Good Morning, Traders!…👋

Big Tech earnings are unsettling investors, with stock futures slipping in Thursday’s premarket session.

Earnings remain in the spotlight, with Apple and Amazon set to report after the closing bell. Meanwhile, economic data will also play a critical role on this Halloween trading day, with the personal consumption expenditures (PCE) index—the Federal Reserve’s preferred inflation measure—due for release. Economists expect a slight uptick, which could influence the Fed’s rate outlook.

Uncertainty clouds the months ahead, as strong economic data adds complexity to the Fed's potential rate-cut plans. Private payrolls jumped by 233,000 in October, more than doubling expectations, while U.S. GDP grew at a solid 2.8% in the third quarter, slightly below estimates of 3.1% but still signaling resilience in the economy.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

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

✓ 08:30 AM ET – Core PCE Prices (Q3)

✓ 09:45 AM ET – Chicago PMI (Oct)

✓ 11:30 AM ET – Atlanta Fed GDPNow

✓ 04:30 AM ET – Fed's Balance Sheet

PREMARKET SNAPSHOT 📈

Market futures are down, with the S&P 500 falling 0.78%, the Dow down 0.49%, and the NASDAQ declining 1.03%.

SECTOR SNAPSHOT✨

Yesterday's market showed a mixed performance, with several sectors posting gains while others experienced declines. Consumer Discretionary and Energy had slight increases, reflecting a stable outlook in those areas. Financials also saw a modest uptick, contributing positively to the overall sentiment. Materials and Real Estate recorded gains, indicating some strength amidst broader market fluctuations. However, Consumer Staples, Health Care, and Industrials faced slight declines, while Information Technology experienced a notable drop. Communication Services managed a solid gain, rounding out a day characterized by mixed results across sectors.

PreMarket Unusual Volume Stocks

📈 CPS Technologies Corporation (CPSH) is showing notable pre-market activity, with over 5.9 million shares traded, far exceeding its average volume of 60K. The stock has gained 19.31%, bringing its pre-market price to $1.73. This significant rise reflects strong investor interest.

📈 Blue Star Foods Corp (BSFC) has seen increased pre-market volume, trading over 9 million shares against its average volume of 1.1 million. The stock is up 3.35%, with a pre-market price of $0.34. This moderate gain suggests positive sentiment heading into the trading day.

📈 LuxUrban Hotels Inc (LUXH) is experiencing massive pre-market action, with over 66 million shares traded compared to its average of 13.8 million. The stock has risen 6.20%, bringing its pre-market price to $0.04. This large volume increase indicates heightened interest.

📈 1847 Holdings LLC (EFSH) has traded over 7.6 million shares pre-market, well above its average volume of 1.6 million. The stock has surged 105.92%, pushing its pre-market price to $0.80. This sharp increase signals strong demand from investors.

📈 Tff Pharmaceuticals Inc (TFFP) has seen pre-market activity of over 119K shares, compared to its average of 59K. The stock is up 1.59%, with a pre-market price of $2.55. This moderate gain may reflect cautious optimism as the session begins.

Premarket Picks

Root, Inc. (ROOT) is seeing a pre-market price of $72.39, reflecting a surge of 78.78%. This jump follows the company's announcement of a successful refinancing of its term loan facility with BlackRock, alongside its third-quarter results for 2024.

1847 Holdings LLC (EFSH) has reached a pre-market price of $0.72, with an increase of 85.55%. This surge comes after the company announced the closing of an $11.1 million public offering.

CPS Technologies Corporation (CPSH) is trading at a pre-market price of $1.76, marking a gain of 21.37%. This rise is attributed to CPS Technologies' announcement of a $12 million contract with a semiconductor OEM.

Alphatec Holdings, Inc. (ATEC) has a pre-market price of $6.95, up by 23.67%. This increase follows ATEC's report of its third-quarter 2024 financial results and an upward revision of its full-year guidance.

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

Top Upgrades:

1. Danaher Corporation (DHR)

Analyst Firm: Wolfe Research
Upgrade: Peer Perform to Outperform
Price Target: $285
Yesterday's Close: $242.32

Wolfe Research has upgraded Danaher from "Peer Perform" to "Outperform," setting a price target of $285. Analysts project the stock price with a high estimate of $315.00, a median of $290.00, a low of $255.00, and an average target of $290.86.

Danaher Corporation, a global leader in life sciences and diagnostics, is dedicated to advancing human health through scientific and technological innovation, collaborating with clients to tackle critical health challenges worldwide.

2. Electronic Arts Inc. (EA)

Analyst Firm: DZ Bank
Upgrade: Hold to Buy
Price Target: $177
Yesterday's Close: $149.14

DZ Bank has raised its rating on Electronic Arts from "Hold" to "Buy," assigning a price target of $177. Analyst estimates for EA's stock price include a high of $183.00, a median of $162.50, a low of $139.00, and an average of $162.41.

As a leader in digital interactive entertainment, Electronic Arts develops and delivers games, content, and online services for a range of platforms, solidifying its strong standing in the gaming industry.

3. Omega Healthcare Investors, Inc. (OHI)

Analyst Firm: Exane BNP Paribas
Upgrade: Neutral to Outperform
Price Target: $49
Yesterday's Close: $42.53

Exane BNP Paribas analyst Nate Crossett has upgraded Omega Healthcare’s rating from "Neutral" to "Outperform," with a target price of $49. The stock price targets for Omega Healthcare Investors include a high of $49.00, a median of $40.00, a low of $35.00, and an average of $41.07.

Omega Healthcare is a REIT specializing in long-term healthcare investments, primarily focusing on skilled nursing and assisted living facilities managed under triple-net leases in the U.S. and U.K.

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.