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- Jun 26 - NH - Morning Newsletter (with survey at top and bottom)
Jun 26 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Stock Forecast: 4 Stocks with Strong Growth Potential
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Good Morning!
Monday morning kicks off with a curious dance on Wall Street, as stock futures slide in anticipation of the market's next move. It's a crucial week—the final stretch of June—and investors are itching to see if the market rally can gather more steam.The Dow Jones Industrial Average, ever the showstopper, takes a slight dip of 28 points, barely 0.1%. Not far behind, the S&P 500 futures and Nasdaq-100 futures also waver, down by a modest 0.2%. The momentum from last week's rally seemed to fizzle out, leaving investors on their toes.The Nasdaq Composite, known for its tech-heavy presence, stumbled by 1.44%, breaking its impressive eight-week winning streak. The S&P 500 also had its shine tarnished, dipping 1.01%, putting an end to its five-week victorious run. Even the Dow, which hasn't been shining brightly this year, experienced a setback, shedding 1.67% and snapping its three-week streak of positive gains.While the economic reports and corporate earnings are relatively light this week, a few key players step into the spotlight. Keep an eye on Walgreens Boots Alliance, slated to make waves on Tuesday, and Nike, which takes the stage on Thursday. Their performance could sway the market's mood.But it's not just domestic affairs that hold the market's attention. Across the pond in Europe, Russia faced a surprising challenge as a private military group rebelled over the weekend. The uncertainty surrounding this situation is likely to cast a shadow of unease over the markets, making it a key factor to watch.
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Today Top Movers
TRxADE HEALTH Inc. (MEDS) stock soared 61.73% to $13.65 in the pre-market trading after announcing merger agreement with Superlatus, Inc.
Biomea Fusion Inc. (NASDAQ: BMEA) shares are trading up +24.98% at $38.33 at the time of writing. The company announced the presentation of new clinical data from the first two cohorts of patients with T2D enrolled in the Phase II portion of its ongoing Phase I/II clinical study of BMF-219, the company’s investigational oral covalent menin inhibitor.
INVO Bioscience Inc. (INVO) grew over +87.58% at $0.3095 in pre-market trading today after filing the S-1 form with the SEC.
Lucid Group Inc. (LCID), a Auto Manufacturers company, rose about 7.31% at $5.87 in pre-market trading Monda after announcing that it has entered into a definitive agreement to establish a long-term strategic technology partnership with Aston Martin to accelerate the iconic British brand's high-performance electrification strategy and long-term growth.
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Top Upgrades & Downgrades
UBS turned bullish on Moderna Inc. (MRNA), upgrading the stock to Buy and assigning a $191 price target, representing potential upside of 61.18% from Friday's close.
Sotera Health Company (SHC) has won the favor of Keybanc's equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $24, suggesting 33.41% additional upside for the stock.
Alliant Energy Corporation (LNT) received an upgrade from analysts at B of A Securities, who also set their one-year price target on the stock to $58. They changed their rating on LNT to Buy from Neutral in a recently issued research note.
Earlier Monday UBS reduced its rating on Alphabet Inc. (GOOG) stock to Neutral from Buy and assigned the price target to $132.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Tesla Inc. (TSLA) has been changed to Neutral from Buy and the new price target is set at $248.
Analysts at Jefferies downgraded CalAmp Corp. (CAMP)'s stock to Hold from Buy Monday.
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Latest Insider Activity
Salesforce Inc. (CRM) President and COO Millham Brian announced the sale of shares taking place on Jun 23 at $209.63 for some 1,686 shares. The total came to more than $0.35 million.
Flex Ltd. (FLEX) Group President Tan Kwang Hooi sold on Jun 21 a total 5,020 shares at $26.97 on average. The insider’s sale generated proceeds of almost $0.14 million.
The Arena Group Holdings Inc. (AREN) 10% Owner B. Riley Financial, Inc. declared the purchase of shares taking place on Jun 23 at $3.65 for some 102,197 shares. The transaction amount was around $0.37 million.
Universal Technical Institute Inc. (UTI) Director Coliseum Capital Management, L bought on Jun 23 a total 262,658 shares at $6.70 on average. The purchase cost the insider an estimated $1.76 million.
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Important Earnings
Top US earnings releases scheduled for today include Carnival Corporation & plc (NYSE: CCL). It will announce its May 2023 financial results. The company is expected to report earnings of -$0.34 per share from revenues of $4.77B in the three-month period.
Analysts expect Carnival Corporation & plc (NYSE: CUK) to report a net income (adjusted) of $0 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Nov 2022 is predicted to come in at $20.42B.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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