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  • 24 June - NH - Morning Newsletter (with survey at top and bottom)

24 June - NH - Morning Newsletter (with survey at top and bottom)

4 Hot Stocks to Trade Before Weekend

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Good Morning!

US stock futures gained upward momentum in the early morning trading hours of Friday, setting up Wall Street for its first weekly gain in a month. Global markets, however, continue to indicate that growth concerns have surpassed inflation worries heading into the second half of the year.Wall Street ended higher on Thursday after another volatile session as investors are still trying to adapt to the new monetary and economic environment, after the announcement of a sharp slowdown in activity in the States United States and Europe in June. Fed Chairman Jerome Powell said on Thursday that the central bank's determination to fight inflation was "unconditional". Fear of a recession led to a shift to the less risky bond markets, causing yields to plunge for the second day in a row.At the close, the Dow Jones rose 0.64% to 30,697 points, while the broad S&P 500 index gained 0.95% to 3,795 points. NASDAQ Composite, rich in technology and biotech stocks, rebounded 1.62% to 11,232 points.In economic news on Friday, new home sales for the month of May will be released at at 10:00 a.m. In addition, watch for the final consumer sentiment index from the University of Michigan in June. The Fed's Mary Daly and James Bullard will speak during the day.

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.

Today Top Movers

Zendesk Inc. (ZEN) stock soared 49.27% to $86.5 in the pre-market trading on news of the fresh buyout deal.

ToughBuilt Industries Inc. (NASDAQ: TBLT) shares are trading up 50.0% at $2.61 at the time of writing following the closure of $6 million public offering.

FedEx Corporation (FDX) grew over 2.9% at $234.75 in pre-market trading today on strong earnings forecast.

Fujian Blue Hat Interactive Entertainment Technology Ltd. (BHAT), an Electronic Gaming & Multimedia company, rose about 35.9% to $3.71 in pre-market trading Friday after the termination of the public offering.

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Top Upgrades & Downgrades

Goldman Sachs turned bullish on Wolfspeed Inc. (WOLF), upgrading the stock to "Buy" and assigning a $108 price target, representing potential upside of 71.43% from Thursday's close.

Altria Group Inc. (MO) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Undereight to Equal-Weight and moved their price target to $43, suggesting 1.18% additional upside for the stock.

Sunoco LP (SUN) received an upgrade from analysts at Mizuho, who also set their one-year price target on the stock to $44. They changed their rating on SUN to Buy from Neutral in a recently issued research note.

Earlier Friday Evercore ISI Group reduced its rating on 8x8 Inc. (EGHT) stock to Neutral from Outperform and assigned the price target to $6.

JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Futu Holdings Limited (FUTU) has been changed to Neutral from Overweight and the new price target is set at $55.

Analysts at Piper Sandler downgraded Assurant Inc. (AIZ)'s stock to Neutral from Overweight Friday.

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Latest Insider Activity

Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer announced the sale of shares taking place on Jun 21 at $166.11 for some 342 shares. The total came to more than $56810.0.

Gevo Inc. (GEVO) President & COO Ryan Christopher Michael sold on Jun 21 a total 51,049 shares at $2.59 on average. The insider’s sale generated proceeds of almost $131,997.

Occidental Petroleum Corporation (OXY) 10% Owner BERKSHIRE HATHAWAY INC declared the purchase of shares taking place on Jun 22 at $55.49 for some 3,878,258 shares. The transaction amount was around $215.22 million.

Rocket Companies Inc. (RKT) Chief Executive Officer Farner Jay bought on Jun 22 a total 28,600 shares at $6.97 on average. The purchase cost the insider an estimated $199,342.

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Important Earnings

Top US earnings releases scheduled for today include Carnival Corporation & plc (NYSE: CCL). It will announce its May 2022 financial results. The company is expected to report earnings of -$1.08 per share from revenues of $2.61B in the three-month period.

Analysts expect Kanzhun Limited (NASDAQ: BZ) to report a net income (adjusted) of $0.02 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2022 is predicted to come in at $166.26M.

CarMax Inc. (KMX), due to announce earnings before the market opens today, is expected to report earnings of $1.49 per share from revenues of $9.06B 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.