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- Nov - 29 - NH - Morning Newsletter (with survey at top and bottom)
Nov - 29 - NH - Morning Newsletter (with survey at top and bottom)
🌟 Stellar Stocks: 4 Must-Watch Picks for Today!
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Good Morning!
Wednesday's stock futures edged upwards with hopes that the Federal Reserve might cease increasing benchmark interest rates, while traders aimed to bolster the already robust gains for the month. Futures linked to the Dow Jones Industrial Average increased by 0.3%, equivalent to 100 points. Similarly, S&P 500 futures and Nasdaq 100 futures rose by 0.3% and 0.4% respectively.The major indices are on course to achieve substantial gains for the month. November has seen an 8.6% rise for the S&P 500, a 7.2% increase for the Dow, and an impressive climb of 11.1% for the Nasdaq.Traders will be monitoring the release of second preliminary gross domestic product data for Q3 and the wholesale inventories report for October. Additionally, earnings reports from Hormel Foods and Dollar Tree are expected before the market opens, with Salesforce scheduled to report earnings after market close.
Free Report: 3 Top S&P 500 Stocks to Buy for 2024
As noted by USA Today, "Analysts expect improving market fundamentals in 2024. The S&P 500 entered bull market territory in June 2023 after gaining more than 20% from its October 2022 lows. Since World War II, the average S&P 500 bull market has lasted more than five years, according to LPL Research."
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Today Top Movers
180 Life Sciences Corp (ATNF) stock soared 26.35% to $0.4296 in the pre-market trading after announcing review of strategic alternatives.
Wheeler Real Estate Investment Trust Inc (NASDAQ: WHLR) shares are trading up 27.14% at $0.4577 at the time of writing following the filing of 8-K form with the SEC.
Fluence Energy Inc (FLNC) grew over 18.94% at $24.11 in pre-market trading today after reporting fourth quarter and full fiscal year 2023 financial results.
Netapp Inc (NTAP), a Computer Hardware company, rose about 12.15% at $87.6 in pre-market trading Wednesday after announcing at re:Invent, scale-out FSx for ONTAP® file systems through its collaboration with AWS.
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Top Upgrades & Downgrades
JP Morgan turned bullish on Avalonbay Communities Inc. (AVB), upgrading the stock to Neutral and assigning a $194 price target, representing potential upside of 12.68% from Tuesday's close.
RBC Bearings Inc. (RBC) has won the favor of BofA's equity research team. The firm upgraded the shares from Underperform to Buy and moved their price target to $280, suggesting 15.58% additional upside for the stock.
Tuya Inc ADR (TUYA) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $2.70. They changed their rating on TUYA to Overweight from Equal Weight in a recently issued research note.
Earlier Wednesday Jefferies reduced its rating on Airbnb Inc (ABNB) stock to Hold from Buy and assigned the price target to $140.
Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Hershey Company (HSY) has been changed to Neutral from Overweight and the new price target is set at $200.
Analysts at JP Morgan downgraded Diageo plc ADR (DEO)'s stock to Neutral from Overweight Wednesday.
AI SINGULARITY IS 3 MONTHS AWAY
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Latest Insider Activity
NVIDIA Corp (NVDA) EVP, Operations Shoquist Debora announced the sale of shares taking place on Nov 28 at $478.10 for some 20,000 shares. The total came to more than $9.56 million.
PayPal Holdings Inc (PYPL) EVP, Global Sales Alford Peggy sold on Nov 27 a total 15,000 shares at $56.76 on average. The insider’s sale generated proceeds of almost $0.85 million.
Ault Alliance Inc (AULT) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on Nov 24 at $0.09 for some 346,644 shares. The transaction amount was around $30817.0.
RiskOn International Inc (ROI) 10% Owner AULT MILTON C III bought on Nov 22 a total 1,633 shares at $0.39 on average. The purchase cost the insider an estimated $632.
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Important Earnings
Top US earnings releases scheduled for today include Salesforce Inc (NYSE:CRM). It will announce its Oct 2023 financial results. The company is expected to report earnings of $2.06 per share from revenues of $8.72B in the three-month period.
Analysts expect Snowflake Inc (NYSE:SNOW) to report a net income (adjusted) of $0.16 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $713.06M.
Carlyle Group Inc (CG), due to announce earnings after the market closes today, is expected to report earnings of $0.77 per share from revenues of $886.92M 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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