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- 26 Aug - NH - Morning Newsletter (with survey at top and bottom)
26 Aug - NH - Morning Newsletter (with survey at top and bottom)
4 Best Performing Stocks for Friday Trading
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Good Morning!
Ahead of Jerome Powell's speech in Jackson Hole, Wyoming, stock futures dropped Friday morning.The Dow Jones Industrial Average futures slipped by 87 points, or 0.3%. The S&P 500 futures were down by 0.4% and the Nasdaq 100 futures slided 0.6%.Yesterday, the Dow gained about 300 points and the S&P 500 gained 1.4%. A pullback in yields helped tech shares advance 1.7% on the Nasdaq Composite.Still, all major averages are set for a second straight week of declines. It is estimated that the Dow will decline by 1.2%. Nasdaq Composite and S&P 500 are expected to decline by 0.7% and 0.5%, respectively.The market expects the Fed to act this autumn in a more cautious manner, with many expecting Powell to reiterate the Fed's promise to slow inflation and raise interest rates. When the Fed meets in September, opinion is divided as to whether it will raise rates by half a percentage point or three quarters.
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.
Today Top Movers
Workday Inc. (WDAY) stock soared 10.86% to $180.0 in the pre-market trading after announcing fiscal 2023 second quarter financial results.
Micro Focus International plc (NYSE: MFGP) shares are trading up 93.93% at $6.07 at the time of writing following the acquisition deal with OpenText.
Farfetch Limited (FTCH) grew over 14.26% at $10.9 in pre-market trading today. The company recently declared 2nd quarter 2022 results.
89bio Inc. (ETNB), a Biotechnology company, rose about 9.73% at $5.19 in pre-market trading Friday after reporting the presentation of data from ENTRIGUE, its Phase 2 proof-of-concept trial of pegozafermin in severe hypertriglyceridemia (SHTG) at the European Society of Cardiology (ESC) Congress 2022.
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Top Upgrades & Downgrades
Deutsche Bank turned bullish on FactSet Research Systems Inc. (FDS), upgrading the stock to "Buy" and assigning a $507 price target.
VTEX (VTEX) has won the favor of BofA's equity research team. The firm upgraded the shares from Neutral to Buy.
PetroChina Company Limited (PTR) received an upgrade from analysts at Citi. They changed their rating on PTR to Buy from Neutral in a recently issued research note.
Earlier Friday Stifel reduced its rating on IRIDEX Corporation (IRIX) stock to Hold from Buy and assigned the price target to $3.00.
Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Centene Corporation (CNC) has been changed to Equal-Weight from Overweight and the new price target is set at $99.00.
Analysts at RBC Capital downgraded GDS Holdings Limited (GDS)'s stock to Sector Perform from Outperform Friday.
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.
Latest Insider Activity
Advanced Micro Devices Inc. (AMD) EVP, Computing & Graphics Bergman Rick announced the sale of shares taking place on Aug 23 at $92.39 for some 3,000 shares. The total came to more than $0.28 million.
Salesforce Inc. (CRM) Chair and Co-CEO Benioff Marc sold on Aug 24 a total 2,300 shares at $179.53 on average. The insider’s sale generated proceeds of almost $412,908.
Palisade Bio Inc. (PALI) Chief Financial Officer Finley John David declared the purchase of shares taking place on Aug 23 at $0.16 for some 7,350 shares. The transaction amount was around $1176.0.
Intel Corporation (INTC) CEO GELSINGER PATRICK P bought on Aug 24 a total 14,800 shares at $33.86 on average. The purchase cost the insider an estimated $501,153.
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 JinkoSolar Holding Co. Ltd. (NYSE: JKS). It will announce its Jun 2022 financial results. The company is expected to report earnings of $0.38 per share from revenues of $2.28B in the three-month period.
Analysts expect Catalent Inc. (NYSE: CTLT) to report a net income (adjusted) of $1.15 per share, when the company releases its quarterly results Monday. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $1.33B.
H World Group Limited (HTHT), due to announce earnings before the market opens Monday, is expected to report earnings of $0.09 per share from revenues of $534.06M 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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