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- Dec - 04 - NH - Morning Newsletter (with survey at top and bottom)
Dec - 04 - NH - Morning Newsletter (with survey at top and bottom)
🔥 Ignite Your Portfolio – 4 Stocks on the Rise!
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Good Morning!
Stock futures faced a decline following the S&P 500's achievement of a new 2023 high, concluding a five-week winning streak. Dow Jones Industrial Average futures were down by 0.2%, while S&P 500 futures showed a 0.3% decrease, and Nasdaq 100 futures experienced a slight 0.37% decline.November represented the most favorable month for the 30-stock Dow since October 2022, with the S&P 500 and Nasdaq Composite marking their most significant monthly gains since July 2022.Investor attention is focused on the forthcoming November jobs report, set to release on Friday, to confirm the Federal Reserve's decision on ceasing rate hikes. According to economists surveyed by Dow Jones, an addition of 190,000 payrolls to the economy is expected.In premarket trading, Alaska Airlines witnessed a decline of over 9% following news of its agreement to acquire rival Hawaiian Airlines in a $1.9 billion deal. This strategic move aims to facilitate the expansion of both carriers along the West Coast.
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Today Top Movers
WiSA Technologies Inc (WISA) stock soared 154.7% to $0.3655 in the pre-market trading after announcing its first licensee of WiSA E software.
Hawaiian Holdings, Inc. (NASDAQ: HA) shares are trading up 177.57% at $13.49 at the time of writing after announcing a definitive agreement with Alaska Air Group, Inc. under which Alaska Airlines will acquire Hawaiian Airlines for $18.00 per share in cash.
Bit Brother Limited (BETS) grew over 103.61% at $0.079 in pre-market trading today. The company recently decalred that it has purchased 3300 units of Antminer S19 miners, injecting powerful momentum into its Bitcoin mining operations.
Coinbase Global Inc (COIN), a Financial Data & Stock Exchanges company, rose about 7.73% at $144.1 in pre-market trading Monday as Bitcoin gained momentum in the cryptocurrency world.
3 Top S&P 500 Stocks to Buy for 2024
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Top Upgrades & Downgrades
Mizuho turned bullish on General Motors Company (GM), upgrading the stock to Buy and assigning a $42 price target, representing potential upside of 28.87% from Friday's close.
3M Co. (MMM) has won the favor of Barclays' equity research team. The firm upgraded the shares from Underweight to Equal-Weight and moved their price target to $107, suggesting 6.73% additional upside for the stock.
Coca-Cola Europacific Partners Plc (CCEP) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $70. They changed their rating on CCEP to Buy from Neutral in a recently issued research note.
Earlier Monday UBS reduced its rating on Bilibili Inc ADR (BILI) stock to Neutral from Buy and assigned the price target to $13.2.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Citizens Financial Group Inc (CFG) has been changed to Equal-Weight from Overweight and the new price target is set at $31.
Analysts at Morgan Stanley downgraded Alcon Inc. (ALC)'s stock to Underweight from Equal-Weight Monday.
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Latest Insider Activity
Coupang Inc (CPNG) 10% Owner SVF Investments (UK) Ltd announced the sale of shares taking place on Nov 29 at $15.39 for some 30,000,000 shares. The total came to more than $461.7 million.
Natera Inc (NTRA) Director Chapman Rowan E sold on Nov 29 a total 1,998 shares at $55.97 on average. The insider’s sale generated proceeds of almost $0.11 million.
BioVie Inc (BIVI) President & CEO DO CUONG V declared the purchase of shares taking place on Nov 30 at $1.78 for some 10,000 shares. The transaction amount was around $17800.0.
Cricut Inc (CRCT) Director Makler Jason bought on Nov 30 a total 4,999 shares at $6.89 on average. The purchase cost the insider an estimated $34,441.
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Important Earnings
Top US earnings releases scheduled for today include Gitlab Inc (NASDAQ:GTLB). It will announce its Oct 2023 financial results. The company is expected to report earnings of -$0.01 per share from revenues of $141.49M in the three-month period.
Analysts expect JOANN Inc (NASDAQ:JOAN) to report a net income (adjusted) of -$0.21 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $547.2M.
Culp Inc. (CULP), due to announce earnings after the market closes today, is expected to report earnings of -$0.22 per share from revenues of $57.8M 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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