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- 28 Mar - NH - Morning Newsletter (with survey at top and bottom)
28 Mar - NH - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks Making Big Pre-Market Moves
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Good Morning!
March 25, the main US stock markets showed mixed dynamics. The S&P 500 rose 0.51% to 4543, the Dow Jones rose 0.44% and the Nasdaq shed 0.16%. Most of the sectors included in the broad market index closed in the green zone. The energy sector again became the growth leader (+2.28%). In a symbolic minus were only the IT sector and cyclical consumer goods, which lost 0.09% each.Company news
Tilray Brands (TLRY: +22.8%) and other cannabis growers reacted positively to the news that the MORE bill is due to be voted in the House of Representatives next week.
Cutera (CUTR: +20.4%) received approval for the AviClear acne treatment device, which could help improve its revenue guidance for the current year.
SmartRent (SMRT: -12.5%) guidance for Q1 and all of 2022 was well below consensus. Management is concerned about disruptions in supply chains.
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Today Top Movers
Hycroft Mining Holding Corporation (HYMC) stock soared 24.22% to $1.59 in the pre-market trading following the completion of its previously disclosed "at-the-market" equity offering program.
BitNile Holdings Inc. (AMEX: NILE) shares are trading up 18.27% at $0.9764 at the time of writing after reporting that it will pay off its senior secured notes this week.
Bitfarms Ltd. (BITF) grew over 9.92% at $4.1 in pre-market trading today. The company recorded revenues of $60 million in Q4 2021, up 33%, from $45 million in Q3 2021.
Tesla Inc. (TSLA), an Auto Manufacturers' company, rose about 4.28% at $1053.93 in pre-market trading Monday after declaring that it will ask shareholders to vote on a proposal that would enable the group to execute a stock split.
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Top Upgrades & Downgrades
JP Morgan turned bullish on Illinois Tool Works Inc. (ITW), upgrading the stock to "Overweight" and assigning a $255.00 price target, representing potential upside of 20.41% from Friday's close.
Deere & Company (DE) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $440.00, suggesting 0.84% additional upside for the stock.
The Duckhorn Portfolio Inc. (NAPA) received an upgrade from analysts at RBC Capital, who also set their one-year price target on the stock to $23.00. They changed their rating on NAPA to Outperform from Sector perform in a recently issued research note.
Earlier Monday Goldman Sachs reduced its rating on Microchip Technology Incorporated (MCHP) stock to Neutral from Buy and assigned the price target to $79.00.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Qorvo Inc. (QRVO) has been changed to Neutral from Buy and the new price target is set at $138.00.
Analysts at Goldman Sachs downgraded Teradyne Inc. (TER)'s stock to Neutral from Buy Monday.
Just One Stock, Really?
Our top analyst says this is the month that biotech makes a breakout move. Our friends at Behind the Markets have identified one stock that is set to turn the biotech world on its head.
Latest Insider Activity
Cloudflare Inc. (NET) Director Ledbetter Carl announced the sale of shares taking place on Mar 24 at $122.51 for some 20,000 shares. The total came to more than $2.45 million.
Coterra Energy Inc. (CTRA) Sr VP & General Counsel Barron Francis Brian sold on Mar 25 a total 341,212 shares at $28.04 on average. The insider’s sale generated proceeds of almost $0.28 million.
Exelon Corporation (EXC) Director BOWERS WILLIAM P declared the purchase of shares taking place on Mar 22 at $43.56 for some 4,500 shares. The transaction amount was around $0.2 million.
GameStop Corp. (GME) Director Attal Alain bought on Mar 24 a total 130,423 shares at $129.91 on average. The purchase cost the insider an estimated $194,865.
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Important Earnings
Top US earnings releases scheduled for today include XPeng Inc. (NYSE:XPEV). It will announce its Dec 2021 financial results. The company is expected to report earnings of -$0.34 per share from revenues of $1.2B in the three-month period.
Analysts expect TPG Inc. (NASDAQ:TPG) to report a net income (adjusted) of $0.42 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2021 is predicted to come in at $292M.
Stran & Company Inc. (STRN), due to announce earnings before the market opens today, is expected to report earnings of $0.02 per share from revenues of $11.23M 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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