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- 30 June - NH - Morning Newsletter (with survey at top and bottom)
30 June - NH - Morning Newsletter (with survey at top and bottom)
4 Stocks Taking off in Today's Premarket
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Good Morning!
US stock market benchmarks closed in different directions during trade on June 29. The S&P 500 shed 0.07% to close at 3819, the Nasdaq lost 0.03% and the Dow Jones gained 0.27%. Issuers from the healthcare sector (+0.87%) and discretionary consumer goods (+0.49%) showed positive dynamics. Energy companies (-3.43%) and representatives of the real estate industry (-0.76%) looked worse than the market. Company news
Tesla Inc. (TSLA: -1.79%) closes one of its California offices and lays off 200 employees as part of a cost-cutting strategy, according to the Wall Street Journal.
FedEx Corp. (FDX: -2.62%) released a revised guidance ahead of the investor meeting. The new targets for fiscal 2025 are to increase total annual revenue and adjusted EPS by 4-6% and 14-19%, respectively.
Bed Bath & Beyond Inc. (BBBY: -23.58%) posted an adjusted quarterly loss that was larger than consensus and fell short of revenue expectations. Amid weak 1Q results, the company announced the resignation of its CEO, which could be a positive signal for investors.
Forbes mag says this strategy "like finding money in the street"
And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday.
Today Top Movers
Aspen Aerogels Inc. (ASPN) stock soared 51.96% to $12.81 in the pre-market trading after announcing its decision not to proceed with concurrent public offerings of common stock and green convertible senior notes due 2027.
Adagene Inc. (NASDAQ: ADAG) shares are trading up 7.4% at $2.25 at the time of writing. The company recently declared authorization of share repurchase program up to US$10 million.
MillerKnoll Inc. (MLKN) grew over 5.0% at $29.4 in pre-market trading today after releasing fourth quarter fiscal 2022 results.
374Water, Inc. (SCWO) surged 34.75% to $3.80 in pre-market today. The company will visit the Nasdaq MarketSite in Times Square on Friday, July 1, 2022 to ring the Opening Bell.
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Top Upgrades & Downgrades
Credit Suisse turned bullish on Brookfield Infrastructure Partners L.P. (BIP), upgrading the stock to "Outperform" and assigning a $49.5 price target, representing potential upside of 33.71% from Wednesday's close.
YPF Sociedad Anonima (YPF) has won the favor of UBS' equity research team. The firm upgraded the shares from Sell to Neutral.
Banco Santander-Chile (BSAC) received an upgrade from analysts at UBS. They changed their rating on BSAC to Neutral from Sell in a recently issued research note.
Earlier Thursday Stifel reduced its rating on Angion Biomedica Corp. (ANGN) stock to Hold from Buy and assigned the price target to $1.5.
William Blair analysts reduced their investment ratings, saying in research reports covered by the media that its rating for MSC Industrial Direct Co. Inc. (MSM) has been changed to Market Perform from Outperform.
Analysts at Exane BNP Paribas downgraded SAP SE (SAP)'s stock to Neutral from Outperform Thursday.
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
Palantir Technologies Inc. (PLTR) See Remarks Taylor Ryan D. announced the sale of shares taking place on Jun 24 at $10.11 for some 77,607 shares. The total came to more than $0.78 million.
Tesla Inc. (TSLA) SVP Powertrain and Energy Eng. Baglino Andrew D sold on Jun 27 a total 3,500 shares at $748.11 on average. The insider’s sale generated proceeds of almost $2.62 million.
SeaChange International Inc. (SEAC) 10% Owner SINGER KAREN declared the purchase of shares taking place on Jun 29 at $0.60 for some 98,262 shares. The transaction amount was around $58505.0.
Rocket Companies Inc. (RKT) Director Rizik Matthew bought on Jun 29 a total 2,900 shares at $7.22 on average. The purchase cost the insider an estimated $20,938.
Leaked tax return reveals secret to pocketing $460,164...
Official tax return reveals how one trader nabbed annual gains of 228%, 309% and 339%. His tax return was released online, exposing this simple trading technique used to pocket nearly half a million in profits.
Important Earnings
Top US earnings releases scheduled for today include Walgreens Boots Alliance Inc. (NASDAQ: WBA). It will announce its May 2022 financial results. The company is expected to report earnings of $0.92 per share from revenues of $32.06B in the three-month period.
Analysts expect Constellation Brands Inc. (NYSE: STZ) to report a net income (adjusted) of $2.52 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2022 is predicted to come in at $2.16B.
The Simply Good Foods Company (SMPL), due to announce earnings before the market opens today, is expected to report earnings of $0.35 per share from revenues of $294.11M 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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