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7 Apr - ST - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Trade Today
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Good Morning!
The trading session on April 6 ended with a decline in major US stock indices. The S&P 500 corrected 0.97% to 4481 points, the Nasdaq shed 2.22% and the Dow Jones shed 0.42%. The sectors of utilities (+2.00%), healthcare (+1.55%) and real estate (+1.55%) looked better than the market. The outsiders were manufacturers of cyclical consumer goods (-2.63%) and IT companies (-2.55%).Company news
Gogo Inc. (GOGO: +7.61%) announced that it will be listed on the S&P SmallCap 600 index before the open on April 8.
Financial results of Levi Strauss & Co. (LEVI: -1.52%) for the first quarter of 2022 exceeded market expectations. Higher prices and double-digit sales growth offset the impact of supply disruptions, inventory shortages and inflationary pressures.
SoFi Technologies (SOFI: -4.06%) lowered its 2022 guidance as the U.S. extended its moratorium on federal student loan repayments and accruals until the end of August as an economic support measure. This type of loans provides a significant share of the company's revenue.
This Undervalued Stock Could Jump Five-Fold
Cannabis may be one of the hottest stories of 2022. Not only did the House just pass legislation for federal legalization, but sales have been explosive. In 2021, global sales hit $37.4 billion. By 2026, sales could be as high as $102 billion. And yet, despite all of this positive news, related stocks are down. Think about it. Sales up, revenues up, growth flourishing - stock prices down?
Today Top Movers
HP Inc. (HPQ) stock soared 14.92% to $40.12 in the pre-market trading on the news that Buffett's Berkshire has purchased nearly 121 million shares of HP Inc.
HTG Molecular Diagnostics Inc. (NASDAQ: HTGM) shares are trading up 43.75% at $1.84 at the time of writing after declaring that it has improved the sample preparation protocol for its miRNA Whole Transcriptome Assay (miRNA WTA).
ERYTECH Pharma S.A. (ERYP) grew over 38.85% at $2.18 in pre-market trading today. The company reported publication of positive results from Eryaspase phase 2 trial in Hypersensitive ALL in the British Journal of Haematology.
SemiLEDs Corporation (LEDS)
, a Semiconductors company, rose about 21.54% at $3.95 in pre-market trading Thursday. LEDS reported that revenue for the second quarter of fiscal 2022 increased to $2.2 million, compared to $1.5 million in the first quarter of fiscal 2022.
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Top Upgrades & Downgrades
Evercore ISI Group turned bullish on Coupa Software Incorporated (COUP), upgrading the stock to Outperform and assigning a $140.00 price target, representing potential upside of 36.88% from Wednesday's close.
Aerojet Rocketdyne Holdings Inc. (AJRD) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $49.00, suggesting 22.29% additional upside for the stock.
Zeta Global Holdings Corp. (ZETA) received an upgrade from analysts at Oppenheimer, who also set their one-year price target on the stock to $20.00. They changed their rating on ZETA to Outperform from Perform in a recently issued research note.
Earlier Thursday Barclays reduced its rating on Ford Motor Company (F) stock to Equal-Weight from Overweight and assigned the price target to $17.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Rayonier Advanced Materials Inc. (RYAM) has been changed to Sector Perform from Outperform and the new price target is set at $6.00.
Analysts at Piper Sandler downgraded Washington Trust Bancorp Inc. (WASH)'s stock to Neutral from Overweight Thursday.
#1 Gold Royalty Stock in New Gold Bull Market Revealed
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Latest Insider Activity
Verizon Communications Inc. (VZ) EVP&ChiefAdminLegal&PubPolOff Silliman Craig L. announced the sale of shares taking place on Apr 04 at $52.00 for some 1,558 shares. The total came to more than $81016.0.
Block Inc. (SQ) Cash App Lead Grassadonia Brian sold on Apr 05 a total 5,627 shares at $145.00 on average. The insider’s sale generated proceeds of almost $815,915.
Rocket Companies Inc. (RKT) Chief Executive Officer Farner Jay declared the purchase of shares taking place on Apr 06 at $10.24 for some 19,500 shares. The transaction amount was around $199,680.
Alight Inc. (ALIT) Director Massey Richard N bought on Apr 01 a total 10,000 shares at $9.54 on average. The purchase cost the insider an estimated $95,389.
5 Megatrend Stocks for 2022
These 5 stocks offer the potential to deliver significant returns in the months ahead thanks to key megatrends... They are well-positioned to deliver a high upside to investors over the next 12 to 18 months. Don't miss out on your chance to get in early.
Important Earnings
Top US earnings releases scheduled for today include Conagra Brands Inc. (NYSE:CAG). It will announce its Feb 2022 financial results. The company is expected to report earnings of $0.58 per share from revenues of $2.84B in the three-month period.
Analysts expect Lamb Weston Holdings Inc. (NYSE: LW) to report a net income of $0.44 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2022 is predicted to come in at $968.52M.
Constellation Brands Inc. (STZ), due to announce earnings before the market opens today, is expected to report earnings of $2.1 per share from revenues of $2.02B 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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