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- Jul 10 - NH - Morning Newsletter (with survey at top and bottom)
Jul 10 - NH - Morning Newsletter (with survey at top and bottom)
Stock Market News: Get the Inside Scoop on 4 Hot Stocks
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Good Morning!
Investors geared up for an action-packed week as stock futures showed little change on Monday. All eyes were on the upcoming release of crucial inflation data and the eagerly anticipated start of the second-quarter earnings season.Futures tied to the Dow Jones Industrial Average nudged up by a modest 12 points, setting the stage for potential market movements. However, Nasdaq-100 futures experienced a slight dip of 0.3%, while the S&P 500 saw a marginal decline of approximately 0.1%.This week's highly anticipated inflation data arrives in the wake of the Federal Open Market Committee's decision to hold off on a rate hike in June. Market-watchers eagerly await the release of the consumer price index report on Wednesday, followed by the unveiling of the producer price index, which provides valuable insights into wholesale price pressures, on Thursday.After a less-than-stellar performance last week, Wall Street experienced a minor setback. The S&P 500 pulled back by 1.16%, while the Nasdaq Composite and Dow Jones Industrial Average both experienced modest declines of 0.92% and 1.96%, respectively.The market's reaction to the June nonfarm payroll data was mixed. While job growth fell short of expectations, there was a glimmer of concern as wage growth exceeded forecasts. These stronger-than-expected wage gains raised questions about the possibility of more Federal Reserve rate hikes in the future.Adding to the excitement, investors were eagerly anticipating a flood of quarterly earnings reports. Heavyweights in the finance industry, including BlackRock, JPMorgan Chase, Wells Fargo, and Citi, were set to report their second-quarter results, effectively kick-starting the earnings season with a bang.With the stage set for an eventful week, investors braced themselves for the impact of inflation data, weighed the implications of recent market movements, and eagerly awaited the unveiling of earnings reports from financial powerhouses.
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Today Top Movers
Nanobiotix S.A. (NBTX) stock soared 50.58% to $7.8 in the pre-market trading after announcing a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV for the investigational, potential first-in-class radioenhancer NBTXR3.
Alpine 4 Holdings Inc. (NASDAQ: ALPP) shares are trading up 25.6% at $2.11 at the time of writing. The company recently reported that its subsidiary, Vayu Aerospace Corporation has received its first P.O. from U.S. Government contractor, All American Contracting, Inc., for ten G1 MKIII Fixed Wing UAV's.
Siyata Mobile Inc. (SYTA) grew over +10.32% at $0.0684 in pre-market trading today. The company has recently secured its largest SD7 order ever in its history from a single customer. The order is valued at approximately $1.4 million.
iClick Interactive Asia Group Limited (ICLK), a Advertising Agencies company, rose about 5.19% at $1.62 in pre-market trading Monday after filing of SC 13D/A form with the SEC.
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Top Upgrades & Downgrades
RBC Capital turned bullish on Patterson-UTI Energy Inc. (PTEN), upgrading the stock to Outperform and assigning a $19 price target, representing potential upside of 46.04% from Friday's close.
Azul S.A. (AZUL) has won the favor of Barclays' equity research team. The firm upgraded the shares from Underweight to Equal-Weight and moved their price target to $14, suggesting 18.04% additional upside for the stock.
The Charles Schwab Corporation (SCHW) received an upgrade from analysts at JMP Securities, who also set their one-year price target on the stock to $73. They changed their rating on SCHW to Market Outperform from Market Perform in a recently issued research note.
Earlier Monday RBC Capital reduced its rating on Helmerich & Payne Inc. (HP) stock to Sector Perform from Outperform and assigned the price target to $45.
Evercore ISI Group analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Citizens Financial Group Inc. (CFG) has been changed to In-Line from Outperform and the new price target is set at $29.
Analysts at Keefe, Bruyette & Woods downgraded BILL Holdings Inc. (BILL)'s stock to Market Perform from Outperform Monday.
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
Sunrun Inc. (RUN) Chief Financial Officer Abajian Danny announced the sale of shares taking place on Jul 06 at $16.02 for some 539 shares. The total came to more than $8637.0.
Cloudflare Inc. (NET) CEO & Chair of the Board Prince Matthew sold on Jul 07 a total 52,384 shares at $63.25 on average. The insider’s sale generated proceeds of almost $3.31 million.
Walgreens Boots Alliance Inc. (WBA) EVP, Pres. U.S. Healthcare DRISCOLL JOHN PATRICK declared the purchase of shares taking place on Jun 30 at $28.42 for some 5,172 shares. The transaction amount was around $0.15 million.
Consolidated Edison Inc. (ED) SVP & CFO HOGLUND ROBERT N bought on Jun 30 a total 147 shares at $90.40 on average. The purchase cost the insider an estimated $13,316.
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Important Earnings
Top US earnings releases scheduled for today include E2open Parent Holdings Inc. (NYSE: ETWO). It will announce its May 2023 financial results. The company is expected to report earnings of $0.05 per share from revenues of $160.62M in the three-month period.
Analysts expect Helen of Troy Limited (NASDAQ: HELE) to report a net income (adjusted) of $1.6 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2023 is predicted to come in at $465.36M.
CalAmp Corp. (CAMP), due to announce earnings after the market closes today, is expected to report earnings of $0.04 per share from revenues of $75.66M 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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