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- 14 Oct - NH - Morning Newsletter (with survey at top and bottom)
14 Oct - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Closing the Week Strong
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Good Morning!Despite a historic rally in the major averages, stock futures declined early Friday morning as investors shifted their attention to big bank earnings.Dow Jones Industrial Average futures fell 95 points, or 0.32%. Futures on the S&P 500 fell 0.4% and those on the Nasdaq 100 slided 0.61%.After losing over 500 points earlier in the day, the Dow closed up 827 points in regular trading. Despite losing six days in a row, the S&P 500 gained 2.6% to snap its losing streak. There was a 2.2% increase in the Nasdaq Composite.This arrives amid inflation in the U.S. came in hotter than anticipated for September, according to the consumer price index. It initially made markets nervous, as investors braced themselves for more rate hikes by the Federal Reserve. Eventually, however, they put those worries behind them.Investors' worries about the Fed's policy tightening remain a concern as long as inflation persists.However, like in the previous reporting period, investors are hopeful that third-quarter earnings can stabilize the market.While some companies have already announced their quarterly results, big banks will launch their reporting on Friday. A number of major banks are scheduled to report before the bell, including JPMorgan Chase, Wells Fargo, Morgan Stanley, and Citigroup. U.S. Bancorp, PNC Financial, and UnitedHealth are also on the list.The economy will continue to be in the spotlight this week as well. There will be an announcement on September's retail sales at 8:30 a.m. ET. University of Michigan consumer sentiment data are due later in the morning.
Free Report: Top Stocks to Consider Heading Into the 2022 Midterms
With midterm elections around the corner, the only certainty is uncertainty.
And while we can't say which party is the likely winner, we can point you in the direction of several stocks that could blast higher once the smoke clears.
Today Top Movers
IMARA Inc. (IMRA) stock soared 17.83% to $3.04 in the pre-market trading following the announcement of merger agreement with Enliven Therapeutics.
Aurora Mobile Limited (NASDAQ: JG) shares are trading up 3.87% at $0.94 at the time of writing. The company has recently launched its overseas messaging service platform EngageLab to help developers with effective global user reach.
Daqo New Energy Corp. (DQ) grew over 4.38% at $52.86 in pre-market trading today after its subsidiaries announced five-year high-purity polysilicon supply agreement with Shuangliang Eco-Energy.
Eargo Inc. (EAR), a Medical Devices company, rose about 11.2% at $0.7895 in pre-market trading Friday after announcing record date for proposed rights offering.
Rare Metal Discovery: Tiny Sub-$0.25 Stock Set to Deliver Gains
Smart investors are blowing away Wall Street's so-called experts on clean energy stocks. And with the green-energy revolution in full-swing, the near-term gains could be absolutely life-changing. The timing is dead-on accurate with this sub-US$0.25 stock securing an ultra-rare clean energy resource on North American soil that China doesn't want us to have.
Top Upgrades & Downgrades
Cowen turned bullish on Delta Air Lines Inc. (DAL), upgrading the stock to "Outperform" and assigning a $54 price target, representing potential upside of 77.74% from Thursday's close.
Harmony Biosciences Holdings Inc. (HRMY) has won the favor of Jefferies' equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $61, suggesting 28.07% additional upside for the stock.
Infosys Limited (INFY) received an upgrade from analysts at Investec. They changed their rating on INFY to Buy from Hold in a recently issued research note.
Earlier Friday Canaccord Genuity reduced its rating on T2 Biosystems Inc. (TTOO) stock to Hold from Buy and assigned the price target to $2.5.
Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for FIGS Inc. (FIGS) has been changed to Equal Weight from Overweight and the new price target is set at $9.00.
Analysts at BofA downgraded Organon & Co. (OGN)'s stock to Underperform from Neutral Friday.
Here's Our Top 6 Stock Picks
Grab our list of stocks trading for less than $5 a share. Each of these stocks is in an excellent position to deliver potential breakthroughs in the months ahead.
Latest Insider Activity
NVIDIA Corporation (NVDA) Director STEVENS MARK A announced the sale of shares taking place on Oct 11 at $116.49 for some 85,000 shares. The total came to more than $9.9 million.
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer sold on Oct 11 a total 342 shares at $131.44 on average. The insider’s sale generated proceeds of almost $44,952.
CalAmp Corp. (CAMP) Director Cummins Wes declared the purchase of shares taking place on Oct 12 at $3.38 for some 60,000 shares. The transaction amount was around $0.2 million.
Ocular Therapeutix Inc. (OCUL) 10% Owner SUMMER ROAD LLC bought on Oct 11 a total 10,000 shares at $3.90 on average. The purchase cost the insider an estimated $38,993.
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Important Earnings
Top US earnings releases scheduled for today include Citigroup Inc. (NYSE: C). It will announce its Sep 2022 financial results. The company is expected to report earnings of $1.42 per share from revenues of $18.25B in the three-month period.
Analysts expect JPMorgan Chase & Co. (NYSE: JPM) to report a net income (adjusted) of $2.88 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2022 is predicted to come in at $32.09B.
U.S. Bancorp (USB), due to announce earnings before the market opens today, is expected to report earnings of $1.17 per share from revenues of $6.24B 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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