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2 June - 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 June 1 on US stock exchanges ended with a decline in major indices. The S&P 500 fell 0.75% to 4101, the Nasdaq shed 0.72% and the Dow Jones corrected 0.54%. Most sectors closed trading in the red zone. A noticeable drop was shown by the sectors of finance (-1.61%) and healthcare (-1.44%). Positive dynamics of quotations was shown by energy companies (+1.63%) and telecoms (+0.17%).Company news
Salesforce quarterly results (CRM: +9.88%) were better than analysts' forecasts. While operating savings allowed for an upward revision in full-year profit expectations, the updated guidance fell short of market averages.
HP Inc. (HPQ: +3.86%) beat expectations on quarterly revenue and earnings, but reported lower sales in most segments. However, earnings guidance for the current fiscal year was higher than consensus estimates.
Delta Airlines (DAL: -5.16%) improved its 2Q guidance, reflecting higher demand for air travel and fare indexation, expecting revenue to recover to pre-pandemic levels.
Will Elon Musk Buy a Nevada Lithium Mine?
With lithium prices so high, Elon Musk recently panic-tweeted about getting into the mining business to maintain his own Tesla battery metal supply. This lines up with the recent enactment of the Defense Production Act in March 2022 to ensure the strategic metals that are critical to the US and free world independence from China and Russia are produced in the US.
Today Top Movers
Chewy Inc. (CHWY) stock soared 17.2% to $27.53 in the pre-market trading after declaring first quarter 2022 financial results.
UiPath Inc. (NYSE: PATH) shares are trading up 11.11% at $18.7 at the time of writing. The company reported revenue of $245.1 million in Q1, increased 32 percent year-over-year.
Repare Therapeutics Inc. (RPTX) grew over 17.14% at $10.25 in pre-market trading today after announcing a worldwide license and collaboration agreement with Roche for Camonsertib.
Blue Apron Holdings Inc. (APRN), an internet retail company, rose about 11.07% at $3.41 in pre-market trading Thursday. The company unlocks access to new customers with Meal Kits on Walmart.com.
Goldman Sachs Alum Sounds Alarm on "Next US Crisis"
Few believed Nomi Prins when she called the 2008 meltdown well in advance. Now, she's issuing a new prediction. Most Americans aren't yet prepared.
Top Upgrades & Downgrades
B of A Securities turned bullish on Agree Realty Corporation (ADC), upgrading the stock to "Buy" and assigning a $78.00 price target, representing potential upside of 11.33% from Wednesday's close.
Americold Realty Trust (COLD) has won the favor of B of A Securities's equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $30.00, suggesting 8.58% additional upside for the stock.
Ecolab Inc. (ECL) received an upgrade from analysts at UBS, who also set their one-year price target on the stock to $205.00. They changed their rating on ECL to Buy from Neutral in a recently issued research note.
Earlier Thursday UBS reduced its rating on Albemarle Corporation (ALB) stock to Neutral from Buy and assigned the price target to $260.00.
Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Snap Inc. (SNAP) has been changed to Neutral from Overweight and the new price target is set at $18.00.
Analysts at Piper Sandler downgraded Pinterest Inc. (PINS)'s stock to Neutral from Overweight Thursday.
America's Lithium Mecca?
Lithium is a precious commodity when it comes to our shift to renewable energy. Developing more domestic sources of the metal has been called a matter of national security, since China hogs 80% of the world's lithium. The U.S. Geological Survey calls one Nevada region the best-known lithium deposit in the world.
Latest Insider Activity
NVIDIA Corporation (NVDA) Director Dabiri John announced the sale of shares taking place on May 27 at $185.59 for some 2,200 shares. The total came to more than $0.41 million.
Salesforce Inc. (CRM) Chairman and Co-CEO Benioff Marc sold on May 31 a total 2,300 shares at $162.85 on average. The insider’s sale generated proceeds of almost $0.37 million.
SoFi Technologies Inc. (SOFI) Chief Executive Officer Noto Anthony declared the purchase of shares taking place on Jun 01 at $7.07 for some 21,215 shares. The transaction amount was around $0.15 million.
Avadel Pharmaceuticals plc (AVDL) Director Ende Eric J bought on Jun 01 a total 20,000 shares at $2.27 on average. The purchase cost the insider an estimated $45,496.
Hidden Income 'hack'
This hidden income strategy was just leaked and it can be yours now. It goes in depth about how you can start off with a small account and turn that into your own weekly paycheck. Learn how you can GAIN that extra advantage over what others aren't doing.
Important Earnings
Top US earnings releases scheduled for today include Designer Brands Inc. (NYSE:DBI). It will announce its Apr 2022 financial results. The company is expected to report earnings of $0.24 per share from revenues of $815.33M in the three-month period.
Analysts expect Hormel Foods Corporation (NYSE: HRL) to report a net income (adjusted) of $0.47 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2022 is predicted to come in at $3.07B.
Ciena Corporation (CIEN), due to announce earnings before the market opens today, is expected to report earnings of $0.54 per share from revenues of $950.83M 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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