136.89 for some 7,000 shares. The total came to more than $0.96 million.
Magnolia Oil & Gas Corporation (MGY) Director EnerVest, Ltd. sold on Oct 07 a total 18,735,406 shares at $18.50 on average. The insider’s sale generated proceeds of almost $92.5 million.
DigitalBridge Group Inc. (DBRG) 10% Owner LANDMARK DIVIDEND LLC declared the purchase of shares taking place on Oct 11 at $16.42 for some 452,158 shares. The transaction amount was around $7.43 million.
Lamb Weston Holdings Inc. (LW) Director Bensen Peter J bought on Oct 11 a total 11,952 shares at $55.75 on average. The purchase cost the insider an estimated $278,740.
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Important Earnings
Top US earnings releases scheduled for today include JPMorgan Chase & Co. (NYSE:JPM). It will announce its Sep 2021 financial results. The company is expected to report earnings of $3 per share from revenues of $29.76B in the three-month period.
Analysts expect E2open Parent Holdings Inc. (NYSE:ETWO) 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 Aug 2021 is predicted to come in at $90.9M.
Esports Entertainment Group Inc. (GMBL), due to announce earnings after the market closes today, is expected to report earnings of -$0.22 per share from revenues of $8.98M recently concluded three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,News Heater Team
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