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21 July - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Trade Today
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Good Morning!
Trading on July 20 on US stock exchanges ended in positive territory. The S&P 500 rose 0.59% to 3960, the Nasdaq rose 1.58% and the Dow Jones gained 0.15%. Growth leaders were manufacturers of cyclical consumer goods (+1.76%) and technology companies (+1.56%). The health care (-1.06%) and utilities (-1.36%) industries looked worse than the market.Company news
Netflix (NFLX: +7.35%) reported second-quarter earnings above consensus. The streaming service's subscriber base dropped by 970,000 from an expected 2 million drop. Management plans to test launch an ad-supported platform early next year.
Nasdaq Inc. (NDAQ: +6.10%) beat expectations on quarterly revenue and earnings, posting organic revenue growth across all business segments. On August 29, the company will perform a 3:1 stock split.
Baker Hughes (BKR: -8.26%) experienced an increase in its net loss in the second quarter due to the negative impact of the exit from operations in Russia and inflationary pressures.
Forbes mag says this strategy "like finding money in the street"
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Today Top Movers
Addex Therapeutics Ltd (ADXN) stock soared 40.63% to $1.29 in pre-market trading after announcing the reduction of the nominal value of its issued, authorized, and conditional share capital from CHF 1.00 to CHF 0.01.
Super Micro Computer Inc. (NASDAQ: SMCI) shares are trading up 19.71% at $54.55 at the time of writing. The company recently declared preliminary financial information for its Q4 of the fiscal year 2022 ended June 30, 2022.
Nokia Oyj (NOK) grew over 6.17% at $4.99 in pre-market trading today after reporting a forecast-beating second-quarter net profit.
Tesla Inc. (TSLA), a Auto Manufacturers company, rose about 3.59% at $769.16 in pre-market trading Thursday. The company sold most of its Bitcoin after Musk said He doesn’t dump.
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Top Upgrades & Downgrades
Loop Capital turned bullish on CSX Corporation (CSX), upgrading the stock to "Buy" and assigning a $38.00 price target, representing potential upside of 27.82% from Wednesday's close.
Las Vegas Sands Corp. (LVS) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved its price target to $45.00, suggesting a 21.42% additional upside for the stock.
IDEXX Laboratories Inc. (IDXX) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $435.00. They changed their rating on IDXX to Buy from Neutral in a recently issued research note.
Earlier Thursday Piper Sandler reduced its rating on DocuSign Inc. (DOCU) stock to Underweight from Neutral and assigned the price target to $54.00.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for PVH Corp. (PVH) has been changed to Neutral from Buy and the new price target is set at $59.00.
Analysts at Raymond James downgraded Invitae Corporation (NVTA)'s stock to Market Perform from Outperform Thursday.
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Latest Insider Activity
Heliogen Inc. (HLGN) 10% Owner NeoTribe Partners I, LLC announced the sale of shares taking place on Jul 20 at $2.07 for some 81,273 shares. The total came to more than $0.17 million.
Zoom Video Communications Inc. (ZM) Chief Financial Officer Steckelberg Kelly sold on Jul 18 a total 6,700 shares at $102.00 on average. The insider’s sale generated proceeds of almost $683,400.
Helbiz Inc. (HLBZ) Chief Executive Officer Palella Salvatore declared the purchase of shares taking place on Jul 20 at $0.62 for some 327,425 shares. The transaction amount was around $0.2 million.
Rocket Companies Inc. (RKT) Chief Executive Officer Farner Jay bought on Jul 20 a total 21,300 shares at $9.40 on average. The purchase cost the insider an estimated $200,220.
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Important Earnings
Top US earnings releases scheduled for today include American Airlines Group Inc. (AAL). It will announce its Jun 2022 financial results. The company is expected to report earnings of $0.76 per share from revenues of $13.4B in the three-month period.
Analysts expect AT&T Inc. (NYSE: T) to report a net income (adjusted) of $0.61 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $29.55B.
Freeport-McMoRan Inc. (FCX), due to announce earnings before the market opens today, is expected to report earnings of $0.61 per share from revenues of $6.13B 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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