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- Aug - 15 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 15 - NH - Morning Newsletter (with survey at top and bottom)
4 High-Potential Stocks to Consider
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Good Morning!
On Tuesday, U.S. stock futures experienced a decline, influenced by decreases in bank shares, as Wall Street grappled to sustain the momentum generated in the prior session.Futures linked to the Dow Jones Industrial Average recorded a decline of 167 points, representing a decrease of 0.5%. Meanwhile, S&P 500 and Nasdaq-100 futures exhibited drops of 0.4% and 0.3%, respectively.Ahead of the market open, JPMorgan Chase, Citigroup, Wells Fargo, and Bank of America observed declines in their share values. These movements followed a cautionary note from Fitch, indicating potential downgrades for numerous banks, including JPMorgan Chase. Notably, in the preceding week, Moody’s downgraded the ratings of ten U.S. banks, while placing some major institutions on downgrade watch.Market participants remained attentive to developments in the bond market, with interest rates climbing. The benchmark 10-year Treasury yield was noted at 4.21%, while the 2-year Treasury yield demonstrated an advance to 4.97%.A week marked by a flurry of earnings reports from major retailers commenced with Home Depot revealing its results on Tuesday. Later in the week, traders will closely analyze releases from Target and Walmart.Economically, Wall Street is anticipating July's retail sales data to glean further insights into the state of consumer activity. Additionally, data on import and export prices for the month, alongside August's NAHB housing market index, remain on the schedule for upcoming assessment.
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Today Top Movers
Delcath Systems Inc. (DCTH) stock soared 65.38% to $5.16 in the pre-market trading after announcing FDA approval of HEPZATO KIT™ for the treatment of adult patients with unresectable Hepatic-Dominant Metastatic Uveal Melanoma.
Sonim Technologies Inc. (NASDAQ: SONM) shares are trading up 21.04% at $0.6656 at the time of writing after reporting 125% revenue increase to $26.8 million, continued profitability in second quarter 2023.
Taysha Gene Therapies Inc. (TSHA) grew over 12.68% at $2.4 in pre-market trading today. The company reported initial clinical data from first adult Rett Syndrome patient dosed in REVEAL phase 1/2 trial.
Castellum Inc. (CTM), a Information Technology Services company, rose about 12.31% at $0.5391 in pre-market trading Tuesday after announcing strong second quarter financial results.
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Top Upgrades & Downgrades
Raymond James turned bullish on CareDx Inc (CDNA), upgrading the stock to Outperform and assigning a $12 price target, representing potential upside of 28.41% from Monday's close.
Pharvaris N.V. (PHVS) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $34, suggesting 84.58% additional upside for the stock.
NextDecade Corporation (NEXT) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $9. They changed their rating on NEXT to Buy from Hold in a recently issued research note.
Earlier Tuesday TD Cowen reduced its rating on 22nd Century Group Inc. (XXII) stock to Market Perform from Outperform and assigned the price target to $2.5.
Truist Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Avid Technology Inc. (AVID) has been changed to Hold from Buy and the new price target is set at $27.05.
Analysts at Citigroup downgraded Agiliti Inc. (AGTI)'s stock to Neutral from Buy Tuesday.
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Latest Insider Activity
The New York Times Company (NYT) Chairman and Publisher Sulzberger Arthur G. announced the sale of shares taking place on Aug 11 at $44.23 for some 8,500 shares. The total came to more than $0.38 million.
Natera Inc. (NTRA) CEO AND PRESIDENT Chapman Steven Leonard sold on Aug 11 a total 2,578 shares at $55.00 on average. The insider’s sale generated proceeds of almost $0.14 million.
Gannett Co. Inc. (GCI) Chief Executive Officer Reed Michael declared the purchase of shares taking place on Aug 14 at $3.29 for some 80,000 shares. The transaction amount was around $0.26 million.
2seventy bio Inc. (TSVT) 10% Owner Kynam Capital Management, LP bought on Aug 10 a total 515,414 shares at $5.92 on average. The purchase cost the insider an estimated $3.05 million.
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Important Earnings
Top US earnings releases scheduled for today include Sea Limited (NYSE:SE). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.41 per share from revenues of $3.2B in the three-month period.
Analysts expect Nu Holdings Ltd. (NYSE:NU) to report a net income (adjusted) of $0.04 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $1.74B.
DLocal Limited (DLO), due to announce earnings after the market closes today, is expected to report earnings of $0.13 per share from revenues of $149.39M 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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