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6 June - ST - Morning Newsletter (with survey at top and bottom)
4 Stocks Rallying to Start the Week
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Good Morning!
The main US stock markets ended with a decline in the session on June 3, 2022. The S&P 500 corrected 1.63% to close at 4109. The Nasdaq and Dow Jones lost 2.47% and 1.05% respectively. 10 of the 11 S&P 500 sectors closed in negative territory. Only energy companies demonstrated positive dynamics (+1.4%). The outsiders were the sectors of cyclical consumer goods (-2.85%) and IT (-2.48%).Company news
Northrop Grumman Systems (NOC: +3.3%) received a new $249 million defense contract.
American Airlines Group (AAL: -7.1%) revised up its quarterly revenue guidance, but higher fuel prices and higher selling expenses disappointed investors.
Tesla (TSLA: -9.2%) shares dropped significantly after reports of the company's plans to cut headcount and the launch of an investigation into autonomous driving technology.
Elon Musk's Secret Project L.A.S.E.R.
After months of research, one legendary early stage investment expert has uncovered the complete story behind Elon Musk's secret L.A.S.E.R. project.
Today Top Movers
DiDi Global Inc. (DIDI) stock soared 52.97% to $2.83 in the pre-market trading after the Wall Street Journal reported that regulators are concluding investigations into the company.
Futu Holdings Limited (NASDAQ: FUTU) shares are trading up 7.7% at $39.7 at the time of writing. The company reported solid performance for the quarter ended March 31, 2022, with US$209.5 million in total revenues, and US$79.4 million non-GAAP adjusted net income.
Hut 8 Mining Corp. (HUT) grew over 6.06% at $2.45 in pre-market trading today. The company advanced its Bitcoin holdings in the period ending May 31 and began operations at its North Bay site on June 2.
Curis Inc. (CRIS), a Biotechnology company, rose about 25.53% at $1.18 in pre-market trading Monday. The company recently announced the presentation of encouraging clinical data from both the TakeAim Lymphoma and TakeAim Leukemia studies at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting.
Weirdest Under $2 Stock (Perfect for Markets Like This)
This strange under $2 stock could be the ONLY safe bet in markets like these.
But it's largely IGNORED by Wall Street.
Last year it made more income than Disney, Tesla or Square...
Yet Disney and Square are both 35X more expensive than this stock. And Tesla is 84X more expensive.
If you act now (before a key announcement in August)...
Top Upgrades & Downgrades
RBC Capital turned bullish on ResMed Inc. (RMD), upgrading the stock to Outperform and assigning a $244.00 price target, representing potential upside of 17.19% from Friday's close.
Lululemon Athletica Inc. (LULU) has won the favor of Bernstein's equity research team. The firm upgraded the shares from Underperform to Market Perform and moved their price target to $300.00.
Aurora Cannabis Inc. (ACB) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $1.21. They changed their rating on ACB to Hold from Sell in a recently issued research note.
Earlier Monday RBC Capital reduced its rating on Dun & Bradstreet Holdings Inc. (DNB) stock to Sector Perform from Outperform and assigned the price target to $18.00.
B. Riley Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for L.B. Foster Company (FSTR) has been changed to Neutral from Buy and the new price target is set at $14.00.
Analysts at Raymon James downgraded Bristol-Myers Squibb Company (BMY)'s stock to Market Perform from Outperform Monday.
The #1 Electric Vehicle Stock of the Decade
He's been called one of America's top tech futurists. He predicted the electric vehicle boom back in 2017 and recommended NIO Workhourse and Tesla before they each soared over 1,000%... Today, Luke Lango, one of America's Top Tech Futurists, is stepping forward with what he says is his biggest and possibly most controversial forecast of his career.
Latest Insider Activity
Tesla Inc. (TSLA) Director DENHOLM ROBYN M announced the sale of shares taking place on Jun 01 at $757.33 for some 25,000 shares. The total came to more than $18.93 million.
Occidental Petroleum Corporation (OXY) VP, CAO and Controller Champion Christopher O sold on Jun 01 a total 111,594 shares at $70.44 on average. The insider’s sale generated proceeds of almost $7.86 million.
Carvana Co. (CVNA) See Remarks BREAUX PAUL W. declared the purchase of shares taking place on Jun 02 at $26.24 for some 15,000 shares. The transaction amount was around $0.39 million.
Consolidated Edison Inc. (ED) Chairman, President & CEO Cawley Timothy bought on Jun 01 a total 80 shares at $99.33 on average. The purchase cost the insider an estimated $7,946.
Former Goldman Sachs Alum Sounds Alarm on "Next US Crisis"
Few believed Nomi Prins when she called the 2008 meltdown well in advance. Now, she's issuing a new prediction. Most Americans aren't yet prepared.
Important Earnings
Top US earnings releases scheduled for today include Boqii Holding Limited (NYSE:BQ). It will announce its Mar 2022 financial results. The company is expected to report earnings of -$0.06 per share from revenues of $39.46M in the three-month period.
Analysts expect Science Applications International Corporation (NYSE:SAIC) to report a net income (adjusted) of $1.77 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2022 is predicted to come in at $1.93B.
SRAX Inc. (SRAX), due to announce earnings before the market opens today, is expected to report earnings of $2.56 per share from revenues of $10.17M 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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