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- 30 Jan - NH - Morning Newsletter (with survey at top and bottom)
30 Jan - NH - Morning Newsletter (with survey at top and bottom)
Hot Stock Picks and Market Insights for the Early Riser
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Good Morning!From the trading data, US stock indices are down on Monday. On Wednesday, the Federal Reserve System (FRS) will determine its monetary policy, while on Friday, labor market data will be published. Dow Jones Industrial Average (DJIA) futures decreased by 0.6% to 33,843 points, NASDAQ high-tech index futures decreased by 1.25 % to 12,070.75 points, and S&P 500 futures decreased by 0.89% to 4,048 points.US Federal Reserve decisions are expected to be published on Wednesday. Based on CME Group's research, 99% of analysts anticipate the regulator will raise the discount rate from 4.5% to 4.75%. On Friday, US labor market statistics will be released. According to analysts, unemployment will rise to 3.6% in January from 3.5% in December.
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Today Top Movers
SoFi Technologies Inc. (SOFI) stock soared 6.06% to $6.3 in the pre-market trading. The company reported $457 million GAAP net revenue in Q4 up 60% year-over-year and $443 million adjusted net revenue up 58% year-over-year
G Medical Innovations Holdings Ltd (NASDAQ: GMVD) shares are trading up 51.33% at $4.54 at the time of writing after announcing that it has received a patent issue notification from the United States Patent and Trademark Office for its monitoring products marketed in the United States.
Genius Group Limited (GNS) tumbled over -5.06% at $3.75 in pre-market trading today following the approval of $37 million spinoff of Entrepreneur Resorts Ltd from its board.
Evoke Pharma Inc. (EVOK), a Drug Manufacturers - Specialty & Generic company, gained about 8.70% at $6.00 in pre-market trading Monday after declaring that a joint stipulation of dismissal has been filed in the GIMOTI® patent infringement case in the United States District Court for the District of New Jersey.
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Top Upgrades & Downgrades
Berenberg turned bullish on Tesla Inc. (TSLA), upgrading the stock to "Buy" and assigning a $200 price target, representing potential upside of 12.42% from Friday's close.
Kemper Corporation (KMPR) has won the favor of Credit Suisse's equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $56, suggesting 0.21% additional upside for the stock.
G1 Therapeutics Inc. (GTHX) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $10. They changed their rating on GTHX to Neutral from Underweight in a recently issued research note.
Earlier Monday Berenberg reduced its rating on General Motors Company (GM) stock to Hold from Buy and assigned the price target to $41.
Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Edwards Lifesciences Corporation (EW) has been changed to Neutral from Overweight and the new price target is set at $80.
Analysts at Credit Suisse downgraded Saia Inc. (SAIA)'s stock to Neutral from Outperform Monday.
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Latest Insider Activity
NVIDIA Corporation (NVDA) EVP, Operations Shoquist Debora announced the sale of shares taking place on Jan 27 at $205.00 for some 23,532 shares. The total came to more than $4.82 million.
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer sold on Jan 25 a total 342 shares at $141.40 on average. The insider’s sale generated proceeds of almost $48359.0.
Coinbase Global Inc. (COIN) Director Lutke Tobias declared the purchase of shares taking place on Jan 24 at $54.38 for some 6,612 shares. The transaction amount was around $0.36 million.
SoundHound AI Inc. (SOUN) Chief Financial Officer SHARAN NITESH bought on Jan 20 a total 3,334 shares at $30.00 on average. The purchase cost the insider an estimated $100,020.
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Important Earnings
Top US earnings releases scheduled for today include Confluent, Inc. (CFLT). It will announce its Dec 2022 financial results. The company is expected to report earnings of -$0.15 per share from revenues of $164.08M in the three-month period.
Analysts expect Franklin Resources Inc. (NYSE: BEN) to report a net income (adjusted) of $0.54 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2022 is predicted to come in at $1.86B.
AGNC Investment Corp. (AGNC), due to announce earnings after the market closes today, is expected to report earnings of $0.65 per share from revenues of $401.9M 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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