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- Dec - 05 - NH - Morning Newsletter (with survey at top and bottom)
Dec - 05 - NH - Morning Newsletter (with survey at top and bottom)
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Good Morning!
On Tuesday, stock futures declined as the previous Wall Street upsurge seemed to slow down. Dow Jones Industrial Average futures dropped by 69 points (0.2%), while S&P 500 futures and Nasdaq 100 futures decreased by 0.3% and 0.6% respectively.Ahead of the market opening, GitLab's shares surged by 16% following the open-source software development platform surpassing quarterly earnings expectations and providing robust guidance for the current quarter.Despite the Federal Reserve's "blackout period," limiting comments from its officials, investors are keenly observing economic developments. The focus today is on the latest Job Openings and Labor Turnover Survey report, anticipating insights into the labor market.
Recent Reports Are A Wake-Up Call For Investors
As the demand for lithium, an essential element to the energy revolution, increases globally, researchers are projecting a supply deficit as early as 2025. This has sparked a worldwide "gold rush" to find and develop new sources of this critical metal. Savvy investors are paying attention as mining companies race to meet this critical deadline.
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Today Top Movers
NeuroSense Therapeutics Ltd (NRSN) stock soared 42.95% to $2.13 in the pre-market trading. The company will report new data from the randomized, placebo-controlled, double-blind segment of its ongoing Phase 2b amyotrophic lateral sclerosis (ALS) trial (PARADIGM) of its lead drug candidate PrimeC.
Gitlab Inc (NASDAQ: GTLB) shares are trading up 14.21% at $60.45 at the time of writing following the release of third quarter fiscal year 2024 financial results.
Volato Group Inc (SOAR) grew over 282.39% at $33.65 in pre-market trading today after announcing an agreement with Fly Alliance, to offer expanded aircraft options to its Gulfstream G280, HondaJet and Volato Insider Program Max customers.
ZeroFox Holdings Inc (ZFOX), a Software - Infrastructure company, rose about 23.15% at $0.83 in pre-market trading Tuesday after reporting third quarter fiscal year 2024 financial results.
Wall Street Insider Makes Prediction about Hot A.I. Stock
50-year Wall Street Veteran Marc Chaikin just detailed why he's avoiding NVDA and buying this overlooked A.I. stock instead.
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Top Upgrades & Downgrades
JP Morgan turned bullish on Apellis Pharmaceuticals Inc (APLS), upgrading the stock to Overweight and assigning a $30 price target, representing potential upside of 29.47% from Monday's close.
XP Inc (XP) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $30, suggesting 31.18% additional upside for the stock.
Integra Lifesciences Holdings Corp (IART) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $49. They changed their rating on IART to Overweight from Equal-Weight in a recently issued research note.
Earlier Tuesday Mizuho reduced its rating on Prologis Inc (PLD) stock to Neutral from Buy and assigned the price target to $125.
JMP Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Ares Commercial Real Estate Corp (ACRE) has been changed to Market Perform from Market Outperform.
Analysts at Keefe, Bruyette & Woods downgraded Equitable Holdings Inc (EQH)'s stock to Market Perform from Outperform Tuesday.
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Latest Insider Activity
Charles Schwab Corp. (SCHW) Director Schwab-Pomerantz Carolyn announced the sale of shares taking place on Nov 30 at $61.28 for some 12,208 shares. The total came to more than $0.75 million.
Houlihan Lokey Inc (HLI) GENERAL COUNSEL CRAIN CHRISTOPHER M sold on Dec 01 a total 1,000 shares at $107.17 on average. The insiderās sale generated proceeds of almost $0.11 million.
Petco Health and Wellness Co Inc (WOOF) Director BRIGGS GARY S declared the purchase of shares taking place on Dec 01 at $3.33 for some 30,000 shares. The transaction amount was around $99924.0.
NCR Voyix Corp (VYX) Director Reddy Kevin Michael bought on Dec 01 a total 6,250 shares at $16.05 on average. The purchase cost the insider an estimated $100,312.
3 Top S&P 500 Stocks to Buy for 2024
After a rough outing in 2022, 2023 has been explosive.
In fact, since the year began, major indices, like the S&P 500 are up about 15% year to date. Heading into New Year 2024, things could get even better.
That said, here are three "no brainer" stocks to consider.
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Important Earnings
Top US earnings releases scheduled for today include SentinelOne Inc (NYSE:S). It will announce its Oct 2023 financial results. The company is expected to report earnings of -$0.08 per share from revenues of $156.09M in the three-month period.
Analysts expect MongoDB Inc (NASDAQ:MDB) to report a net income (adjusted) of $0.5 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $403.65M.
Asana Inc (ASAN), due to announce earnings after the market closes today, is expected to report earnings of -$0.11 per share from revenues of $164.14M 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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