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- Jun 28 - NH - Morning Newsletter (with survey at top and bottom)
Jun 28 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Market Review: 4 Stocks that are Surging
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Good Morning!
Wednesday brings another exciting chapter to the market's story as traders pause to reflect on the previous session's exhilarating market rally.The stage is set with S&P 500 futures delicately inching lower, while Nasdaq-100 futures take a slight dip of 0.5%. On the other hand, the Dow Jones Industrial Average futures remain relatively unchanged, adding an air of anticipation to the day's proceedings.Yesterday's market performance saw a triumphant comeback as the Dow celebrated its first positive session in seven, closing with a remarkable surge of 0.63%. The S&P 500 and Nasdaq Composite soared even higher, recording gains of over 1% each. Tech stocks, which endured a challenging week prior, experienced a thrilling resurgence, igniting the rally.Investors are now preparing to mark the closure of the Nasdaq's best first half in 40 years, riding the waves of optimism surrounding the realm of artificial intelligence. This uplifting sentiment has propelled several mega-cap tech stocks to new heights, fueling the market's incredible momentum. The S&P 500 and Nasdaq Composite have outshined expectations, boasting year-to-date gains of 14% and an astonishing 29%, respectively.With such dramatic twists and turns in the market's narrative, today holds the promise of new surprises and opportunities. Stay tuned as the market continues to captivate with its unwavering spirit and the potential for further astonishing performances.
Five Top Summer Stocks to Buy and Hold Now
With the official start to summer is just days away, there's still time to load up on warmer-weather stocks. That includes your travel stocks, weight loss stocks, oil stocks, and even hurricane-related stocks, with storm-season kicking into high gear, too.
In fact, here are five with a history of moving every summer. Enjoy.
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Today Top Movers
Theriva Biologics Inc. (TOVX) stock soared 67.96% to $1.39 in the pre-market trading after announcing that U.S. FDA has granted orphan drug designation the for VCN-01 for the treatment of Pancreatic Cancer.
Black Diamond Therapeutics Inc. (NASDAQ: BDTX) shares are trading up 6.8% at $6.6 at the time of writing after releasing initial clinical data from the dose escalation portion of the Phase 1 clinical study of BDTX-1535.
National CineMedia Inc. (NCMI) grew over 7.36% at $0.3355 in pre-market trading today. The company declared its Plan of Reorganization has been confirmed by the United States Bankruptcy Court for the Southern District of Texas (the Court).
ASP Isotopes Inc. (ASPI), a Chemicals company, rose about 12.48% at $0.5399 in pre-market trading Wednesday. The company secured a $9 million supply contract with US Customer for Highly Enriched Isotopes.
This Graphite Company is leading the Electric Vehicle Revolution
Graphite has emerged as a vital material in the resource sector, gaining prominence primarily due to its essential role in electric vehicle (EV) batteries.
We found a little-known graphite company exploring the potential of this mineral and is currently flying under Wall Street's radar.
This company's operations are positioning them as a leader in a critical industry with growing demand.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on California Water Service Group (CWT), upgrading the stock to Equal-Weight and assigning a $56 price target, representing potential upside of 9.72% from Tuesday's close.
Pinterest Inc. (PINS) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $34, suggesting 28.79% additional upside for the stock.
XPO Inc. (XPO) received an upgrade from analysts at B of A Securities, who also set their one-year price target on the stock to $N/A. They changed their rating on XPO to Buy from Neutral in a recently issued research note.
Earlier Wednesday B of A Securities reduced its rating on Melco Resorts & Entertainment Limited (MLCO) stock to Neutral from Buy and assigned the price target to $14.
Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for American States Water Company (AWR) has been changed to Underweight from Equal-Weight and the new price target is set at $89.
Analysts at Exane BNP Paribas downgraded Vale S.A. (VALE)'s stock to Underperform from Neutral Wednesday.
Forget Tesla, THIS Could be the Biggest EV Investment Play in 2023
If you missed the boat on Tesla stocks, it's not too late! But don't follow the crowd and think EV makers are the most exciting investment. The smart money is focused on the miners that supply battery-grade lithium to EV manufacturers. With lithium demand expected to increase 10x by 2030, this industry is set to explode...
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Latest Insider Activity
Adaptimmune Therapeutics plc (ADAP) Chief Executive Officer Rawcliffe Adrian announced the sale of shares taking place on Jun 27 at $0.92 for some 2,333 shares. The total came to more than $2146.0.
Blink Charging Co. (BLNK) Dir. Former Chairman & CEO FARKAS MICHAEL D sold on Jun 27 a total 36,000 shares at $5.39 on average. The insider’s sale generated proceeds of almost $0.19 million.
Pebblebrook Hotel Trust (PEB) Chairman and CEO BORTZ JON E declared the purchase of shares taking place on Jun 23 at $12.66 for some 8,000 shares. The transaction amount was around $0.1 million.
Lexicon Pharmaceuticals Inc. (LXRX) Chief Executive Officer COATS LONNEL bought on Jun 26 a total 10,000 shares at $2.18 on average. The purchase cost the insider an estimated $21,792.
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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Important Earnings
Top US earnings releases scheduled for today include Micron Technology Inc. (NASDAQ: MU). It will announce its May 2023 financial results. The company is expected to report earnings of -$1.58 per share from revenues of $3.65B in the three-month period.
Analysts expect BlackBerry Limited (NYSE: BB) to report a net income (adjusted) of -$0.05 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2023 is predicted to come in at $160.35M.
Concentrix Corporation (CNXC), due to announce earnings after the market closes today, is expected to report earnings of $2.75 per share from revenues of $1.52B 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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