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- Aug - 16 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 16 - NH - Morning Newsletter (with survey at top and bottom)
Navigating Today's Market: 4 Stocks with Promising Potential
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Good Morning!
Wednesday morning finds stock futures nearly unchanged, as investors navigate a recent losing session that marked another downward movement in the ongoing August slump.Futures linked to the Dow Jones Industrial Average experienced a decline of 20 points, hovering close to the unchanged mark. Similarly, S&P 500 and Nasdaq 100 futures displayed marginal declines.After the market closed, both tax preparer H&R Block and Mediterranean food chain Cava witnessed noteworthy gains of over 6% and 9%, respectively, fueled by stronger-than-anticipated quarterly reports.These developments transpire in the wake of a negative session on Wall Street, with all three major indexes concluding more than 1% lower on Tuesday. This downturn brought an end to a three-day winning streak for the Dow, while the S&P 500 closed below its 50-day moving average, a potential harbinger of an impending downturn.As we approach the midpoint of August, the three primary indexes are poised for a month characterized by losses. The Nasdaq Composite and S&P 500 appear set to conclude the month down 5% and 3.3%, respectively, while the Dow is projected to experience a 1.7% decline.Wednesday holds significance as investors eagerly anticipate economic data on housing, industrial production, and capacity utilization. Additionally, attention will be directed towards the latest wave of retail corporate earnings, with Target and TJX Companies anticipated to release their reports before the commencement of trading.
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
Novo Integrated Sciences Inc. (NVOS) stock soared 72.07% to $0.1996 in the pre-market trading. The company provided updates on certain current actions and events.
DLocal Limited (NASDAQ: DLO) shares are trading up 27.1% at $19.7 at the time of writing following the release of 2023 second quarter financial results.
Precision BioSciences Inc. (DTIL) grew over 21.19% at $0.6428 in pre-market trading today after announcing the completion of strategic transaction with Imugene for Azer-Cel in Cancer.
CAVA Group Inc. (CAVA), a Restaurants company, rose about 12.09% at $52 in pre-market trading Wednesday after reporting second quarter 2023 results.
His system isolated NVIDIA - Here's His Next Buy
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Top Upgrades & Downgrades
JP Morgan turned bullish on Gulfport Energy Corporation (GPOR), upgrading the stock to "Overweight" and assigning a $131 price target, representing potential upside of 16.72% from Tuesday's close.
SM Energy Company (SM) 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 $47, suggesting 20.48% additional upside for the stock.
Pioneer Natural Resources Company (PXD) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $264. They changed their rating on PXD to Overweight from Neutral in a recently issued research note.
Earlier Wednesday JP Morgan reduced its rating on Chesapeake Energy Corporation (CHK) stock to Neutral from Overweight and assigned the price target to $96.
Citigroup analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Sea Limited (SE) has been changed to Neutral from Buy and the new price target is set at $50.
Analysts at Goldman Sachs downgraded Kimco Realty Corporation (KIM)'s stock to Neutral from Buy Wednesday.
Revolutionary Company Could Disrupt The Entertainment Industry
Uncover the potential of this Entertainment company.
A Dawson James Securities analyst set a $10.00 target for this company signaling a 314% potential upside from its closing price of $2.41 on 6/9/2023.
A move to that target isn't certain, but when an analyst provides such a target, it's definitely worth noting quickly.
Would you like to know the name of this company?
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Latest Insider Activity
Aurora Innovation Inc. (AUR) Director Anderson Sterling announced the sale of shares taking place on Aug 15 at $3.67 for some 200,000 shares. The total came to more than $0.73 million.
Grocery Outlet Holding Corp. (GO) Director Herman Thomas F sold on Aug 15 a total 2,000 shares at $33.91 on average. The insider’s sale generated proceeds of almost $67818.0.
Altimmune Inc. (ALT) Director Drutz David declared the purchase of shares taking place on Aug 15 at $2.88 for some 300 shares. The transaction amount was around $862.0.
Coeur Mining Inc. (CDE) Director Das Paramita bought on Aug 11 a total 3,500 shares at $2.58 on average. The purchase cost the insider an estimated $9,048.
Strong Copper Market Fundamentals Make This A Company To Watch!
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Important Earnings
Top US earnings releases scheduled for today include Cisco Systems Inc. (NASDAQ:CSCO). It will announce its Jul 2023 financial results. The company is expected to report earnings of $1.06 per share from revenues of $15.05B in the three-month period.
Analysts expect StoneCo Ltd. (NASDAQ:STNE) to report a net income (adjusted) of $0.18 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $592.06M.
Wolfspeed Inc. (WOLF), due to announce earnings after the market closes today, is expected to report earnings of -$0.2 per share from revenues of $222.82M 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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