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15 Feb - NH - Morning Newsletter (with survey at top and bottom)

Early Bird Stock Picks: 4 Must-Watch Stocks

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Good Morning!Wednesday morning, U.S. stock futures fell after the consumer price index showed a higher reading than expected in January.There was a loss of 86 points or 0.25% in Dow Jones Industrial Average futures. There was a 0.36% and 0.45% drop in S&P 500 and Nasdaq 100 futures, respectively. There was a drop of more than 156 points in the Dow during the trading session. A rather flat S&P 500 closed at 0.03% lower, while the tech-heavy Nasdaq Composite closed 0.57% higher.For January, inflation data came slightly higher than economists' estimates, suggesting a longer path for the Federal Reserve in combating rising prices. Compared to estimates of 0.4% monthly and 6.2% annually, the consumer price index increased by 0.5% for the month and 6.4% over the previous year.Before the bell on Wednesday, Biogen and Kraft Heinz will report their quarterly earnings.

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Today Top Movers

Vallon Pharmaceuticals Inc. (VLON) stock soared 33.83% to $0.87 in the pre-market trading following an SEC Form SC 13G/A filing.

OraSure Technologies Inc. (NASDAQ: OSUR) shares are trading up 13.59% at $5.6 at the time of writing after reporting record revenue of $123.1 million in 4Q22 growing 94% year-over-year.

Tripadvisor Inc. (TRIP) grew over 9.43% at $27.5 in pre-market trading today as investors cheered above-estimate forecast and estimate-beating results on strong demand for travel.

Airbnb Inc. (ABNB), a Travel Services company, rose about 9.04% at $131.8 in pre-market trading Wednesday after reported quarterly results that topped expectations, as well as its first annual profit.

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Top Upgrades & Downgrades

Morgan Stanley turned bullish on Focus Financial Partners Inc. (FOCS), upgrading the stock to Equal-Weight and assigning a $53 price target, representing potential upside of 5.66% from Tuesday's close.

U.S. Bancorp (USB) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $57, suggesting 16.02% additional upside for the stock.

Ecolab Inc. (ECL) received an upgrade from analysts at RBC Capital, who also set their one-year price target on the stock to $185. They changed their rating on ECL to Outperform from Sector Perform in a recently issued research note.

Earlier Wednesday Jefferies reduced its rating on American Eagle Outfitters Inc. (AEO) stock to Hold from Buy and assigned the price target to $16.

Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Corcept Therapeutics Incorporated (CORT) has been changed to Hold from Buy and the new price target is set at $22.

Analysts at Piper Sandler downgraded Comerica Incorporated (CMA)'s stock to Neutral from Overweight Wednesday.

The Top 5 NASDAQ Stocks to Own for New Year 2023

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Latest Insider Activity

AMC Entertainment Holdings Inc. (AMC) 10% Owner Antara Capital LP announced the sale of shares taking place on Feb 14 at $4.56 for some 287,789 shares. The total came to more than $1.31 million.

AMC Entertainment Holdings Inc. (APE) 10% Owner Antara Capital LP sold on Feb 14 a total 287,789 shares at $4.56 on average. The insider’s sale generated proceeds of almost $1.31 million.

Corteva Inc. (CTVA) Chief Executive Officer Magro Charles V. declared the purchase of shares taking place on Feb 06 at $60.64 for some 40,000 shares. The transaction amount was around $2.43 million.

Centene Corporation (CNC) EVP, CFO Asher Andrew Lynn bought on Feb 10 a total 3,800 shares at $71.97 on average. The purchase cost the insider an estimated $273,486.

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Important Earnings

Top US earnings releases scheduled for today include Barrick Gold Corporation (NYSE: GOLD). It will announce its Dec 2022 financial results. The company is expected to report earnings of $0.12 per share from revenues of $2.7B in the three-month period.

Analysts expect Roblox Corporation (NYSE: RBLX) to report a net income (adjusted) of -$0.52 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $881.41M.

The Kraft Heinz Company (KHC), due to announce earnings before the market opens today, is expected to report earnings of $0.78 per share from revenues of $7.26B 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.