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- Aug - 07 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 07 - NH - Morning Newsletter (with survey at top and bottom)
Morning Profits: 4 Stocks Primed for a Market Splash
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Good Morning!
U.S. stock index futures indicated a slightly higher open for Wall Street on Monday as investors are paying attention to the upcoming earnings reports of companies and the inflation data that will be released this week.Dow Jones futures advanced roughly 0.37 per cent. Futures contracts tracking Wall Street’s benchmark S&P 500 added 0.48 per cent, while those tracking the tech-focused Nasdaq 100 rose 0.65 per cent ahead of the New York open. The three major stock market indexes ended last week with losses. The Nasdaq Composite and the S&P 500 had their worst week since March 2023.The Consumer Price Index (CPI) will be released on Thursday, August 10. It is expected that the inflation rate will increase to 3.3% in July from 3% in June.The Producer Price Index (PPI) will be released on August 11. The Federal Reserve (Fed) closely monitors the CPI and PPI to understand the inflation situation in the country and to decide on its future monetary policy.
Free Report: Three of the Top NASDAQ Stocks to Buy Under $10
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Today Top Movers
AgriFORCE Growing Systems Ltd. (AGRI) stock soared 68.97% to $0.22 in the pre-market trading. The company recently provided an update on the qualification of its UN(THINK)™ Awakened Flour.
Missfresh Limited (NASDAQ: MF) shares are trading up 52.53% at $3.02 at the time of writing following the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2022 with the U.S. Securities and Exchange Commission.
Nikola Corporation (NKLA) grew over 8.8% at $2.72 in pre-market trading today after reporting financial results for the quarter ended June 30, 2023.
BYND Cannasoft Enterprises Inc. (BCAN), a Software - Infrastructure company, rose about 18.75% at $1.71 in pre-market trading Monday after announcing that Yftah Ben Yaackov, Chief Executive Officer and Director, shared a comprehensive update on the Company's progress, highlighting significant recent milestones and unveiling promising prospects for the future.
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Top Upgrades & Downgrades
Canaccord Genuity turned bullish on Q2 Holdings Inc. (QTWO), upgrading the stock to "Buy" and assigning a $40 price target, representing potential upside of 21.91% from Friday's close.
United Airlines Holdings Inc. (UAL) has won the favor of Redburn Partners' equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $80, suggesting 52.76% additional upside for the stock.
Fortinet Inc. (FTNT) received an upgrade from analysts at Guggenheim, who also set their one-year price target on the stock to $70. They changed their rating on FTNT to Buy from Neutral in a recently issued research note.
Earlier Monday Guggenheim reduced its rating on Cloudflare Inc. (NET) stock to Sell from Neutral and assigned the price target to $50.
RBC Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Sage Therapeutics Inc. (SAGE) has been changed to Sector Perform fro Outperform and the new price target is set at $25.
Analysts at Redburn Partners downgraded American Airlines Group Inc. (AAL)'s stock to Neutral from Buy Monday.
3 Stocks That Could Double or Triple in the Months Ahead
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Latest Insider Activity
Natera Inc. (NTRA) CO-FOUNDER Sheena Jonathan announced the sale of shares taking place on Aug 02 at $44.22 for some 5,000 shares. The total came to more than $0.22 million.
EnLink Midstream LLC (ENLC) VP & Chief Accounting Officer Rossbach Jan Philipp sold on Aug 04 a total 40,000 shares at $11.79 on average. The insider’s sale generated proceeds of almost $0.47 million.
Keurig Dr Pepper Inc. (KDP) Chief R&D Officer Rotem-Wildeman Karin declared the purchase of shares taking place on Aug 03 at $34.00 for some 5,884 shares. The transaction amount was around $0.2 million.
Intel Corporation (INTC) CEO GELSINGER PATRICK P bought on Aug 02 a total 3,850 shares at $34.63 on average. The purchase cost the insider an estimated $133,343.
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Important Earnings
Top US earnings releases scheduled for today include T2 Biosystems Inc. (NASDAQ:TTOO). It will announce its Jun 2023 financial results. The company is expected to report earnings of -$0.27 per share from revenues of $2.03M in the three-month period.
Analysts expect Palantir Technologies Inc. (NYSE:PLTR) to report a net income (adjusted) of $0.05 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $532.71M.
Lucid Group Inc. (LCID), due to announce earnings after the market closes today, is expected to report earnings of -$0.33 per share from revenues of $175.01M 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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