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- Nov - 06 - NH - Morning Newsletter (with survey at top and bottom)
Nov - 06 - NH - Morning Newsletter (with survey at top and bottom)
Fuel Your Portfolio: 4 Stocks Taking Flight This Morning
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Good Morning!
U.S. equity futures showed little movement on Monday following an impressive week for the major stock indices.Futures linked to the Dow Jones Industrial Average inched up by 0.07%, gaining 24 points. S&P 500 futures also saw a slight uptick of 0.03%, while Nasdaq 100 futures remained just below the flat line, rising by 0.01%.The major stock indices wrapped up their best weeks of the year, starting November on a positive note. The Dow closed the week at 34,061.32, registering a gain of 5.07%, marking its most impressive week since October 2022. The S&P 500 made a strong move, rising by 5.85% to reach 4,358.34, and the Nasdaq Composite ended the week with a 6.61% increase, closing at 13,478.28. This marked the best week for both indexes since November 2022.On the horizon, Federal Reserve Governor Lisa D. Cook is scheduled to deliver a speech on Monday. Several other Fed officials will also make public remarks later in the week, including New York Federal Reserve President and CEO John Williams, Atlanta Federal Reserve President Raphael Bostic, Richmond Federal Reserve President Thomas Barkin, and Dallas Fed President Lorie Logan.
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Today Top Movers
Carbon Revolution Public Ltd. Co. (CREV) stock soared +688% to $231 in the pre-market trading, after debut its trading on NASDAQ on Friday.
Sensei Biotherapeutics Inc (NASDAQ: SNSE) shares are trading up +18.84% at $0.82 at the time of writing soon after reported initial data from the monotherapy dose-escalation portion of its Phase 1/2 clinical trial for SNS-101. Company’s 52-week ranged between $0.51 to $1.93. Analysts have a consensus price target of $12.
Faraday Future Intelligent Electric Inc (FFIE) grew over +6.25% at $1.19 in pre-market trading today after deliver its FF 91 2.0 Futurist Alliance to global superstar and entrepreneur Chris Brown.
Allbirds Inc (BIRD), a Apparel Retail company, rose about +15.35% at $1.08 in pre-market trading on Monday after announced the Wool Runner 2: the original icon, back and better-than-before with more than 15 brand new innovations and upgrades.
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Top Upgrades & Downgrades
UBS turned bullish on Clorox Co. (CLX), upgrading the stock to "Neutral" and assigning a $132 price target, representing potential upside of 5.04% from Friday's close.
Bank Of America Corp. (BAC) has won the favor of Keefe, Bruyette & Woods's equity research team. The firm upgraded the shares from Underperform to Market Perform and moved their price target to $30, suggesting 4.71% additional upside for the stock.
Keycorp (KEY) received an upgrade from analysts at Keefe, Bruyette & Woods, who also set their one-year price target on the stock to $15. They changed their rating on KEY to Outperform from Market Perform in a recently issued research note.
Earlier Monday Wells Fargo reduced its rating on Solaredge Technologies Inc (SEDG) stock to Equal-Weight from Overweight and assigned the price target to $82.
Susquehanna analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Pioneer Natural Resources Co. (PXD) has been changed to Neutral from Positive and the new price target is set at $250.
Analysts at JP Morgan downgraded Nutrien Ltd (NTR)'s stock to Neutral from Overweight Monday.
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Latest Insider Activity
Ault Alliance Inc (AULT) 10% Owner Ault Alliance, Inc. announced the sale of shares taking place on Nov 01 at $0.01 for some 25,000 shares. The total came to more than $300.0.
Olema Pharmaceuticals Inc (OLMA) CH. DISCOV. & NON-CLIN DEV OFF Myles David C. sold on Nov 03 a total 541 shares at $17.51 on average. The insider’s sale generated proceeds of almost $9473.0.
Asana Inc (ASAN) President, CEO, & Chair Moskovitz Dustin A. declared the purchase of shares taking place on Nov 01 at $17.50 for some 237,015 shares. The transaction amount was around $4.15 million.
Lumen Technologies Inc (LUMN) EVP and CFO Stansbury Christopher bought on Nov 03 a total 500,000 shares at $1.10 on average. The purchase cost the insider an estimated $549,450.
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Important Earnings
Top US earnings releases scheduled for today include Vertex Pharmaceuticals, Inc. (NASDAQ:VRTX). It will announce its Sep 2023 financial results. The company is expected to report earnings of $3.98 per share from revenues of $2.5B in the three-month period.
Analysts expect NXP Semiconductors NV (NASDAQ:NXPI) to report a net income (adjusted) of $3.59 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2023 is predicted to come in at $3.4B.
Realty Income Corp. (O), due to announce earnings after the market closes today, is expected to report earnings of $0.32 per share from revenues of $1B 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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