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- Jun 23 - NH - Morning Newsletter (with survey at top and bottom)
Jun 23 - NH - Morning Newsletter (with survey at top and bottom)
The Early Bird’s Advantage: 4 Stocks to Invest in Today
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Good Morning!
Wall Street is bracing for a challenging end to the week as stock futures dipped on Friday. The S&P 500 futures slid by 0.5%, while Nasdaq-100 futures faced a 0.7% decline. The Dow Jones Industrial Average futures fell by 116 points, indicating a 0.3% drop. This week has witnessed a break in the multiweek winning streak for all three major averages. The Dow and S&P 500 have recorded losses of 1% and 0.6% respectively, while the Nasdaq is on track for its worst weekly performance since April, down 0.4% and snapping an eight-week winning streak. As the week draws to a close, economic data remains relatively light, with S&P Global PMI composite data for June being a key focus. Additionally, investors eagerly await earnings reports from CarMax.
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Today Top Movers
OncoSec Medical Incorporated (ONCS) stock soared +119.7% to $0.4618 in the pre-market trading following the filing of 8-K form with the SEC.
Trupanion Inc. (NASDAQ: TRUP) shares are trading up +12.45% at $23.12 at the time of writing. The company recently provided the updates on its rate filing approval status in California and New York.
CarMax Inc. (KMX) grew over +11.59% at $87.4 in pre-market trading today after reporting results for the first quarter ended May 31, 2023.
IonQ Inc. (IONQ), a Computer Hardware company, rose about +8.59% at $10.24 in pre-market trading Friday after announcing that the Company is increasing its 2023 bookings expectations by twenty five percent (25%) to a range of $45 million to $55 million.
Copper Company Reaches Agreement To Expand Copper-Gold Project
Investors - this copper company recently reached an agreement to expand its copper-gold project. Copper is the third most-consumed industrial metal in the world and massive infrastructure spending is expected to drive the price of copper to new all-time highs. This company has solid market fundamentals and a proven track record.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on Evotec SE (EVO), upgrading the stock to Overweight and assigning a $16 price target, representing potential upside of 42.79% from Thursday's close.
Ventas Inc. (VTR) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Outperform to Strong Buy and moved their price target to $55, suggesting 23.62% additional 23.62 for the stock.
Principal Financial Group Inc. (PFG) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $65. They changed their rating on PFG to Hold from Underperform in a recently issued research note.
Earlier Friday Wells Fargo reduced its rating on Under Armour Inc. (UAA) stock to Equal-Weight from Overweight and assigned the price target to $8.
TD Cowen analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Accenture plc (ACN) has been changed to Market Perform from Outperform and the new price target is set at $300.
Analysts at Barclays downgraded Viatris Inc. (VTRS)'s stock to Underweight from Equal-Weight Friday.
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."
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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
Owlet Inc. (OWLT) Chief Financial Officer Scolnick Kathryn R. announced the sale of shares taking place on Jun 22 at $0.33 for some 13,443 shares. The total came to more than $4436.0.
HashiCorp Inc. (HCP) Chief Technology Officer Dadgar Armon sold on Jun 22 a total 12,376 shares at $26.76 on average. The insider’s sale generated proceeds of almost $0.33 million.
TransCode Therapeutics Inc. (RNAZ) Chief Executive Officer Dudley Robert Michael declared the purchase of shares taking place on Jun 21 at $2.65 for some 12,000 shares. The transaction amount was around $31818.0.
CAVA Group Inc. (CAVA) Director Xenohristos Theodoros bought on Jun 20 a total 4,500 shares at $22.00 on average. The purchase cost the insider an estimated $99,000.
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Important Earnings
Top US earnings releases scheduled for today include Apogee Enterprises Inc. (NASDAQ: APOG). It will announce its May 2023 financial results. The company is expected to report earnings of $0.9 per share from revenues of $354.77M in the three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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