Top Analyst Downgrades Nike to Sell
Top Street analyst Sam Poser of Williams Trading criticizes Nike for losing appeal and failing to make significant improvements. He predicts a slight miss in Q3 earnings and a cut in FY24 guidance, leading to a downgrade from Hold to Sell with a price target of $85, implying a downside of ~15% from current levels.
HI-Bio™ Receives Orphan Drug Designation for Felzartamab Targeted Therapy
HI-Bio™ has received Orphan Drug Designation from the FDA for felzartamab, a targeted therapy for antibody-mediated rejection in kidney transplant recipients. This designation is a significant milestone in addressing the critical unmet medical need for AMR, with potential breakthrough implications. The Orphan Drug Designation qualifies HI-Bio for certain development incentives, expected to accelerate the development of felzartamab and enhance the company’s ability to bring this innovative therapy to patients in need.
FedEx Earnings Report Focuses on Turbulence at Express and Health of Ground Unit
When FedEx Corp. reports earnings after the market closes on Thursday, much of the focus will likely be on the poor results at the Express unit, the company’s largest by sales. Investors are keen to hear about the progress of Chief Executive Officer Raj Subramaniam’s cost-cutting plan and the rebound of air cargo. Ground, FedEx’s most profitable business, is also a concern as the era of large price increases may be over and there’s a danger that revenue per package may begin to slip.
Snapchat Unveils New AR-Powered Advertising Feature for Sponsored Filters
Snapchat introduces new AR-powered advertising feature, allowing brands to create sponsored filters for the platform. This innovative offering aims to provide a unique and engaging way for companies to connect with Snapchatters, showcasing the platform’s commitment to evolving its advertising capabilities.
Dubai’s Parkin Makes Impressive Debut on Dubai Financial Market with 30% Surge in Shares
Dubai’s Parkin, a leading parking operator, made an impressive debut on the Dubai Financial Market with shares surging over 30% during its oversubscribed IPO. The company raised a substantial 1.57 billion dirhams ($429 million) and is poised to capitalize on Dubai’s growing population, with residency visas increasing by 63% in the first half of 2023. Parkin’s successful IPO marks the UAE’s first public listing of the year, signaling a positive start for the regional market.
Stocks Set to Make Significant Moves in Premarket Trading
Stocks like Micron, Apple, Astera Labs, and Broadcom are set to make significant moves in the premarket. Micron’s strong earnings and revenue report, Apple’s plans to increase iPhone production, Astera Labs’ IPO, and Broadcom’s share buyback program are all driving market activity today.
Lawsuits filed against sugar producers for price-fixing
Class-action lawsuits filed in federal court in Minnesota accuse the nation’s largest sugar producers of violating antitrust law and conspiring to fix prices. The lawsuits allege an ongoing agreement to artificially raise, fix, stabilize, or maintain granulated sugar prices in the United States. The legal proceedings will likely shed light on the alleged antitrust violations and their impact on sugar prices in the country.
Three Short-Squeeze Stocks to Watch Beyond the Reddit IPO
Get ready for the next big short-squeeze opportunity in the stock market. Intuitive Machines (LUNR), Desktop Metal Inc (DM), and Blink Charging (BLNK) are three stocks with significant potential for short-squeeze and long-term investment success. While the Reddit IPO is creating buzz, these companies offer compelling standalone investment opportunities.
Maryland Attorney General Warns of Online Sports Betting Scams During March Madness
Maryland Attorney General Anthony Brown warns consumers about potential online sports betting scams during March Madness. Cybercriminals are targeting bettors with aggressive marketing tactics, emphasizing the need for caution and vigilance. Consumers are advised to research sportsbook platforms, check for complaints, and be wary of too-good-to-be-true promotions. Legitimate sports betting programs can be verified through the Maryland Lottery and Gaming Control Agency, and consumers are urged to report suspected scams to the AG’s Consumer Protection Division or the FBI.
Crucial Week For Crypto Market: Major Events To Expect (March 18th-24th)
The upcoming week is crucial for the crypto market, with major events like Nvidia’s GTC Conference, the Fed Interest Rate Decision, Reddit’s IPO, and the SEC vs. Ripple Open Briefing set to impact the market. Traders should stay alert for potential opportunities and risks as altcoins continue to drive market trends.