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- 22 Aug - NH - Morning Newsletter (with survey at top and bottom)
22 Aug - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Starting the Week Strong
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Good Morning!
The U.S. stock market fell Monday after a weeklong rally was halted by fears of aggressive interest rate hikes.There was a drop of 321 points, or 0.95%, in Dow Jones Industrial Average futures. There was a 1.22% drop in the S&P 500 futures and a 1.57% drop in the Nasdaq 100 futures.Those moves came amid steep declines in European markets, mainly due to concerns about rising inflation and interest rates.There was a 1.29% decline in the S&P 500 on Friday. Both the Dow Jones Industrial Average and the Nasdaq Composite dropped 292 points, or 0.86%, and 2.01%, respectively. There were also losses in the major averages this week.A volatile week of trading on Wall Street is expected next week following those moves. As the central bank's annual Jackson Hole economic symposium approaches, investors will be watching Fed Chairman Jerome Powell's latest comments on inflation.
Individual investors are making an absolute killing on select gold stocks in 2H '22. But what's the safest and smartest way to invest? Here's an under-the-radar Canadian gold company that's amassed over 30 million ounces of the yellow metal...worth Tens of $Billions...trading at an insanely low US$1 per share.
Today Top Movers
Signify Health Inc. (SGFY) stock soared 39.76% to $29.63 in the pre-market trading following Wall Street Journal's report revealed Sunday that Amazon (AMZN) have now dived into a bidding war for home health service provider Signify Health (NYSE:SGFY). The most recent rating by RBC Capital Mkts, on July 29, 2022, is a Sector perform.
MSP Recovery Inc. (NASDAQ: MSPR) shares are trading up 43.26% at $3.08 at the time of writing after the company provided a business update, reported more than 34 million unique healthcare member lives as of August 11, 2022, with an additional 3 million anticipated prior to September 30, 2022. Company’s 52-week ranged between $0.94 to $11.70.
Summit Therapeutics Inc. (SMMT) grew over 10.0% at $1.21 in pre-market trading today upon the U.S SEC's approval of the company's regulatory filing following market close on Thursday, the company stock soared. CEO Robert Duggan recently purchased 94,849,203 Summit Therapeutics shares for around $92.1 million, according to a regulatory filing.
Veru Inc. (VERU), a Drug Manufacturers - Specialty & Generic company, rose about 7.38% at $18.76 in pre-market trading Monday. The firm reported the appointment of Jason Davies as Executive Vice President – General Manager of Europe.
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Top Upgrades & Downgrades
Citigroup turned bullish on Foot Locker Inc. (FL), upgrading the stock to Neutral and assigning a $38 price target, representing potential downside of -1.04% from recent close.
DaVita Inc. (DVA) has won the favor of UBS's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $117, suggesting 25.51% additional upside for the stock.
Horace Mann Educators Corporation (HMN) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $42. They changed their rating on HMN to Overweight from Neutral in a recently issued research note.
Earlier Friday Wells Fargo reduced its rating on HP Inc. (HPQ) stock to Underweight from Equal-weight and assigned the price target to $30.
Stephens & Co. analysts reduced their investment ratings, saying in research reports covered by the media that its rating for America's Car-Mart Inc. (CRMT) has been changed to Equal-weight from Overweight and the new price target is set at $83.
Analysts at HSBC downgraded Krispy Kreme Inc. (DNUT)'s stock to Hold from Buy on Friday.
Top 5 Stocks with Strong Insider Buying
One of the best ways to spot potential opportunity is by tracking insiders.
After all, who knows the company better than an insider - the CEO, CFO, COO, officers, employees, and directors? If they're buying a sizable number of shares, it's often a good idea to start looking into why and perhaps follow them into the stock. Here are five stocks seeing a good share of insider buying in recent weeks.
Latest Insider Activity
Norwegian Cruise Line Holdings Ltd. (NCLH) Pres. & CEO Oceania Cruises SHERMAN HOWARD J announced the sale of shares taking place on Aug 18 at $13.63 for some 86,225 shares. The total came to more than $1.18 million.
Robinhood Markets Inc. (HOOD) Chief Legal Officer Gallagher Daniel Martin Jr sold on Aug 18 a total 211,567 shares at $10.11 on average. The insider’s sale generated proceeds of almost $0.27 million.
BitNile Holdings Inc. (NILE) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on Aug 18 at $0.34 for some 1,000,000 shares. The transaction amount was around $0.34 million.
MGM Resorts International (MGM) 10% Owner IAC Inc. bought on Aug 18 a total 64,380,802 shares at $35.28 on average. The purchase cost the insider an estimated $5.0 million.
Free Report: Top 5 Gold Stocks for a Bear Market
There's still plenty of upside ahead for gold stocks.
Goldman Sachs says gold could run to $2,500 by the end of the year-especially with fears of a potential recession. And, according to Jeff Currie, Goldman Sachs global head of commodities research, as quoted by Bloomberg, "It's a perfect storm for gold right now."
So, where should we invest? Try these.
Important Earnings
Top US earnings releases scheduled for today include Nordson Corporation (NASDAQ:NDSN). It will announce its Jul 2022 financial results. The company is expected to report earnings of $2.44 per share from revenues of $650.6M in the three-month period.
Analysts expect Afya Limited (NASDAQ:AFYA) to report a net income (adjusted) of $0.19 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $103.2M.
Bit Digital Inc. (BTBT), due to announce earnings after the market closes today, is expected to report earnings of $0.01 per share from revenues of $14.3M 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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