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- 19 Dec - NH - Morning Newsletter (with survey at top and bottom) (copy 02)
19 Dec - NH - Morning Newsletter (with survey at top and bottom) (copy 02)
4 "Power Pick" Stocks for Today's Session
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Good Morning!Futures for US stock indices on Wednesday add significantly in anticipation of confirmation of data on quarterly growth of US GDP by almost 3%, according to trading data.Futures for the Dow Jones Industrial Index (DJIA) are growing by 0.75%, to 33300 points, futures for the NASDAQ high-tech companies index - by 0.59%, to 11241.25 points, and for the S&P broad market index 500 - by 0.63%, up to 3873.5 points.Thursday is expected to publish the third, final assessment of the dynamics of the country's GDP for the third quarter. Experts believe that the growth estimate will be kept at the level of 2.9% on an annualized basis (if GDP grew at the same rate for four consecutive quarters).In addition, investors are waiting for data from the analytical company Conference Board on consumer confidence in the US economy. According to experts, the indicator rose to 101 points from 100.2 points in November.
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Today Top Movers
Venus Concept Inc. (VERO), a Medical Devices company, rose about 50.51% at $0.37 in pre-market trading Wednesday after receiving a 510(k) clearance from the U.S. Food and Drug Administration (“FDA”) to market its AI.ME next generation robotic technology for fractional skin resurfacing.
Acutus Medical Inc. (AFIB) stock soared 7.05% to $0.91 in the pre-market trading following the achievement of EU MDR submission milestone in sale of Left-Heart Access Portfolio to Medtronic.
NIKE Inc. (NYSE: NKE) shares are trading up 12.29% at $115.89 at the time of writing after reporting fiscal 2023 second quarter results.
ADC Therapeutics SA (ADCT) grew over 23.58% at $3.93 in pre-market trading today after declaring the European Commission (EC) has granted conditional marketing authorization for the use of ZYNLONTA®.
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Top Upgrades & Downgrades
New Street Research turned bullish on PagSeguro Digital Ltd. (PAGS), upgrading the stock to Buy and assigning a $15 price target, representing potential upside of 115.6% from Tuesday's close.
Zions Bancorporation National Association (ZION) has won the favor of DA Davidson's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $56, suggesting 21.4% additional upside for the stock.
Comerica Incorporated (CMA) received an upgrade from analysts at DA Davidson, who also set their one-year price target on the stock to $80. They changed their rating on CMA to Buy from Neutral in a recently issued research note.
Earlier Wednesday Wolfe Research reduced its rating on Palantir Technologies Inc. (PLTR) stock to Peer Perform from Underperform and assigned the price target to $4.5.
Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Starbucks Corporation (SBUX) has been changed to Hold from Buy and the new price target is set at $100.
Analysts at Morgan Stanley downgraded Ionis Pharmaceuticals Inc. (IONS)'s stock to Equal-Weight from Overweight Wednesday.
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Latest Insider Activity
Avaya Holdings Corp. (AVYA) 10% Owner King Theodore Walker Cheng-De announced the sale of shares taking place on Dec 16 at $0.19 for some 4,762,918 shares. The total came to more than $0.9 million.
Amazon.com Inc. (AMZN) 10% Owner AMAZON COM INC sold on Dec 16 a total 260,000 shares at $26.99 on average. The insider’s sale generated proceeds of almost $7.02 million.
Enterprise Products Partners L.P. (EPD) Co-Chief Executive Officer TEAGUE AJ declared the purchase of shares taking place on Dec 20 at $23.60 for some 21,150 shares. The transaction amount was around $0.5 million.
Luminar Technologies Inc. (LAZR) Director AEG Holdings, LLC bought on Dec 16 a total 7,953 shares at $6.65 on average. The purchase cost the insider an estimated $52,910.
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Important Earnings
Top US earnings releases scheduled for today include Carnival Corporation & plc (NYSE: CCL). It will announce its Nov 2022 financial results. The company is expected to report earnings of -$0.87 per share from revenues of $3.91B in the three-month period.
Analysts expect Rite Aid Corporation (NYSE: RAD) to report a net income (adjusted) of -$0.31 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Nov 2022 is predicted to come in at $5.94B.
The Toro Company (TTC), due to announce earnings before the market opens today, is expected to report earnings of $1.09 per share from revenues of $1.18B 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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