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- Aug - 17 - NH - Morning Newsletter (with survey at top and bottom)
Aug - 17 - NH - Morning Newsletter (with survey at top and bottom)
Guiding Your Investments: 4 Stocks Positioned for Gains Today
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Stock futures saw a modest uptick on Thursday as market participants digested the recent insights provided by the Federal Reserve regarding potential future rate hikes. Dow Jones industrial average futures increased by 29 points or 0.1%. Similarly, S&P 500 futures exhibited a marginal rise of 0.1% above the flat line, while Nasdaq-100 futures also displayed a slight gain of 0.11%.This trend unfolds against the backdrop of a consecutive decline for the major indices. In the previous session, the S&P 500 registered a dip of 0.76%, accompanied by a 0.52% reduction for the Dow and a more pronounced slip of 1.15% for the Nasdaq Composite.Market sentiment has been influenced by officials' statements during the central bank's July meeting minutes, hinting at the potential need for further tightening measures to address inflation concerns. The federal funds rate currently oscillates within a range of 5.25% to 5.5%, reflective of the deliberations.The ongoing month of August has witnessed market turbulence, resulting in significant declines across major averages. Valuations have been undergoing an adjustment from their elevated levels, contributing to the prevailing uncertainty.Investor focus remains attuned to an array of corporate earnings announcements on Thursday. Retail giants Walmart and Tapestry are slated to release their reports before the opening bell, followed by Ross Stores later in the day. Additionally, Applied Materials and Keysight Technologies are scheduled to unveil their earnings after the market's closure.Traders will also keenly await the release of the latest weekly jobless claims report, as this data point continues to play a pivotal role in shaping market expectations and outlook.
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Today Top Movers
Tivic Health Systems Inc. (TIVC) stock soared 43.43% to $0.0961 in the pre-market trading after announcing that the research study that the company is funding at The Feinstein Institutes for Medical Research has received study approval from the Institutional Review Board and has initiated study recruitment and enrollment for its novel non-invasive bioelectronic device approach to vagus nerve stimulation.
Modular Medical Inc. (NASDAQ: MODD) shares are trading up 29.59% at $1.27 at the time of writing after announcing partnership with Phillips-Medisize to expand insulin delivery alternatives.
Advanced Health Intelligence Ltd. (AHI) grew over 17.97% at $4.53 in pre-market trading today after announcing a significant milestone in its ongoing commitment to innovation and research.
Cisco Systems Inc. (CSCO), a Communication Equipment company, rose about 3% at $54.55 in pre-market trading Thursday. The company reported fourth quarter and fiscal year results for the period ended July 29, 2023.
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Top Upgrades & Downgrades
B of A Securities turned bullish on Adobe Inc. (ADBE), upgrading the stock to "Buy" and assigning a $630 price target, representing potential upside of 22.45% from Wednesday's close.
America Movil S.A.B. de C.V. (AMX) has won the favor of Citigroup's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $23.5, suggesting 26.14% additional upside for the stock.
Coherent Corp. (COHR) received an upgrade from analysts at Rosenblatt, who also set their one-year price target on the stock to $45. They changed their rating on COHR to Buy from Neutral in a recently issued research note.
Earlier Thursday BMO Capital reduced its rating on SL Green Realty Corp. (SLG) stock to Market Perform from Outperform and assigned the price target to $35.
Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Advent Technologies Holdings Inc. (ADN) has been changed to Hold from Buy and the new price target is set at $0.6.
Analysts at Wells Fargo downgraded Crestwood Equity Partners LP (CEQP)'s stock to Equal-Weight from Overweight Thursday.
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Latest Insider Activity
Micron Technology Inc. (MU) CEO and President MEHROTRA SANJAY announced the sale of shares taking place on Aug 15 at $66.22 for some 7,000 shares. The total came to more than $0.46 million.
Tidewater Inc. (TDW) EVP, CFO & CAO Rubio Samuel R sold on Aug 14 a total 21,788 shares at $62.37 on average. The insider’s sale generated proceeds of almost $1.36 million.
Xponential Fitness Inc. (XPOF) Chief Legal Officer Hagopian Andrew declared the purchase of shares taking place on Aug 16 at $23.15 for some 4,200 shares. The transaction amount was around $97230.0.
Taysha Gene Therapies Inc. (TSHA) 10% Owner Manning Paul B bought on Aug 16 a total 16,466,667 shares at $0.90 on average. The purchase cost the insider an estimated $14.82 million.
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Important Earnings
Top US earnings releases scheduled for today include Walmart Inc. (NYSE:WMT). It will announce its Jul 2023 financial results. The company is expected to report earnings of $1.7 per share from revenues of $160.27B in the three-month period.
Analysts expect Tapestry Inc. (NYSE:TPR) to report a net income (adjusted) of $0.97 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $1.65B.
Lumentum Holdings Inc. (LITE), due to announce earnings before the market opens today, is expected to report earnings of $0.55 per share from revenues of $366.47M 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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