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- Jul 18 - NH - Morning Newsletter (with survey at top and bottom)
Jul 18 - NH - Morning Newsletter (with survey at top and bottom)
Unlocking Profit Potential: Analyzing 4 Stocks with Promising Upside
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Good Morning!
As dawn broke on a new day, stock futures displayed a sense of calmness in overnight trading, indicating a steady start for Wall Street amidst an upcoming flurry of earnings announcements.Futures tied to the Dow Jones Industrial Average showed a modest gain of just 5 points, while S&P 500 futures and Nasdaq-100 futures experienced marginal declines.Fresh off a winning session, the Dow Jones Industrial Average extended its winning streak to a remarkable sixth day, reaching its highest close of the year with a gain of 76.32 points or 0.22%. The S&P 500 and Nasdaq Composite also showcased strength, surging 0.39% and 0.93%, respectively.The spotlight now shifts to a packed earnings day on Tuesday, featuring results from prominent institutions such as Bank of America, Morgan Stanley, Bank of New York Mellon, PNC Financial, Lockheed Martin, and J.B. Hunt.Amidst this earnings season, optimism prevails as recent inflation data supports a soft-landing scenario, fueling the ongoing rally in stocks. However, a hint of skepticism continues to linger, reminding investors to tread with caution in these uncertain times.Looking ahead to Tuesday, the economic front is set to unveil retail sales and industrial production data for the month of June. These key indicators provide valuable insights into consumer spending and the overall performance of the industrial sector.
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Today Top Movers
Aridis Pharmaceuticals Inc. (ARDS) stock soared 15.59% to $0.304 in the pre-market trading. The company recently received received agreement from the European Medicines Agency (EMA) on the clinical study design and a single confirmatory phase 3 study of AR-301.
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) shares are trading up 24.18% at $1.9 at the time of writing following the receipt FDA Fast Track Designation for Selinexor for the treatment of Myelofibrosis.
Virios Therapeutics Inc. (VIRI) grew over 8.81% at $2.1 in pre-market trading today after reporting positive data demonstrating improvement in multiple Long-COVID symptoms following treatment with a combination of Valacyclovir and Celecoxib in an Exploratory, Open-Label, Proof of Concept Study.
Neoleukin Therapeutics Inc. (NLTX), a Biotechnology company, rose about 4.86% at $0.97 in pre-market trading Tuesday after announcing merger agreement with Neurogene Inc. to combine the companies in an all-stock transaction.
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Top Upgrades & Downgrades
Bernstein turned bullish on UnitedHealth Group Incorporated (UNH), upgrading the stock to Outperform and assigning a $603 price target, representing potential upside of 24.57% from Monday's close.
Casey's General Stores Inc. (CASY) has won the favor of Credit Suisse's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $285, suggesting 14.55% additional upside for the stock.
Pinterest Inc. (PINS) received an upgrade from analysts at Evercore ISI Group, who also set their one-year price target on the stock to $41. They changed their rating on PINS to Outperform from In-Line in a recently issued research note.
Earlier Tuesday New Street Research reduced its rating on The Trade Desk Inc. (TTD) stock to Sell from Neutral and assigned the price target to $69.
Deutsche Bank analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Celanese Corporation (CE) has been changed to Hold from Buy and the new price target is set at $125.
Analysts at Deutsche Bank downgraded CommScope Holding Company Inc. (COMM)'s stock to Hold from Buy Tuesday.
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Latest Insider Activity
Alphabet Inc. (GOOGL) Director HENNESSY JOHN L announced the sale of shares taking place on Jul 13 at $125.00 for some 200 shares. The total came to more than $25000.0.
Recursion Pharmaceuticals Inc. (RXRX) Director Burrell Terry-Ann sold on Jul 13 a total 8,275 shares at $12.59 on average. The insider’s sale generated proceeds of almost $0.1 million.
Cadiz Inc. (CDZI) Director Dreyfus Maria S. declared the purchase of shares taking place on Jul 13 at $3.50 for some 100,000 shares. The transaction amount was around $0.35 million.
Martin Midstream Partners L.P. (MMLP) President and CEO BONDURANT ROBERT D bought on Jul 12 a total 1,083 shares at $2.12 on average. The purchase cost the insider an estimated $2,300.
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Important Earnings
Top US earnings releases scheduled for today include The Charles Schwab Corporation (NYSE: SCHW). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.71 per share from revenues of $4.61B in the three-month period.
Analysts expect The Bank of New York Mellon Corporation (NYSE: BK) to report a net income (adjusted) of $1.22 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $4.37B.
Morgan Stanley (MS), due to announce earnings before the market opens today, is expected to report earnings of $1.15 per share from revenues of $13.08B 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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