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- Jul 12 - NH - Morning Newsletter (with survey at top and bottom)
Jul 12 - NH - Morning Newsletter (with survey at top and bottom)
The Early Bird’s Guide to the Stock Market: 4 Stocks You Need to Know
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Good Morning!
U.S. stock futures were slightly higher this morning as investors awaited the release of an important inflation report. Dow Jones and S&P 500 futures gained 0.2%, while Nasdaq-100 futures also climbed 0.2%.Investors are particularly interested in the June consumer price index (CPI) reading, which is expected to show a 0.3% increase from May and a 3.1% rise on an annualized basis. The core CPI, which excludes food and energy prices, is projected to rise 0.3% month-on-month and 5% year-on-year.The market is closely watching these inflation indicators, as they provide insights into future interest rate decisions by the Federal Reserve. The chances of a Fed interest rate hike at the July meeting are currently estimated at approximately 92%, according to CME's FedWatch tool.These upcoming reports will help investors gauge the direction of inflation and its potential implications for monetary policy.
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Today Top Movers
Eloxx Pharmaceuticals Inc. (ELOX) stock soared 27.97% to $9.7 in the pre-market trading after the analyst of Oppenheimer raised its price target from $50 to $55
Enochian Biosciences Inc. (NASDAQ: ENOB) shares are trading up 22.14% at $0.6107 at the time of writing following the filing of 8-K form with the SEC.
Ault Alliance Inc. (AULT) grew over 110.30% at $6.94 in pre-market trading today. The company recently provided a business update letter to stockholders.
Kaixin Auto Holdings (KXIN), a Auto & Truck Dealerships company, rose about 9.44% at $0.32 in pre-market trading Wednesday after announcing supplementary acquisition agreement with Morning Star and expects completion of the acquisition in August 2023.
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Top Upgrades & Downgrades
Baird turned bullish on Sealed Air Corporation (SEE), upgrading the stock to Outperform and assigning a $49 price target, representing potential upside of 14.25% from Tuesday's close.
Integra LifeSciences Holdings Corporation (IART) has won the favor of Jefferies' equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $53, suggesting 28.33% additional upside for the stock.
Lazard Ltd (LAZ) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $43. They changed their rating on LAZ to Overweight from Equal-Weight in a recently issued research note.
Earlier Wednesday Baird reduced its rating on Coinbase Global, Inc. (COIN) stock to Neutral from Overweight and assigned the price target to $80.
Stifel analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Activision Blizzard, Inc. (ATVI) has been changed to Hold from Buy and the new price target is set at $95.
Analysts at Wolfe Research downgraded Centene Corporation (CNC)'s stock to Peer Perform from Outperform Wednesday.
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Latest Insider Activity
ChargePoint Holdings Inc. (CHPT) President and CEO Romano Pasquale announced the sale of shares taking place on Jul 11 at $8.92 for some 5,000 shares. The total came to more than $44617.0.
Vacasa Inc. (VCSA) 10% Owner Mossytree Inc. sold on Jul 11 a total 133,759 shares at $0.71 on average. The insider’s sale generated proceeds of almost $94969.0.
1847 Holdings LLC (EFSH) 10% Owner Strategic Risk, LLC. declared the purchase of shares taking place on Jul 10 at $0.23 for some 443,413 shares. The transaction amount was around $0.1 million.
Asana Inc. (ASAN) President, CEO, & Chair Moskovitz Dustin A. bought on Jul 07 a total 80,000 shares at $21.62 on average. The purchase cost the insider an estimated $1.73 million.
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Important Earnings
Top US earnings releases scheduled for today include MillerKnoll Inc. (NASDAQ: MLKN). It will announce its May 2023 financial results. The company is expected to report earnings of $0.39 per share from revenues of $945.56M in the three-month period.
Analysts expect Theratechnologies Inc. (NASDAQ: THTX) to report a net income (adjusted) of -$0.1 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2023 is predicted to come in at $20.32M.
AngioDynamics Inc. (ANGO), due to announce earnings before the market opnes today, is expected to report earnings of $0.02 per share from revenues of $90.73M 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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