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23 Aug - ST - Morning Newsletter (with survey at top and bottom)
4 Active Stocks to Watch in Today's Session
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Good Morning!
Despite the market's worst performance since June, stock futures rose on Tuesday.There was a gain of 40 points, or 0.1%, in Dow Jones Industrial Average futures, as well as a gain of 0.1% in S&P 500 and Nasdaq 100 futures.Zoom Video shares fell after the video conferencing company lowered its full-year forecast, while Palo Alto Networks shares rose on the back of strong quarterly results.In the wake of mounting concerns about rate hikes, Wall Street ended the session on a downbeat note.S&P 500 and Nasdaq Composite both fell more than 2% Monday, while the Dow dropped more than 600 points. In terms of one-day drops, those were the biggest since June 16. Nasdaq also plunged to its lowest level since June 28.Information technology and consumer discretionary stocks led the sell-off on Monday, with all 11 S&P 500 sectors closing lower. The Nasdaq was dragged down by a decline in tech stocks.
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
Aerie Pharmaceuticals Inc. (AERI) stock soared 34.62% to $15.01 in the pre-market trading. The most recent rating by BofA Securities, on October 19, 2020, is an Underperform. Alcon to Acquire Aerie Pharmaceuticals, Inc., Enhancing its Ophthalmic Pharmaceutical Portfolio.
Marin Software Incorporated (NASDAQ: MRIN) shares are trading up 22.86% at $2.15 at the time of writing. Company’s 52-week ranged between $1.58 to $11.42. Marin Software Announces Snapchat Integration.
Palo Alto Networks Inc. (PANW) grew over 8.59% at $551.7 in pre-market trading today. Palo Alto Networks Reports Fiscal Fourth Quarter and Fiscal Year 2022 Financial Results.
JD.com Inc. (JD), a Internet Retail company, rose about 2.13% at $56.5 in pre-market trading Tuesday. JD reported the Second Quarter and Interim 2022 Results.
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.
Top Upgrades & Downgrades
William Blair turned bullish on Foot Locker Inc. (FL), upgrading the stock to "Hold" and assigning a $$29 price target, representing potential downside of -27.1% from Monday's close.
Schneider National Inc. (SNDR) has won the favor of Evercore ISI Group's equity research team. The firm upgraded the shares from In-line to Outperform and moved their price target to $28, suggesting 13.68% additional upside for the stock.
Elevance Health Inc. (ELV) received an upgrade from analysts at SVB Leerink, who also set their one-year price target on the stock to $$580. They changed their rating on ELV to Outperform from Market-Perform in a recently issued research note.
Earlier Tuesday Morgan Stanley reduced its rating on Pharvaris N.V. (PHVS) stock to Equal-Weight from Overweight and assigned the price target to $10.
Ascendiant Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for AutoWeb Inc. (AUTO) has been changed to Hold from Buy and the new price target is set at $0.39.
Analysts at BTIG downgraded Zoom Video Communications, Inc. (ZM)'s stock to Neutral from Buy.
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Latest Insider Activity
DoorDash Inc. (DASH) Director MERESMAN STANLEY J announced the sale of shares taking place on Aug 18 at $66.81 for some 15,000 shares. The total came to more than $1.0 million.
Airbnb Inc. (ABNB) Director Johnson Belinda J. sold on Aug 18 a total 5,920 shares at $121.50 on average. The insider’s sale generated proceeds of almost $0.12 million.
BitNile Holdings Inc. (NILE) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on Aug 19 at $0.32 for some 938,682 shares. The transaction amount was around $0.3 million.
Kohl's Corporation (KSS) Director BONEPARTH PETER bought on Aug 19 a total 70,700 shares at $30.01 on average. The purchase cost the insider an estimated $750,130.
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 Absolute Software Corporation (NASDAQ:ABST). It will announce its Jun 2022 financial results. The company is expected to report earnings of -$0.11 per share from revenues of $53.11M in the three-month period.
Analysts expect Check-Cap Ltd. (NASDAQ:CHEK) to report a net income (adjusted) of -$0.05 per share, when the company releases its quarterly results shortly.
Renovare Environmental, Inc. (RENO), due to announce earnings after the market closes today, is expected to report earnings of -$0.06 per share from revenues of $2M 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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