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🚀 Skyrocket Your Day – 4 Must-See Stocks!"
Zeeshan Shabbir Tahir
December 11, 2023
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Good Morning!
Monday saw U.S. stock futures undergoing minimal changes as investors braced for the last Federal Reserve meeting of 2023, anticipating cues regarding potential interest rate cuts. Futures linked to the Dow Jones Industrial Average witnessed a 10-point drop, with S&P 500 futures down 0.1%, and Nasdaq-100 futures slipping 0.2%.
Expectations surround the Fed maintaining the fed funds rate within the 5.25%-5.5% range. During his Wednesday press conference, Chair Jerome Powell is likely to reaffirm his commitment to addressing inflation. CME Group’s FedWatch tool currently indicates a 45% probability of a 0.25 percentage point rate cut by the Fed in March.
Investor focus also extends to upcoming inflation data, which could influence market dynamics and impact the Fed's decisions on rate cuts. The consumer price index for November is scheduled for release on Tuesday, followed by the producer price index on Wednesday.
Earnings reports are on the horizon, with Oracle reporting on Monday, Adobe on Wednesday, and Costco Wholesale on Thursday.
After a rough outing in 2022, 2023 has been explosive.
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Today Top Movers
Poseida Therapeutics Inc (PSTX) stock soared 20.57% to $3.81 in the pre-market trading after releasing positive early results from its phase 1 trial of Allogeneic CAR-T P-BCMA-ALLO1.
Onconova Therapeutics Inc (NASDAQ: ONTX) shares are trading up 18.92% at $0.751 at the time of writing after announcing preclinical data highlighting narazaciclib’s multi-kinase profile, broad anti-tumor activity and increased anti-tumor immunity, compared to palbociclib and other CDK4/6 inhibitors.
Macy's Inc (M) grew over 19.38% at $20.76 in pre-market trading today. The company recently announced a cash dividend of 0.165 with an ex-date of Dec. 14, 2023.
Cigna Group (CI), a Healthcare Plans company, rose about 10.51% at $286 in pre-market trading Monday after announcing significant increase to share repurchase program of $10 billion.
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Top Upgrades & Downgrades
Jefferies turned bullish on Best Buy Co. Inc. (BBY), upgrading the stock to Buy and assigning a $89 price target, representing potential upside of 18.98% from Friday's close.
Pinterest Inc (PINS) has won the favor of RBC Capital's equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $46, suggesting 27.67% additional upside for the stock.
HP Inc (HPQ) received an upgrade from analysts at Evercore ISI Group, who also set their one-year price target on the stock to $40. They changed their rating on HPQ to Outperform from In-Line in a recently issued research note.
Earlier Monday Morgan Stanley reduced its rating on Huntsman Corp (HUN) stock to Equal Weight from Overweight and assigned the price target to $28.
TD Cowen analysts reduced their investment ratings, saying in research reports covered by the media that its rating for CRISPR Therapeutics AG (CRSP) has been changed to Market Perform from Underperform and the new price target is set at $30.
Analysts at Evercore ISI downgraded Conagra Brands Inc (CAG)'s stock to Outperform from In Line Monday.
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Latest Insider Activity
Palantir Technologies Inc (PLTR) See Remarks Planishek Heather A. announced the sale of shares taking place on Dec 06 at $17.43 for some 27,608 shares. The total came to more than $0.48 million.
Ramaco Resources Inc (METC) Director LEIDEL PETER A sold on Dec 08 a total 64,875 shares at $17.12 on average. The insider’s sale generated proceeds of almost $1.11 million.
CommScope Holding Company Inc (COMM) SVP & President, CCS ter Linde Koen declared the purchase of shares taking place on Dec 07 at $1.84 for some 13,513 shares. The transaction amount was around $24857.0.
Walt Disney Co (DIS) Director Chang Amy bought on Dec 07 a total 1,078 shares at $92.69 on average. The purchase cost the insider an estimated $99,918.
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Important Earnings
Top US earnings releases scheduled for today include Oracle Corp. (NYSE:ORCL). It will announce its Nov 2023 financial results. The company is expected to report earnings of $1.32 per share from revenues of $13.05B in the three-month period.
Analysts expect Casey's General Stores, Inc. (NASDAQ:CASY) to report a net income (adjusted) of $3.72 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2023 is predicted to come in at $4.06B.
Blue Bird Corp (BLBD), due to announce earnings after the market closes today, is expected to report earnings of $0.48 per share from revenues of $290.11M 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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