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- 18 Oct - ST - Morning Newsletter (with survey at top and bottom)
18 Oct - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks You Should Watch Today
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Good Morning!In response to the Nasdaq Composite's best daily performance since July, futures rose Tuesday morning.There was a gain of 432 points or 1.43% in Dow Jones Industrial Average futures. Futures for the S&P 500 jumped 1.65% and those for the Nasdaq 100 rose 1.85%.Wall Street enjoyed a winning day on Monday. After a volatile week, the Dow Jones Industrial Average gained about 550 points. A 2.65% rise was also posted by the S&P 500 for the day. As Amazon, Meta Platforms, and Microsoft drove the rebound in technology stocks, the Nasdaq jumped 3.43%. Tech-heavy index enjoyed its best day since July 27.Stocks rose on strong earnings reports. Bank of America topped expectations by jumping 6.06%, and Bank of New York Mellon was also up after earnings beat.We are on the verge of more big bank earnings. A report on Goldman Sachs' quarterly results will be released on Tuesday morning. There will also be results announced that day by Johnson & Johnson, Netflix, and United Airlines. American Airlines, Tesla, and IBM will all release earnings later this week.
What the Penny?!
Low-priced, or "penny," stocks offer a great way to jump into the market regardless of the direction of the markets as a whole. And these six stocks are in an excellent position to deliver potential breakthroughs in the months ahead.
Today Top Movers
AVEO Pharmaceuticals Inc. (AVEO) stock soared 38.07% to $14.47 in the pre-market trading after the company agreed to be acquired by South Korea's LG Chem Ltd. for about $566 million.
Ra Medical Systems Inc. (AMEX: RMED) shares are trading up 36.33% at $7.43 at the time of writing after announcing the completion of its at-the-market (ATM) facility, raising gross proceeds of $7.6 million.
Akouos Inc. (AKUS) surged over 84.59% at $12.94 in pre-market trading today following the declaration of a definitive agreement for Lilly to acquire Akouos.
fuboTV Inc. (FUBO), a Broadcasting company, rose about 9.38% at $4.43 in pre-market trading Tuesday. The company released preliminary Q3 2022 results, expected to exceed prior guidance in North America.
Lithium Triangle a "Treasure Trove" for the Popular Energy Metal
Lithium is the most precious commodity of the green revolution, and experts predict an exploding demand for the energy metal. Surrounded by multi-billion dollar assets, one little-known small-cap company in a renowned location in South America may become a strong link in the lithium supply chain due to a monster acquisition.
Top Upgrades & Downgrades
RBC Capital turned bullish on PotlatchDeltic Corporation (PCH), upgrading the stock to Outperform and assigning a $55 price target, representing potential upside of 29.02% from Monday's close.
Xylem Inc. (XYL) has won the favor of Cowen & Co.'s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $105, suggesting 15.93% additional upside for the stock.
Jamf Holding Corp. (JAMF) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $28. They changed their rating on JAMF to Overweight from Equal-Weight in a recently issued research note.
Earlier Tuesday Barclays reduced its rating on UiPath Inc. (PATH) stock to Equal-Weight from Overweight and assigned the price target to $15.
B of A Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Amcor plc (AMCR) has been changed to Equal-Weight from Overweight and the new price target is set at $9.
Analysts at JP Morgan downgraded Syneos Health Inc. (SYNH)'s stock to Neutral from Overweight Tuesday.
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.
Latest Insider Activity
Brookfield Asset Management Inc. (BAM) 10% Owner OAKTREE CAPITAL MANAGEMENT LP announced the sale of shares taking place on Oct 13 at $8.50 for some 2,825,000 shares. The total came to more than $24.01 million.
Nikola Corporation (NKLA) Chief Executive Officer RUSSELL MARK A sold on Oct 14 a total 75,000 shares at $2.99 on average. The insider’s sale generated proceeds of almost $224,390.
OPKO Health Inc. (OPK) CEO & Chairman FROST PHILLIP MD ET AL declared the purchase of shares taking place on Oct 14 at $1.72 for some 100,000 shares. The transaction amount was around $0.17 million.
Helbiz Inc. (HLBZ) Chief Executive Officer Palella Salvatore bought on Oct 13 a total 200,000 shares at $0.25 on average. The purchase cost the insider an estimated $50,000.
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.
Important Earnings
Top US earnings releases scheduled for today include Albertsons Companies Inc. (NYSE: ACI). It will announce its Aug 2022 financial results. The company is expected to report earnings of $0.65 per share from revenues of $17.72B in the three-month period.
Analysts expect Johnson & Johnson (NYSE: JNJ) to report a net income (adjusted) of $2.48 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2022 is predicted to come in at $23.34B.
State Street Corporation (STT), due to announce earnings before the market opens today, is expected to report earnings of $1.78 per share from revenues of $2.97B 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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