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- Nov - 20 - NH - Morning Newsletter (with survey at top and bottom)
Nov - 20 - NH - Morning Newsletter (with survey at top and bottom)
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U.S. equity futures showed minimal movement on Monday morning as the market entered a shortened Thanksgiving holiday week, following three consecutive weeks of gains across major averages.Futures linked to the Dow Jones Industrial Average dipped slightly, falling 7 points or less than 0.1%. S&P 500 futures experienced a modest decline of around 2 points, while Nasdaq 100 futures were down 16.5 points, constituting a 0.1% decrease.Last week concluded with a positive note as the S&P 500 gained 2.2%, the Dow rose by 1.9%, marking the first three-week winning streak for these indexes since July. The Nasdaq Composite performed exceptionally well, closing the week with a 2.4% increase, its strongest showing since June.On Friday, the yield for the benchmark U.S. 10-year Treasury reached its lowest level since September 20, leading some traders to anticipate continued competition between Treasury yields and equities, making them more appealing to investors.As the Thanksgiving Day-shortened week unfolds, market participants are eagerly anticipating Nvidia's earnings and forward guidance, scheduled for Tuesday. The chipmaker, which has experienced a surge in its stock price this year amid the artificial intelligence craze, is expected to exceed third-quarter earnings and revenue estimates, according to analysts polled by FactSet. However, concerns persist regarding the company's valuation.
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Today Top Movers
Bruush Oral Care Inc. (BRSH) stock soared 224.67% to $0.5487 in the pre-market trading. The company recently declared that it has received Nasdaq notification regarding minimum bid requirements
Blue Star Foods Corp (NASDAQ: BSFC) shares are trading up 62.33% at $0.2245 at the time of writing following the filing of DEF 14A form with the SEC.
Medicinova Inc (MNOV) grew over 19.66% at $2.13 in pre-market trading today after announcing new data and results of a phase 2 clinical trial of MN-166 in Glioblastoma presented at the 28th Annual Meeting of the Society for Neuro-Oncology.
Altamira Therapeutics Ltd (CYTO), a Biotechnology company, rose about 20.54% at $0.3375 in pre-market trading Monday. The company recently announced partial spin-off of Bentrio® Business.
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Top Upgrades & Downgrades
Deutsche Bank turned bullish on Boeing Co. (BA), upgrading the stock to "Buy" and assigning a $270 price target, representing potential upside of 27.82% from Friday's close.
Six Flags Entertainment Corp (SIX) has won the favor of Jefferies's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $32, suggesting 35.02% additional upside for the stock.
Dutch Bros Inc (BROS) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $35. They changed their rating on BROS to Overweight from Neutral in a recently issued research note.
Earlier Monday Wells Fargo reduced its rating on Spectrum Brands Holdings Inc. (SPB) stock to Equal-Weight from Overweight and assigned the price target to $73.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Ryan Specialty Holdings Inc (RYAN) has been changed to Neutral from Buy and the new price target is set at $53.
Analysts at Morgan Stanley downgraded Chegg Inc (CHGG)'s stock to Underweight from Equal-Weight Monday.
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Latest Insider Activity
Archer Aviation Inc (ACHR) Chief Legal Off. & Secretary MISSAN ANDY announced the sale of shares taking place on Nov 17 at $6.39 for some 12,500 shares. The total came to more than $79875.0.
ProKidney Corp (PROK) 10% Owner Palihapitiya Chamath sold on Nov 17 a total 258,400 shares at $1.19 on average. The insider’s sale generated proceeds of almost $0.31 million.
GoodRx Holdings Inc (GDRX) See Remarks Wagner Scott declared the purchase of shares taking place on Nov 17 at $5.26 for some 26,664 shares. The transaction amount was around $0.14 million.
Xeris Biopharma Holdings Inc (XERS) See Remarks Shannon John Patrick Jr bought on Nov 17 a total 30,769 shares at $1.64 on average. The purchase cost the insider an estimated $50,400.
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Important Earnings
Top US earnings releases scheduled for today include Zoom Video Communications Inc (NASDAQ:ZM). It will announce its Oct 2023 financial results. The company is expected to report earnings of $1.08 per share from revenues of $1.12B in the three-month period.
Analysts expect Agilent Technologies Inc. (NYSE:A) to report a net income (adjusted) of $1.35 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $1.67B.
Trip.com Group Ltd ADR (TCOM), due to announce earnings after the market closes today, is expected to report earnings of $0.67 per share from revenues of $1.9B 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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