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- 27 July - NH - Morning Newsletter (with survey at top and bottom)
27 July - NH - Morning Newsletter (with survey at top and bottom)
4 Value Stocks Taking Off This Morning
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Good Morning!
Google-parent Alphabet and Microsoft led Wednesday's morning gains as traders looked ahead to the Federal Reserve's interest rate decision later in the day. Dow Jones Industrial Average futures surged by 168 points, or 0.52%. Futures for the S&P 500 rose 1%, while Nasdaq 100 futures increased 1.51%. As a result of Google's strong performance in its quarterly report, Alphabet shares gained nearly 4%. Nonetheless, the company's earnings and revenue fell short of expectations. Despite disappointing earnings and revenue, Microsoft's share price surged 3.7%. A 9.7% rise in Enphase Energy's stock price was also attributed to its latest results. Following the release of mixed second-quarter earnings, Chipotle's shares also rose by 8%. A number of major earnings reports will follow soon. A quarterly report from Boeing and Shopify is expected to be released before the bell on Wednesday. We will hear from Qualcomm, Ford, and Meta Platforms at the end of the day.
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Today Top Movers
Pzena Investment Management Inc (PZN) stock soared 43.63% to $9.25 in pre-market trading after announcing that it has entered into an agreement to become a private company through a transaction in which holders of PZN Class A common stock will receive $9.60 per share in cash.
Teva Pharmaceutical Industries Limited (NYSE: TEVA) shares are trading up 19.1% at $8.48 at the time of writing. The company reported results for the quarter ended June 30, 2022.
Enphase Energy Inc. (ENPH) grew over 10.06% at $237.85 in pre-market trading today after reporting record quarterly revenue of $530.2 million in the second quarter of 2022, along with 42.2% for non-GAAP gross margin.
Alphabet Inc. (GOOGL), a Internet Content & Information company, rose about 3.54% at $108.74 in pre-market trading Wednesday after releasing quarterly earnings.
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Top Upgrades & Downgrades
RBC Capital turned bullish on Liberty Energy Inc. (LBRT), upgrading the stock to Outperform and assigning a $25 price target, representing potential upside of 81.09% from Tuesday's close.
Newmont Corporation (NEM) has won the favor of Canaccord Genuity's equity research team. The firm upgraded the shares from Hold to Buy and moved its price target to $60.00, suggesting a 30.04% additional upside for the stock.
International Seaways Inc. (INSW) received an upgrade from analysts at BTIG, who also set their one-year price target on the stock to $30. They changed their rating on INSW to Buy from Neutral in a recently issued research note.
Earlier Wednesday Macquarie reduced its rating on F45 Training Holdings Inc. (FXLV) stock to Neutral from Outperform and assigned the price target to $4.00.
Stifel analysts reduced their investment ratings, saying in research reports covered by the media that its rating for 1Life Healthcare Inc. (ONEM) has been changed to Hold from Buy and the new price target is set at $18.
Analysts at Deutsche Bank downgraded McDonald's Corp (MCD)'s stock to Hold from Buy Wednesday.
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Latest Insider Activity
Alphabet Inc. (GOOG) Director MATHER ANN announced the sale of shares taking place on Jul 25 at $108.94 for some 300 shares. The total came to more than $32682.0.
Palantir Technologies Inc. (PLTR) See Remarks Sankar Shyam sold on Jul 22 a total 125,000 shares at $9.95 on average. The insider’s sale generated proceeds of almost $1.24 million.
BitNile Holdings Inc. (NILE) 10% Owner BitNile Holdings, Inc. declared the purchase of shares taking place on Jul 25 at $7.57 for some 18,769 shares. The transaction amount was around $0.14 million.
American Eagle Outfitters Inc. (AEO) Director Sable David M. bought on Jul 22 a total 432 shares at $12.06 on average. The purchase cost the insider an estimated $5,207.
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Important Earnings
Top US earnings releases scheduled for today include Shopify Inc. (NYSE: SHOP). It will announce its Jun 2022 financial results. The company is expected to report earnings of $0.03 per share from revenues of $1.7B in the three-month period.
Analysts expect Bristol-Myers Squibb Company (NYSE: BMY) to report a net income (adjusted) of $1.79 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $11.43B.
The Boeing Company (BA), due to announce earnings before the market opens today, is expected to report earnings of -$0.16 per share from revenues of $17.55B 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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