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- 21 Feb - NH - Morning Newsletter (with survey at top and bottom)
21 Feb - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks to Watch: Market Insights for Early Risers
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Good Morning!Wall Street looks set to open lower on Tuesday as investors worry that interest rates will continue to rise and that geopolitical tensions will worsen. The dollar is making a comeback on its safe-haven appeal. S&P 500 and Nasdaq 100 contract prices fell at least 0.7% each after a holiday weekend. Nasdaq Composite moved up for the sixth straight week last week, while Dow Jones Industrial Average and S&P 500 saw declines.Tuesday brings the January existing home sales data and the manufacturing and services flash purchasing managers' index report from S&P Global.
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Today Top Movers
Faraday Future Intelligent Electric Inc. (FFIE) stock soared 9.44% to $0.6425 in the pre-market trading after announcing that it is targeting a start of production (SOP) date for its flagship FF 91 Futurist of March 30, 2023."
Apellis Pharmaceuticals Inc. (NASDAQ: APLS) shares are trading up 14.02% at $63.27 at the time of writing. The company recently announced that the FDA has approved SYFOVRE™ for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD).
Travere Therapeutics Inc. (TVTX) grew over 10.55% at $19.7 in pre-market trading today after receiving accelerated approval from the FDA for FILSPARI™ to reduce proteinuria in adults with primary IgAN at risk of rapid disease progression.
Vir Biotechnology Inc. (VIR), a Biotechnology company, rose about 10.37% at $28.41 in pre-market trading Tuesday ahead of Q4 and full year 2022 financial results,
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Top Upgrades & Downgrades
Piper Sandler turned bullish on Caleres Inc. (CAL), upgrading the stock to "Overweight" and assigning a $35 price target, representing potential upside of 35% from Friday's close.
Vir Biotechnology Inc. (VIR) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $53, suggesting 105.91% additional upside for the stock.
Norfolk Southern Corporation (NSC) received an upgrade from analysts at Wolfe Research, who also set their one-year price target on the stock to $255. They changed their rating on NSC to Outperform from eer Perform in a recently issued research note.
Earlier Tuesday JP Morgan reduced its rating on AutoNation Inc. (AN) stock to Underweight from Neutral and assigned the price target to $130.
HSBC analysts reduced their investment ratings, saying in research reports covered by the media that its rating for The Mosaic Company (MOS) has been changed to Reduce from Hold and the new price target is set at $43.
Analysts at HSBC downgraded CF Industries Holdings Inc. (CF)'s stock to Hold from Buy Tuesday.
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Latest Insider Activity
QuantumScape Corporation (QS) Chief Legal Officer MCCARTHY MICHAEL O III announced the sale of shares taking place on Feb 17 at $10.31 for some 20,000 shares. The total came to more than $0.21 million.
Bowlero Corp. (BOWL) Chief Executive Officer Shannon Thomas F. sold on Feb 15 a total 230,482 shares at $14.87 on average. The insider’s sale generated proceeds of almost $3.43 million.
Ault Alliance Inc. (AULT) 10% Owner Ault Alliance, Inc. declared the purchase of shares taking place on Feb 15 at $3.96 for some 100 shares. The transaction amount was around $396.0.
PayPal Holdings Inc. (PYPL) President and CEO SCHULMAN DANIEL H bought on Feb 17 a total 26,065 shares at $76.17 on average. The purchase cost the insider an estimated $1.99 million.
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Important Earnings
Top US earnings releases scheduled for today include Elanco Animal Health Incorporated (NYSE: ELAN). It will announce its Dec 2022 financial results. The company is expected to report earnings of $0.13 per share from revenues of $980.94M in the three-month period.
Analysts expect Walmart Inc. (NYSE: WMT) to report a net income (adjusted) of $1.51 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2023 is predicted to come in at $159.76B.
Equitrans Midstream Corporation (ETRN), due to announce earnings before the market opens today, is expected to report earnings of $0.13 per share from revenues of $342.09M 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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