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- Apr 24 - NH - Morning Newsletter (with survey at top and bottom)
Apr 24 - NH - Morning Newsletter (with survey at top and bottom)
4 Hot Stocks to Watch Today!
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Good Morning!Stock futures fell on Monday as investors awaited a slew of corporate earnings from big tech companies, as well as fresh economic data releases. Dow Jones Industrial Average futures fell by 89 points, or 0.3%. S&P 500 and Nasdaq-100 futures dipped 0.3% and 0.4%, respectively. The major indexes all fell last week as the earnings season began to ramp up, with several prominent banking names posting their quarterly results for the first time since the bank failures in March. The Dow dropped 0.23% and ended a four-week winning streak. The Nasdaq declined 0.42%, while the S&P edged down 0.1%.Roughly 76% of S&P 500 companies that have reported earnings through Friday beat analyst earnings estimates, according to FactSet data. However, first-quarter earnings for S&P 500 companies are estimated to decline an overall 5.2%, per Refinitiv. Wall Street is looking ahead toward mega-cap tech earnings results this week in what will mark the halfway point of earnings season. Alphabet, Microsoft, Amazon and Meta are among the high-interest names scheduled to announce their results for the first quarter.
Will These 5 Stocks Explode?
Sudden spikes in share price can come from any number of sources, including positive news from the company or rumors of a potentially lucrative buyout by a larger company. But our analysts say these 5 Microcap Stocks are poised to soar after their Q2 earnings announcement.
Today Top Movers
Koninklijke Philips N.V. (PHG) stock soared 11.35% to $21.19 in the pre-market trading. The company deliverd solid operational performance as supply chain improves and actions to enhance execution start to take effect.
NextPlat Corp (NASDAQ: NXPL) shares are trading up 34.23% at $3.49 at the time of writing. NextPlat and Alibaba Group Holding Limited recently declared that they have entered into a merchant sourcing agreement whereby the two companies will collaborate to increase the sale of products produced and sold by American companies to the multi-trillion-dollar Chinese consumer market.
Steakholder Foods Ltd. (STKH) grew over 12.59% at $0.9005 in pre-market trading today after SEC filing declaration.
Phio Pharmaceuticals Corp. (PHIO), a Biotechnology company, jumped about 14.29% at $4.40 in pre-market trading Monday following the 8-K filing with SEC.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on Medtronic plc (MDT), upgrading the stock to Overweight and assigning a $100 price target, representing potential upside of 16.66% from Friday's close.
PPG Industries Inc. (PPG) 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 $156, suggesting 9.84% additional upside for the stock.
Clearwater Paper Corporation (CLW) received an upgrade from analysts at RBC Capital, who also set their one-year price target on the stock to $42. They changed their rating on CLW to Outperform from Sector Perform in a recently issued research note.
Earlier Monday Truist Securities reduced its rating on Regions Financial Corporation (RF) stock to Hold from Buy and assigned the price target to $20.
Wolfe Research analysts reduced their investment ratings, saying in research reports covered by the media that its rating for C3.ai Inc. (AI) has been changed to Underperform from Peer Perform and the new price target is set at $14.
Analysts at JP Morgan downgraded Arbor Realty Trust Inc. (ABR)'s stock to Neutral from Overweight Monday.
With Tin Demand On The Rise, This Company Is Poised For Growth
Tin is the forgotten energy transformation metal! Have you made your investment yet? This tin company has a quality asset portfolio, is building a significant position, they're in a fantastic location with access to capital. Plus, a surprise discovery has definitely made this is a company to watch.
Latest Insider Activity
Amazon.com Inc. (AMZN) CEO Amazon Web Services Selipsky Adam announced the sale of shares taking place on Apr 20 at $104.18 for some 500 shares. The total came to more than $52088.0.
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer sold on Apr 18 a total 393 shares at $219.94 on average. The insider’s sale generated proceeds of almost $86436.0.
Ault Alliance Inc. (AULT) 10% Owner Ault Alliance, Inc. declared the purchase of shares taking place on Apr 19 at $1.68 for some 300 shares. The transaction amount was around $504.0.
Lockheed Martin Corporation (LMT) Director Donovan John bought on Apr 19 a total 506 shares at $495.17 on average. The purchase cost the insider an estimated $250,556.
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Important Earnings
Canadian National Railway Company (NYSE: CNI)
. It will announce its Mar 2023 financial results. The company is expected to report earnings of $1.26 per share from revenues of $3.11B in the three-month period.
Analysts expect Cadence Design Systems Inc. (NASDAQ: CDNS) to report a net income (adjusted) of $1.25 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $1.01B.
Brown & Brown Inc. (BRO), due to announce earnings after the market closes today, is expected to report earnings of $0.82 per share from revenues of $1.07B 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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