🌅 Morning Market Leaders – Today's 4 Top Choices!

Good Morning!

Stock futures remained relatively steady on Monday evening, as investors awaited the market's response to the upcoming inflation data. Dow Jones Industrial Average futures edged up by 20 points (0.05%), S&P 500 futures hovered around the neutral line, and Nasdaq 100 futures saw a slight increase of 0.17%.

The previous session witnessed a modest uptick in stocks, signaling the continued strength of the end-of-year market surge. The S&P 500 hit its highest level since March 2022, while the Dow reached its peak since January 2022, showcasing a positive trend over the past three days.

With three-day winning streaks across the Dow, S&P 500, and Nasdaq Composite, along with six consecutive weeks of gains, Tuesday's release of the November consumer price index and the start of the Federal Reserve's final meeting of the year could challenge investor sentiment.

Moreover, tech giant Oracle's earnings news contributed to after-hours trading woes, as its fiscal second-quarter revenue failed to meet Wall Street's expectations, resulting in a 7% decline in its stock value.

Today Top Movers

Bruush Oral Care Inc. (BRSH) stock soared 43.22% to $0.2333 in the pre-market trading following the filing of 6-K form with the SEC.

Connect Biopharma Holdings Ltd ADR (NASDAQ: CNTB) shares are trading up 21.11% at $1.09 at the time of writing following the release of positive topline results from the global Phase 2b trial evaluating rademikibart efficacy and safety in adult patients with moderate-to-severe persistent asthma.

IN8bio Inc (INAB) grew over 22.66% at $1.57 in pre-market trading today after declaring positive clinical update demonstrating continued durable complete remission in 100% of evaluable patients in phase 1 trial of INB-100 in Leukemia.

Icosavax Inc (ICVX), a Biotechnology company, rose about 45.47% at $15.26 in pre-market trading Tuesday after announcing agreement to be acquired by AstraZeneca.

Top Upgrades & Downgrades

RBC Capital turned bullish on AMGEN Inc. (AMGN), upgrading the stock to Outperform and assigning a $300 price target, representing potential upside of 8.76% from Monday's close.

HP Inc (HPQ) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $35, suggesting 15.25% additional upside for the stock.

Ralph Lauren Corp (RL) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $132. They changed their rating on RL to Neutral from Sell in a recently issued research note.

Earlier Tuesday Barclays reduced its rating on Expedia Group Inc (EXPE) stock to Equal-Weight from Overweight and assigned the price target to $150.

Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Airbnb Inc (ABNB) has been changed to Underweight from Equal-Weight and the new price target is set at $100.

Analysts at Deutsche Bank downgraded Gol Linhas Aereas Inteligentes S.A. ADR (GOL)'s stock to Sell from Hold Tuesday.

Latest Insider Activity

Velo3D Inc (VLD) Chief Executive Officer Buller Benyamin announced the sale of shares taking place on Dec 11 at $0.59 for some 2,000 shares. The total came to more than $1176.0.

Bakkt Holdings Inc (BKKT) Director Collins Sean Roberts sold on Dec 11 a total 51 shares at $1.67 on average. The insider’s sale generated proceeds of almost $85.0.

Alaska Air Group Inc. (ALK) CEO AND PRESIDENT MINICUCCI BENITO declared the purchase of shares taking place on Dec 07 at $36.27 for some 56 shares. The transaction amount was around $2031.0.

Green Plains Inc (GPRE) President and CEO Becker Todd A bought on Dec 11 a total 960 shares at $24.68 on average. The purchase cost the insider an estimated $23,693.

Important Earnings

Top US earnings releases scheduled for today include Loop Media Inc (AMEX:LPTV). It will announce its Sep 2023 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $5.88M in the three-month period.

Analysts expect Mama's Creations Inc. (NASDAQ:MAMA) to report a net income (adjusted) of $0.04 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $26.91M.

System1 Inc (SST), due to announce earnings after the market closes today, is expected to report earnings of -$0.41 per share from revenues of $140.39M 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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