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- Jul 05 - NH - Morning Newsletter (with survey at top and bottom) (copy 01)
Jul 05 - NH - Morning Newsletter (with survey at top and bottom) (copy 01)
Stock Market Sunrise: Fuel Your Portfolio with Top Performers
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Good Morning!
Stock futures took a tumble on Thursday, injecting a dose of uncertainty into the trading landscape following a lackluster session on Wall Street. Traders anxiously assessed the Federal Reserve's monetary policy outlook, lending an air of anticipation to the market.The Dow Jones Industrial Average futures felt the weight of the situation, shedding 153 points, equivalent to 0.4% of its value. Echoing this sentiment, S&P 500 futures and Nasdaq-100 futures both dipped by 0.4%, underscoring the cautious mood among traders.In the premarket arena, JetBlue Airways encountered a bumpy ride, slipping by 1.2% after making an announcement that shook the industry. The airline disclosed its decision to sever ties with American Airlines in the northeast U.S. region, redirecting its focus towards Spirit Airlines. Consequently, American Airlines shares took a 1.6% nosedive, while Spirit Airlines experienced a 2.9% ascent, seemingly benefiting from the shake-up.After a brief hiatus for the Fourth of July holiday, the trading week resumed on Wednesday, albeit with a lackluster performance. The major indexes experienced modest losses, with the Dow Jones Industrial Average losing 129.83 points (equivalent to 0.38%), and the S&P 500 witnessing a slight dip of 0.2%. Both indexes had their three-day winning streaks come to an end. The Nasdaq Composite, too, felt the pressure, closing 0.18% lower.Market participants were also keenly dissecting the minutes from June's Federal Reserve policy meeting, a crucial event that shed light on the central bank's decision-making process. During the meeting, officials decided to forgo a hike, and the latest insights revealed that most members were inclined to support future increases.
5 Stocks Set to Soar in 2023
Luke Lango just released the names of 5 AI stocks he believes every investor should own, even in these crazy markets — one stock is trading for under $2.
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Today Top Movers
Mullen Automotive Inc. (MULN) stock soared 37.57% to $0.2351 in the pre-market trading after announcing that the company has retained Christian Attar, formally known as Christian Levine Law Group, and in partnership with Warshaw, Burstein, LLP, to combat naked short selling activities.
Histogen Inc. (NASDAQ: HSTO) shares are trading up 15.28% at $0.8391 at the time of writing as company pauses development and explores strategic options to boost shareholder value.
Stronghold Digital Mining Inc. (SDIG) grew over 10.79% at $6.57 in pre-market trading today after providing a June 2023 Bitcoin mining update.
Meta Platforms Inc. (META), a Internet Content & Information company, rose about 1.62% at $299.14 in pre-market trading Thursday. The company introduced Threads, a 'friendly' alternative to Twitter, creating buzz in the social media landscape.
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Top Upgrades & Downgrades
UBS turned bullish on Teva Pharmaceutical Industries Limited (TEVA), upgrading the stock to Neutral and assigning a $8 price target, representing potential upside of 6.81% from Wednesday's close.
Canadian Solar Inc. (CSIQ) has won the favor of UBS' equity research team. The firm upgraded the shares from Neutral to Buy.
Neurocrine Biosciences Inc. (NBIX) received an upgrade from analysts at BMO Capital, who also set their one-year price target on the stock to $96. They changed their rating on NBIX to Market Perform from Underperform in a recently issued research note.
Earlier Thursday Baird reduced its rating on American Express Company (AXP) stock to Neutral from Outperform and assigned the price target to $185.
Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Affirm Holdings Inc. (AFRM) has been changed to Underweight from Neutral and the new price target is set at $11.
Analysts at RBC Capital downgraded American Equity Investment Life Holding Company (AEL)'s stock to Sector Perform from Outperform Thursday.
Five Top Summer Stocks to Buy and Hold Now
With the official start to summer is just days away, 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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Latest Insider Activity
Zuora Inc. (ZUO) Chief Revenue Officer Traube Robert J. announced the sale of shares taking place on Jul 05 at $10.08 for some 57,281 shares. The total came to more than $0.58 million.
Netflix Inc. (NFLX) Director HALEY TIMOTHY M sold on Jul 05 a total 1,022 shares at $450.19 on average. The insider’s sale generated proceeds of almost $0.46 million.
Tellurian Inc. (TELL) Director GROSS JONATHAN S declared the purchase of shares taking place on Jun 30 at $1.38 for some 100,000 shares. The transaction amount was around $0.14 million.
KKR & Co. Inc. (KKR) 10% Owner KKR Alternative Assets LLC bought on Jun 30 a total 459,348 shares at $27.99 on average. The purchase cost the insider an estimated $12.86 million.
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Important Earnings
Top US earnings releases scheduled for today include Trinity Biotech plc (NASDAQ: TRIB). It will announce its Dec 2022 financial results. The company is expected to report revenues of $18.04M in the three-month period.
Analysts expect Levi Strauss & Co. (NYSE:LEVI) to report a net income (adjusted) of $0.03 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2023 is predicted to come in at $1.34B.
Simulations Plus Inc. (SLP), due to announce earnings after the market closes today, is expected to report earnings of $0.2 per share from revenues of $16.34M 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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