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- ⏳ Time’s Ticking—Pre-Bell Breakouts!
⏳ Time’s Ticking—Pre-Bell Breakouts!
Noor Saba
October 23, 2024
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Good Morning, Traders!…👋
Stock futures were down early Wednesday during a busy week for company earnings. Notable names reporting today include Tesla, Coca-Cola, AT&T, and T-Mobile. Tuesday's earnings results were mixed: General Motors, GE Aerospace, and Philip Morris exceeded expectations, while Starbucks and Texas Instruments disappointed investors.
The 10-year Treasury yield ticked up slightly to 4.229%, compared with 4.21% the previous day and 3.73% at the beginning of October. The 2-year yield also rose to 4.059%, up from 3.62% three weeks ago.
Oil prices slipped in early trading amid reports of a buildup in U.S. crude stockpiles and continued monitoring of the Middle East. Brent crude was down 0.6% at $75.59 a barrel, while West Texas Intermediate (WTI) fell 0.7% to $71.26 a barrel after both benchmarks had closed higher in the previous session.
Meanwhile, gold futures rose 0.3% to $2,768.40 per troy ounce, setting a fresh record earlier in the session at $2,769.50 per ounce.
Happening Today
✓ 09:00 AM ET – FOMC Member Bowman Speaks
✓ 10:00 AM ET – Existing Home Sales (Sep)
✓ 10:30 AM ET – Crude Oil Inventories
✓ 01:00 0M ET – 20-Year Bond Auction
✓ 02:00 PM ET – Beige Book
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PREMARKET SNAPSHOT 📈
Market futures are down, with the S&P 500 declining 0.20%, the Dow falling 0.48%, and the NASDAQ down 0.34%.
S&P500$5880.50 ⬇️ 0.20% | Dow$42963.00 ⬇️ 0.48% | NASDAQ$20472.50 ⬇️ 0.34% |
SECTOR SNAPSHOT✨
Yesterday's market exhibited a mixed performance across sectors. Consumer Discretionary experienced a slight decline, while Financials and Health Care also faced minor drops. In contrast, Consumer Staples posted a notable gain, reflecting positive consumer sentiment. Energy managed a small increase, and Real Estate saw a slight uptick as well. Information Technology and Communication Services both recorded modest gains, contributing to the overall positive sentiment. However, Industrials and Materials continued to struggle, indicating some weakness in those areas. Utilities rounded out the day with a slight decline, highlighting the mixed results across the market.
Name | Price | Change Percentage |
Consumer Discretionary | 1,581.21 | -0.27% 🔴 |
Consumer Staples | 882.24 | +0.92% 🟢 |
Energy | 695.16 | +0.20% 🟢 |
Financials | 784.24 | -0.12% 🔴 |
Health Care | 1,760.70 | -0.16% 🔴 |
Industrials | 1,159.22 | -1.19% 🔴 |
Materials | 606.75 | -0.86% 🔴 |
Real Estate | 275.13 | +0.16% 🟢 |
Information Technology | 4,575.76 | +0.15% 🟢 |
Communication Services | 316.55 | +0.35% 🟢 |
Utilities | 413.03 | -0.40% 🔴 |
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PreMarket Unusual Volume Stocks
📈 DBV Technologies ADR (DBVT) is experiencing substantial pre-market activity, with over 9.3 million shares traded compared to its average volume of 71K. The stock has surged 75.71%, bringing its pre-market price to $1.23. This strong rise in both volume and price suggests significant investor interest.
📈 Biosig Technologies Inc (BSGM) has seen a notable pre-market boost, with over 1.4 million shares traded, far exceeding its average volume of 40K. The stock is up 71.64%, pushing its pre-market price to $1.15. This considerable gain reflects growing optimism among traders.
📈 Cns Pharmaceuticals Inc (CNSP) is showing extraordinary pre-market volume, with over 60 million shares traded, far exceeding its average volume of 4.8 million. The stock has skyrocketed 155.26%, bringing its pre-market price to $0.40. This dramatic increase signals heightened interest in the stock.
📈 Mustang Bio Inc (MBIO) has traded over 7.7 million shares pre-market, compared to its average volume of 1.4 million. The stock has gained 38.21%, bringing its pre-market price to $0.39. This strong upward movement indicates continued momentum.
📈 22nd Century Group Inc (XXII) has seen pre-market volume of over 22.3 million shares, well above its average of 5 million. The stock has risen 37.21%, with a pre-market price of $0.16. This notable increase reflects strong early market interest.
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Premarket Picks
DBV Technologies S.A. (DBVT) experienced a pre-market price of $1.21, surging 72.86%. This increase follows the announcement of positive regulatory updates for the Viaskin® Peanut Patch in both the United States and Europe.
ShiftPixy Inc (PIXY) saw its pre-market price reach $9.80, reflecting a surge of 19.66%. This jump is attributed to the company’s signing of a Letter of Intent (LOI) to acquire TurboScale, indicating potential growth opportunities.
Stride, Inc. (LRN) reported a pre-market price of $80.25, with a surge of 24.44%. The company's performance is bolstered by strong results for its first fiscal quarter, which ended on September 30, 2024.
ENDRA Life Sciences Inc. (NDRA) had a pre-market price of $0.47, marking a 12.41% increase. This rise follows the activation of a post-market clinical study, with the first patient successfully scanned using the TAEUS liver system at LMU University Hospital in Munich, a prominent medical research center in Europe.
Below is a list of other hot stocks in pre-market today:
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
CNSP | +129.42% | 42.49M |
XXII | +20.50% | 18.65M |
ZPTA | +43.53% | 11.38M |
MBIO | +52.82% | 6.30M |
FAMI | +47.95% | 3.52M |
PHUN | +24.83% | 2.71M |
BJDX | +6.18% | 1.41M |
DJT | +4.97% | 1.23M |
SAVE | +20.85% | 1.16M |
CDT | +6.45% | 784.98K |
If you've been following the AI revolution, there's a chance you can guess who's #1 on my brand new list of the best AI stocks to own (if you are lucky, you may even own some shares of this powerhouse already). But I doubt you can guess who's #3 on the list. (HINT: It delivers a technology that's critical to the AI revolution and will soon be embedded in countless consumer products.)
Learn the names of all 10 stocks here. FREE.
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Top Upgrades:
1. A. O. Smith Corporation (AOS)
Analyst Firm: UBS
Upgrade: Sell to Neutral
Price Target: $80
Yesterday's Close: $78.21
UBS analyst Damian Karas has upgraded A.O. Smith Corporation from "Sell" to "Neutral," increasing the price target from $75 to $80. A.O.
Smith, a global leader in energy-efficient water heating equipment, boilers, and water treatment products, has stock price targets that range from a low of $71.00 to a high of $95.00, with a median target of $85.00 and an average target of $85.33.
2. Quest Diagnostics Incorporated (DGX)
Analyst Firm: Baird
Upgrade: Neutral to Outperform
Price Target: $182
Yesterday's Close: $157.47
Baird upgraded Quest Diagnostics from "Neutral" to "Outperform," raising the price target from $157 to $182.
Quest Diagnostics is dedicated to providing diagnostic insights from lab testing to improve health outcomes. Stock price targets for Quest Diagnostics range from a low of $145.00 to a high of $182.00, with a median estimate of $165.00 and an average target of $166.73.
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3. Snap Inc. (SNAP)
Analyst Firm: JMP Securities
Upgrade: Market Perform to Outperform
Price Target: $17
Yesterday's Close: $9.98
JMP Securities analyst Andrew Boone has upgraded Snap Inc. from "Market Perform" to "Outperform," setting a price target of $17.
Snap Inc., known for its innovative camera technology that enhances communication and self-expression, has stock price targets ranging from a low of $8.00 to a high of $18.00.
The median target is $12.00, while the average target stands at $12.68, reflecting the company's potential in the tech space.
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.
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