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- 17 Oct - ST - Morning Newsletter (with survey at top and bottom)
17 Oct - ST - Morning Newsletter (with survey at top and bottom)
4 Stocks to Watch in Today's Session 📈
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Good Morning!Traders awaited big earnings reports on Monday as stock futures rose.There was a gain of 277 points, or 0.9%, on the Dow Jones Industrial Average futures. There was an increase of 1.1% in the S&P 500 futures and 1.3% in the Nasdaq 100 futures.S&P 500 just suffered its fourth negative week in five after losing 1.6% last week. As investors readjusted their expectations for the Federal Reserve's upcoming rate hikes due to an inflation reading higher than expected, wild price swings erupted in the markets.Meanwhile, earnings season is in full swing for the third quarter. A stubbornly high inflation rate and the slowdown in the economy are making investors nervous about corporate outlooks.BAC is expected to post earnings before the bell on Monday, while Goldman Sachs will release numbers on Tuesday. Wells Fargo and JPMorgan posted decent earnings recently, but Morgan Stanley had downbeat equity trading revenue.In addition to Netflix, Tesla, and IBM, many other well-known tech giants are also reporting this week. Additionally, investors are keeping a close eye on Johnson & Johnson, United Airlines, AT&T, Verizon, and Procter & Gamble.
Investors Look to Capitalize on the Budding Green Revolution
Lithium is the uncontested fuel of the green energy revolution. One little-known small-cap lithium mining company in a renowned South American location has started attracting interest from opportunity-minded investors.
Today Top Movers
Acorda Therapeutics Inc. (ACOR) stock soared 55.06% to $0.5199 in the pre-market trading after it announced that it had received a favourable arbitration judgement in its dispute with Alkermes PLC over licencing payments for the multiple sclerosis medicine Ampyra.
Milestone Pharmaceuticals Inc. (NASDAQ: MIST) shares are trading up 39.1% at $11.81 at the time of writing. The company released positive topline efficacy and safety data from the Phase 3 RAPID clinical trial of etripamil.
Leafly Holdings Inc. (LFLY) grew over 4.43% at $0.6833 in pre-market trading today after annoucing a partnership deal with Uber Eats to bring cannabis delivery to Torontonians.
Tesla Inc. (TSLA), a Auto Manufacturers company, rose about 2.03% at $209.15 in pre-market trading Monday.
Rare Metal Discovery: Tiny Sub-$0.25 Stock Set to Deliver Gains
Smart investors are blowing away Wall Street's so-called experts on clean energy stocks. And with the green-energy revolution in full-swing, the near-term gains could be absolutely life-changing. The timing is dead-on accurate with this sub-US$0.25 stock securing an ultra-rare clean energy resource on North American soil that China doesn't want us to have.
Top Upgrades & Downgrades
Morgan Stanley turned bullish on The Clorox Company (CLX), upgrading the stock to Equal-Weight and assigning a $130 price target.
Church & Dwight Co. Inc. (CHD) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Underweight to Equal-Weight and moved their price target to $82, suggesting 13.1% additional upside for the stock.
Cloudflare Inc. (NET) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $65. They changed their rating on NET to Overweight from Equal-Weight in a recently issued research note.
Earlier Monday Goldman Sachs reduced its rating on Opendoor Technologies Inc. (OPEN) stock to Sell from Neutral and assigned the price target to $2.
Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Fox Corporation (FOXA) has been changed to Neutral from Outperform and the new price target is set at $36.
Analysts at Deutsche Bank downgraded Westlake Corporation (WLK)'s stock to Hold from Buy Monday.
These 3 Chart Patterns...
Once you're able to recognize and understand these 3 chart patterns… You can then identify high-probability trading opportunities.
Latest Insider Activity
Moderna Inc. (MRNA) Chief Executive Officer Bancel Stephane announced the sale of shares taking place on Oct 13 at $133.25 for some 40,000 shares. The total came to more than $5.33 million.
AdaptHealth Corp. (AHCO) 10% Owner Everest Hill Group Inc. sold on Oct 13 a total 110,602 shares at $22.01 on average. The insider’s sale generated proceeds of almost $2.43 million.
Enviva Inc. (EVA) Director UBBEN JEFFREY W declared the purchase of shares taking place on Oct 14 at $50.64 for some 75,000 shares. The transaction amount was around $3.8 million.
Veris Residential Inc. (VRE) Director KATZ A. AKIVA bought on Oct 14 a total 75,364 shares at $12.12 on average. The purchase cost the insider an estimated $913,178.
Free Report: Top Stocks to Consider Heading Into the 2022 Midterms
With midterm elections around the corner, the only certainty is uncertainty.
And while we can't say which party is the likely winner, we can point you in the direction of several stocks that could blast higher once the smoke clears.
Important Earnings
Top US earnings releases scheduled for today include Bank of America Corporation (NYSE: BAC). It will announce its Sep 2022 financial results. The company is expected to report earnings of $0.77 per share from revenues of $23.57B in the three-month period.
Analysts expect The Charles Schwab Corporation (NYSE: SCHW) to report a net income (adjusted) of $1.05 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2022 is predicted to come in at $5.41B.
Equity LifeStyle Properties Inc. (ELS), due to announce earnings after the market closes today, is expected to report earnings of $0.37 per share from revenues of $321.76M 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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