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- 25 Aug - NH - Morning Newsletter (with survey at top and bottom)
25 Aug - NH - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks You Should Watch Today
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Good Morning!
Stock futures in the U.S. rose Thursday morning after the major averages ended higher on the day.A gain of 220 points, or 0.67%, was seen in Dow Jones Industrial Average futures. A 0.88% rise in the S&P 500 was followed by a 0.97% increase in the Nasdaq 100. After Nvidia's quarterly report missed Wall Street expectations, its shares dropped more than 2% and after the release of Salesforce's disappointing fiscal 2023 forecast, the company's stock fell more than 4%. Meanwhile, in response to Snowflake's revenue beat, the stock jumped 16%.A gain of 59.64 points, or 0.18%, was recorded by the Dow Jones Industrial Average Wednesday, while a gain of 0.29% was recorded by the S&P 500. The gains ended three-day losing streaks for both averages. Additionally, the tech-heavy Nasdaq Composite gained 0.41%.Markets are moving as investors anticipate the start of the Jackson Hole economic symposium, which will begin today with Federal Reserve Chair Jerome Powell speaking tomorrow. Investors will be watching for more information about the central bank's strategy for combating inflation and whether rates will be cut after the current hike cycle concludes.
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
FREYR Battery (FREY) stock soared 14.47% to $12.1 in pre-market trading after announcing that it has awarded a strategic alliance frame agreement to South Korea-based Hana Technology Co. Ltd.
Snowflake Inc. (NYSE: SNOW) shares are trading up 17.44% at $187.3 at the time of writing following the release of financial results for the Q2 of fiscal 2023.
Autodesk Inc. (ADSK) grew over 8.81% at $233.33 in pre-market trading today. The company reported a 17% increase in revenue to $1,237 million in the second quarter of fiscal 2023.
SOBR Safe, Inc. (SOBR), a technology company, rose about 12.96% at $1.22 in pre-market trading Thursday after announcing that global manufacturing expert David Crandall has joined SOBRsafe in the role of Advisor to the Board of Directors.
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.
Top Upgrades & Downgrades
Morgan Stanley turned bullish on Stride Inc. (LRN), upgrading the stock to Overweight and assigning a $45.00 price target, representing potential upside of 26.83% from Wednesday's close.
Verve Therapeutics Inc. (VERV) has won the favor of Stifel's equity research team. The firm upgraded the shares from Hold to Buy and moved its price target to $56.00, suggesting a 39.58% additional upside for the stock.
Dream Finders Homes Inc. (DFH) received an upgrade from analysts at B of A Securities, who also set their one-year price target on the stock to $12.00. They changed their rating on DFH to Neutral from Underperform in a recently issued research note.
Earlier Thursday JP Morgan reduced its rating on GDS Holdings Limited (GDS) stock to Neutral from Overweight and assigned the price target to $28.00.
HC Wainwright & Co. analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Akerna Corp. (KERN) has been changed to Neutral from Buy and the new price target is set at $0.15.
Analysts at Raymond James downgraded La-Z-Boy Incorporated (LZB)'s stock to Market Perform from Outperform Thursday.
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Latest Insider Activity
Roblox Corporation (RBLX) Chief Business Officer Donato Craig announced the sale of shares taking place on Aug 24 at $41.60 for some 7,713 shares. The total came to more than $0.32 million.
Cisco Systems Inc. (CSCO) Chair and CEO Robbins Charles sold on Aug 24 a total 12,716 shares at $47.14 on average. The insider’s sale generated proceeds of almost $599,404.
Nikola Corporation (NKLA) 10% Owner Milton Trevor R. declared the purchase of shares taking place on Aug 24 at $5.80 for some 3,000,000 shares. The transaction amount was around $17.4 million.
Luminar Technologies Inc. (LAZR) Chairperson, President & CEO Russell Austin bought on Aug 24 a total 25,000 shares at $9.07 on average. The purchase cost the insider an estimated $226,708.
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 Peloton Interactive Inc. (NASDAQ: PTON). It will announce its Jun 2022 financial results. The company is expected to report earnings of -$0.72 per share from revenues of $718.19M in the three-month period.
Analysts expect Dollar General Corporation (NYSE:DG) to report a net income (adjusted) of $2.93 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2022 is predicted to come in at $9.4B.
Coty Inc. (COTY), due to announce earnings before the market opens today, is expected to report earnings of -$0.01 per share from revenues of $1.14B 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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