Good Morning, Traders!…👋

Stock futures were little changed early Monday after the S&P 500 and Dow hit new highs on Friday, driven by strong earnings from JPMorgan and Wells Fargo. This week, attention turns to results from major financial players like Bank of America, Citigroup, and Goldman Sachs.

This week is packed with earnings reports from key financial institutions like Goldman Sachs, Morgan Stanley, and Citigroup, along with corporate giants such as Netflix and Procter & Gamble. On the economic front, retail sales data will be a key focus in an otherwise light calendar.

On Monday, Boeing shares fell 1.5% in premarket trading after the aerospace company announced plans to cut 10% of its workforce, approximately 17,000 jobs, and warned of deeper losses. Meanwhile, Tesla shares gained 1.5%, recovering from Friday’s dip when analysts criticized Elon Musk’s robotaxi reveal for lacking financial specifics.

Crypto-related stocks, including Coinbase and MicroStrategy, also rose as Bitcoin prices surged above $64,000 ahead of the market open.

Happening Today

✓ 09:00 AM ET – FOMC Member Kashkari Speaks

✓ 11:00 AM ET – NY Fed 1-Year Consumer Inflation Expectations (Sep)

✓ 03:00 PM ET – Fed Waller Speaks

✓ 05:00 PM ET – FOMC Member Kashkari Speaks

PREMARKET SNAPSHOT 📈

Market futures are mixed, with the S&P 500 up 0.23% and the NASDAQ gaining 0.34%, while the Dow is down slightly by 0.06%.

SECTOR SNAPSHOT✨

Yesterday's market exhibited a mixed performance, with several sectors posting gains. Consumer Discretionary faced a slight decline, while Consumer Staples managed a modest increase. Energy and Financials both recorded solid gains, with Financials showing particularly strong performance. Health Care and Industrials also performed well, contributing positively to the overall sentiment. Materials had a nice uptick, and Real Estate enjoyed a significant rise. While Information Technology remained nearly flat, Communication Services and Utilities both posted solid increases, rounding out a day of mostly positive results despite some losses in specific areas.

PreMarket Unusual Volume Stocks

📈 Inventiva ADR (IVA) is showing strong pre-market activity, with over 1.3 million shares traded, significantly exceeding its average volume of 9K. The stock has surged 53.44%, bringing its pre-market price to $2.90. This sharp increase in both volume and price signals heightened investor interest as the market prepares to open.

📈 Rani Therapeutics Holdings Inc (RANI) has seen impressive pre-market movement, with nearly 5 million shares traded, far surpassing its average volume of 59K. The stock is up 11.88%, bringing its pre-market price to $2.26. This strong upward trend suggests momentum going into regular trading hours.

📈 Tevogen Bio Holdings Inc. (TVGN) is experiencing a substantial pre-market surge, with over 8.3 million shares traded, compared to its average volume of 948K. The stock has skyrocketed 116.28%, pushing its pre-market price to $0.82. This massive gain indicates strong demand and interest from investors.

📈 Safe and Green Development Corp (SGD) has traded over 771K shares pre-market, higher than its average volume of 100K. The stock is up 7.01%, bringing its pre-market price to $3.97. This moderate gain suggests positive sentiment heading into the trading session.

📈 Cemtrex Inc. (CETX) has seen a significant rise in pre-market volume, with over 7.9 million shares traded, compared to its average volume of 1.4 million. The stock is up 5.24%, with a pre-market price of $0.46. This early activity indicates continued interest as trading begins.

Premarket Picks

Tevogen Bio Holdings Inc. (TVGN) saw its stock soar by 114.01%, bringing its pre-market price to $114.01 following an update on its expanding therapeutic pipeline aimed at addressing the significant needs of cancer patients.

Inventiva S.A. (IVA) experienced a 56.08% increase in its shares, rising to a pre-market price of $2.95 after announcing immediate financing of €94.1 million, with potential total funding of €348 million, to support the completion of the Phase 3 NATiV3 MASH trial and prepare for the marketing approval of lanifibranor.

Longboard Pharmaceuticals, Inc. (LBPH) shares climbed by 49.97%, reaching $58.34 in pre-market trading after news of its acquisition by Lundbeck, leading investors to expect enhancements to its neuroscience pipeline.

NanoVibronix, Inc. (NAOV) saw a 14.77% increase, with its pre-market price rising to $0.64 following the filing of an 8-K form with the SEC.

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

Top Upgrades:

1. Flutter Entertainment plc (FLUT)

Analyst Firm: Wells Fargo
Upgrade: Equal Weight to Overweight
Price Target: $295
Friday's Close: $219.50

Wells Fargo analyst Daniel Politzer has upgraded Flutter Entertainment from "Equal Weight" to "Overweight," setting a new price target of $295, up from $224, indicating a potential 34% upside. Analyst price targets for Flutter Entertainment range from a low of $190.72 to a high of $355.00, with a median estimate of $270.00 and an average target of $268.67.

Flutter Entertainment is a leading global sports betting and gaming company, with operations across the UK, Ireland, Australia, the U.S., Italy, and other regions.

2. SentinelOne, Inc. (S)

Analyst Firm: Piper Sandler
Upgrade: Neutral to Overweight
Price Target: $32
Friday's Close: $25.71

Piper Sandler has upgraded SentinelOne from "Neutral" to "Overweight," increasing the price target to $32 from $25. Analysts have set stock price targets for SentinelOne with a low of $23.00 and a high of $35.00, a median estimate of $29.00, and an average target of $28.96.

SentinelOne is a leader in AI-powered cybersecurity, utilizing its unified Data Lake to create intelligent security solutions.

3. AptarGroup, Inc. (ATR)

Analyst Firm: Jefferies
Upgrade: Hold to Buy
Price Target: $215
Friday's Close: $161.55

Jefferies has upgraded AptarGroup from "Hold" to "Buy," raising the price target to $215 from $155. Analysts' stock price target estimates for AptarGroup range from a low of $168.00 to a high of $215.00, with a median target of $172.00 and an average of $181.75.

AptarGroup is a global leader in providing innovative technologies for dosing, dispensing, and protecting pharmaceutical and consumer products.

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.