💪 Stock STRENGTH! Searching for Investing Inspiration Amid Market Fightback...
💪 Stock STRENGTH! Searching for Investing Inspiration Amid Market Fightback...
A huge week for equities saw markets rebound as inflation cooled. Find out about the top movers, rising oil prices and IPO info in this edition of Investing Intel...
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Market Snapshot (Past Week)
S&P500: $4,358.34 (+5.29%)
Dow Jones Industrial Average: $34,061.32 (+4.68%)
Nasdaq Composite: $13,478.28 (+5.71%)
Russell 2000: $1,760.70 (+6.95%)
S&P/TSX Composite Index: $19,824.85 (+5.48%)
PHLX Gold and Silver Sector: $116.25 (+0.84%)
The Biggest Investing Stories From the Last 7 Days
Last week saw markets rebound in a big way, with markets buoyed by numerous earnings releases and hopes that Fed efforts to curb inflation have paid off. With a much lighter week ahead as earnings season dries up, investors will be hoping for another positive week.
Amidst this positivity, we’ve delved into oil price changes, trouble in Asia’s manufacturing sector and some IPO rumblings. Find out more below…
🛢️ Oil Prices Nudge Higher as OPEC+ Maintains Supply Cuts
Crude oil prices saw a modest rise as Saudi Arabia and Russia confirmed their commitment to maintain a reduced oil supply throughout the year. Brent crude reached above $85 a barrel, and West Texas Intermediate approached $81. This decision aligns with a decrease in oil prices by over 6% the previous week due to a diminished risk premium from the Israel-Hamas conflict and concerns over declining global demand.
🌏 Asian Manufacturers Face Growing Pressure
In October, Asia's manufacturing sector faced increasing challenges, as factory activity in major economies like China, Japan, and South Korea contracted. China's Caixin/S&P Global manufacturing PMI fell below the growth threshold, reflecting weak demand and uncertainties in the country's economy.
🏡 Pineapple Financial Sets $4 Share Price for PAPL IPO
Pineapple Financial Inc., a leading Canadian tech-centric mortgage brokerage, has announced the details of its initial public offering (IPO). The company plans to offer 875,000 common shares at a price of US$4.00 each, aiming to commence trading on the NYSE American Exchange on November 1, 2023, under the ticker symbol "PAPL."
🚙 Tesla Targets Mass Market with 25,000 Euro EV
Tesla is gearing up to produce an electric vehicle (EV) priced at 25,000 euros from its Berlin factory, marking a significant stride toward broader adoption of its EVs. This move comes without a specified start date for production and amidst Tesla's silence on the matter. Elon Musk's recent visit to the Gruenheide plant and his interaction with the employees underscored this initiative.
📱Klarna's IPO Plans: A New Frontier for Investors
Klarna Bank AB, the Swedish buy-now-pay-later provider, has successfully averted a potential strike by reaching a collective bargaining agreement with the Financial Sector Union of Sweden. This development is notable in the context of Klarna's rumored stock-market listing, which is expected to value the company at over $15 billion.
Investing Signals
📈Top 5 Gainers in the last 7 days
Cellectis S.A. CLLS 0.00%↑ - $2.86 (+183.73%) - This stock rocketed on the news that pharma giant AstraZeneca will take a 22% stake in the business.
Northann Corp. NCL 0.00%↑ - $16.52 (+81.14%) - This stock is a recent addition to the NYSEAMERICAN index, with the 3D printing company having soared.
Verve Therapeutics, Inc VERV 0.00%↑ - $15.58 (+76.24%) - This company has seen its stock rise after Eli Lilly bought a $200m stake in the business.
Wrap Technologies, Inc WRAP 0.00%↑ - $3.01 (+72.99%) - This stock has climbed ahead of an earnings update on 9 November.
Alpine Immune Sciences, Inc ALPN 0.00%↑ - $16.07 (+72.80%) - Initial clinical data for this company’s Povetacicept therapy painted a positive picture, sending its share price higher.
Note: Figures from StockAnalysis.com - Settings: Market Cap > $100M, Stock Price > $1, Period last 7 Days. All prices are correct as of pre-market on 25 September.
📉Top 5 losers in the last 7 days
reAlpha Tech Corp. AIRE 0.00%↑ - $8.99 (-61.20%) - This Dublin-based business is a new fixture on the NASDAQ, but suffered a major drop in price over its first full week.
Confluent, Inc CFLT 0.00%↑ - $17.75 (-34.79%) - This data software specialist plummeted when its third-quarter earnings included weaker-than-expected guidance.
Paycom Software, Inc PAYC 0.00%↑ - $159.02 (-33.84%) - Earnings were also responsible for Paycom’s share price decline, with the business falling short of revenue expectations.
CommScope Holding Company, Inc COMM 0.00%↑ - $1.63 (-32.64%) - This company’s earnings fell short of Wall Street’s expectations too, with a major sales decline spooking investors.
Lifezone Metals Limited LZM 0.00%↑ - $7.15 (-29.20%) - This battery metals stock declined sharply despite no apparent newsflow.
Note: Figures from StockAnalysis.com - Settings: Market Cap > $100M, Stock Price > $1, Period last 7 Days. All prices are correct as of pre-market on 25 September.
Stocks Trending on Google Search
Google Search trends are a good indicator of investor trends and interests and a good indicator of stocks you should research to see why they are popular and whether this is a good investment for you.
Wework Inc
WE 0.00%↑
Share Price: $0.84
Weekly Change: -66.85%
Google Search Interest: +650%
This co-working space specialist, a former pandemic darling, is teetering on the edge of bankruptcy. The home-working revolution appears to have damaged the company’s prospects beyond repair, with its share price having declined from its peak by more than 99%.
Sarepta Therapeutics Inc
SRPT 0.00%↑
Share Price: $78.01
Weekly Change: -27.74%
Google Search Interest: +500%
This gene therapy outfit has generated significant interest due to the strong showing of its muscular dystrophy treatment. It achieved strong sales figures of $69.1m in its first quarter of commercial availability.
Lumen Technologies Inc
LUMN 0.00%↑
Share Price: $1.12
Weekly Change: -18.84%
Google Search Interest: +450%
Restructuring has been the order of the day at Lumen, with the company selling off its EMEA business for $1.8bn. Additionally, the company’s third-quarter earnings missed Wall Street’s expectations, leaving some to feel that its turnaround efforts are doomed.
Fortinet Inc
$GOOGL
Share Price: $50.48
Weekly Change: -10.72%
Google Search Interest: +400%
For approximately the 1000th time in this edition of Investing Intel, we’re talking earnings. Fortinet was another to fall short with its latest update. The cybersecurity company's near-term guidance has left investors particularly concerned, leading to a significant decline in share price.
elf Beauty Inc
ELF 0.00%↑
Share Price: $96.15
Weekly Change: -6.71%
Google Search Interest: +350%
This cosmetics brand had a mixed bag of a week. The company’s earnings beat expectations and it raised guidance, with CEO Tarang Amin delightedly boasting that elf “doubled our market share in the last three years”. However, this seems to have left investors unimpressed, with the company’s share price declining across the full week.
Alternate Investing Signals
r/WallStreetBets
AMD - AMD 0.00%↑ - Mentions: 565
This week, semiconductor giant AMD was a hot topic among Reddit users, who picked apart the company’s latest earnings update. In particular, users noted that high-profile analysts’ 12-month price targets for the stock have declined by approximately 15%.
Roku Inc - ROKU 0.00%↑ - Mentions: 90
This streaming giant was generating discussion courtesy of its earnings too, with a large portion of users appearing to enthusiastically back the stock despite a chaotic few months. Indeed, one user’s bearish pre-earnings take on the stock was widely mocked by users lauding the stock’s gains of almost 50% this week.
Top Reads
👨🏻⚖️ If Sam Bankman-Fried’s trial was a big test for crypto, why did Bitcoin reach 12-month highs during the FTX founder’s conviction? The Guardian’s Blake Montgomery finds out more.
🇨🇳 Figures from China due for release this week are expected to show consumer prices slipping into deflation. Bloomberg explores what this means for the country’s economic recovery.
🚙 Tesla and Toyota could be the next auto-makers to be hit by major strike action. CNBC’s Michael Wayland and Lora Kolodny explore why.
🇺🇸 Hedge fund manager Ken Griffin thinks US regulators ought to be going after the nation’s banks. The Financial Times has more from Costas Mourselas and Harriet Agnew.
Meme of the Week
