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- Dec - 06 - NH - Morning Newsletter (with survey at top and bottom)
Dec - 06 - NH - Morning Newsletter (with survey at top and bottom)
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Good Morning!
On Wednesday, U.S. stock futures showed an upward trend as both the S&P 500 and Dow Jones Industrial Average aimed to recover from a two-day decline. Futures linked to the 30-stock Dow demonstrated a 0.1% increase, equivalent to a 47-point rise. S&P 500 futures and Nasdaq 100 futures experienced gains of 0.3% and 0.4%, respectively.There is anticipation that as inflation decreases, companies may witness a decline in their pricing power, losing the ability to pass on prices to consumers. Analysts, like Senyek, also foresee heightened risk aversion and a slower growth in earnings that could exert additional pressure on stocks in the upcoming year.Traders are particularly attentive to Campbell Soup, slated to release its quarterly earnings before the opening bell on Wednesday.
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Today Top Movers
MicroAlgo Inc (MLGO) stock soared 56.61% to $3.79 in the pre-market trading after announcing that its Chinese companies, Shenzhen University Semiconductor Manufacturing Research Institute, and Haikou Comprehensive Free Trade Zone Management Committee plan to sign a cooperation agreement.
Greenbrook TMS Inc (NASDAQ: GBNH) shares are trading up 53.69% at $0.3412 at the time of writing. The company raised US$2.5 million in debt fInancing.
Bit Brother Limited (BETS) grew over 20.6% at $0.0404 in pre-market trading today after announcing pricing of $12.0 million registered direct offering.
SentinelOne Inc (S), a Software - Infrastructure company, rose about +19.45% at $23.89 in pre-market trading Wednesday following the release of third quarter fiscal year 2024 financial results.
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Top Upgrades & Downgrades
B. Riley Securities turned bullish on Builders Firstsource Inc (BLDR), upgrading the stock to Buy and assigning a $177 price target, representing potential upside of 20.82% from Tuesday's close.
Realty Income Corp. (O) has won the favor of Wolfe Research's equity research team. The firm upgraded the shares from Peer Perform to Outperform and moved their price target to $66, suggesting 18.96% additional upside for the stock.
Devon Energy Corp. (DVN) received an upgrade from analysts at JPMorgan. They changed their rating on DVN to Overweight from Neutral in a recently issued research note.
Earlier Wednesday Morgan Stanley reduced its rating on Plug Power Inc (PLUG) stock to Underweight from Equal-Weight and assigned the price target to $3.
HSBC analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Asana Inc (ASAN) has been changed to Reduce from Hold and the new price target is set at $18.
Analysts at JPMorgan downgraded Range Resources Corp (RRC)'s stock to Underweight from Neutral Wednesday.
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Latest Insider Activity
Gap, Inc. (GPS) President & CEO, Old Navy Barbeito Horacio announced the sale of shares taking place on Dec 01 at $20.10 for some 271 shares. The total came to more than $5438.0.
Alkami Technology Inc (ALKT) Chief Legal Officer Linebarger Douglas A. sold on Dec 05 a total 100,000 shares at $22.64 on average. The insider’s sale generated proceeds of almost $2.26 million.
HF Sinclair Corp. (DINO) Director MYERS FRANKLIN declared the purchase of shares taking place on Dec 05 at $54.79 for some 5,000 shares. The transaction amount was around $0.27 million.
Big Lots Inc (BIG) Director McCormick Christopher J bought on Dec 01 a total 12,000 shares at $6.29 on average. The purchase cost the insider an estimated $75,480.
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Important Earnings
Top US earnings releases scheduled for today include ChargePoint Holdings Inc (NYSE:CHPT). It will announce its Oct 2023 financial results. The company is expected to report earnings of -$0.22 per share from revenues of $122.41M in the three-month period.
Analysts expect Gamestop Corporation (NYSE:GME) to report a net income (adjusted) of -$0.08 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $1.18B.
Chewy Inc (CHWY), due to announce earnings after the market closes today, is expected to report earnings of -$0.06 per share from revenues of $2.76B 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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