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- Jun 08 - NH - Morning Newsletter (with survey at top and bottom)
Jun 08 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Stock Alert: 4 Top Stocks to Boost Your Portfolio
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Good Morning!
Thursday's stock futures showed minimal movement, with investors eagerly anticipating the next market catalyst and analyzing the recent surge in stock prices.Futures associated with the S&P 500 experienced a slight uptick of 0.01%, whereas Nasdaq 100 futures displayed a marginal decline of 0.01%. Similarly, futures linked to the Dow Jones Industrial Average registered a modest gain of only 2 points.GameStop shares faced a significant decline of approximately 19%. The video game retailer made headlines by terminating CEO Matthew Furlong and appointing Ryan Cohen as its executive chairman.In the previous session, both the S&P 500 and Nasdaq Composite observed a downturn. The broad-market index concluded the day with a 0.38% decrease, while the Nasdaq experienced a more substantial drop of 1.29%. The Dow Jones Industrial Average, consisting of 30 major stocks, defied the trend and recorded a gain of 0.27% or 91.74 points.The morning of Thursday will bring forth additional economic data, including the release of weekly jobless claims and wholesale inventories.
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Today Top Movers
Semtech Corporation (SMTC) stock soared 21.49% to $27.25 in the pre-market trading after announcing first quarter of fiscal year 2024 results.
Jiayin Group Inc. (NASDAQ: JFIN) shares are trading up 15.62% at $8.44 at the time of writing. The company recently declared its unaudited financial results for the first quarter ended March 31, 2023. Net Revenue Grew 119.5% to RMB1,122.2 million.
4D Molecular Therapeutics Inc. (FDMT) grew over 16.97% at $21.37 in pre-market trading today after releasing positive interim clinical data from the 4D-710 Phase 1/2 AEROW clinical trial for the treatment of cystic fibrosis lung disease.
SMX (Security Matters) Public Limited Company (SMX), a Specialty Business Services company, rose about 14.89% at $1.08 in pre-market trading Thursday following the declaration from the company that it is in the process of creating a new subsidiary, trueSilver, and has entered into a 120 day exclusive agreement with Sunshine Minting Inc., to create a path to full transparency and traceability for silver products from mine site to final products and recycling and the creation of an industry standard.
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Top Upgrades & Downgrades
Evercore ISI Group turned bullish on Marsh & McLennan Companies Inc. (MMC), upgrading the stock to Outperform and assigning a $199 price target, representing potential upside of 13.79% from Wednesday's close.
Aptiv PLC (APTV) has won the favor of Wolfe Research's equity research team. The firm upgraded the shares from Peer Perform to Outperform and moved their price target to $130, suggesting 35.29% additional upside for the stock.
Visteon Corporation (VC) received an upgrade from analysts at Wolfe Research, who also set their one-year price target on the stock to $175. They changed their rating on VC to Outperform from Peer Perform in a recently issued research note.
Earlier Thursday Telsey Advisory Group reduced its rating on Torrid Holdings Inc. (CURV) stock to Market Perform from Outperform and assigned the price target to $3.
Wolfe Research analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Fisker Inc. (FSR) has been changed to Underperform from Peer Perform and the new price target is set at $6.
Analysts at Wolfe Research downgraded QuantumScape Corporation (QS)'s stock to Underperform from Peer Perform Thursday.
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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Latest Insider Activity
Palantir Technologies Inc. (PLTR) See Remarks Karp Alexander C. announced the sale of shares taking place on Jun 05 at $15.40 for some 325,000 shares. The total came to more than $5.01 million.
Tesla Inc. (TSLA) Chief Financial Officer Kirkhorn Zachary sold on Jun 06 a total 7,403 shares at $215.51 on average. The insider’s sale generated proceeds of almost $1.6 million.
Skillz Inc. (SKLZ) Director Chessen Kevin declared the purchase of shares taking place on Jun 05 at $0.50 for some 50,000 shares. The transaction amount was around $24900.0.
Heliogen Inc. (HLGN) 10% Owner Nant Capital, LLC bought on Jun 02 a total 158,355 shares at $0.24 on average. The purchase cost the insider an estimated $38,749.
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Important Earnings
Top US earnings releases scheduled for today include FuelCell Energy Inc. (NASDAQ: FCEL). It will announce its Apr 2023 financial results. The company is expected to report earnings of -$0.07 per share from revenues of $25.45M in the three-month period.
Analysts expect Designer Brands Inc. (NYSE: DBI) to report a net income (adjusted) of $0.23 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2023 is predicted to come in at $754.28M.
DocuSign Inc. (DOCU), due to announce earnings after the market closes today, is expected to report earnings of $0.56 per share from revenues of $641.8M 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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