Good Morning, Traders!…👋

U.S. stock futures slipped Friday as investors grappled with renewed uncertainty over President Donald Trump’s evolving tariff agenda and its broader implications for the U.S. economy. The lack of clarity around the scope and timing of potential trade actions has once again put pressure on risk assets, prompting traders to reassess their exposure amid concerns over slowing growth and fiscal strain.

Markets will be watching closely later today as the Federal Reserve’s preferred inflation measure—the core Personal Consumption Expenditures (PCE) index—is released. The data could offer key insights into the strength of the economy and shape expectations for future interest rate cuts.

In commodities, Brent crude rose 0.4% to $64.41 a barrel, while spot gold slipped 0.6% to $3,296.81 an ounce.

Earnings Watch

Earnings hit today from Canopy Growth $CGC, UP Fintech $TIGR, and Shoe Carnival $SCVL before open, with no major reports after close.

Analysts expect CGC to post -$0.29 EPS with cannabis growth, TIGR to hit $0.08 EPS on trading volume, and SCVL at $0.67 EPS with retail strength.

Happening Today

✓ 08:30 AM ET – Core PCE Price Index (MoM) (YoY) (Apr)

✓ 08:30 AM ET – Goods Trade Balance (Apr)

✓ 08:30 AM ET – Personal Spending (MoM) (Apr)

✓ 08:30 AM ET – Retail Inventories Ex Auto (Apr)

✓ 09:45 AM ET – Chicago PMI (May)

✓ 10:00 AM ET – Michigan Consumer Expectations (May)

✓ 11:30 AM ET - Atlanta Fed GDPNow (Q2)

✓ 12:20 PM ET – FOMC Member Bostic Speaks

✓ 03:30 PM ET – CFTC Nasdaq 100 and S&P 500 speculative net positions

PREMARKET SNAPSHOT 📈

U.S. equity futures are slightly lower this morning as investors digest Nvidia's strong earnings report and the Trump administration's decision to appeal a federal court ruling that struck down several tariffs.

SECTOR SNAPSHOT✨

Markets saw a modest rebound as most sectors ended in the green. Consumer discretionary, staples, energy, and financials posted steady gains, while health care and real estate outperformed with stronger upside. Information technology added to its recent strength, and utilities and materials also advanced. The only outlier was communication services, which slipped slightly, ending as the sole sector in the red.

PreMarket Unusual Volume Stocks

📈 ModivCare Inc. ($MODV) rose 7.63% with 101.59K shares traded—volume exploded by 15,954.03%, signaling strong interest in the stock after a prolonged lull.

📈 Applied DNA Sciences, Inc. ($APDN) jumped 20.71% as pre-market volume hit 877.75K, a 1,656.18% increase—suggesting heightened interest, possibly tied to biotech-related catalysts.

📈 Red Robin Gourmet Burgers, Inc. ($RRGB) surged 30.35% with 464.66K in volume, up 1,450.10%—unusual activity that may hint at a turnaround narrative gaining traction.

📈 TIAN RUIXIANG Holdings Ltd ($TIRX) gained 38.25% on 4.44M volume, rising 447.38%—a notable spike in trading for this typically quiet ticker.

📈 Greenlane Holdings, Inc. ($GNLN) inched up 6.45% with 8.78M shares exchanged, up 371.01%—the stock is drawing attention despite being a sub-penny name.

Premarket Picks

Basel Medical Group Ltd (BMGL) surged 34.61% in pre-market trading, reaching $1.40. The rise comes after the company reaffirmed confidence in its financial health and strategic direction, despite recent fluctuations in its stock price.

Red Robin Gourmet Burgers, Inc. (RRGB) climbed 29.07% to $4.04 in early trading. The jump follows the release of its fiscal Q1 results, reporting revenues of $392.4 million—an increase of $3.8 million.

Applied DNA Sciences, Inc. (APDN) rose 18.90% pre-market to $0.38. The gain follows news of a planned 1-for-15 reverse stock split, effective June 2, 2025, with trading at the adjusted price to begin the same day on Nasdaq.

iQSTEL Inc. (IQST) saw a 16.31% increase to $9.77 ahead of market open. The move comes after the company announced a definitive agreement to acquire a 51% stake in GlobeTopper, a growing fintech player with global operations.

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

Top Upgrades:

1. HCI Group, Inc. (HCI)

Analyst Firm: Compass Point
Upgraded: Neutral to Buy
Price Target: $205
Yesterday's Close: $162.85

Compass Point has raised its rating on HCI Group from Neutral to Buy and increased the price target from $148 to $205. Analysts have set varied price targets for HCI Group, Inc., with a high of $225.00, a median of $190.00, and a low of $148.00. The average target comes in at $188.25. The company provides insurance, reinsurance, real estate, and IT services across the U.S.

2. BRP Inc. (DOOO)

Analyst Firm: Desjardins
Upgraded: Hold to Buy
Price Target: $56.44
Yesterday's Close: $40.55

Desjardins analyst Benoit Poirier upgraded BRP Inc. from Hold to Buy, setting a new price target of $56.44. For BRP Inc., which manufactures and sells powersports and marine vehicles across North America, Europe, and Australia, analysts predict a high price target of $56.48. The median stands at $47.79, the low at $36.06, and the average at $47.05.

3. Nordson Corporation (NDSN)

Analyst Firm: Oppenheimer
Upgraded: Perform to Outperform
Price Target: $260
Yesterday's Close: $208.97

Oppenheimer’s Christopher Glynn has upgraded Nordson from Perform to Outperform, assigning a price target of $260. Nordson Corporation, known for its systems that apply and control adhesives, coatings, and other fluids, has an average analyst price target of $248.88. Estimates range from a low of $211.00 to a high of $285.00, with a median target of $247.50.

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.