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- 30 Sep - ST - Morning Newsletter (with survey at top and bottom)
30 Sep - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Trade Before the Weekend
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Good Morning!As traders attempted to recover from this week's aggressive selling that brought the S&P 500 to a new 2022 low, stock futures rose Friday.There was an increase of 0.6% in the S&P 500 futures. Futures for the Dow Jones Industrial Average rose 144 points, or 0.5%. Nasdaq 100 futures rose 0.5%.In a selloff on Thursday, the Dow lost more than 1%, while the S&P 500 and Nasdaq Composite each fell over 2% as investors considered the consequences of future rate hikes by the Federal Reserve.In addition to marking the end of the month, Friday also marked the end of the third quarter. Through Thursday's close, both the S&P 500 and Dow were down more than 7% for September. S&P 500 declines would be the biggest since June, and Dow performance would be the worst since March 2020. With a 9.1% loss, the Nasdaq is on track for its biggest monthly loss since April.
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Today Top Movers
SAI.TECH Global Corporation (SAI) stock soared 52.65% to $3.45 in the pre-market trading. The company recently announced the launch of new liquid cooling Bitcoin mining infrastructure products
Arrival (NASDAQ: ARVL) shares are trading up 24.38% at $0.9796 at the time of writing after announcing that it has produced the first production verification vehicle from its Bicester Microfactory.
Micron Technology Inc. (MU) grew over 2.6% at $51.31 in pre-market trading today on the news that the company will receive up to $320mn in Japanese government subsidies, marking the first of an expected series of deals to fortify supply chains against the disruptive threat from China.
GigaCloud Technology Inc (GCT), a Software - Infrastructure company, rose about 7.68% at $12.34 in pre-market trading Friday. The company released second quarter 2022 financial results.
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Top Upgrades & Downgrades
Jefferies turned bullish on Charles River Laboratories International Inc. (CRL), upgrading the stock to "Buy" and assigning a $240.00 price target, representing potential upside of 26.25% from Thursday's close.
Rithm Capital Corp. (RITM) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $9.00, suggesting 24.13% additional upside for the stock.
Cboe Global Markets Inc. (CBOE) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $126.00. They changed their rating on CBOE to Neutral from Sell in a recently issued research note.
Earlier Friday Wolfe Research reduced its rating on Century Aluminum Company (CENX) stock to Underperform from Peer Perform and assigned the price target to $4.00.
Keybanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Schneider National Inc. (SNDR) has been changed to Sector Weight from Overweight.
Analysts at Keybanc downgraded J.B. Hunt Transport Services Inc. (JBHT)'s stock to Sector Weight from Overweight Friday.
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Latest Insider Activity
QuantumScape Corporation (QS) Chief Development Officer Singh Mohit announced the sale of shares taking place on Sep 28 at $9.07 for some 8,500 shares. The total came to more than $77103.0.
Natera Inc. (NTRA) CEO AND PRESIDENT Chapman Steven Leonard sold on Sep 28 a total 2,606 shares at $44.04 on average. The insider’s sale generated proceeds of almost $114,766.
Ocular Therapeutix Inc. (OCUL) 10% Owner SUMMER ROAD LLC declared the purchase of shares taking place on Sep 29 at $4.04 for some 18,800 shares. The transaction amount was around $75988.0.
Coinbase Global Inc. (COIN) Director Lutke Tobias bought on Sep 27 a total 5,941 shares at $65.29 on average. The purchase cost the insider an estimated $387,888.
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Important Earnings
Top US earnings releases scheduled for today include Carnival Corporation & plc (NYSE: CCL). It will announce its Aug 2022 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $5.07B in the three-month period.
Analysts expect CIRCOR International Inc. (NYSE: CIR) to report a net income (adjusted) of $0.31 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $190.9M.
Nucor Corporation (NUE), due to announce earnings before the market opens Monday, is expected to report earnings of $6.85 per share from revenues of $10.19B 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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