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- 15 Oct - Morning Newsletter (with changes)
15 Oct - Morning Newsletter (with changes)
Morning Brief: Stocks to Trade Today
Good Morning!
The stock exchanges in New York have had an excellent day. In fact, the major indices on Wall Street had their best day since March. The S&P 500 rose 1.71% to 4,438 points and the Nasdaq Composite index rose 1.73% to a position of 14,823 points. Investors seemed to ignore the concerns about inflation and rising energy prices for a while.The sharp dip in the US 10-year yield (to 1.51%) helped technology funds in particular. Investors thus reacted to a rise in producer prices in September by 'only' 0.5%. Analysts had expected a 0.6% increase on a month-over-month basis. Big Tech names like Microsoft, Apple and Alphabet all rose by at least 2%.Better-than-expected third-quarter results from major US banks also contributed to positive sentiment. Bank of America rose 4.5% and Morgan Stanley (+2.5%) and Citigroup also did good business (+0.8%). Of the 8 companies in the S&P 500 that released their results yesterday, they all exceeded expectations in earnings per share. America's largest drugstore chain, Walgreens Boots Alliance, stole the show with a 7.4% increase after the release of its figures.
Why Nevada Is About To Become The Richest State In The USA (And Make Some Investors VERY Happy)...Geologists predict that Nevada could hold 25% of the world's lithium supply. And with lithium quickly becoming the most valuable (and important) metal on the planet, Nevada could quickly become one of the richest states in the USA...
Today Top Movers
Air Industries Group (AIRI) stock soared 11.54% to $1.16 in the pre-market trading after announcing a new $5.2 million, long-term agreement for the CH-53K Heavy Lift Helicopter.
Alcoa Corporation (NYSE: AA) shares are trading up 6.79% at $51.9 at the time of writing after reporting a record quarterly net income of $337 million and earnings per share of $1.76 in Q3 2021.
LM Funding America Inc. (LMFA) grew over 46.8% at $5.05 in pre-market trading today. Traders are optimistic about the chances of the U.S. Securities and Exchange Commission giving the green light to the first Bitcoin futures exchange-traded fund, according to analysts.
Walgreens Boots Alliance Inc. (WBA), a Pharmaceutical Retailers company, rose about 0.2% at $50.87 in pre-market trading Friday after the company made a majority investment in CareCentrix.
The Next Tesla?Could THIS be the next TESLA?This private Silicon Valley startup is backed by early investors of Google, Paypal, Uber, and more.It's set to solve a worldwide problem that could help save millions of lives per year...And it could make you up to 10x your money in the coming months.
Top Upgrades & Downgrades
UBS turned bullish on Flowserve Corporation (FLS), upgrading the stock to "Buy" and assigning a $46.00 price target, representing potential upside of 29.29% from Thursday's close.
Broadcom Inc. (AVGO) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy.
Allegheny Technologies Incorporated (ATI) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $23.00. They changed their rating on ATI to Overweight from Neutral in a recently issued research note.
Earlier Friday JP Morgan reduced its rating on Duck Creek Technologies Inc. (DCT) stock to Neutral from Overweight and assigned the price target to $50.00.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Western Digital Corporation (WDC) has been changed to Neutral from Buy and the new price target is set at $0.00.
Analysts at Barclays downgraded Telefonica S.A. (TEF)'s stock to Underweight from Equal-Weight Thursday.
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Latest Insider Activity
Palantir Technologies Inc. (PLTR) Karp Alexander C. announced the sale of shares taking place on Oct 14 at $24.46 for some 638,629 shares. The total came to more than $15.62 million.
NVIDIA Corporation (NVDA) Director BURGESS ROBERT K sold on Oct 13 a total 28,140 shares at $208.68 on average. The insider’s sale generated proceeds of almost $2.09 million.
ImmunityBio Inc. (IBRX) CEO & President Adcock Richard declared the purchase of shares taking place on Oct 08 at $8.81 for some 1,930 shares. The transaction amount was around $16995.0.
Independence Contract Drilling Inc. (ICD) 10% Owner MONROE WILLIAM bought on Oct 08 a total 1,400,000 shares at $3.69 on average. The purchase cost the insider an estimated $110,800.
Mandated to make a profitLike any other investor, I try to buy low and sell high... but the BIG difference with me is that I like to buy just one kind of stock and none other. These unique companies are almost always monopolies. And are mandated by law to make a profit. Not a single company in this entire industry has ever gone out of business-ever. And one last thing: the dividend yields are massive.Full story inside.
Important Earnings
Top US earnings releases scheduled for today include The Charles Schwab Corporation (NYSE:SCHW). It will announce its Sep 2021 financial results. The company is expected to report earnings of $0.81 per share from revenues of $4.52B in the three-month period.
Analysts expect The Goldman Sachs Group Inc. (NYSE:GS) to report a net income (adjusted) of $10.11 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2021 is predicted to come in at $11.67B.
Prologis Inc. (PLD), due to announce earnings before the market opens today, is expected to report earnings of $0.52 per share from revenues of $1.03B 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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