Good Morning, Traders!…👋

Stock futures fell early Tuesday after Russian President Vladimir Putin provided an update on the country’s nuclear doctrine, stirring market concerns. In response, gold futures surged 1.8% to $2,610 per troy ounce as investors moved toward safe-haven assets amid rising geopolitical tensions.

Though earnings season is nearing its end, key reports are still in focus. AI chip leader Nvidia is set to release its earnings after the market close on Wednesday, a report that could significantly impact market sentiment, particularly within the tech sector.

Nvidia recently ended its nine-day run as the world's most valuable company, overtaken by Apple—but that dynamic could shift again this week. Retail earnings will also attract attention, with Lowe’s and Walmart reporting ahead of the market open, followed by Target on Wednesday.

Among individual stock movers, Super Micro Computer shares surged after the company submitted a plan to secure its Nasdaq listing. Meanwhile, investors are closely watching Nvidia’s upcoming earnings as the potential next major market catalyst. Walmart’s quarterly report is also on deck for Tuesday.

Happening Today

✓ 08:30 AM ET - Building Permits (Oct)

✓ 08:30 AM ET - Housing Starts (MoM) (Oct)

✓ 11:00 AM ET - Atlanta Fed GDPNow (Q4)

✓ 04:30 PM ET – API Weekly Crude Oil Stock

PREMARKET SNAPSHOT 📈

Market futures are down, with the S&P 500 falling 0.43%, the Dow declining 0.62%, and the NASDAQ down 0.32%.

SECTOR SNAPSHOT✨

Yesterday, the market showed a generally positive trend with several sectors closing in the green. Consumer Discretionary and Energy led the gains, rising by 0.85% and 1.05%, respectively. Materials, Real Estate, and Communication Services also performed well, posting increases of 0.74%, 0.84%, and 1.04%. While Health Care remained flat, Financials and Information Technology saw modest gains. On the downside, Industrials was the only sector to close lower, slipping by 0.17%. Overall, the market experienced positive momentum, with most sectors advancing.

PreMarket Unusual Volume Stocks

📈 PainReform Ltd (PRFX) had a stellar trading session, with its stock price soaring 171.03% to close at $1.45. The trading volume was exceptionally high at over 34.4 million shares, far surpassing its average of 499K. This significant surge reflects strong investor enthusiasm and potential positive developments for the company.

📈 Tff Pharmaceuticals Inc (TFFP) experienced a 13.98% increase in its stock price, reaching $0.41. The company saw a trading volume of over 18.3 million shares, well above its average of 293K. This gain indicates rising interest from investors in this pharmaceutical stock.

📈 Alternus Clean Energy Inc (ALCE) saw its stock price rise by 24.05%, closing at $1.96. The trading volume reached over 5.7 million shares, which is substantially higher than its average of 221K. This increase points to growing market interest in clean energy companies.

📈 Interactive Strength Inc (TRNR) posted a 45.85% gain, bringing its stock price to $3.69. The trading volume was over 2.2 million shares, much higher than its average of 144K. This sharp rise suggests strong investor confidence and potential positive catalysts for the company.

📈 Volato Group Inc (SOAR) had a robust performance, with its stock price increasing by 41.61% to $0.30. The company traded over 17.1 million shares, far exceeding its average volume of 1.3 million. This significant volume and price movement highlight increased market attention and potential strategic developments.

Premarket Picks

PainReform Ltd. (PRFX) saw a significant pre-market surge of 161.68%, with shares reaching $1.40. The jump in stock price followed the company’s filing of a 6-K form with the SEC, which provided important corporate disclosures.

Volato Group, Inc. (SOAR) stock price rose by 37.91% in pre-market trading, reaching $0.29. This surge came after the company reported its third-quarter 2024 results, which included total revenue of $40.3 million, boosting investor optimism.

Super Micro Computer, Inc. (SMCI) experienced a pre-market increase of 22.61%, with shares reaching $26.41. The surge followed the company’s announcement of its highest-performing SuperCluster, an AI data center solution featuring NVIDIA’s Blackwell platform. Additionally, Super Micro revealed that its Board of Directors had engaged BDO USA, P.C. as its new independent auditor.

HCW Biologics Inc. (HCWB) saw a pre-market rise of 17.74%, with shares reaching $1.46. This increase followed the announcement of a $6.9 million registered direct offering and concurrent private placement priced above market. The company also disclosed a worldwide exclusive license agreement with WY Biotech Co., Ltd. to develop and commercialize one of its promising therapeutic product candidates.

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

Top Upgrades:

1. BioNTech SE (BNTX)

Analyst Firm: Evercore ISI
Upgrade: In-Line to Outperform
Price Target: $125
Yesterday's Close: $101.87

Evercore ISI has upgraded BioNTech SE from an "In-Line" to an "Outperform" rating, raising the price target to $125 from the previous $110. BioNTech, a trailblazer in biopharmaceutical innovation, focuses on developing cutting-edge immunotherapies aimed at treating cancer and other severe diseases.

Current analyst projections for BioNTech’s stock range from a high of $161.69 to a low of $103.88, with a median estimate of $125.31 and an average target of $128.81.

2. American Water Works Company, Inc. (AWK)

Analyst Firm: UBS
Upgrade: Neutral to Buy
Price Target: $155
Yesterday's Close: $136.67

UBS analyst Gregg Orrill upgraded American Water Works from "Neutral" to "Buy," with an adjusted price target of $155, up from $151. Founded in 1886, American Water Works is the largest regulated water and wastewater utility in the United States, serving over 14 million customers across 14 states and 18 military bases.

The company is known for its commitment to providing safe, dependable, and cost-effective water services. Analysts have set the stock's price target with a high of $164.00, a median of $145.00, a low of $124.00, and an average target of $143.60.

3. QuantumScape Corporation (QS)

Analyst Firm: HSBC
Upgrade: Reduce to Hold
Price Target: $5.30
Yesterday's Close: $4.73

HSBC has raised its rating on QuantumScape Corporation from "Reduce" to "Hold," with a revised price target of $5.30. QuantumScape leads the charge in revolutionizing energy storage technology with its development of next-generation batteries that promise higher energy density, faster charging capabilities, and improved safety standards.

This technological advancement supports the global shift toward a more sustainable and lower-carbon future. Analysts have set a price target for QuantumScape with a high of $10.00, a median of $6.15, a low of $4.50, and an average target of $6.48.

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.