Good Morning, Traders!…👋

U.S. stock futures ticked higher Wednesday, buoyed by gains in technology stocks ahead of Nvidia’s highly anticipated earnings report. However, the session's optimism is tempered by escalating geopolitical tensions in Eastern Europe. The U.S. embassy in Kyiv has closed following warnings of a possible strike, adding to global uncertainty.

Oil prices edged higher, reflecting concerns over the potential disruption of Russian supply amid the escalating Ukraine conflict.

Retailers Target and TJX are also set to report earnings today, providing further insights into consumer spending trends.

Meanwhile, Federal Reserve Governors Lisa Cook and Michelle Bowman, along with Boston Fed President Susan Collins, are scheduled to deliver remarks that could offer clues about future monetary policy.

Happening Today

✓ 10:30 AM ET - Crude Oil Inventories

✓ 12:30 PM ET - FOMC Member Bowman Speaks

✓ 01:00 PM ET – 20-Year Bond Auction

PREMARKET SNAPSHOT 📈

Market futures are up, with the S&P 500 rising 0.10%, the Dow gaining 0.19%, and the NASDAQ up 0.11%.

SECTOR SNAPSHOT✨

Yesterday, the market showed a mixed performance across sectors. Information Technology and Communication Services led the gains, rising by 1.22% and 1.03%, respectively. Real Estate also saw a modest increase of 0.45%. Consumer Discretionary and Consumer Staples recorded slight gains, up 0.42% and 0.34%, respectively. On the downside, Energy, Financials, Health Care, and Industrials all faced declines, with Energy seeing the largest drop of 0.67%. Overall, while some sectors performed well, the market was weighed down by losses in several key areas.

PreMarket Unusual Volume Stocks

📈 Nauticus Robotics Inc (KITT) saw significant trading activity with its stock price rising 30.74% to $1.19. The volume was exceptionally high at over 22.3 million shares, far surpassing its average of 204K. This surge highlights growing investor interest in this robotics-focused company.

📈 Quantum-Si Incorporated (QSI) experienced an impressive 72.20% increase in its stock price, closing at $1.09. The trading volume exceeded 10.1 million shares, well above its average of 542K. This significant gain reflects heightened enthusiasm and potential positive developments in the company's innovative technologies.

📈 Silexion Therapeutics Corp (SLXN) posted a remarkable gain of 99.29%, pushing its stock price to $0.45. The volume reached nearly 29.7 million shares, substantially exceeding its average of 2.7 million. This sharp increase suggests strong investor confidence in the biotech firm's potential.

📈 Tonix Pharmaceuticals Holding Corp (TNXP) recorded a 46.28% gain, with its stock price closing at $0.24. The company traded a massive 68.2 million shares, far above its average volume of 28.5 million, indicating significant market attention and potential positive sentiment.

📈 Digital Brands Group Inc (DBGI) experienced a 33.62% increase in its stock price, ending the day at $0.16. The trading volume surged to 35 million shares, greatly surpassing its average of 14.7 million. This strong performance underscores renewed interest and optimism from investors.

Premarket Picks

Nauticus Robotics, Inc. (KITT) is seeing a pre-market surge of 29.64%, with its stock price reaching $1.18. This increase comes after the company announced a collaboration with SeaTrepid International to integrate its ToolKITT software into remotely operated vehicles (ROVs). This partnership is expected to enhance ROV capabilities, fueling investor interest.

Tevogen Bio Holdings Inc. (TVGN) is up by 25.00% in pre-market trading, with a price of $1.70. The surge follows the release of the company’s third-quarter 2024 financial results, which were received positively by investors and contributed to the rise in the stock price.

Quantum-Si Incorporated (QSI) is experiencing an impressive pre-market gain of 81.67%, bringing its price to $1.15. This surge is driven by two major announcements: a new collaboration with NVIDIA to develop an acceleration platform and an expanded partnership with SkyWater to advance a chip production process critical for their innovative proteomics platform.

Tonix Pharmaceuticals Holding Corp. (TNXP) is seeing a pre-market surge of 52.55%, with its stock price reaching $0.24. The increase comes after the company announced that Jessica Morris, the Chief Operating Officer, will present at the Winter 2024 Investor Summit Virtual on Thursday, November 21, 2024, at 10:00 a.m. ET.

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

Top Upgrades:

1. Newell Brands Inc. (NWL)

Analyst Firm: Barclays
Upgrade: Equal Weight to Overweight
Price Target: $10
Yesterday's Close: $8.82

Barclays has upgraded Newell Brands to "Overweight" from "Equal Weight," raising its price target to $10 from $8. Known for its iconic consumer brands such as Rubbermaid, Sharpie, Graco, Coleman, and Yankee Candle, Newell Brands continues to maintain a strong presence in the market. Analysts have provided a range of price targets, with a high estimate of $13.00, a median of $9.00, and a low of $8.00, resulting in an average target of $9.36.

2. Chewy, Inc. (CHWY)

Analyst Firm: BofA
Upgrade: Underperform to Buy
Price Target: $40
Yesterday's Close: $32.94

Bank of America analyst Curtis Nagle has upgraded Chewy from "Underperform" to "Buy," setting a new price target of $40, up from the prior $24. Chewy, a leading provider of pet products and services, has positioned itself as a trusted and convenient platform for pet owners. Analysts’ price targets for the stock range from a high of $40.00 to a low of $23.00, with a median of $33.00 and an average target of $32.20.

3. Energizer Holdings, Inc. (ENR)

Analyst Firm: JPMorgan
Upgrade: Underweight to Neutral
Price Target: $39
Yesterday's Close: $37.25

JPMorgan has revised its rating on Energizer Holdings to "Neutral" from "Underweight," raising its price target to $39, up from $32. Energizer, a globally recognized leader in battery and lighting solutions, continues to solidify its position as a trusted brand in power technology. Analysts’ price targets for the stock span a high of $45.00, a median of $38.00, and a low of $30.00, with an average target of $37.44.

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.