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- 24 Feb - NH - Morning Newsletter (with survey at top and bottom)
24 Feb - NH - Morning Newsletter (with survey at top and bottom)
The Early Stock Report: Best Performing Stocks for Today
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Good Morning!The U.S. stock market traded lower on Friday as investors awaited inflation data for more clues on whether rates will need to keep rising.Here's what's going onFutures for the Dow Jones Industrial Average have fallen 65 points, or 0.2%, to 33117.Futures on the S&P 500 fell 13 points, or 0.3%, to 4006.Futures on the Nasdaq 100 decreased by 82 points, or 0.7%, to 12126.As of Thursday, the Dow Jones Industrial Average gained 109 points, or 0.33%, to 33154, the S&P 500 climbed 21 points, or 0.53%, to 4012, and the Nasdaq Composite rose 83 points, or 0.72%, to 11590.On Friday, the Department of Commerce will release the latest update to its price index for personal consumption expenditure, along with consumer spending and personal income figures.
The Top 5 NASDAQ Stocks to Own for New Year 2023
Even in the worst of times, markets have rallied back. Just as they always have. So, if you're thinking of quitting the market, don't. There are plenty of bargains and hot investing ideas to jump on. In fact, here are five of our best ideas for 2023.
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Today Top Movers
ASLAN Pharmaceuticals Limited (ASLN) stock soared 14.3% to $0.8 in the pre-market trading following the announcement of $20M private placement led by BVF Partners L.P. with the potential to receive up to an additional $80M.
Beyond Meat Inc. (NASDAQ: BYND) shares are trading up 12.89% at $19.35 at the time of writing after reporting fourth quarter and full year 2022 financial results.
Akebia Therapeutics Inc. (AKBA) grew over 9.41% at $0.8096 in pre-market trading today.The company received positive CHMP opinion in Europe for Vafseo™ for the treatment of Symptomatic Anaemia associated with Chronic Kidney Disease in Adults on Chronic Maintenance Dialysis.
Block Inc. (SQ), a Software - Infrastructure company, rose about 7.39% at $79.63 in pre-market trading Friday. The company declared Q4 and full year 2022 results.
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Top Upgrades & Downgrades
CLSA turned bullish on Vipshop Holdings Limited (VIPS), upgrading the stock to "Buy" and assigning a $17 price target, representing potential upside of 24.82% from Thursday's close.
Youdao Inc. (DAO) has won the favor of Jefferies's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $10, suggesting 25.31% additional upside for the stock.
W.W. Grainger Inc. (GWW) received an upgrade from analysts at RBC Capital, who also set their one-year price target on the stock to $679. They changed their rating on GWW to Sector Perform from Underperform in a recently issued research note.
Earlier Friday Baird reduced its rating on Domino's Pizza Inc. (DPZ) stock to Neutral from Outperform and assigned the price target to $320.
Cantor Fitzgerald analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Root Inc. (ROOT) has been changed to Neutral from Overweight and the new price target is set at $6.
Analysts at Jefferies downgraded Nektar Therapeutics (NKTR)'s stock to Underperform from Hold Friday.
5 Stocks to Buy Immediately
Eric Fry, one of America's top Investment Strategists, provides his latest report 5 Top Stocks for 2023. You can't afford to miss out on the once in a decade chance to buy after the recent dip in the markets.
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Latest Insider Activity
Voya Financial Inc. (VOYA) See Remarks Hurtsellers Christine announced the sale of shares taking place on Feb 23 at $73.69 for some 18,026 shares. The total came to more than $1.33 million.
Exelixis Inc. (EXEL) Director Garber Alan M sold on Feb 21 a total 40,000 shares at $17.49 on average. The insider’s sale generated proceeds of almost $0.7 million.
GlycoMimetics Inc. (GLYC) 10% Owner Invus Public Equities, L.P. declared the purchase of shares taking place on Feb 23 at $1.75 for some 200,000 shares. The transaction amount was around $0.35 million.
Energy Transfer LP (ET) Executive Chairman WARREN KELCY L bought on Feb 22 a total 1,339,398 shares at $12.99 on average. The purchase cost the insider an estimated $17.4 million.
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Important Earnings
Top US earnings releases scheduled for today include Cinemark Holdings Inc. (NYSE: CNK). It will announce its Dec 2022 financial results. The company is expected to report earnings of -$0.21 per share from revenues of $609.94M in the three-month period.
Analysts expect Uniti Group Inc. (NASDAQ: UNIT) to report a net income (adjusted) of $0.17 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $285.76M.
Taboola.com Ltd. (TBLA), due to announce earnings before the market opens today, is expected to report earnings of $0.16 per share from revenues of $367.49M 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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