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- 07 Nov - ST - Morning Newsletter (with survey at top and bottom)
07 Nov - ST - Morning Newsletter (with survey at top and bottom)
4 Active Premarket Stocks To Trade Today
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Good Morning!Stock futures were higher Monday morning as Congress is set to hold its midterm elections and key inflation figures are planned to be released.There was a 0.4% gain in Dow Jones Industrial Average futures. The S&P 500 futures rose 0.4% and the Nasdaq 100 futures gained 0.3%.In spite of those gains, Apple's stock dropped 1% after it announced a temporary reduction in iPhone production due to Covid-19 restrictions in China.Congress' control will be determined by Tuesday's midterm elections, which will have an impact on spending in the future. The Senate and House are currently controlled by Democrats. It is possible that oil and gas companies will receive more support from a Republican sweep.Dow Jones rose 400 points, or 1.3%, after a strong session. Both the S&P 500 and Nasdaq Composite surged more than 1%. Nevertheless, the major indices ended the week with losses. Concerns about a rate hike ended the Dow's four-week winning streak.As earnings season draws to a close, Palantir Technologies, Activision Blizzard, Lyft, and Take-Two Interactive are among the companies expected to report Monday.
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Today Top Movers
Digital World Acquisition Corp. (DWAC)
stock soared 33.24% to $23.29 in the pre-market trading following the reports that former President Donald Trump is reportedly planning to announce a third run for the White House, potentially as early as the week of November 14.
MEI Pharma Inc. (NASDAQ: MEIP)
shares are trading up 17.28% at $0.38 at the time of writing after MEI Pharma and Kyowa Kirin announced the acceptance of three abstracts for presentation at the American Society of Hematology Annual Meeting 2022.
D-Wave Quantum Inc. (QBTS)
grew over 16.67% at $2.87 in pre-market trading today. The company recently announced two key updates to its constrained quadratic model (CQM) hybrid solver in the Leap™ quantum cloud service.
Cidara Therapeutics Inc. (CDTX)
, a Biotechnology company, rose about 5.0% at $0.5881 in pre-market trading Monday. The company provided corporate update and reported Q3 2022 financial results.
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Top Upgrades & Downgrades
Wells Fargo turned bullish on NOV Inc. (NOV), upgrading the stock to Equal-Weight and assigning a $25 price target, representing potential upside of 7.67% from Friday's close.
Okta Inc. (OKTA) has won the favor of Guggenheim's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $65, suggesting 44.38% additional upside for the stock.
ACM Research Inc (ACMR) received an upgrade from analysts at B of A Securities, who also set their one-year price target on the stock to $7. They changed their rating on ACMR to Hold from Underperform in a recently issued research note.
Earlier Monday Wells Fargo reduced its rating on Costco Wholesale Corporation (COST) stock to Equal-Weight from Overweight and assigned the price target to $490.
Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Dominion Energy Inc. (D) has been changed to Neutral from Outperform and the new price target is set at $69.
Analysts at RBC Capital downgraded Adient plc (ADNT)'s stock to Sector Perform from Outperform Monday.
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Latest Insider Activity
Ingersoll Rand Inc. (IR) See Remarks Schiesl Andrew R announced the sale of shares taking place on Nov 04 at $52.39 for some 10,000 shares. The total came to more than $0.52 million.
Moderna Inc. (MRNA) Chief Executive Officer Bancel Stephane sold on Nov 03 a total 40,000 shares at $147.10 on average. The insider’s sale generated proceeds of almost $5.88 million.
BitNile Holdings Inc. (NILE) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on Nov 04 at $0.17 for some 100,000 shares. The transaction amount was around $16560.0.
LendingClub Corporation (LC) Director LANDON ALLAN R bought on Nov 03 a total 15,000 shares at $9.66 on average. The purchase cost the insider an estimated $144,828.
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Important Earnings
Top US earnings releases scheduled for today include Palantir Technologies Inc. (NYSE: PLTR). It will announce its Sep 2022 financial results. The company is expected to report earnings of $0.02 per share from revenues of $470.31M in the three-month period.
Analysts expect Viatris Inc. (NASDAQ: VTRS) to report a net income (adjusted) of $0.84 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2022 is predicted to come in at $4.14B.
NiSource Inc. (NI), due to announce earnings before the market opens today, is expected to report earnings of $0.11 per share from revenues of $1.03B 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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