| | Hey traders! It's Michael here with the Stock Dork Cheat Sheet: Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Today is Tuesday, November 7th. I hope you have a great day. Now, let's get ready to trade! |
Stocks opened the week with a mixed performance on Monday. Large-cap indexes advanced, with the Dow and S&P 500 gaining 0.1%, while the Nasdaq added 0.3%. The small-cap Russell 2K sold off for a 1.2% loss. Today, S&P 500 futures are down 0.2% in early trading, which could indicate we're heading for a lower open after several days of gains. Trillion Dollar Honey-Hole "Hiding in Plain Sight" "Honey-Hole" is slang for a location that yields a valued commodity or resource. And AI is that commodity. Statista currently value's the AI sector at $100 billion, and expects that number to explode by twenty-fold by 2030, placing its potential value at $2 trillion in under seven years. But which AI company is the best investment? We compiled a list of our Top 5 AI Stocks. >>> Click Here for Details 📉 Oil Prices Hit the SkidsGear up, road trippers and market-watchers! Oil's taking a bit of a tumble, sliding to prices we've not seen since the leaves started changing colors. It's a hint that our global thirst for energy might be hitting a bit of a... yawn. Dipping Down 📉 Brent Crude's dance number is a couple of steps back, dipping nearly 2% to a humble $84 a barrel. Meanwhile, West Texas Intermediate is strutting below $80, feeling all August-like. War & Prices? Not This Time 💥 Remember those price hikes when tensions flared in the Middle East? Well, they've vanished like a mirage. Pump prices are taking a breather, too, with a gallon of regular now lounging at $3.40, down from $3.72 just a month ago. So go ahead, fill 'er up! What's Behind the Wheel? 🚗 A pumped-up dollar and interest rates reaching for the sky are putting the brakes on oil demand, with emerging markets and Japan easing off the gas pedal. Despite the Middle East conflict headlines, the oil flow's as smooth as your favorite playlist on a long drive. So buckle up, energy enthusiasts. We might be in for a more budget-friendly cruise as oil prices hit the skids. |
Intl. Flavors & Fragrances [IFF] - Last Close: $72.34 Earnings are boosting shares of IFF. The industrial conglomerate reported its Q3 results after yesterday's close, and investors liked what they saw. IFF reported EPS of $0.89 against the consensus of $0.75. However, it was a drastic drop-off from last year's Q3 bottom-line EPS figure of $1.36. Sales also fell to $2.82 billion from $3.06 billion a year ago, but still managed to top the consensus of $2.76 billion. IFF also affirmed full-year 2023 sales guidance that was in-line with analysts' estimates. IFF is leading the S&P 500 in early trading with a 3.0% gain. My Take: Seeing lots of YoY sales declines this earnings season, but IFF appears to be managing the downturn well. It's a sign of a well managed company. TransMedics [TMDX] - Last Close: $40.19 TransMedics is getting a boost from a big earnings beat. The company released its Q3 earnings results late Monday and exceeded Wall Street's expectations. TransMedica reported a wider-than-expected loss of ($0.78) per share and fell short of analysts' estimate of a ($0.19). However, things brightened up from there. Revenues more than double from last year to $66.4 million and easily beat the $49.2 million consensus. TransMedics also hiked its full-year revenue guidance in light of the strong quarter. Shares of TMDX are up 44.3% in early trading. My Take: TMDX began to rebound last week after a long sell-off. Trading volume also spiked, and now it's getting another boost from this earnings report. This could be the early phases of a pivot. Carbon Revolution [CREV] - Last Close: $87.37 Carbon Revolution is skyrocketing after a SPAC merger. The OEM supplier of advanced carbon fiber wheels completed its business combination with Twin Ridge SPAC last Friday, and it's been soaring ever since. On Friday, the stock officially began trading on the NASDAQ-NMS under the symbol CREV, dropping its former ticker symbol of TRCA. Yesterday, it got another big boost when it announced the receipt of a $70 million equity investment from Orion Infrastructure Capital. Shares soared 197.9% on Monday following the news, and they're still running hot in the premarket. CREV is up 44.4% in early trading. My Take: Not sure what's going on here. It's been very volatile and somehow I don't think a tire-maker is worth all the hype. I see a sudden pullback somewhere down the line for this stock. Senti Bio [SNTI] - Last Close: $0.2920 Senti Bio is rallying after an announcement After Monday's close, the tiny biotech unveiled a new strategic collaboration with Celest Therapeutics for the clinical development of Senti-301 in China. Under the terms of the deal, Senti is eligible to receive up to $156 million in milestone and royalty payments. Celest will lead clinical development, operations, and manufacturing for the advancement of SENTI-301A with technical support from Senti Bio. Senti Bio will retain all commercialization rights outside of mainland China, Hong Kong, Macau, and Taiwan for SENTI-301A. SNTI is up 133.3% on active trading volume in response to the deal. My Take: This could be a big deal for SNTI if the royalty payments get triggered, but it could take quite a while for the catalyst to materialize. Gainers - Tharimmune [THAR] >> +80.6%
- Ault Alliance [AULT] >> +21.5%
- Olaplex [OLPX] >> +25.3%
Decliners - Ventxy Bio [VTYX] >> (76.5%)
- Alto Ingredients [ALTO] >> (47.3%)
- CalciMedica [CALC] >> (27.1%)
Uber Technologies [UBER] ... AM Air Products And Chemicals [APD] ... AM KKR [KKR] ... AM Emerson Electric Company [EMR] ... AM D.R. Horton [DHI] ... AM Fidelity National Information Services [FIS] ... AM Gilead Sciences [GILD] ... PM Occidental Petroleum Corporation [OXY] ... PM Devon Energy Corporation [DVN] ... PM Coupang [CPNG] ... PM - U.S. trade deficit [Sep] ... 8:30a
- Consumer credit [Sep] ... 3:00p
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