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- Jul 26 - NH - Morning Newsletter (with survey at top and bottom)
Jul 26 - NH - Morning Newsletter (with survey at top and bottom)
Investor's Radar: Unveiling 4 Compelling Stocks Worth Your Attention
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Good Morning!
In the bustling world of finance, Tuesday night saw the S&P 500 futures hovering close to neutral territory, with investors eagerly digesting a flurry of corporate earnings reports from tech giants and eagerly anticipating Wednesday's highly awaited interest rate policy decision.As the night unfolded, S&P 500 futures remained largely unchanged, while Nasdaq 100 futures dipped slightly by 0.2%. The Dow Jones Industrial Average futures slipped by 26 points, a mere 0.07% dip.The spotlight was on the tech behemoths during extended trading, with Google-parent Alphabet stealing the show by surging over 6% after impressing investors with robust cloud revenue growth, exceeding expectations for the quarter. Conversely, Microsoft faced a slight setback, sliding more than 3% following their earnings release, which indicated a slowdown in cloud revenue growth.The excitement didn't end with Big Tech as other players also made headlines. Snap, the social media giant, took a considerable tumble of 19% in after-hours trading, stemming from lackluster guidance for the current quarter's performance.Tuesday proved fruitful for Wall Street, with a winning day in the books. Investors combed through the latest earnings reports and tactically positioned themselves ahead of the impending Fed decision. The Dow managed to secure its 12th consecutive winning session, a feat not seen for the blue-chip average since February 2017. Meanwhile, the S&P 500 and Nasdaq Composite enjoyed gains of approximately 0.3% and 0.6%, respectively.As the financial world gears up for the much-anticipated interest rate decision, all eyes remain fixated on the ongoing stream of corporate financial releases on Wednesday. Notable names like Coca-Cola, Stellantis, Boeing, and AT&T are among those slated to report before the opening bell, while Meta, Chipotle, and Mattel will unveil their earnings after the market closes, keeping investors on the edge of their seats.
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Today Top Movers
PacWest Bancorp (PACW) stock soared 32.9% to $10.22 in the pre-market trading. Banc of California and PacWest announced a transformational merger and $400 million equity raise from Warburg Pincus and Centerbridge.
Warrantee Inc. American Depositary Shares (NASDAQ: WRNT) shares are trading up 34.88% at $5.80 at the time of writing after announcing pricing of Initial Public Offering.
Tenable Holdings Inc. (TENB) grew over 11.92% at $49 in pre-market trading today following the release of second quarter 2023 financial results.
Alphabet Inc. (GOOG), a Internet Content & Information company, rose about 5.95% at $130.1 in pre-market trading Wednesday after its second-quarter profit exceeded Wall Street expectations.
What a Bargain... 4 "Cheap Stocks"
It can be challenging to discover a bargain in the stock market.
Fortunately, there are still a few "cheap stocks" in markets that the majority of investors aren't aware of. In fact, our analysts found 4 bargain companies with a share price of $20 or less and gave all of them a "buy" or "strong buy" rating.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on NetApp Inc. (NTAP), upgrading the stock to Equal-Weight and assigning a $74 price target.
WW International Inc. (WW) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $13, suggesting 30.91% additional upside for the stock.
Spotify Technology S.A. (SPOT) received an upgrade from analysts at Deutsche Bank. They changed their rating on SPOT to Buy from Hold in a recently issued research note.
Earlier Wednesday Raymond James reduced its rating on Enterprise Financial Services Corp (EFSC) stock to Market Perform from Outperform.
TD Cowen analysts reduced their investment ratings, saying in research reports covered by the media that its rating for GATX Corporation (GATX) has been changed to Market Perform from Outperform and the new price target is set at $137.
Analysts at Wells Fargo downgraded Omega Healthcare Investors Inc. (OHI)'s stock to Equal-Weight from Overweight Wednesday.
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Latest Insider Activity
DraftKings Inc. (DKNG) See Remarks Robins Jason announced the sale of shares taking place on Jul 21 at $30.99 for some 450,000 shares. The total came to more than $13.95 million.
Salesforce Inc. (CRM) Chair and CEO Benioff Marc sold on Jul 24 a total 15,000 shares at $225.04 on average. The insider’s sale generated proceeds of almost $3.38 million.
Symbotic Inc. (SYM) 10% Owner SVF II SPAC Investment 3 (DE) declared the purchase of shares taking place on Jul 23 at $28.05 for some 17,825,312 shares. The transaction amount was around $500.0 million.
KKR & Co. Inc. (KKR) 10% Owner KKR Phorm Investors L.P. bought on Jul 21 a total 1,735,988 shares at $3.30 on average. The purchase cost the insider an estimated $5.73 million.
Five Top Summer Stocks to Buy and Hold Now
With the official start to summer here, 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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Important Earnings
Top US earnings releases scheduled for today include AT&T Inc. (NYSE:T). It will announce its Jun 2023 financial results. The company is expected to report earnings of $0.54 per share from revenues of $26.91B in the three-month period.
Analysts expect The Coca-Cola Company (NYSE:KO) to report a net income (adjusted) of $0.65 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2023 is predicted to come in at $10.56B.
Tilray Brands Inc. (TLRY), due to announce earnings before the market opens today, is expected to report earnings of -$0.05 per share from revenues of $153.66M 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.