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- 16 Dec - NH - Morning Newsletter (with survey at top and bottom)
16 Dec - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks You Should Watch Before Weekend
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Good Morning!Friday's stock futures fell after data raised concerns about a recession and as investors looked anxiously towards Federal Reserve speakers later in the day.There was a loss of 112 points, or 0.34%, in Dow Jones Industrial Average futures. Futures on the S&P 500 and Nasdaq-100 fell 0.27% and 0.32%, respectively.The Dow fell 764.13 points, or 2.25%, on Thursday, continuing its downward trend from Wednesday. In contrast, the S&P 500 fell by 2.49 percent, while the Nasdaq Composite fell by 3.23%.It appears inflation is affecting consumers more than expected based on Thursday's disappointing retail sales report. The weakening economy is causing investors to worry that consumer spending is slowing.This latest decline means that the market will end the week with a second consecutive loss across the board.
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Today Top Movers
Maxar Technologies Inc. (MAXR) stock surged 114.07% to $49.45 in the pre-market trading on news of takeover by Advent.
Exact Sciences Corporation (NASDAQ: EXAS) shares are trading up 17.87% at $52.58 at the time of writing after competitor Guardant Health reported results from a study of its colorectal cancer detection blood test.
Ocugen Inc. (OCGN) grew over 17.93% at $1.71 in pre-market trading today after announcing phase 3 confirmatory clinical trial agreement for NeoCart®.
Imperial Petroleum Inc. (IMPP), a Oil & Gas E&P company, rose about 9.94% at $0.314 in pre-market trading Friday.The company granted 180-day extension by Nasdaq to regain compliance with minimum bid price rule.
The Top 5 NASDAQ Stocks to Own for New Year 2023
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Top Upgrades & Downgrades
JP Morgan turned bullish on Meta Platforms Inc. (META), upgrading the stock to "Overweight" and assigning a $150 price target, representing potential upside of 29.14% from Thursday's close.
Brixmor Property Group Inc. (BRX) has won the favor of Wolfe Research's equity research team. The firm upgraded the shares from Peer Perform to Outperform and moved their price target to $29, suggesting 28.8% additional upside for the stock.
Universal Health Services Inc. (UHS) received an upgrade from analysts at BofA, who also set their one-year price target on the stock to $145. They changed their rating on UHS to Neutral from Underperform in a recently issued research note.
Earlier Friday Jefferies reduced its rating on Lincoln National Corporation (LNC) stock to Underperform from Hold and assigned the price target to $25.
Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Third Harmonic Bio Inc. (THRD) has been changed to Hold from Buy and the new price target is set at $3.60.
Analysts at RBC Capital downgraded Mercury Systems Inc. (MRCY)'s stock to Sector Perform from Outperform Friday.
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Latest Insider Activity
Boston Scientific Corporation (BSX) EVP, Human Resources Carruthers Wendy announced the sale of shares taking place on Dec 15 at $46.62 for some 7,500 shares. The total came to more than $0.35 million.
Johnson & Johnson (JNJ) Exec VP, CFO Wolk Joseph J sold on Dec 13 a total 14,781 shares at $179.60 on average. The insider’s sale generated proceeds of almost $2.65 million.
V.F. Corporation (VFC) Interim President and CEO Dorer Benno O declared the purchase of shares taking place on Dec 13 at $28.50 for some 10,000 shares. The transaction amount was around $0.28 million.
Luminar Technologies Inc. (LAZR) Director Heng Jun Hong bought on Dec 13 a total 9,020 shares at $7.44 on average. The purchase cost the insider an estimated $67,109.
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Important Earnings
Top US earnings releases scheduled for today include Accenture plc (NYSE: ACN). It will announce its Nov 2022 financial results. The company is expected to report earnings of $2.91 per share from revenues of $15.58B in the three-month period.
Analysts expect Darden Restaurants Inc. (NYSE: DRI) to report a net income (adjusted) of $1.43 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Nov 2022 is predicted to come in at $2.43B.
Winnebago Industries Inc. (WGO), due to announce earnings before the market opens today, is expected to report earnings of $1.78 per share from revenues of $857.31M 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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