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- Nov - 30 - NH - Morning Newsletter (with survey at top and bottom)
Nov - 30 - NH - Morning Newsletter (with survey at top and bottom)
🚨 Alert: 4 Game-Changing Stocks to Watch Now!
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Good Morning!
On Thursday, U.S. stock futures surged as all three major stock indexes geared up for a successful conclusion to November. Dow Jones Industrial Average futures rose by 0.5% or 168 points, while S&P 500 and Nasdaq-100 futures saw increases of 0.2% each.Salesforce and Snowflake experienced significant gains of 9.2% and 8.6% respectively, driven by impressive earnings reports.Despite sustained higher interest rates, strategist Jay Woods remains optimistic that stocks will maintain their upward momentum until the end of the year.Traders are keeping an eye on October's personal consumption expenditures, a crucial inflation indicator for the Federal Reserve, along with the upcoming release of weekly jobless claims data.
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Today Top Movers
Connexa Sports Technologies Inc (CNXA) stock soared 54.27% to $0.5307 in the pre-market trading following the fling of S-1/A form with the SEC.
VinFast Auto Ltd. (NASDAQ: VFS) shares are trading up 23.28% at $9.32 at the time of writing after announcing that it is to speak and showcase its latest VF 9 Electric Vehicle (EV) at the annual United Nations summit on climate change, COP28.
Nutanix Inc (NTNX) grew over 9.74% at $45.61 in pre-market trading today after reporting first quarter fiscal 2024 financial results.
Salesforce Inc (CRM), a Software - Application company, rose about 8.96% at $251 in pre-market trading Thursday. The company announced strong third quarter fiscal 2024 results.
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Top Upgrades & Downgrades
Goldman Sachs turned bullish on Hudson Pacific Properties Inc (HPP), upgrading the stock to Neutral and assigning a $6.25 price target, representing potential upside of 5.75% from Wednesday's close.
Duke Energy Corp. (DUK) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal Weight to Overweight and moved their price target to $103, suggesting 13.54% additional upside for the stock.
Snap Inc (SNAP) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $16. They changed their rating on SNAP to Buy from Hold in a recently issued research note.
Earlier Thursday Wells Fargo reduced its rating on Okta Inc (OKTA) stock to Equal-Weight and assigned the price target to $70.
JPMorgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Telefonaktiebolaget L M Ericsson ADR (ERIC) has been changed to Neutral from Overweight and the new price target is set at $5.90.
Analysts at JPMorgan downgraded Nokia Corp ADR (NOK)'s stock to Neutral from Overweight Thursday.
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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Latest Insider Activity
Unity Software Inc (U) Director Lee Michelle K. announced the sale of shares taking place on Nov 28 at $28.01 for some 178 shares. The total came to more than $4986.0.
DraftKings Inc. (DKNG) Chief Legal Officer Dodge R Stanton sold on Nov 29 a total 123,609 shares at $38.41 on average. The insider’s sale generated proceeds of almost $4.75 million.
Corteva Inc (CTVA) See Remarks Eathington Samuel R declared the purchase of shares taking place on Nov 28 at $46.07 for some 1,094 shares. The transaction amount was around $50401.0.
Exelixis Inc (EXEL) Director JOHNSON DAVID EDWARD bought on Nov 27 a total 120,409 shares at $21.61 on average. The purchase cost the insider an estimated $2.6 million.
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Important Earnings
Top US earnings releases scheduled for today include Dell Technologies Inc (NYSE:DELL). It will announce its Oct 2023 financial results. The company is expected to report earnings of $1.47 per share from revenues of $23B in the three-month period.
Analysts expect Marvell Technology Inc (NASDAQ:MRVL) to report a net income (adjusted) of $0.4 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $1.4B.
Samsara Inc (IOT), due to announce earnings after the market closes today, is expected to report earnings of $0.01 per share from revenues of $224.73M 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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