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- 27 Feb - NH - Morning Newsletter (with survey at top and bottom)
27 Feb - NH - Morning Newsletter (with survey at top and bottom)
The Morning Market Watch: 4 Stocks to Keep an Eye On
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Good Morning!Stock futures rose Monday as traders sought to regain some ground after Wall Street's worst week this year. A big week of retail earnings also seems to be on investors' minds. There was a 0.4% increase in the futures of Dow Jones Industrial Average. Futures for the S&P 500 and Nasdaq-100 rose 0.5% and 0.6%, respectively. Friday marked the biggest weekly decline for the major averages in 2023. The Dow closed 3% lower that was the fourth week of consecutive drops. Nasdaq Composite lost 3.3% and S&P 500 lost 2.7% last week. With several economic data reports and corporate earnings coming out this week, investors will be looking for clues about how inflation is impacting consumers and businesses. On Monday morning, durable goods orders will be released. In the coming week, we will also get a look at the Consumer Confidence Index and the ISM manufacturing survey.
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Today Top Movers
Lucira Health Inc. (LHDX) stock soared 185.5% to $0.3997 in the pre-market trading after the Food and Drug Administration authorized use of its at-home test that can detect both the flu and the virus that causes COVID-19.
ObsEva SA (NASDAQ: OBSV) shares are trading up 58.67% at $0.1317 at the time of writing. The company recently announced strategic reorganization to consolidate operations in Switzerland
Seagen Inc. (SGEN) grew over 17.74% at $190.0 in pre-market trading today following the news that Pfizer is in early-stage talks to acquire cancer drugmaker Seagen Inc in what could be a multi-billion dollar deal.
Broadmark Realty Capital Inc. (BRMK), a REIT - Mortgage company, rose about 20.05% at $5.03 in pre-market trading Monday after announcing a definitive merger agreement pursuant to which Broadmark will merge with Ready Capital.
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Top Upgrades & Downgrades
Goldman Sachs turned bullish on Shell plc (SHEL), upgrading the stock to Buy and assigning a $85 price target, representing potential upside of 40.08% from Friday's close.
Baozun Inc. (BZUN) has won the favor of CLSA's equity research team. The firm upgraded the shares from Underperform to Outperform and moved their price target to $7, suggesting 15.89% additional upside for the stock.
Nomad Foods Limited (NOMD) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $21. They changed their rating on NOMD to Buy from Neutral in a recently issued research note.
Earlier Monday Raymond James reduced its rating on Village Farms International Inc. (VFF) stock to Market Perform from Outperform and assigned the price target to $2.5.
Telsey Advisory Group analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Best Buy Co. Inc. (BBY) has been changed to Market Perform from Outperform and the new price target is set at $83.
Analysts at Bernstein downgraded The Williams Companies Inc. (WMB)'s stock to Market Perform from Outperform Monday.
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Latest Insider Activity
Ingersoll Rand Inc. (IR) See Remarks Reynal Vicente announced the sale of shares taking place on Feb 22 at $57.50 for some 25,000 shares. The total came to more than $1.44 million.
Peabody Energy Corporation (BTU) EVP and CFO Spurbeck Mark sold on Feb 24 a total 21,070 shares at $25.88 on average. The insider’s sale generated proceeds of almost $0.55 million.
Akamai Technologies Inc. (AKAM) Chief Executive Officer LEIGHTON F THOMSON declared the purchase of shares taking place on Feb 24 at $74.27 for some 337 shares. The transaction amount was around $25029.0.
Intel Corporation (INTC) CEO GELSINGER PATRICK P bought on Feb 23 a total 9,700 shares at $25.68 on average. The purchase cost the insider an estimated $249,081.
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Important Earnings
Top US earnings releases scheduled for today include Fisker Inc. (NYSE: FSR). It will announce its Dec 2022 financial results. The company is expected to report earnings of -$0.42 per share from revenues of $2.51M in the three-month period.
Analysts expect fuboTV Inc. (NYSE: FUBO) to report a net income (adjusted) of -$0.71 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $285.54M.
Protalix BioTherapeutics Inc. (PLX), due to announce earnings before the market opens today, is expected to report earnings of -$0.15 per share from revenues of $6.12M 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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