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- 31 Aug - ST - Morning Newsletter (with survey at top and bottom)
31 Aug - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks Breaking Out Today
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Good Morning!
Following Wall Street's losing streak into its third day, stock futures were fractionally higher early Wednesday.As a result of Chewy's weak revenue guidance, shares of the pet products retailer fell by more than 11% in extended trading. In the wake of HP Inc's missed revenue estimates, its stock price dropped.There was a 61-point gain, or 0.19 percent, in Dow Jones Industrial Average futures. Nasdaq 100 futures rose 0.34%, while the S&P 500 gained 0.19%.The stock market has been stung by heavy losses since Friday as a result of Jerome Powell's hawkish comments. John Williams, the president of the New York Fed, has most recently called for "somewhat restrictive policies to slow demand."In Tuesday's session, the Dow Jones Industrial Average declined 308.12 points, or nearly 1%, to 31,790.87. The Nasdaq Composite dropped 1.1%, to 11,883.14. For the first time since July, the S&P 500 slipped below 4,000 for the first time. There was a strong possibility of all major averages finishing August in the red.In terms of year-to-date gains, the energy and utilities sectors were the only sectors in green as of Tuesday's close.
Free Report: Top 5 Gold Stocks for a Bear Market
There's still plenty of upside ahead for gold stocks.
Goldman Sachs says gold could run to $2,500 by the end of the year-especially with fears of a potential recession. And, according to Jeff Currie, Goldman Sachs global head of commodities research, as quoted by Bloomberg, "It's a perfect storm for gold right now."
So, where should we invest? Try these.
Today Top Movers
Cepton Inc. (CPTN) stock soared 20.23% to $2.08 in the pre-market trading after announcing that it has received a non-binding Letter of Intent dated August 29, 2022 for an investment of up to $100 million from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd.
Sorrento Therapeutics Inc. (NASDAQ: SRNE) shares are trading up 8.76% at $2.11 at the time of writing. The company recently declared that FDA has granted fast track designation for its investigational drug and device product candidate.
BioCardia, Inc. (BCDA) surged over 6.34% at $2.18 in pre-market trading today after announcing positive DSMB review and recommendation to continue Phase III Pivotal CardiAMP cell therapy heart failure trial.
Software Acquisition Group Inc. III (NOGN) is up 90.75 to $6.39 in pre-market trading today after Software Acquisition Group Inc. III (SWAG) announced the completion of its business combination with Nogin.
Sub-$0.30 Stock Adds Huge Lithium Asset to Fuel Electric Car Market
The Electric Vehicle boom is here. We could see over 300 million EVs on the road by the end of the next decade. And individual investors – just like you – are cashing-in. The Smart Money is going straight to the source by investing in under-the-radar lithium mining stocks like this one: Developing one of the only lithium projects on US soil and currently trading below US$0.30 per share.
Top Upgrades & Downgrades
BofA turned bullish on PayPal Holdings Inc. (PYPL), upgrading the stock to "Buy" and assigning a $114.00 price target, representing potential upside of 24.18% from Tuesday's close.
Rocket Lab USA Inc. (RKLB) has won the favor of Cowen & Co.'s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $8.00, suggesting 55.94% additional upside for the stock.
Cisco Systems Inc. (CSCO) received an upgrade from analysts at KGI Securities, who also set their one-year price target on the stock to $53.00. They changed their rating on CSCO to Outperform from Neutral in a recently issued research note.
Earlier Wednesday Susquehanna reduced its rating on Paysafe Limited (PSFE) stock to Neutral from Positive and assigned the price target to $2.00.
Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Robinhood Markets Inc. (HOOD) has been changed to Underweight from Equal Weight and the new price target is set at $10.00.
Analysts at Citi downgraded Snap Inc. (SNAP)'s stock to Neutral from Buy Wednesday.
Own $1 Billion in Silver for Less Than $1 Per Share
With silver prices booming, smart investors are positioning for 10-fold gains by investing in best-of-class silver miners. Keep reading to see how this tiny, under-the-radar company, you can own today well below a buck a share, is sitting on more than one billion dollars in high-grade silver all within the safe and friendly confines of North America.
Latest Insider Activity
Snowflake Inc. (SNOW) Director Briggs Teresa announced the sale of shares taking place on Aug 26 at $196.92 for some 2,000 shares. The total came to more than $0.39 million.
Chevron Corporation (CVX) Executive Vice President JOHNSON JAMES WILLIAM sold on Aug 25 a total 85,300 shares at $164.01 on average. The insider’s sale generated proceeds of almost $13.99 million.
Freeport-McMoRan Inc. (FCX) Director Lance Ryan Michael declared the purchase of shares taking place on Aug 29 at $31.88 for some 31,000 shares. The transaction amount was around $0.99 million.
Keurig Dr Pepper Inc. (KDP) Chief Supply Chain Officer Milikin Maurice Anthony bought on Aug 29 a total 12,979 shares at $38.79 on average. The purchase cost the insider an estimated $503,455.
Individual investors are making an absolute killing on select gold stocks in 2H '22. But what's the safest and smartest way to invest? Here's an under-the-radar Canadian gold company that's amassed over 30 million ounces of the yellow metal...worth Tens of $Billions...trading at an insanely low US$1 per share.
Important Earnings
Top US earnings releases scheduled for today include Chico's FAS Inc. (NYSE: CHS). It will announce its Jul 2022 financial results. The company is expected to report earnings of $0.25 per share from revenues of $543.9M in the three-month period.
Analysts expect Express Inc. (NYSE: EXPR) to report a net income (adjusted) of $0.09 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2022 is predicted to come in at $479.62M.
Designer Brands Inc. (DBI), due to announce earnings before the market opens today, is expected to report earnings of $0.52 per share from revenues of $838.69M 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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