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- 💸 4 Stocks Gearing Up for Big Moves!
💸 4 Stocks Gearing Up for Big Moves!
Noor Saba
September 26, 2024
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Good Morning, Traders!…👋
U.S. stock futures are pointing to a strong open on Thursday, with market participants closely watching Micron Technology’s earnings and the release of weekly initial jobless claims. Micron’s earnings, reported late Wednesday, exceeded Wall Street’s expectations, driving a surge in its stock during after-hours trading. This is expected to boost the tech-heavy Nasdaq today.
In addition to corporate earnings, investors are focusing on key economic data. Weekly unemployment claims and durable goods orders will be released Thursday, providing further insight into the economy. Looking ahead, Friday will bring important data from the Commerce Department on personal income and spending trends, along with the Federal Reserve’s preferred inflation gauge, which will be closely monitored by the market.
Meanwhile, the yield on the 10-year Treasury note remains broadly unchanged at 3.785% early Thursday, holding steady from the previous day.
Several stocks are making significant moves today. Micron Technology shares surged following its strong earnings report and upbeat guidance, lifting fellow chip makers such as Nvidia and ASML. Southwest Airlines is in focus as it holds its Investor Day, and Costco is scheduled to release its earnings report later today.
Happening Today
✓ 08:30 AM ET – Initial Jobless Claims
✓ 08:30 AM ET – Durable Goods Orders (MoM) (Aug)
✓ 08:30 AM ET – GDP (QoQ) (Q2)
✓ 09:20 AM ET – Fed Chair Powell Speaks
✓ 10:30 AM ET – Cushing Crude Oil Inventories
✓ 01:00 PM ET – 5-Year Note Auction
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PREMARKET SNAPSHOT📈
Market futures are showing strong gains, with the S&P 500 up 0.80%, the Dow rising 0.49%, and the NASDAQ leading with a 1.43% increase.
S&P500$5825.00 ⬆️ 0.80% | Dow$42485.00 ⬆️ 0.49% | NASDAQ$204880.75 ⬆️ 1.43% |
SECTOR SNAPSHOT✨
Yesterday's market faced a downturn, with most sectors showing declines. Consumer Discretionary and Financials experienced notable losses, alongside Energy and Health Care, which reflected broader market pressures. Industrials and Materials also dipped, while Real Estate saw a slight decline. However, Information Technology managed to post a modest gain, indicating some resilience in that sector. Utilities also showed positive movement, providing a bit of stability amidst the overall negative sentiment.
NAME | PRICE | %CHANGE |
Consumer Discretionary | 1,608.97 | -0.38% 🔴 |
Consumer Staples | 887.53 | -0.03% 🔴 |
Energy | 670.41 | -1.90% 🔴 |
Financials | 745.13 | -0.60% 🔴 |
Health Care | 1,780.54 | -0.94% 🔴 |
Industrials | 1,134.25 | -0.46% 🔴 |
Materials | 600.93 | -0.60% 🔴 |
Real Estate | 280.75 | -0.40% 🔴 |
Information Technology | 4,381.99 | +0.50% 🟢 |
Communication Services | 309.63 | -0.04% 🔴 |
Utilities | 407.40 | +0.54% 🟢 |
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PreMarket Unusual Volume Stocks
📈 Pasithea Therapeutics Corp (KTTA): Pasithea Therapeutics Corp experienced a significant increase in trading activity, with the volume reaching 950,935 shares, far above its average of 17,540. This surge led to a 42.00% increase in the stock price, highlighting strong market interest.
📈 Fangdd Network Group Ltd ADR (DUO): Fangdd Network Group Ltd ADR saw a jump in trading volume to 5,534,120, compared to its average of 515,800 shares. This increase in activity corresponded with a 25.00% rise in the stock price, indicating heightened investor attention.
📈 Kintara Therapeutics Inc (KTRA): Kintara Therapeutics Inc witnessed a remarkable trading volume of 25,326,168 shares, significantly exceeding its average of 3,103,190. This volume spike was accompanied by a 19.58% price increase, signaling strong investor engagement.
📈 Telesis Bio Inc (TBIO): Telesis Bio Inc saw its trading volume soar to 3,506,811, well above its average of 1,061,680 shares. This volume surge resulted in a 112.50% price increase, reflecting robust investor enthusiasm.
📈 Xinyuan Real Estate Co. Ltd. ADR (XIN): Xinyuan Real Estate Co. Ltd. ADR had a trading volume of 16,839, slightly above its average of 7,760 shares. The stock saw a price increase of 13.50%, indicating steady market interest.
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Premarket Picks
Kintara Therapeutics, Inc. (KTRA) experienced a significant jump of 36.12%, reaching a pre-market price of $0.22 following its 8-K filing with the SEC.
Telesis Bio, Inc. (TBIO) saw a remarkable increase to a pre-market price of $4.85, up 109.05%, after announcing a partnership with Beckman Coulter Life Sciences aimed at transforming DNA and mRNA synthesis.
NuCana plc (NCNA) climbed 19.67%, hitting a pre-market price of $3.65 after securing a composition-of-matter patent for NUC-7738 in the United States.
Micron Technology, Inc. (MU) posted a pre-market price of $110.65, a 15.54% rise, after releasing its financial results for the fourth quarter and the full fiscal year of 2024.
Below is a list of other hot stocks in pre-market today:
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
KTRA | +36.48% | 21.29M |
HOLO | +13.49% | 2.79M |
TBIO | +110.78% | 1.22M |
FFIE | +8.56% | 807.40K |
MU | +15.08% | 582.24K |
SOBR | +5.59% | 367.81K |
RR | +7.26% | 261.80K |
MTC | +6.32% | 218.57K |
WISA | +4.31% | 141.96K |
SXTC | +4.37% | 136.77K |
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Top Upgrades:
1. Starbucks Corporation (SBUX)
Analyst Firm: Bernstein
Upgrade: Market Perform to Outperform
Price Target: $92
Yesterday’s Close: $95.62
Bernstein has upgraded Starbucks Corporation from Market Perform to Outperform, raising the price target to $115 from the previous $92. Analyst estimates for Starbucks stock price range from a low of $76.00 to a high of $120.00, with a median target of $100.00 and an average of $99.36.
Starbucks continues to dominate the specialty coffee industry, with over 39,000 stores worldwide. Since its founding in 1971, the company has maintained its commitment to ethically sourcing and roasting high-quality arabica coffee.
2. New York Community Bancorp, Inc. (NYCB)
Analyst Firm: Barclays
Upgrade: Equal Weight to Overweight
Price Target: $14
Yesterday’s Close: $10.66
Barclays has upgraded New York Community Bancorp, Inc. from Equal Weight to Overweight, setting a price target of $14. Analyst stock price targets for NYCB range from a low of $10.50 to a high of $14.00, with a median estimate of $12.00 and an average of $12.14.
Headquartered in Hicksville, New York, NYCB is the parent company of Flagstar Bank. As of June 30, 2024, the company reported assets totaling $119.1 billion and loans of $82.4 billion.
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3. PagerDuty, Inc. (PD)
Analyst Firm: Jefferies
Upgrade: Hold to Buy
Price Target: $14
Yesterday’s Close: $17.78
Jefferies has upgraded PagerDuty, Inc. from Hold to Buy, raising the price target to $14 from $8. Analyst stock price targets for PagerDuty range from a low of $18.00 to a high of $30.00, with a median estimate of $21.00 and an average target of $21.91.
PagerDuty is a global leader in digital operations management, helping organizations achieve operational efficiency at scale through its innovative PagerDuty Operations Cloud platform.
Happy investing,
Maeve Grace
Editor In Chief
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Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.
Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.
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