Adobe [ADBE] - Last Close: $528.87
Adobe is powering higher after a bullish analyst note.
This morning, Morgan Stanley analyst Keith Weiss upgraded his rating on the stock from "Equal-Weight" to "overweight."
Weiss also lifted his price target on ADBE from $510 to $660, marking a 29% increase.
ADBE is one of this morning's top S&P 500 stocks with a 2.6% gain.
My Take: ABDE is an absolute stud of a stock. It has a pricey valuation, but i'ts not absurd. Plus, the company is investing heavily in AI, which could help it sustain its growth trajectory for years to come. Bullish.
Allarity Therapeutics [ALLR] - Last Close: $2.63
Allarity is climbing after a premarket announcement.
The pharma firm unveiled a new Clinical Cooperation Agreement with FivepHusion early this morning.
Under the terms of the partnership, Allarity will support FivepHusion's development of Deflexifol(TM) for the treatment of solid tumors.
In return, FivepHusion will have access to Allarity's companion diagnostics to select patients for enrollment in clinical trials.
AALR is breaking out to a 27.3% gain on elevated trading volume in today's premarket.
My Take: ALLR has an absurdly tiny float, so this could be a bull trap. Don't get caught holding the bag here.
China Natural Resources [CHNR] - Last Close: $1.96
China Natural Resources is getting a boost from a recent announcement.
On Friday, the China-based mining company announced a deal to sell its Precise Space-Time Technology to Feishang Group in a US$13.2 million deal.
The companies noted that the purchase price could be subject to positive post-closing adjustments depending on any differences in base net assets.
CHNR is riding a 49.4% gain in early trading, and it's one of this morning's top performers.
My Take: CHNR is a small company, so this cash injection could be a big deal for them. However, this stock has struggled over the past five months, and I'm not sure if this is catalyst will be enough to get it back on the right track.
Barnes & Noble Education [BNED] - Last Close: $1.25
Barnes & Noble Education's latest announcement is giving it a boost.
On Friday, the textbook company announced a new agreement with its financial backers and partners to strengthen its financial position.
The deal will extend the maturity of B&N Education's debt facilities, amend certain credit facilities, and modify other agreements.
The company says it is "well-positioned" to capitalize on the upcoming Fall Sales Rush thanks to the deal.
Shares of BNED are up 17.6% in today's premarket.
My Take: BNED may be bottoming out after a rough few months. The WSJ also published an article about Barnes & Noble bookstores recently, which may have given this stock some extra exposure.
