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17 May - ST - Morning Newsletter (with survey at top and bottom)
4 Best Stocks to Watch Right Now
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Good Morning!
The trading session on May 16, the main US stock indexes ended mostly in the red zone. The S&P 500 fell 0.39% to 4008 points, the Nasdaq fell 1.2%, while the Dow Jones added 0.08%. The energy sector demonstrated the best dynamics (+2.62%). Manufacturers of cyclical consumer goods (-2.12%) looked worse than the market.Company news
JetBlue (JBLU: -6.1%) made an offer to buy Spirit Airlines (SAVE: +13.5%) at $30 per share. The company clarified that it is ready for the acquisition at a price of $33, subject to the necessary measures being taken.
Twitter's legal team (TWTR: -8.2%) said Elon Musk violated a non-disclosure agreement by disclosing the sample size for spam tests and bot accounts. This comes after a deal to acquire the social network was put on hold pending the results of testing for fake accounts.
Rivian Automotive (RIVN: -6.9%) filed a lawsuit on May 16 against Commercial Vehicle Group (CVGI: -2.4%) due to higher seat prices
Soldiers Carry 20 Pounds of Lithium Batteries?
U.S. soldiers may carry up to 20 pounds of lithium batteries! In fact, nearly every American weapon defense system requires lithium batteries. With China dominating our lithium supply, access to battery metals has become a national security issue. That's just one reason why the domestic lithium industry is BOOMING.
Today Top Movers
NextPlat Corp (NXPL) stock soared 15.66% to $1.92 in the pre-market trading. NXPL reported 144% increase in Q1 2022 revenue as e-commerce demand surged; Cash balances increased to approximately $22M or $2.36 per share.
Take-Two Interactive Software Inc. (NASDAQ: TTWO) shares are trading up 7.17% at $118.0 at the time of writing after releasing strong results for the fourth quarter and its fiscal year 2022, ended March 31, 2022.
Redwire Corporation (RDW) grew over 0.27% at $3.77 in pre-market trading today. The company recently declared that it will be hosting a ribbon-cutting at its facility in Luxembourg City, Luxembourg, on May 19.
Greenlane Holdings Inc. (GNLN), a Pharmaceutical Retailers company, rose about 10.7% at $0.4096 in pre-market trading Tuesday. The company reported that its total revenue for Q1 2022 increased 37% to $46.5 million, compared to $34.0 million for Q1 2021.
Four Trades to Watch
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Check out today's deep dive into Four Trades to Watch to see the tricks and tips you may not know about.
Top Upgrades & Downgrades
BofA turned bullish on Waters Corporation (WAT), upgrading the stock to Neutral and assigning a $330.00 price target, representing potential upside of 2.82% from Monday's close.
PBF Energy Inc. (PBF) has won the favor of JPMorgan's equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $34.00, suggesting 9.50% additional upside for the stock.
Teva Pharmaceutical Industries Limited (TEVA) received an upgrade from analysts at BofA, who also set their one-year price target on the stock to $9.00. They changed their rating on TEVA to Neutral from Underperform in a recently issued research note.
Earlier Tuesday Stifel reduced its rating on Upwork Inc. (UPWK) stock to Hold from Buy and assigned the price target to $20.00.
Telsey Advisory Group analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Enjoy Technology Inc. (ENJY) has been changed to Underperform from Market Perform and the new price target is set at $0.25.
Analysts at BofA downgraded Maxar Technologies Inc. (MAXR)'s stock to Underperform from Neutral Tuesday.
5 Megatrend Stocks for 2022
These 5 stocks offer the potential to deliver significant returns in the months ahead thanks to key megatrends... They are well-positioned to deliver a high upside to investors over the next 12 to 18 months. Don't miss out on your chance to get in early.
Latest Insider Activity
APA Corporation (APA) Exec. Vice Pres & Gen Counsel LANNIE P ANTHONY announced the sale of shares taking place on May 16 at $41.26 for some 86,750 shares. The total came to more than $3.58 million.
S&P Global Inc. (SPGI) EVP, Chief Purpose Officer Manis Dimitra sold on May 16 a total 2,000 shares at $336.53 on average. The insider’s sale generated proceeds of almost $0.67 million.
Corbus Pharmaceuticals Holdings Inc. (CRBP) Chief Financial Officer Moran Sean F. declared the purchase of shares taking place on May 16 at $0.30 for some 12,000 shares. The transaction amount was around $3600.0.
Porch Group Inc. (PRCH) Director Kell Sean Davis bought on May 16 a total 10,820 shares at $4.62 on average. The purchase cost the insider an estimated $49,988.
Last Century's Oil Boom Repeats Today With Lithium?
The budding lithium industry looks similar to early days of the oil boom. In fact, lithium has been called the "new oil." As internal combustion engines give way to lithium-filled electric vehicle batteries, demand for the metal is skyrocketing. The U.S. is desperate for more domestic sources of lithium, and geologists are pointing to Nevada.
Important Earnings
Top US earnings releases scheduled for today include Sea Limited (NYSE:SE). It will announce its Mar 2022 financial results. The company is expected to report earnings of -$1.17 per share from revenues of $2.8B in the three-month period.
Analysts expect JD.com Inc. (NASDAQ:JD) to report a net income (adjusted) of $0.24 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2022 is predicted to come in at $34.82B.
Walmart Inc. (WMT), due to announce earnings before the market opens today, is expected to report earnings of $1.48 per share from revenues of $138.88B 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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