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- Apr 26 - NH - Morning Newsletter (with survey at top and bottom)
Apr 26 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Market Watch: 4 Stocks to Keep an Eye On
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Good Morning!Exciting news from Wall Street! Big Tech is at it again, with Alphabet and Microsoft leading the way as their earnings reports begin to roll out. And it seems like it's going to be a good day for the U.S. stock market, with Dow Jones Industrial Average futures up 15 points, S&P 500 futures adding 0.4%, and Nasdaq-100 futures soaring by 1.2%.Microsoft didn't disappoint, beating Wall Street's expectations on both the top and bottom lines in their latest quarter. The Intelligent Cloud business segment also showed significant revenue growth, causing shares to rise by 7% in the premarket. Google-parent Alphabet also posted better-than-expected revenue and even reported a profit in its cloud business for the first time, causing its shares to gain 1%.The excitement doesn't end there, with Boeing, Hilton Worldwide, and Spirit Airlines all set to release their earnings results before the bell today. And after the close, Meta Platforms, eBay, and Mattel are scheduled to report as well.But traders are coming off a tough session, with the Dow dropping by about 344 points on Tuesday. The S&P 500 also finished 1.6% lower, while the Nasdaq Composite fell by nearly 2%.Investors are keeping a close eye on durable goods and mortgage purchase data this morning, eager to receive the latest GDP update on Thursday and the Personal Consumption Expenditures Price Index, which is the Fed’s preferred inflation gauge, on Friday. Stay tuned for more updates!
Five Top Tech Stocks to Own Now
Warren Buffett says that a "climate of fear is your friend when investing; a euphoric world is your enemy."
"The time to buy is when there's blood in the streets, even if the blood is your own."
With a good deal of fear priced into the tech sector, here are five hot stocks to consider.
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Today Top Movers
IN8bio Inc. (INAB) stock soared 28.27% to $2.45 in the pre-market trading. The company received FDA Orphan Drug Designation for INB-400/410 for the treatment of Newly Diagnosed Glioblastoma.
PacWest Bancorp (NASDAQ: PACW) shares are trading up 19.79% at $12.35 at the time of writing following the release of its results for the Q1 2023.
SOBR Safe Inc. (SOBR) grew over 24.26% at $2.1 in pre-market trading today after announcing that it has partnered with Think Twice to advocate SOBRsafe's technology to enterprise employers across key commercial markets.
Yellow Corporation (YELL), a Trucking company, rose about 1.49% at $2.04 in pre-market trading Wednesday after reporting that it has appointed David H. Webber to its Board of Directors, effective April 20, 2023.
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Top Upgrades & Downgrades
Needham turned bullish on TransUnion (TRU), upgrading the stock to Buy and assigning a $84 price target, representing a potential upside of 33.17% from Tuesday's close.
Albertsons Companies Inc. (ACI) has won the favor of Tigress Financial's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $27, suggesting a 28.82% additional upside for the stock.
United Parcel Service Inc. (UPS) received an upgrade from analysts at Wolfe Research. In a recently issued research note, they changed their rating on UPS to Peer Perform from Underperform.
Earlier Wednesday Jefferies reduced its rating on Tesla Inc. (TSLA) stock to Hold from Buy and assigned the price target to $185.
Barclays analysts reduced their investment ratings, saying in research reports covered by the media that it's rating for The Scotts Miracle-Gro Company (SMG) has been changed to Equal-Weight from Overweight and the new price target is set at $70.
Analysts at Keybanc downgraded NextEra Energy Partners LP (NEP)'s stock to Sector Weight from Overweight Wednesday.
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.
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Latest Insider Activity
DraftKings Inc. (DKNG) See Remarks Robins Jason announced the sale of shares taking place on Apr 21 at $21.72 for some 200,000 shares. The total came to more than $4.34 million.
The Walt Disney Company (DIS) EVP, Control, Fin Plan & Tax WOODFORD BRENT sold on Apr 25 a total of 1,145 shares at $99.16 on average. The insider’s sale generated proceeds of almost $0.11 million.
Ault Alliance Inc. (AULT) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on Apr 24 at $0.10 for some 240,000 shares. The transaction amount was around $24264.0.
The PNC Financial Services Group Inc. (PNC) Director ALVARADO JOSEPH bought on Apr 21 a total of 1,000 shares at $123.89 on average. The purchase cost the insider an estimated $123,895.
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Important Earnings
Top US earnings releases scheduled for today include The Boeing Company (NYSE:BA). It will announce its Mar 2023 financial results. The company is expected to report earnings of -$1.07 per share from revenues of $17.57B in the three-month period.
Analysts expect American Tower Corporation (NYSE: AMT) to report a net income (adjusted) of $1.09 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $2.74B.
Meta Platforms Inc. (META), due to announce earnings after the market closes today, is expected to report earnings of $2.03 per share from revenues of $27.65B 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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