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- May 01 - NH - Morning Newsletter (with survey at top and bottom)
May 01 - NH - Morning Newsletter (with survey at top and bottom)
The Morning Market Report: Stay Ahead of the Curve
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Good Morning!Get ready for a strong start to the week as U.S. stock futures soar! After a successful April, the Dow Jones Industrial Average reported its best month since January, boosting futures tied to the Dow by 6 points or 0.02%. The S&P 500 and Nasdaq-100 futures also rose, up 0.07% and 0.09% respectively. Stocks had a winning week and month in April, with the Dow gaining 2.5%, marking its best stretch in months. While the tech-heavy index posted marginal gains, earnings reports from major tech companies shone, exceeding expectations and easing macroeconomic concerns. So far, over half of S&P 500 companies have reported earnings, with more than 79% and about 72% surpassing earnings and sales expectations, respectively.Excitement is building as investors eagerly anticipate the Federal Reserve's rate hike decision set to be announced on Wednesday. As of Sunday evening, 79% of traders predict a 25 basis point rate hike according to CME Group's FedWatch tool. The eyes of Wall Street will be focused on remarks from Fed Chair Jerome Powell, who could offer vital clues into the central bank's forward policy path. The week promises to be a busy one for earnings too, with Norwegian Cruise Line and MGM Resorts leading the charge on Monday. Later in the week, reports from Pfizer, Starbucks, Advanced Micro Devices and CVS Health are due out, so hold on tight for the ride ahead!
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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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Today Top Movers
Apollomics Inc. (APLM) stock soared +65.30% to $7.67 in the pre-market trading following the 20-F filing with the SEC.
Intelligent Living Application Group Inc. (NASDAQ: ILAG) shares are trading up +28.16% at $1.32 at the time of writing. The company recently filed a 20-F form with SEC.
IVERIC bio Inc. (ISEE) grew over +18.03% at $38.82 in pre-market trading today after announcing a definitive agreement with Astellas Pharma Inc..
Biodexa Pharmaceuticals Plc (BDRX), a Biotechnology company, jumped about 8.44% at $0.24 in pre-market trading Monday. The company recently declared its audited preliminary results for the year ended 31 December 2022.
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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Top Upgrades & Downgrades
BMO Capital turned bullish on IAMGOLD Corporation (IAG), upgrading the stock to Outperform and assigning a $3.25 price target, representing a potential upside of 14.04% from Friday's close.
Otis Worldwide Corporation (OTIS) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Underweight to Equal-Weight and moved their price target to $88, suggesting a 3.19% additional upside for the stock.
The Manitowoc Company Inc. (MTW) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $17. They changed their rating on MTW to Equal-Weight from Underweight in a recently issued research note.
Earlier Monday Goldman Sachs reduced its rating on Exxon Mobil Corporation (XOM) stock to Neutral from Buy and assigned the price target to $125.
JonesTrading analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Hanmi Financial Corporation (HAFC) has been changed to Hold from Buy.
Analysts at BofA downgraded ArcBest Corporation (ARCB)'s stock to Underperform from Neutral Monday.
#1 Green Hydrogen Profit-Stock Below 20-cents
Green hydrogen has been gaining a TON of momentum of late as the clean-burning fuel industry analysts say could supply up to 25% of the world's energy needs by 2050. The biggest profit opportunities will be in green hydrogen storage in giant salt domes. This tiny firm, trading below US$0.20 per share, just confirmed multiple salt dome anomalies in Canada's top green-energy district.
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Latest Insider Activity
Roivant Sciences Ltd. (ROIV) President & COO Venker Eric announced the sale of shares taking place on Apr 28 at $8.47 for some 75,823 shares. The total came to more than $0.64 million.
Block Inc. (SQ) Square Lead Henry Alyssa sold on Apr 26 a total of 30,769 shares at $61.27 on average. The insider’s sale generated proceeds of almost $1.89 million.
Akamai Technologies Inc. (AKAM) Chief Executive Officer LEIGHTON F THOMSON declared the purchase of shares taking place on Apr 28 at $81.41 for some 308 shares. The transaction amount was around $25074.0.
NextEra Energy Partners LP (NEP) Director Kind Peter H bought on Apr 27 a total of 1,750 shares at $56.89 on average. The purchase cost the insider an estimated $99,558.
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Important Earnings
Top US earnings releases scheduled for today include Stryker Corporation (NYSE:SYK). It will announce its Mar 2023 financial results. The company is expected to report earnings of $2 per share from revenues of $4.56B in the three-month period.
Analysts expect Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) to report a net income (adjusted) of $3.01 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2023 is predicted to come in at $2.34B.
Arista Networks Inc. (ANET), due to announce earnings after the market closes today, is expected to report earnings of $1.34 per share from revenues of $1.31B 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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