Good Morning, Traders!…👋

U.S. stock futures held steady on Friday as markets assessed a wave of corporate earnings and potential easing in the ongoing U.S.-China trade dispute.

S&P 500 and Nasdaq 100 futures hovered slightly above the flatline, with investors weighing mixed earnings results alongside hopes for a de-escalation in trade tensions between the U.S. and China.

According to Reuters, China is looking at potential exemptions for some U.S. goods, with reports indicating that eight semiconductor-related products could be included, excluding memory chips, according to Caijing financial news.

Oil prices edged higher, but concerns about oversupply from OPEC kept the market on track for a weekly decline. OPEC+ members, including Russia, will meet on May 5 to finalize output plans for June.

Earnings Watch

Earnings today from AbbVie $ABBV ( ▲ 1.29% ), Colgate-Palmolive $CL ( ▲ 1.79% ), and Charter Communications $CHTR ( ▲ 1.83% )  before open, plus AON $AON ( ▲ 0.93% )  and AutoNation $AN ( ▼ 0.3% )  (times not specified).

Analysts expect AbbVie to report $2.85 EPS on immunology strength, Colgate-Palmolive at $0.87 EPS with stable demand, Charter at $8.15 EPS on broadband growth, AON at $5.90 EPS, and AutoNation at $4.50 EPS amid tariff concerns.

Happening Today

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

✓ 01:00 PM ET – U.S. Baker Hughes Total Rig Count

✓ 03:30 PM ET – CFTC Nasdaq 100 and S&P500 speculative net positions

PREMARKET SNAPSHOT 📈

​U.S. stock futures are mixed this morning, with the S&P 500 and Dow slightly up, while the Nasdaq shows modest gains.​

SECTOR SNAPSHOT✨

The market stayed in rally mode yesterday, with tech stocks leading a strong advance as information technology jumped sharply. Consumer discretionary, industrials, and communication services also delivered impressive gains, while energy and financials posted solid rebounds. Health care, materials, and real estate sectors added to the momentum, although consumer staples lagged slightly with a modest decline.

PreMarket Unusual Volume Stocks

📈 Odyssey Marine Exploration, Inc. $OMEX ( ▲ 1.78% ) is making headlines in pre-market trading with a gain of more than 31%. Volume has surged to 11.19M shares compared to its average of 75.77K, signaling heightened investor interest.

📈 The OLB Group, Inc. $OLB ( ▲ 8.0% ) is up nearly 26% pre-market with volume hitting 6.42M, a massive increase from its usual 116.00K daily average—indicating aggressive early buying.

📈 BIO-key International, Inc. $BKYI ( ▼ 1.89% ) is showing a solid pre-market move, rising over 10%. The stock's volume is 406.33K compared to an average of 38.74K, suggesting a notable uptick in early action.

📈 Cantor Equity Partners, Inc. $CEP ( ▼ 3.58% ) continues its impressive momentum, rising another 9% this morning. Pre-market volume stands at 212.53K, sharply above the average 71.28K, indicating ongoing bullish sentiment.

📈 Canopy Growth Corporation $CGC ( ▲ 23.88% ) is catching a bounce with a pre-market gain of more than 13%. Volume has climbed to 378.18K shares versus its average of 144.22K, reflecting renewed trader attention.

Premarket Picks

SES AI Corporation (SES) jumped 36.95% in pre-market trading to $1.19 following its earnings release and the authorization of a share repurchase program.

BigBear.ai Holdings Inc (BBAI) rose 6.53% pre-market to $3.10 after announcing its shipbuilding software platform will be used by one of the largest US shipbuilders.

Pony AI Inc. (PONY) climbed 8.85% in pre-market hours to $8.24 after selecting Hesai Sensors as the primary lidar supplier for all its seventh-generation robotaxis.

Faraday Future Intelligent Electric Inc (FFAI) advanced 7.02% pre-market to $1.22 following the appointment of its founder as co-CEO.

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

Top Upgrades:

1. Lowe’s Companies, Inc. (LOW)

Analyst Firm: KeyBanc
Analyst: Bradley Thomas
Rating Change: Sector Weight → Overweight
Price Target: Maintained at $266
Last Close: $223.00
Implied Upside (Analyst): 19.28%
Consensus Upside: 27.52%

Lowe’s received an upgrade from KeyBanc, with Bradley Thomas elevating the rating to Overweight. While the firm held its $266 price target, the stock’s current price leaves room for nearly 20% upside. Meanwhile, the broader Street is even more bullish, targeting nearly 28% upside on average, with a high forecast reaching $305.

2. Edwards Lifesciences Corporation (EW)

Analyst Firm: Piper Sandler
Analyst: Adam Maeder
Rating Change: Neutral → Overweight
Price Target: Increased from $73 to $80
Last Close: $75.13
Implied Upside (Analyst): 5.48%
Consensus Upside: 12.22%

Piper Sandler's Adam Maeder upgraded Edwards Lifesciences to Overweight and raised the price target to $80. The analyst sees moderate upside ahead, though Street consensus is more optimistic, anticipating a potential 12.22% gain from current levels. The upgrade reflects increasing confidence in the company’s cardiovascular innovation pipeline.

3. Renasant Corporation (RNST)

Analyst Firm: Raymond James
Analyst: Michael Rose
Rating Change: Outperform → Strong Buy
Price Target: Reiterated at $40
Last Close: $32.10
Implied Upside (Analyst): 24.61%
Consensus Upside: 37.42%

Raymond James raised its conviction on Renasant, upgrading it to Strong Buy while maintaining a $40 price target. The upgrade highlights confidence in the bank's fundamentals and growth outlook. Wall Street analysts are even more bullish, projecting up to 37% upside, with some forecasting a potential move toward $45.

Happy investing,

Maeve Grace
Editor In Chief
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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.