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- 17 Aug - ST - Morning Newsletter (with survey at top and bottom)
17 Aug - ST - Morning Newsletter (with survey at top and bottom)
4 Value Stocks Taking Off This Morning
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Good Morning!
Wednesday's stock futures declined as a rally that has boosted equity prices since June was set to pause.There was a 0.4% decline in Dow Jones Industrial Average futures. A 0.5% decline in S&P 500 futures was followed by a 0.7% decline in Nasdaq 100 futures.Tuesday marked the Dow's fifth straight day of gains. S&P 500 futures are on track for their fifth positive week in a row as investors continue to assess the strength of this rally. Since June's low, the broad market index is up 18%.A big earnings miss was reported by Target, as the retailer attempts to sell off excess inventory.Home improvement retailer Lowe's shares spiked more than 3% in the premarket after it surprised analysts with its quarterly profit.
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Today Top Movers
Hill International Inc. (HIL) stock soared 60.92% to $2.8 in the pre-market trading after announcing strategic merger agreement with Global Infrastructure Solutions Inc. (GISI).
Otonomo Technologies Ltd. (NASDAQ: OTMO) shares are trading up 8.29% at $0.7757 at the time of writing following an announcement from the company that Geograma has awarded Otonomo a multi-year contract to provide multi-layered connected vehicle data designed to advance road safety in Spain.
Cassava Sciences Inc. (SAVA) grew over 16.33% at $23.51 in pre-market trading today after reporting second-quarter financial results for 2022.
Endo International plc (ENDP), a Drug Manufacturers - Specialty & Generic company, rose about 25.92% at $0.4659 in pre-market trading Wednesday. The company filed for chapter 11 protection Tuesday in the U.S. Bankruptcy Court in New York.
Top 5 Stocks with Strong Insider Buying
One of the best ways to spot potential opportunity is by tracking insiders.
After all, who knows the company better than an insider - the CEO, CFO, COO, officers, employees, and directors? If they're buying a sizable number of shares, it's often a good idea to start looking into why and perhaps follow them into the stock. Here are five stocks seeing a good share of insider buying in recent weeks.
Top Upgrades & Downgrades
Credit Suisse turned bullish on Apple Inc. (AAPL), upgrading the stock to "Outperform" and assigning a $201.00 price target, representing potential upside of 16.16% from Tuesday's close.
Westlake Corporation (WLK) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $135.00, suggesting 27.01% additional upside for the stock.
The J. M. Smucker Company (SJM) received an upgrade from analysts at BofA. They changed their rating on SJM to Buy from Neutral in a recently issued research note.
Earlier Wednesday Citigroup reduced its rating on Weber Inc. (WEBR) stock to Sell from Neutral and assigned the price target to $2.75.
UBS analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Singular Genomics Systems Inc. (OMIC) has been changed to Neutral from Buy and the new price target is set at $4.50.
Analysts at Wedbush downgraded fuboTV Inc. (FUBO)'s stock to Neutral from Outperform Wednesday.
While finding excellent stocks with the potential for gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Tech Stocks Every Investor Should Buy Right Now", we have identified five tech stocks we believe could appreciate.
Latest Insider Activity
EVgo Inc. (EVGO) Chief Commercial Officer Levy Jonathan Maier announced the sale of shares taking place on Aug 16 at $12.04 for some 10,000 shares. The total came to more than $0.12 million.
UiPath Inc. (PATH) Chief Accounting Officer Ramani Hitesh sold on Aug 15 a total 22,800 shares at $20.70 on average. The insider’s sale generated proceeds of almost $471,905.
Terns Pharmaceuticals Inc. (TERN) 10% Owner Vivo Opportunity, LLC declared the purchase of shares taking place on Aug 16 at $2.42 for some 1,500,000 shares. The transaction amount was around $3.63 million.
TMC the metals company Inc. (TMC) Director Karkar Andrei bought on Aug 12 a total 6,250,000 shares at $0.80 on average. The purchase cost the insider an estimated $5.0 million.
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Important Earnings
Top US earnings releases scheduled for today include Target Corporation (NYSE: TGT). It will announce its Jul 2022 financial results. The company is expected to report earnings of $0.71 per share from revenues of $26.04B in the three-month period.
Analysts expect Analog Devices Inc. (NASDAQ:ADI) to report a net income (adjusted) of $2.43 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2022 is predicted to come in at $3.06B.
Krispy Kreme Inc. (DNUT), due to announce earnings before the market opens today, is expected to report earnings of $0.09 per share from revenues of $385.32M 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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