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24 May - ST - Morning Newsletter (with survey at top and bottom)
4 Best Stocks to Watch Today
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Good Morning!
The session on May 23, the main US stock markets ended in the green zone. The S&P 500 climbed 1.86% to 3974, the Dow Jones gained 1.98% and the Nasdaq gained 1.59%. All 11 S&P 500 sectors closed higher. The best dynamics was demonstrated by the financial (+3.23%), energy (+2.68%) and IT sectors (+2.37%).Company news
Bloomberg and WSJ reported that Broadcom Inc. (AVGO: -3.1%) is in preliminary talks to acquire VMware (VMW: +24.8%) in a deal that is expected to be funded by both cash and shares. It is noted that the discussion continues, and so far there is no guarantee that it will end with the conclusion of an agreement.
AirBNB (ABNB: +0.65%) withdraws from mainland China.
According to CNBC, major potential buyers of Kohl's (KSS: -2.5%) have suspended negotiations as they are having difficulty obtaining financing for the deal.
Nevada Desert more Valuable than Wall Street or Silicon Valley?
It could be true, according to Nevada Governor Steve Sisolak. The state's desert flats contain more lithium than any other geography in the world. And with electric vehicles driving a global boom in demand for lithium-ion batteries, Nevada should be on every investor's radar.
Today Top Movers
CynergisTek Inc. (CTEK) stock soared 101.69% to $1.19 in the pre-market trading after announcing that it has entered into a definitive agreement to be acquired by Clearwater Compliance LLC, in an all-cash transaction that values CynergisTek at approximately $17.7 million.
Zoom Video Communications Inc. (NASDAQ: ZM) shares are trading up 6.62% at $95.24 at the time of writing. The company recently released financial results for the first fiscal quarter ended April 30, 2022.
Insulet Corporation (PODD) grew over 11.91% at $227.0 in pre-market trading today on a news that DexCom is in talks to acquire the automated insulin technology developer.
Roivant Sciences Ltd. (ROIV), a Biotechnology company, rose about 6.85% at $3.90 in pre-market trading Tuesday after receiving approval of VTAMA® (tapinarof) cream from FDA.
Free Report: Forever Stocks: The Top 5 Stocks That Should be in All Portfolios
For many investors, a long-term buy and hold strategy is a great choice.
Especially if you can find top notch companies, with a solid history of returns, or ones that could get red hot with supply demand issues.
Look at Apple, Microsoft, Amazon.com, or even Meta Platforms for proof.
In fact, we've found five you may want to consider holding forever.
Top Upgrades & Downgrades
Morgan Stanley turned bullish on Marqeta Inc. (MQ), upgrading the stock to Overweight and assigning a $15.00 price target, representing potential upside of 54.16% from Monday's close.
Snowflake Inc. (SNOW) has won the favor of Rosenblatt's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $255.00, suggesting 83.86% additional upside for the stock.
Northwest Natural Holding Company (NWN) received an upgrade from analysts at BofA, who also set their one-year price target on the stock to $53.00. They changed their rating on NWN to Neutral from Underperform in a recently issued research note.
Earlier Tuesday Atlantic Equities reduced its rating on Roblox Corporation (RBLX) stock to Neutral from Overweight and assigned the price target to $30.00.
Berenberg analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Switch Inc. (SWCH) has been changed to Hold from Buy.
Analysts at Keybanc downgraded WalkMe Ltd. (WKME)'s stock to Sector-Weight from Overweight Tuesday.
Smart-Money Driving Small-Cap Uranium Stocks to Dizzying Heights
The 2022 Uranium Bull Market has arrived and it looks like one for the history books. Just like last time when investors watched the Uranium price shoot all the way to $140. In the immortal musings of all-time Yankee great, Yogi Berra, 'It's Déjá Vu All Over Again!' because this US$4 Uranium stock just secured royalty interests on the two largest and richest high-grade uranium mines on the planet.
Latest Insider Activity
Amgen Inc. (AMGN) Director Williams R Sanders announced the sale of shares taking place on May 23 at $250.00 for some 600 shares. The total came to more than $0.15 million.
Tenable Holdings Inc. (TENB) President, CEO and Chairman Yoran Amit sold on May 23 a total 4,047 shares at $47.85 on average. The insider’s sale generated proceeds of almost $193,649.
KBR Inc. (KBR) EVP & Chief Financial Officer SOPP MARK W declared the purchase of shares taking place on May 23 at $47.74 for some 1,050 shares. The transaction amount was around $50130.0.
The Home Depot Inc. (HD) Director Seidman Becker Caryn bought on May 23 a total 1,500 shares at $287.73 on average. The purchase cost the insider an estimated $431,595.
Leaked tax return reveals secret to pocketing $460,164...
Official tax return reveals how one trader nabbed annual gains of 228%, 309% and 339%. His tax return was released online, exposing this simple trading technique used to pocket nearly half a million in profits.
Important Earnings
Top US earnings releases scheduled for today include Best Buy Co. Inc. (NYSE:BBY). It will announce its Apr 2022 financial results. The company is expected to report earnings of $1.61 per share from revenues of $10.4B in the three-month period.
Analysts expect Petco Health and Wellness Company Inc. (NASDAQ: WOOF) to report a net income (adjusted) of $0.15 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2022 is predicted to come in at $1.46B.
Abercrombie & Fitch Co. (ANF), due to announce earnings before the market opens today, is expected to report earnings of $0.08 per share from revenues of $799.31M 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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