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- 2 Dec - Morning Newsletter (with changes)
2 Dec - Morning Newsletter (with changes)
4 Stocks Taking off in Today's Premarket
Good Morning!
On December 1, the major US stock indexes closed the session with a noticeable fall after a steady rise in early trading. The S&P 500 fell 0.18% to 4513 points, the Nasdaq lost 1.83%, and the Dow Jones fell 1.34%. All industries showed negative dynamics. The worst performers were telecoms (-3.00%), utilities (-2.92%) and non-cyclical consumer goods manufacturers (-2.73%).Company news
The Vertex Pharmaceuticals, Inc . ( VRTX : + 9.71%) announced positive results from clinical trials of VX-147 in the treatment of genetic kidney disease .
Salesforce.cm Inc. (CRM: -11.7%) reported for the third quarter, beating expectations for revenue and EPS, but presented a weak forecast for the last three months of the year.
Square (SQ: -6.64%) announced the name change to Block. The official rebranding is tentatively scheduled for December 10. The company's ticker will remain the same.
Today, global platforms are demonstrating multidirectional dynamics. Although the emergence of the omicron strain in the United States was expected, the market reacted strongly to the official announcement of the first case of infection.Today, a meeting of the OPEC + ministerial monitoring committee will be held, which will decide on a possible increase in oil production from January. The baseline scenario assumes an increase in production by 400 thousand barrels per day per month. However, the spread of the new omicron coronavirus strain, the possibility of introducing restrictive measures and a sharp drop in oil prices may correct these plans.
$0.25 Uranium Stock Controls Key Canadian Assets as Uranium Soars
Small-cap Uranium stocks are soaring. Most have already doubled as Uranium cranks higher. But that's nothing compared to the gains ahead in the new Uranium bull market. The last time we saw something like this, well-positioned investors made 10X, 100X and up to 1,000X their money. We've uncovered the top $0.25 Uranium stock for 2021-22 riches.
Today Top Movers
Digital World Acquisition Corp. (DWAC) stock surged 20.81% to $53.58 in the pre-market trading following a report of a $1 billion fundraising target.
Phunware Inc. (PHUN) stock soared 20.0% to $3.9 in the pre-market trading after rumors that the company would provide services to TMTG and its Truth Social platform.
Snowflake Inc. (NYSE: SNOW) shares are trading up 14.83% at $357.12 at the time of writing. The company reported $334.4 million revenue for the third quarter, representing 110% year-over-year growth.
CrowdStrike Holdings Inc. (CRWD) grew over 3.75% at $209.05 in pre-market trading today after reporting that it earned the highest rating in October 2021 Gartner Peer Insights ‘Voice of the Customer’ for Endpoint Protection Platforms Report.
5 Top Small Cap Value Stocks to Consider Right Now
Some of the greatest opportunities can be found in small cap value stocks.
Remember, even Amazon was once a $7 stock.
Tesla once had a market cap of just over a billion. While small caps do carry risk like every other stock, find the right one, and the rewards can be off the charts.
Top Upgrades & Downgrades
Raymond James turned bullish on Public Storage (PSA), upgrading the stock to Strong Buy and assigning a $375.00 price target, representing potential upside of 15.14% from Wednesday's close.
CubeSmart (CUBE) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $60.00, suggesting 12.99% additional upside for the stock.
Okta Inc. (OKTA) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $270.00. They changed their rating on OKTA to Overweight from Neutral in a recently issued research note.
Earlier Thursday Morgan Stanley reduced its rating on Expeditors International of Washington Inc. (EXPD) stock to Underweight from Equal-Weight and assigned the price target to $95.00.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for U.S. Xpress Enterprises Inc. (USX) has been changed to Equal-Weight from Overweight and the new price target is set at $10.00.
Analysts at Jefferies downgraded BeyondSpring Inc. (BYSI)'s stock to Hold from Buy Thursday.
Biden Executive Order 14017 Potentially Sending Lithium Stocks Skyrocketing
The White House is scared of our country's lithium supply running out. That's why Biden issued executive order 14017 to figure out how to expand our lithium production. And this is GREAT news for one company who's gobbling up land in the lithium-rich Nevada desert.
Latest Insider Activity
General Motors Company (GM) Executive Vice President Parks Douglas L announced the sale of shares taking place on Nov 29 at $61.31 for some 9,995 shares. The total came to more than $0.61 million.
Visa Inc. (V) CHAIRMAN & CEO KELLY ALFRED F JR sold on Nov 30 a total 146,459 shares at $195.27 on average. The insider’s sale generated proceeds of almost $1.76 million.
Cleveland-Cliffs Inc. (CLF) Chairman, President & CEO GONCALVES LOURENCO declared the purchase of shares taking place on Dec 01 at $19.77 for some 50,000 shares. The transaction amount was around $0.99 million.
Delta Air Lines Inc. (DAL) Director Taylor David S bought on Nov 30 a total of 40,580 shares at $35.59 on average. The purchase cost the insider an estimated $213,510.
The Next Biotech Giant is...
Biotech insiders have discovered this generation's next biotech giant...
They're publicly traded and specialize in this breakthrough medical discovery...
Important Earnings
Top US earnings releases scheduled for today include Marvell Technology Inc. (NASDAQ:MRVL). It will announce its Oct 2021 financial results. The company is expected to report earnings of $0.38 per share from revenues of $1.15B in the three-month period.
Analysts expect Asana Inc. (NYSE:ASAN) to report a net income (adjusted) of -$0.26 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2021 is predicted to come in at $93.86M.
Smartsheet Inc. (SMAR), due to announce earnings after the market closes today, is expected to report earnings of -$0.1 per share from revenues of $139.97M 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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