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- 01 Dec - ST - Morning Newsletter (with survey at top and bottom)
01 Dec - ST - Morning Newsletter (with survey at top and bottom)
4 Stocks Taking off in Today's Premarket
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Good Morning!Despite Wall Street's sharp rally on Wednesday, stock futures dipped on Thursday.There was a 49-point drop, or 0.1%, in Dow Jones Industrial Average futures. As of early morning, S&P 500 futures were down 0.1% and Nasdaq-100 futures were down 0.2%.On news that Bret Taylor would be stepping down from the co- CEO position, Salesforce's stock dropped 6% in premarket trading. In response to Snowflake's relatively weak revenue guidance, its shares dropped about 5%.This comes following a surge yesterday, as the Nasdaq Composite and S&P recovered from three straight days of losses after Fed Chairman Jerome Powell appeared to confirm that the central bank has slowed its tightening - a question that has lingered for weeks.In anticipation of the November jobs report due out Friday, investors' attention is directed to initial jobless claims. We will learn more about the state of the labor market in the payroll report, and whether it continues to cool. 200,000 jobs were added in November, down from 261,000 in October, according to Dow Jones economists. The unemployment rate is also expected to remain at 3.7% from the previous month.
The Top 5 NASDAQ Stocks to Own for New Year 2023
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Today Top Movers
Sonim Technologies Inc. (SONM) stock soared 30.0% to $0.5369 in the pre-market trading after announcing a $17M additional tablet order.
Pyxis Oncology, Inc. (PYXS) shares are trading up 13.10% at $1.64 at the time of writing after receiving clearance for its two Investigational New Drug applications from the U.S. Food and Drug Administration (FDA) to initiate Phase 1 clinical trials.
Splunk Inc. (SPLK) grew over 8.87% at $84.57 in pre-market trading today. The company reported fiscal third quarter 2023 financial results.
Five Below Inc. (FIVE), a Specialty Retail company, rose about 8.95% at $175.25 in pre-market trading Thursday following the release of 3rd quarter fiscal 2022 financial results.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on Navient Corporation (NAVI), upgrading the stock to "Equal Weight" and assigning a $16 price target.
BioXcel Therapeutics Inc. (BTAI) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $16.
StoneCo Ltd. (STNE) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $11. They changed their rating on STNE to Neutral from Sell in a recently issued research note.
Earlier Thursday Morgan Stanley reduced its rating on Synchrony Financial (SYF) stock to Underweight from Equal Weight and assigned the price target to $29.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for PagSeguro Digital Ltd. (PAGS) has been changed to Sell from Neutral and the new price target is set at $9.
Analysts at Exane BNP Paribas downgraded Thomson Reuters Corporation (TRI)'s stock to Underperform from Neutral Thursday.
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Latest Insider Activity
Tesla Inc. (TSLA) SVP Powertrain and Energy Eng. Baglino Andrew D announced the sale of shares taking place on Nov 28 at $179.57 for some 10,500 shares. The total came to more than $1.89 million.
Lyft Inc. (LYFT) Director Wilderotter Mary Agnes sold on Nov 28 a total 1,826 shares at $10.87 on average. The insider’s sale generated proceeds of almost $19854.0.
Prologis Inc. (PLD) Director OCONNOR DAVID P declared the purchase of shares taking place on Nov 28 at $114.13 for some 9,000 shares. The transaction amount was around $1.03 million.
Iovance Biotherapeutics Inc. (IOVA) Director MCPEAK MERRILL A bought on Nov 29 a total 10,000 shares at $6.31 on average. The purchase cost the insider an estimated $63,100.
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Important Earnings
Top US earnings releases scheduled for today include The Kroger Co. (NYSE: KR). It will announce its Oct 2022 financial results. The company is expected to report earnings of $0.82 per share from revenues of $33.95B in the three-month period.
Analysts expect Dollar General Corporation (NYSE: DG) to report a net income (adjusted) of $2.53 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2022 is predicted to come in at $9.43B.
Designer Brands Inc. (DBI), due to announce earnings before the market opens today, is expected to report earnings of $0.72 per share from revenues of $871.54M 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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