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- Jun 06 - NH - Morning Newsletter (with survey at top and bottom)
Jun 06 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Market Report: 4 Power Picks to Watch
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Good Morning!Investors braced themselves for a bumpy ride as U.S. stock futures stumbled on Tuesday, reflecting concerns about a potential economic slowdown. The release of gloomy data on Monday triggered a shift in expectations regarding the Federal Reserve's upcoming decision on interest rates, adding to the market uncertainty. Futures for the Dow Jones Industrial Average took a step back by 30 points, representing a 0.1% decline, following the index's 199-point drop last Friday. Meanwhile, S&P 500 futures were down 0.2%, and the tech-heavy Nasdaq futures dipped 0.1% into the red. The initial optimism sparked by an impressive U.S. jobs report quickly faded as the recent release of the ISM services data painted a grim picture of the country's economic health.
Five Top Tech Stocks to Own Now
Warren Buffett says that a "climate of fear is your friend when investing; a euphoric world is your enemy."
"The time to buy is when there's blood in the streets, even if the blood is your own."
With a good deal of fear priced into the tech sector, here are five hot stocks to consider.
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Today Top Movers
T2 Biosystems Inc. (TTOO) stock soared 53.14% to $0.1072 in the pre-market trading after announciing that it has submitted an application with the FDA for Breakthrough Device Designation for the Company’s Candida auris test.
GitLab Inc. (NASDAQ: GTLB) shares are trading up 25.79% at $44.53 at the time of writing following the release of first quarter fiscal year 2024 financial results.
Mereo BioPharma Group plc (MREO) grew over 17.14% at $1.23 in pre-market trading today after the company and Ultragenyx Pharmaceutical Inc. RARE) announced data from the dose-selection Phase 2 portion of the Phase 2/3 Orbit study showing that setrusumab rapidly induced bone production in OI-affected patients.
Zura Bio Limited (ZURA), a Biotechnology company, rose about 18.64% at $7.7 in pre-market trading Tuesday after announcing the final closing of a private placement resulting in gross proceeds to Zura Bio of approximately $80 million.
Nevada Desert more Valuable than Wall Street or Silicon Valley?
It could be true, according to Nevada Governor Steve Sisolak. The state's desert flats contain more lithium than any other geography in the world. And with electric vehicles driving a global boom in demand for lithium-ion batteries, Nevada should be on every investor's radar.
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Top Upgrades & Downgrades
RBC Capital turned bullish on Vale S.A. (VALE), upgrading the stock to Outperform and assigning a $15 price target, representing potential upside of 9.65% from Monday's close.
Cenovus Energy Inc. (CVE) has won the favor of Goldman Sachs' equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $22, suggesting 29.49% additional upside for the stock.
NiSource Inc. (NI) received an upgrade from analysts at UBS. They changed their rating on NI to Buy from Neutral in a recently issued research note.
Earlier Tuesday Credit Suisse reduced its rating on Amedisys Inc. (AMED) stock to Neutral from Outperform and assigned the price target to $100.
DA Davidson analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Apple Inc. (AAPL) has been changed to Neutral from Buy and the new price target is set at $185.
Analysts at UBS downgraded American Electric Power Company, Inc. (AEP)'s stock to Neutral from Buy Tuesday.
Could this hidden gem be poised for a rebound?
The demand for precious metals, especially gold, is growing due to technological advancements!
Canada's gold mining industry is expected to rise with better technology to access new deposits and increase recovery rates.
We know a company well positioned to meet this demand. This Gold stock has strategically positioned projects to capitalize on the region's mineral wealth.
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Latest Insider Activity
Credo Technology Group Holding Ltd (CRDO) Chief Technology Officer Cheng Chi Fung announced the sale of shares taking place on Jun 01 at $15.20 for some 323,450 shares. The total came to more than $4.92 million.
Riot Platforms Inc. (RIOT) EXECUTIVE CHAIRMAN Yi Soo il Benjamin sold on Jun 02 a total 485,884 shares at $11.78 on average. The insider’s sale generated proceeds of almost $5.72 million.
M&T Bank Corporation (MTB) Sr. EVP & CFO Bible Daryl N. declared the purchase of shares taking place on Jun 01 at $120.61 for some 10,000 shares. The transaction amount was around $1.21 million.
ImmunityBio Inc. (IBRX) Director BLASZYK MICHAEL D bought on Jun 05 a total 71,915 shares at $2.75 on average. The purchase cost the insider an estimated $198,023.
Incredible Investment Opportunity - Get In On the Ground Floor
Opportunities to become an early investor in this little-known advertising platform in the past have been restricted to venture capitalists, accredited and institutional investors.
Access to early-stage companies with disruptive technology is no longer exclusive to venture capitalists & angel investors if companies get their offerings qualified under Regulation A+. Here's your shot today!
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Important Earnings
Academy Sports and Outdoors Inc. (NASDAQ: ASO)
. It will announce its Apr 2023 financial results. The company is expected to report earnings of $1.66 per share from revenues of $1.44B in the three-month period.
Analysts expect Ciena Corporation (NYSE: CIEN) to report a net income (adjusted) of $0.61 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2023 is predicted to come in at $1.09B.
Chico's FAS Inc. (CHS), due to announce earnings before the market opens today, is expected to report earnings of $0.27 per share from revenues of $541.95M 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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