Happy Christmas, Traders!…👋

U.S. stock futures are advancing Monday, led by tech stocks as optimism around artificial intelligence continues to fuel market momentum.

Chip stocks are gaining globally after Taiwan's Foxconn reported strong AI server demand that boosted its fourth-quarter sales, with expectations for "significant growth" in the first quarter.

Additionally, OpenAI CEO Sam Altman revealed that high usage of its professional subscription service is leading to losses, underscoring the rapid growth of AI-related services. It’s a relatively quiet day for economic updates, with factory orders, a 3-year Treasury note auction, and a speech from Federal Reserve Governor Lisa Cook on the docket.

Markets are looking ahead to Friday’s nonfarm payrolls report for further insights into the labor market.

Happening Today

✓ 09:45 AM ET – S&P Global Services PMI (Dec)

✓ 10:00 AM ET – Factory Orders (MoM) (Nov)

✓ 01:00 PM ET – 3-Year Note Auction

PREMARKET SNAPSHOT 📈

Market futures are showing strong gains, with the S&P 500, Dow, and NASDAQ all rising significantly.

SECTOR SNAPSHOT✨

Yesterday market saw a strong rebound across sectors, led by a robust performance in consumer discretionary and information technology. Health care, financials, and industrials also delivered notable gains, reflecting broad investor optimism. Energy and utilities added steady growth, while real estate posted a solid recovery. Even traditionally stable sectors like staples and materials ended in the green, indicating widespread confidence. Communication services also contributed to the positive momentum, capping off an overall upbeat trading session.

PreMarket Unusual Volume Stocks

📈 Magic Empire Global Ltd (MEGL) experienced a remarkable surge of 207.77%, closing at 1.73. The trading volume skyrocketed to 35,101,362 shares, significantly surpassing its average volume of 320.63.

📈 Ekso Bionics Holdings Inc (EKSO) posted a gain of 65.75%, closing at 1.21. The trading volume reached 17,525,457 shares, far exceeding its average volume of 161.42.

📈 Smart Share Global Ltd ADR (EM) recorded an increase of 48.21%, closing at 1.06. The trading volume was 1,160,637 shares, compared to an average volume of 60.12.

📈 CytoMed Therapeutics Ltd (GDTC) saw a significant jump of 100.58%, closing at 6.92. The trading volume reached 621,184 shares, far surpassing its average volume of 23.23.

📈 Microbot Medical Inc (MBOT) experienced a rise of 66.82%, closing at 3.57. The trading volume was 12,812,547 shares, well above its average volume of 746.37.

Premarket Picks

Smart Share Global Limited (EM) saw its pre-market price rise to $1.07, marking a surge of 48.61%. This sharp increase is attributed to the company’s announcement of receiving a preliminary non-binding proposal to acquire the company, which has sparked investor interest.

CNS Pharmaceuticals, Inc. (CNSP) experienced a pre-market price of $0.14, showing an increase of 17.88%. The surge follows the company’s submission of an 8-K form to the SEC, which has likely contributed to the uptick in activity.

LeddarTech Holdings Inc. (LDTC) had a pre-market price of $2.18, reflecting a 37.97% surge. This increase is possibly linked to the company’s upcoming showcase of its LeddarVision Surround-View (LVS-2+) at CES 2025, drawing attention from investors.

Nauticus Robotics, Inc. (KITT) saw its pre-market price jump to $6.95, a rise of 82.89%. The surge is attributed to the company filing an 8-K form with the SEC, signaling developments that have caught investors' attention.

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

Top Upgrades:

1. Graphic Packaging Holding Company (GPK)

Analyst Firm: Wells Fargo
Upgraded: Underweight to Equal Weight
Price Target: $27
Friday's Close: $26.49

Wells Fargo analyst Gabe Hajde raised his rating for Graphic Packaging to Equal Weight from Underweight, adjusting the price target to $27, up from $24.

Analysts have set a stock price target for Graphic Packaging Holding Company with a high estimate of $36.80, a median of $33.00, and a low of $24.00. The average target price comes to $32.53. The company, along with its subsidiaries, specializes in designing, producing, and selling consumer packaging products for various industries including food, beverage, foodservice, household, and other consumer goods.

2. Kearny Financial Corp. (KRNY)

Analyst Firm: Piper Sandler
Upgraded: Neutral to Overweight
Price Target: $8.50
Friday's Close: $6.88

Piper Sandler upgraded Kearny Financial to Overweight from Neutral, setting a price target of $8.50.

The stock price target for Kearny Financial Corp. ranges from a low of $8.25 to a high of $9.00, with a median and average estimate of $8.63. Kearny Financial operates as the holding company for Kearny Bank, providing a range of banking products and services across the United States.

3. Prologis, Inc. (PLD)

Analyst Firm: Baird
Upgraded: Neutral to Outperform
Price Target: $123
Friday's Close: $105.63

Baird increased its rating for Prologis to Outperform from Neutral, with a revised price target of $123.

Analysts have projected the stock price for Prologis, Inc. to reach a high of $154.00, with a median estimate of $132.00 and a low of $104.00. The average target price stands at $130.38. Prologis is a global leader in logistics real estate, focusing on high-barrier, high-growth markets.

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.