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- 17 June - NH - Morning Newsletter (with survey at top and bottom)
17 June - NH - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Trade Before the Weekend
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Good Morning!
The session on June 16, the main US stock markets ended in the red zone. The S&P 500 fell 3.25% to close at 3,667. The Nasdaq and Dow Jones fell 4.08% and 2.42%, respectively. All 11 S&P 500 sectors closed in negative territory. Worse than the rest looked energy companies (-5.58%) and manufacturers of cyclical consumer goods (-4.76%).Company news
AMC shareholders (AMC: -7.67%) rejected the proposed executive pay plan.
Boeing (BA: -0.27%) plans to resume deliveries of 787 Dreamliner aircraft, which have been suspended since the end of 2020.
Tesla investor (TSLA: -8.54%) is suing Elon Musk and other company executives for neglecting complaints of discrimination and harassment in the workplace and for creating a "toxic corporate culture."
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Today Top Movers
Mereo BioPharma Group plc (MREO) stock soared 16.25% to $0.93 in the pre-market trading. AstraZeneca is considering a bid for London-based, U.S.-listed biotech Mereo BioPharma.
ObsEva SA (NASDAQ: OBSV) shares are trading up 12.02% at $2.05 at the time of writing after announcing that the European Commission has granted marketing authorization for Yselty® (linzagolix).
Imperial Petroleum Inc. (IMPP) grew over 5.43% at $0.5746 in pre-market trading today. The company announced a dividend of approximately $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on June 30, 2022, to holders of record as of June 27, 2022.
NIO Inc. (NIO), a Auto Manufacturers company, rose about 5.32% at $20.2 in pre-market trading Friday. On June 15, 2022, NIO held the Product Launch Event online. The ES7, a smart electric mid-large SUV, was unveiled.
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
Baird turned bullish on M&T Bank Corporation (MTB), upgrading the stock to "Outperform" and assigning a $200 price target, representing potential upside of 24.38% from Thursday's close.
Fifth Third Bancorp (FITB) has won the favor of Baird's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $44, suggesting 32.33% additional upside for the stock.
Capital One Financial Corporation (COF) received an upgrade from analysts at Baird, who also set their one-year price target on the stock to $145. They changed their rating on COF to Outperform from Neutral in a recently issued research note.
Earlier Friday B. Riley Securities reduced its rating on Urban Outfitters Inc. (URBN) stock to Neutral from Buy and assigned the price target to $23.
B. Riley Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for American Eagle Outfitters Inc. (AEO) has been changed to Neutral from Buy and the new price target is set at $13.00.
Analysts at Wells Fargo downgraded M.D.C. Holdings Inc. (MDC)'s stock to Underweight from Equal-Weight Friday.
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Latest Insider Activity
Meta Platforms Inc. (FB) Chief Legal Officer Newstead Jennifer announced the sale of shares taking place on Jun 14 at $165.89 for some 342 shares. The total came to more than $56734.0.
Twitter Inc. (TWTR) Chief Financial Officer SEGAL NED D. sold on Jun 14 a total 5,000 shares at $38.00 on average. The insider’s sale generated proceeds of almost $190,000.
Microvast Holdings Inc. (MVST) Chief Operating Officer Smith Shane declared the purchase of shares taking place on Jun 14 at $2.50 for some 250,000 shares. The transaction amount was around $0.62 million.
Park Hotels & Resorts Inc. (PK) Director ECKERT THOMAS D bought on Jun 14 a total 10,000 shares at $15.12 on average. The purchase cost the insider an estimated $151,250.
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Important Earnings
Top US earnings releases scheduled for next week include Lennar Corporation (NYSE:LEN). It will announce its May 2022 financial results. The company is expected to report earnings of $3.98 per share from revenues of $8.11B in the three-month period.
Analysts expect La-Z-Boy Incorporated (NYSE: LZB) to report a net income (adjusted) of $0.92 per share when the company releases its quarterly results Tuesday. Revenue for the fiscal quarter ended Apr 2022 is predicted to come in at $664.91M.
FedEx Corporation (FDX), due to announce earnings after the market closes Thursday, is expected to report earnings of $6.88 per share from revenues of $24.47B 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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