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4 Apr - ST - Morning Newsletter (with survey at top and bottom)
4 Stocks Breaking Out to Start the Week
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Good Morning!
The session on April 1, the main US stock markets ended in the green zone. The S&P 500 rose 0.34% to 4,546 points, the Dow Jones rose 0.4% and the Nasdaq added 0.29%. Most of the sectors included in the S&P 500 showed positive dynamics. The growth leaders were the shares of companies from the sectors of real estate (+2.02%) and utilities (+1.45%). Only the industrial sector showed a slight decrease (-0.7%).Company news
nCino (NCNO: +13.7%) posted a better-than-expected fourth quarter, with the company's guidance for 2023 above consensus. There is an expansion of cooperation with major customers.
NIO (NIO: +4.2%) and other electric vehicle makers released strong March shipment data.
BlackBerry (BB: -9.5%) posted better-than-expected quarterly results. At the same time, its forecast for the IoT segment for 2023 falls short of the general market forecasts. In addition, proceeds from the sale of patents were below consensus.
It's obvious, that pharma supply chain companies are raking it in. Specifically, this one that recently up-listed to NASDAQ. They have an extensive global network of over 160 clients and vendors that have helped them see revenue growth of about 40% and jaw-dropping gross profit growth of nearly 120%. With 3 strong subsidiaries and an industry-leading management team, they could see even more $$$.
Today Top Movers
Futu Holdings Limited (FUTU) stock soared 7.25% to $37.11 in pre-market trading after announcing that it had accumulated over 18 million users from more than 200 countries and regions with its sister brand.
SPI Energy Co. Ltd. (NASDAQ: SPI) shares are trading up 27.46% at $3.62 at the time of writing. The company declared a record revenue of $162 million for 2021.
NIO Inc. (NIO) grew over 6.7% at $23.4 in pre-market trading today after that the company delivered 9,985 vehicles in March 2022, representing an increase of 37.6% year-over-year.
Twitter Inc. (TWTR), a Internet Content & Information company, rose about 26.35% at $49.67 in pre-market trading Monday as Tesla CEO Elon Musk revealed 'Passive' 9.2% Stake.
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Top Upgrades & Downgrades
JP Morgan turned bullish on Zebra Technologies Corporation (ZBRA), upgrading the stock to "Overweight" and assigning a $500.00 price target, representing potential upside of 20.85% from Friday's close.
NIO Inc. (NIO) has won the favor of UBS' equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $32.00, suggesting 45.85% additional upside for the stock.
Ollie's Bargain Outlet Holdings Inc. (OLLI) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $65.00. They changed their rating on OLLI to Overweight from Equal-Weight in a recently issued research note.
Earlier Monday Goldman Sachs reduced its rating on Baxter International Inc. (BAX) stock to Sell from Neutral and assigned the price target to $77.00.
Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Hercules Capital Inc. (HTGC) has been changed to Neutral from Overweight and the new price target is set at $19.00.
Analysts at Evercore ISI Group downgraded Hologic Inc. (HOLX)'s stock to In-Line from Outperform Monday.
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Latest Insider Activity
HP Inc. (HPQ) President and CEO LORES ENRIQUE announced the sale of shares taking place on Apr 01 at $36.27 for some 34,000 shares. The total came to more than $1.23 million.
Zosano Pharma Corporation (ZSAN) Chief Financial Officer Matthews Christine sold on Mar 31 a total 146,425 shares at $0.21 on average. The insider’s sale generated proceeds of almost $1705.0.
Occidental Petroleum Corporation (OXY) President and CEO Hollub Vicki A. declared the purchase of shares taking place on Mar 28 at $56.24 for some 14,191 shares. The transaction amount was around $0.8 million.
Barnes & Noble Education Inc. (BNED) Director LEVENICK ZACHARY bought on Mar 28 a total 613,045 shares at $3.63 on average. The purchase cost the insider an estimated $108,900.
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Important Earnings
Top Upcoming US earnings releases scheduled include Supernus Pharmaceuticals Inc. (NASDAQ:SUPN). It will announce its Dec 2021 financial results. The company is expected to report earnings of $0.24 per share from revenues of $152.71M in the three-month period.
Analysts expect SRAX Inc. (NASDAQ:SRAX) to report a net income (adjusted) of $2.56 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2021 is predicted to come in at $10.17M.
Cognyte Software Ltd. (CGNT), due to announce earnings before the market closes tomorrow, is expected to report earnings of $0.22 per share from revenues of $129.55M in the 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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