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- Aug - 03 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 03 - NH - Morning Newsletter (with survey at top and bottom)
Awakening Potential: 4 Stock Opportunities You Don't Want to Miss
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Good Morning!
Good day, fellow traders! The market's excitement continues as we grapple with the impact of Fitch's recent downgrade of the United States' long-term rating. With traders also digesting the latest round of quarterly results, it's a day filled with anticipation and surprises!Let's dive into the numbers: S&P 500 futures are taking a slight dip of 0.3%, while Nasdaq 100 futures are following suit, dropping 0.4%. The Dow Jones Industrial Average futures aren't far behind, sliding 95 points or 0.3%. It's a balancing act as we navigate through the market's fluctuations.In the spotlight today are some big players. Chipmaker Qualcomm faced a slight setback, slipping 8% after missing analysts' expectations on fiscal third-quarter revenue and guidance for the current period. On the other hand, DoorDash is celebrating a win, adding 3.6% after beating expectations on revenue. Ups and downs are part of the game, and we're here to ride the waves!The anticipation is palpable as we eagerly await the reports from tech bellwether Apple and e-commerce giant Amazon, scheduled to reveal their numbers after the closing bell. So far, nearly 67% of S&P 500 companies have released their latest quarterly reports, with an impressive 81% of those companies beating expectations, according to FactSet. The market is brimming with positive surprises, fueling the bullish sentiment.But let's talk about yesterday's roller-coaster ride. The stocks experienced a sell-off, with the tech-heavy Nasdaq Composite taking the lead with a more than 2% drop. It was the index's worst day since February, as tech stocks faced headwinds amid a spike in bond yields. Not to be left out, both the S&P 500 and Dow Jones Industrial Average also closed lower. The markets are full of twists and turns, and we're here to tackle the challenges together!On the economic front, we've got some exciting data coming our way. Keep an eye out for weekly initial jobless claims and durable goods orders. However, the main event that's got everyone's attention is Friday's July payroll report. Get ready for an action-packed week!
Our Top 4 "Cheap Stocks" for the Rest of 2023
The stock market has had a fantastic first half of 2023, with historic gains for the Nasdaq in particular.
And our analysts have uncovered 4 "cheap stocks" that could benefit from bullish conditions heading into the back half of the year.
A small move in share price can go a long way with these four.
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Today Top Movers
Adamis Pharmaceuticals Corporation (ADMP) stock soared 53.38% to $2.04 in the pre-market trading after announcing pricing of $8.0 million public offering.
Fangdd Network Group Ltd. (NASDAQ: DUO) shares are trading up 32.34% at $0.2435 at the time of writing following the filing of 6-K form with the SEC.
Upwork Inc. (UPWK) grew over 17.85% at $11.75 in pre-market trading today. The company reported second quarter 2023 financial results.
Traeger Inc. (COOK), a Furnishings Fixtures & Appliances company, rose about 26.7% at $5.22 in pre-market trading Thursday after announcing second quarter fiscal 2023 results.
A 10,000% Dividend?!?
This is easily the #1 Oil Play for 2023 and beyond.
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Top Upgrades & Downgrades
Exane BNP Paribas turned bullish on Qorvo Inc. (QRVO), upgrading the stock to "Outperform" and assigning a $135 price target, representing potential upside of 27.23% from Wednesday's close.
Hayward Holdings Inc. (HAYW) has won the favor of Stifel's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $16.5, suggesting 18.79% additional upside for the stock.
Traeger Inc. (COOK) received an upgrade from analysts at Telsey Advisory Group, who also set their one-year price target on the stock to $6.5. They changed their rating on COOK to Outperform from Market Perform in a recently issued research note.
Earlier Thursday Loop Capital reduced its rating on Procore Technologies Inc. (PCOR) stock to Hold from Buy and assigned the price target to $75.
B. Riley Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Extreme Networks Inc. (EXTR) has been changed to Neutral from Buy and the new price target is set at $30.
Analysts at Deutsche Bank downgraded QUALCOMM Incorporated (QCOM)'s stock to Hold from Buy Thursday.
Summer 2023: Immediate Buy Alert
America's #1 Investor according to Tip Ranks earned his title in 2020 after making 19 recommendations with 500%+ gains (soaring as high as 1638%!)
A new window of opportunity for triple digit gains in 2023 has officially arrived.
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Latest Insider Activity
Microsoft Corporation (MSFT) Vice Chair and President SMITH BRADFORD L announced the sale of shares taking place on Aug 01 at $337.20 for some 50,000 shares. The total came to more than $16.86 million.
C3.ai Inc. (AI) Director LEVIN RICHARD C sold on Jul 31 a total 12,000 shares at $42.00 on average. The insider’s sale generated proceeds of almost $0.5 million.
Intel Corporation (INTC) CEO GELSINGER PATRICK P declared the purchase of shares taking place on Jul 31 at $35.87 for some 3,250 shares. The transaction amount was around $0.12 million.
Exxon Mobil Corporation (XOM) Director UBBEN JEFFREY W bought on Jul 31 a total 458,000 shares at $106.93 on average. The purchase cost the insider an estimated $48.97 million.
Five Top Summer Stocks to Buy and Hold Now
With the official start to summer here, there's still time to load up on warmer-weather stocks. That includes your travel stocks, weight loss stocks, oil stocks, and even hurricane-related stocks, with storm-season kicking into high gear, too.
In fact, here are five with a history of moving every summer. Enjoy.
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Important Earnings
Top US earnings releases scheduled for today include Amazon.com Inc. (NASDAQ:AMZN). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.32 per share from revenues of $119.57B in the three-month period.
Analysts expect Apple Inc. (NASDAQ:AAPL) to report a net income (adjusted) of $1.19 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $81.64B.
Amgen Inc. (AMGN), due to announce earnings after the market closes today, is expected to report earnings of $4.49 per share from revenues of $6.68B 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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