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- 24 Aug - NH - Morning Newsletter (with survey at top and bottom)
24 Aug - NH - Morning Newsletter (with survey at top and bottom)
Checkout These 4 Hot Stocks Right Now
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Good Morning!
Wednesday's stock futures are little changed as investors awaited more information from Fed Chairman Jerome Powell about how the central bank plans to tighten policy.All three index futures, the Dow Jones Industrial Average, S&P 500, and Nasdaq 100, closed roughly flat yesterday.Trading volumes were relatively thin Tuesday as both Wall Street indexes declined for a third straight session. A little change was seen in the Nasdaq Composite. Following a rally of more than 9% in July, the S&P 500 is basically flat on the month.Powell will speak Friday morning during the three-day Jackson Hole economic symposium. He is expected to reinforce the central bank's goal of stifling inflation and reducing expectations regarding future price increases.As well as monitoring incoming data, investors are looking for clues about the economy's health.
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Today Top Movers
Bird Global Inc. (BRDS) stock soared 24.32% to $0.5362 in the pre-market trading after announcing that cities including San Diego, California, Memphis, Tennessee, and Newark, New Jersey, as well as Durham, North Carolina and Louisville, Kentucky, will extend their shared e-mobility programs with Bird.
Tattooed Chef Inc. (NASDAQ: TTCF) shares are trading up 13.88% at $7.14 at the time of writing after announcing an expanded distribution agreement with Walmar that will increase the availability of Tattooed Chef branded products at Walmart stores across the United States.
Intuit Inc. (INTU) grew over 5.71% at $475.25 in pre-market trading today after reporting strong full year results.
Minerva Neurosciences Inc. (NERV), a Biotechnology company, rose about 22.84% at $5.54 in pre-market trading Wednesday. The company submitted a new drug application to the FDA seeking approval of roluperidone to treat negative symptoms in patients with schizophrenia. Minerva is seeking approval for the 64 mg dosage of roluperidone.
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
Grupo Santander turned bullish on Intercorp Financial Services Inc. (IFS), upgrading the stock to "Outperform" and assigning a $29.00 price target.
Prologis Inc. (PLD) has won the favor of Wolfe Research's equity research team. The firm upgraded the shares from Peer Perform to Outperform.
AvalonBay Communities Inc. (AVB) received an upgrade from analysts at Wolfe Research. They changed their rating on AVB to Outperform from Peer Perform in a recently issued research note.
Earlier Wednesday Barclays reduced its rating on XPeng Inc. (XPEV) stock to Neutral from Outperform and assigned the price target to $22.00.
Raymond James analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Medtronic plc (MDT) has been changed to Market Perform from Outperform.
Analysts at William Blair downgraded Avalara Inc. (AVLR)'s stock to Market Perform from Outperform Wednesday.
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Latest Insider Activity
Amazon.com Inc. (AMZN) CEO Worldwide Amazon Stores Herrington Douglas J announced the sale of shares taking place on Aug 22 at $134.25 for some 7,448 shares. The total came to more than $1.0 million.
Roku Inc. (ROKU) Director Fyfield Mai sold on Aug 23 a total 826 shares at $71.15 on average. The insider’s sale generated proceeds of almost $8253.0.
Nerdy Inc. (NRDY) Chief Executive Officer Cohn Charles K. declared the purchase of shares taking place on Aug 20 at $3.50 for some 5,000,000 shares. The transaction amount was around $17.5 million.
VistaGen Therapeutics Inc. (VTGN) Director GIN JERRY B bought on Aug 18 a total 100,000 shares at $0.18 on average. The purchase cost the insider an estimated $17,870.
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Important Earnings
Top US earnings releases scheduled for today include Petco Health and Wellness Company Inc. (NASDAQ: WOOF). It will announce its Jul 2022 financial results. The company is expected to report earnings of $0.22 per share from revenues of $1.49B in the three-month period.
Analysts expect II-VI Incorporated (NASDAQ:IIVI) to report a net income (adjusted) of $0.94 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $858.68M.
Brinker International Inc. (EAT), due to announce earnings before the market opens today, is expected to report earnings of $1.15 per share from revenues of $1.02B 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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