Good Morning, Traders!…👋

Markets opened lower on Friday as investors navigated rising geopolitical tensions and persistent weakness in the tech sector. Dow Jones Industrial Average futures dropped 148 points, or 0.4%, with S&P 500 and Nasdaq 100 futures each slipping 0.4% and 0.5%, respectively.

The declines come amid escalating concerns tied to Russia’s war in Ukraine. On Thursday, Russia launched an intercontinental ballistic missile targeting Dnipro, following Ukraine’s earlier long-range missile strikes into Russian territory.

Earlier in the week, President Vladimir Putin’s updates to Russia’s nuclear doctrine further unsettled markets. Despite these developments, investors remain cautiously focused on earnings and other economic indicators.

Among key market movers, Nvidia shares are trading lower following recent volatility. MicroStrategy is attempting to recover from Thursday’s steep losses, while Gap has surged after surpassing earnings expectations and raising its full-year sales guidance. As the week wraps up, traders are balancing these events alongside broader market uncertainties heading into the weekend.

Happening Today

✓ 09:45 AM ET - S&P Global US Manufacturing PMI (Nov)

✓ 09:45 AM ET - S&P Global Services PMI (Nov)

✓ 10:00 AM ET - Michigan Consumer Sentiment (Nov)

✓ 03:30 PM ET – CFTC Nasdaq 100/S&P 500 speculative net positions

PREMARKET SNAPSHOT 📈

Market futures are down, with the S&P 500 falling 0.15%, the Dow declining 0.07%, and the NASDAQ down 0.24%.

SECTOR SNAPSHOT✨

Yesterday, most sectors showed positive momentum, with Utilities leading the gains, rising by 1.75%. Financials, Health Care, Industrials, and Materials also performed well, increasing by 1.27%, 0.83%, 1.23%, and 1.20%, respectively. Consumer Staples saw a solid gain of 1.24%. However, Consumer Discretionary and Communication Services faced declines, with Consumer Discretionary dropping 0.30% and Communication Services falling sharply by 1.73%. Information Technology ended the day in the green, up 0.56%. Overall, the market experienced a mostly positive day, with a few notable exceptions.

PreMarket Unusual Volume Stocks

📈 Virpax Pharmaceuticals Inc (VRPX) had a remarkable trading session, with its stock price rising by 72.97% to close at $1.02. The company saw a trading volume of over 16.7 million shares, far exceeding its average of 408K. This significant surge reflects heightened investor interest and optimism about the company’s prospects.

📈 Wellchange Holdings Co. Ltd (WCT) posted an impressive gain of 93.60%, closing at $2.42. The trading volume reached 15.9 million shares, significantly higher than its average of 1.5 million. This notable increase suggests strong market enthusiasm and potential positive developments for the company.

📈 MSP Recovery Inc (LIFW) recorded a solid performance, with its stock price climbing 47.97% to $2.19. The trading volume was over 1 million shares, surpassing its average of 242K. This rise indicates renewed investor confidence and growing interest in the company's business.

📈 SKK Holdings Ltd (SKK) saw its stock price rise by 27.36%, closing at $1.40. The company traded nearly 4.9 million shares, well above its average of 1.8 million, highlighting increased attention and positive sentiment in the market.

📈 Beneficient (BENF) experienced a gain of 20.45%, with its stock price reaching $1.06. The trading volume was over 9 million shares, exceeding its average of 5.3 million. This steady increase signals positive investor sentiment and strong interest in the company.

Premarket Picks

Virpax Pharmaceuticals, Inc. (VRPX) saw a significant pre-market surge of 71.27%, with its stock price rising to $1.01. This increase followed the announcement that the company had entered into an agreement with the U.S. Department of Health and Human Services.

MSP Recovery, Inc. (LIFW) stock price rose by 45.94%, reaching $2.16 in pre-market trading. This surge came after the company announced that it had reached a preliminary $2 million settlement as part of its pharmaceutical litigation portfolio. Additionally, MSP Recovery is continuing settlement negotiations with pharmaceutical and medical device manufacturers, as well as property and casualty insurers.

Elastic N.V. (ESTC) experienced a 28.01% pre-market surge, with its stock price climbing to $120.50. The increase followed the company’s release of strong financial results for the second quarter of fiscal 2025, reporting revenue of $365 million, which reflects an 18% year-over-year growth.

Beneficient (BENF) saw its stock price rise by 18.18%, reaching $1.04 in pre-market trading. The surge was triggered by the announcement that its subsidiary, Beneficient Company Holdings, L.P., had completed a transaction redesignating approximately $35 million of its preferred equity as non-redeemable. This move added $35 million in permanent equity to the company’s balance sheet.

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

Top Upgrades:

1. Elastic N.V. (ESTC)

Analyst Firm: Baird
Upgrade: Neutral to Outperform
Price Target: $135
Yesterday's Close: $94.13

Baird has upgraded Elastic N.V. (ESTC) from Neutral to Outperform, raising the price target significantly from $95 to $135.

Elastic, a pioneer in Search AI, delivers a platform that empowers real-time insights from data at scale. The company's solutions span search, observability, and security, serving thousands of organizations globally, including half of the Fortune 500.

Analysts have set a stock price target range with a high of $140.00, a median of $130.00, and a low of $80.00, culminating in an average target of $121.24. This upgrade underscores the growing market confidence in Elastic's ability to leverage its technology to drive innovation and value.

2. Bright Horizons Family Solutions Inc. (BFAM)

Analyst Firm: Baird
Upgrade: Neutral to Outperform
Price Target: $140
Yesterday's Close: $111.05

Baird analyst Jeffrey Meuler has elevated Bright Horizons Family Solutions (BFAM) to an Outperform rating from Neutral, maintaining the price target at $140.

Bright Horizons stands as a global leader in early education and child care services, workforce education solutions, and backup care. It is a trusted partner for families and employers alike.

Analyst forecasts indicate a price target range with a high of $162.00, a low of $108.00, and an average target of $141.70, reflecting optimism around the company’s steady operational growth and strong market position.

3. XPeng Inc. (XPEV)

Analyst Firm: China Renaissance
Upgrade: Hold to Buy
Price Target: $16.70
Yesterday's Close: $12.29

China Renaissance has upgraded XPeng Inc. (XPEV) from Hold to Buy, setting a revised price target of $16.70.

As a leading Chinese smart electric vehicle (EV) manufacturer, XPeng continues to innovate with its cutting-edge EV technologies designed for a tech-driven, middle-class consumer base.

Analysts forecast a stock price range with a high of $17.00, a low of $7.00, and an average of $12.26. The upgrade reflects growing confidence in XPeng's ability to capture a larger share of the rapidly expanding global EV market.

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.