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- Jun 14 - NH - Morning Newsletter (with survey at top and bottom)
Jun 14 - NH - Morning Newsletter (with survey at top and bottom)
The Early Investor’s Edge: 4 Stocks to Watch Today
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Good Morning!
The U.S. stock market held its breath on Wednesday as anticipation mounted ahead of the Federal Reserve's highly anticipated interest-rate decision. The stage is set for a potential market shake-up or a sigh of relief.Futures for the Dow Jones Industrial Average took a slight dip of 0.1%, equivalent to 41 points, resting at 34,490. On the other hand, the S&P 500 index futures experienced a modest rise of 0.2%, while the tech-heavy Nasdaq index mirrored the increase at 0.2% as well.In a positive turn of events, stocks soared on Tuesday following the release of inflation data, indicating a slowdown in consumer price gains. This reinforced the prevailing expectation that the Fed would maintain interest rates at their current level this month, after implementing increases at each meeting since March 2022. However, investors remain keenly aware that the campaign of rate hikes may resume in July, given that the inflation rate still surpasses the central bank's target.According to Deutsche Bank analyst Jim Reid, investors remain convinced that today's decision will signify a "skip" in rate hikes rather than a complete pause. Reid adds, "The accompanying statement will note the potential for more tightening at 'coming meetings.'"All eyes are now on Fed Chairman Jerome Powell, who will provide a detailed explanation of the decision during a highly anticipated press conference scheduled for later on Thursday. The outcome of this announcement promises to leave a lasting impact on the market landscape. Stay tuned for the revelations that lie ahead.
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Today Top Movers
WiSA Technologies Inc. (WISA) stock soared 62.02% to $2.09 in the pre-market trading after declaring that it is now taking pre-orders for its WiSA E development kits.
Oncorus Inc. (NASDAQ: ONCR) shares are trading up 21.23% at $0.0885 at the time of writing after filing PRE 14A form with the SEC.
T2 Biosystems Inc. (TTOO) grew over +17.5% at $0.0732 in pre-market trading today following the filing of SC 13G form with SEC.
Nikola Corporation (NKLA), a Farm & Heavy Construction Machinery company, rose about +13.79% at $1.04 in pre-market trading Wednesday after announcing that it would adjourn and reconvene its annual meeting of stockholders on July 6, 2023.
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Top Upgrades & Downgrades
Raymond James turned bullish on IPG Photonics Corporation (IPGP), upgrading the stock to Outperform and assigning a $170 price target, representing potential upside of 45.22% from Tuesday's close.
HSBC Holdings plc (HSBC) has won the favor of CICC's equity research team. The firm upgraded the shares from Market Perform to Outperform.
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) received an upgrade from analysts at Citi. They changed their rating on HEPS to Buy from Neutral in a recently issued research note.
Earlier Wednesday Citi reduced its rating on Logitech International S.A. (LOGI) stock to Neutral from Buy.
B. Riley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Cinemark Holdings Inc. (CNK) has been changed to Buy from Neutral.
Analysts at Jefferies downgraded Catalent Inc. (CTLT)'s stock to Hold from Buy Wednesday.
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Latest Insider Activity
Opendoor Technologies Inc. (OPEN) Director Wu Eric Chung-Wei announced the sale of shares taking place on Jun 09 at $2.51 for some 500,000 shares. The total came to more than $1.25 million.
Unity Software Inc. (U) Principal Accounting Officer Barrysmith Mark sold on Jun 12 a total 8,620 shares at $36.27 on average. The insider’s sale generated proceeds of almost $0.31 million.
Vertiv Holdings Co (VRT) CTO & EVP, Infra. & Solutions Liang Stephen declared the purchase of shares taking place on Jun 09 at $21.18 for some 35,001 shares. The transaction amount was around $0.74 million.
Advance Auto Parts Inc. (AAP) Director Pertz Douglas A bought on Jun 12 a total 4,575 shares at $66.02 on average. The purchase cost the insider an estimated $302,058.
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Important Earnings
Top US earnings releases scheduled for today include Aurora Cannabis Inc. (NASDAQ: ACB). It will announce its Mar 2023 financial results. The company is expected to report earnings of -$0.05 per share from revenues of $48.72M in the three-month period.
Analysts expect Lennar Corporation (NYSE: LEN) to report a net income (adjusted) of $2.32 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2023 is predicted to come in at $7.18B.
AMMO Inc. (POWW), due to announce earnings after the market closes today, is expected to report earnings of -$0.01 per share from revenues of $37.18M 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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