Good Morning, Traders!…👋

Stock futures were steady Monday morning as the Dow looks to snap a seven-day losing streak, kicking off a week centered around a key Federal Reserve meeting. Futures tied to the Dow Jones Industrial Average inched up 49 points (0.1%), while S&P 500 futures and Nasdaq 100 futures remained just above the flatline.

This week’s spotlight is on the Federal Open Market Committee’s meeting, scheduled for Tuesday and Wednesday, where officials are widely expected to announce another rate cut.

On the economic front, preliminary purchasing managers index (PMI) data will be released ahead of the opening bell Monday. Meanwhile, shares of MicroStrategy could see movement after being named a new addition to the Nasdaq 100 index, reflecting growing attention to its role as a bitcoin proxy.

Happening Today

✓ 08:30 AM ET – NY Empire State Manufacturing Index (Dec)

✓ 09:45 AM ET – S&P Global US Manufacturing PMI (Dec)

✓ 09:45 AM ET – S&P Global Services PMI (Dec)

PREMARKET SNAPSHOT 📈

Market futures are up, with the S&P 500, Dow, and NASDAQ all showing gains.

SECTOR SNAPSHOT✨

Yesterday's sector performance was mixed. Consumer Discretionary rose by 0.42%, and Information Technology gained 0.54%, providing some positive momentum. Utilities also showed a minor increase of 0.07%. However, several sectors faced declines: Communication Services dropped significantly by 1.12%, and Materials fell by 0.79%. Energy and Industrials were down 0.63% and 0.27%, respectively, while Financials dipped 0.28%. Consumer Staples saw a slight loss of 0.20%, and Real Estate declined by 0.58%. Health Care remained flat with no change.

PreMarket Unusual Volume Stocks

📈 Sidus Space Inc (SIDU) surged 69.23%, closing at $2.42. The trading volume reached 20.94M shares, far exceeding its average of 604.11K, indicating exceptional investor interest and momentum.

📈 U-BX Technology Ltd (UBXG) gained 34.07%, closing at $4.43. Trading volume spiked to 946.5K shares, compared to an average of 80.98K, reflecting strong market activity.

📈 WISeKey International Holding Ltd ADR (WKEY) posted a 6.25% rise, closing at $8.33. The trading volume hit 4.12M shares, surpassing its average of 1.38M, showing continued investor focus.

📈 Insight Acquisition Corp (AMOD) rose 16.95%, closing at $11.11. The trading volume was 10.48K shares, notably above its low average of 5.48K, suggesting increased interest.

📈 Checkpoint Therapeutics Inc (CKPT) climbed 11.99%, closing at $4.11. Volume reached 1.66M shares, well above the average of 863.09K, signaling bullish sentiment.

Premarket Picks

Edgewise Therapeutics, Inc. (EWTX) saw a pre-market surge of 21.00%, bringing its price to $33.42. The increase came after the company announced positive topline results from the CANYON Phase 2 trial of Sevasemten in individuals with Becker Muscular Dystrophy.

Red Cat Holdings, Inc. (RCAT) experienced a pre-market surge of 14.95%, with its price reaching $9.46. This surge followed the announcement of a strategic partnership with Palantir Technologies Inc. (PLTR) to integrate Visual Navigation software (VNav) into Red Cat’s Black Widow drones and deploy Palantir’s Warp Speed manufacturing OS.

PureTech Health plc (PRTC) saw a pre-market surge of 23.15%, bringing its price to $25.00. The company reported positive results from the ELEVATE IPF Phase 2b trial, which evaluated deupirfenidone (LYT-100) for patients with idiopathic pulmonary fibrosis (IPF).

SEALSQ Corp (LAES) experienced a substantial pre-market surge of 49.14%, with its price reaching $2.61. The company’s increase followed the announcement of a $10.0 million registered direct offering, priced above market under NASDAQ rules.

Below is a complete list of hot stocks in pre-market today:

Top Upgrades:

1. NetApp, Inc. (NTAP)

Analyst Firm: JPMorgan
Upgrade: Overweight to Neutral
Price Target: $160
Friday's Close: $121.95

JPMorgan analyst Samik Chatterjee raised NetApp’s rating from Neutral to Overweight and set a target price of $160.

NetApp is a leading intelligent data infrastructure company that combines unified data storage, integrated data services, and CloudOps solutions to help customers turn disruption into opportunity. Analysts have set NetApp's stock price target at $160.00, with a high of $160.00, a median of $140.00, a low of $120.00, and an average of $138.87.

2. Teradyne, Inc. (TER)

Analyst Firm: Chatterjee
Upgrade: Neutral to Overweight
Price Target: $158
Friday's Close: $123.22

Chatterjee also upgraded Teradyne from Neutral to Overweight, increasing its price target to $158, up from $145.

Teradyne’s test technology helps accelerate the development of high-quality innovations, such as smart devices, medical equipment, and data storage systems. The stock price target for Teradyne is estimated to be $180.00 at the high end, $135.00 at the median, $110.00 at the low end, and an average of $136.13.

3. AMETEK, Inc. (AME)

Analyst Firm: BofA
Upgrade: Neutral to Buy
Price Target: $225
Friday's Close: $187.38

BofA analyst Andrew Obin upgraded Ametek to Buy from Neutral with a price target of $225, up from $195.

AMETEK is a global leader in providing industrial technology solutions across various niche markets, with annual sales exceeding $7 billion. The stock price target for AMETEK is projected to be $221.00 at the high end, $204.00 at the median, $158.00 at the low end, and an average of $199.93.

Happy investing,

Maeve Grace
Editor In Chief
Premium Stock Alerts

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.