Pre-Market U.S. Stock Movers
JD.com (NASDAQ:JD) gained over +4% in pre-market trading after the retailer reported better-than-expected Q3 results.
Solid Biosciences (NASDAQ:SLDB) surged about +27% in pre-market trading after announcing that the FDA cleared the company’s IND for Duchenne gene therapy candidate SGT-003.
Edgio (NASDAQ:EGIO) soared over +20% in pre-market trading following the announcement that existing investor Lynrock Lake Master Fund had provided the company with $66M of new financing.
Arcturus Therapeutics Holdings (NASDAQ:ARCT) climbed more than +19% in pre-market trading after the company reported upbeat Q3 results.
PolishedCom (AMEX:POL) slid over -9% in pre-market trading after postponing the reporting of its Q3 results.
Wix.Com (NASDAQ:WIX) rose more than +2% in pre-market trading after Barclays upgraded the stock to Overweight from Equal Weight.
Keep An Eye Out
Today, all eyes are focused on the U.S. Producer Price Index (PPI) in a couple of hours. Economists, on average, forecast that October U.S. PPI will stand at +0.1% m/m and +1.9% y/y, compared to the previous values of +0.5% m/m and +2.2% y/y.
Also, investors will likely focus on U.S. Core Retail Sales data, which came in at +0.6% m/m in September. Economists foresee the new figure to be -0.2% m/m.
U.S. Core PPI data will come in today. Economists expect October’s figures to be +0.3% m/m and +2.7% y/y, compared to the previous numbers of +0.3% m/m and +2.7% y/y.
U.S. NY Empire State Manufacturing Index will be reported today. Economists foresee this figure to stand at -2.80 in November, compared to the previous figure of -4.60.
U.S. Retail Sales data will also be closely watched today. Economists forecast October’s figure to be -0.3% m/m, compared to the previous value of +0.7% m/m.
U.S. Crude Oil Inventories data will be reported today as well. Economists estimate this figure to be +1.793M, compared to the previous number of +0.774M.
In the bond markets, United States 10-year rates are at 4.467%, up +0.56%.
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ANALYST RECOMMENDATIONS
Aflac Incorporated: Morgan Stanley maintains its market weight recommendation and raises the target price from $75 to $80.
Altria Group: Jefferies maintains its buy recommendation and reduces the target price from $56 to $50.
Ameriprise Financial: Morgan Stanley maintains its market weight recommendation and raises the target price from $360 to $365.
Biomarin Pharmaceutical: Wells Fargo initiates an overweight recommendation with a target price of $100.
Celanese Corporation: Jefferies maintains its hold recommendation and raises the target price from $125 to $135.
Datadog: CICC initiates an Outperform recommendation with a target price of $116.
Devon Energy Corporation: RBC Capital maintains its sector perform recommendation and reduces the target price from $60 to $55.
Eog Resources: Mizuho Securities maintains its buy recommendation and reduces the target price from $158 to $150.
Equifax: Jefferies maintains its hold recommendation with a price target raised from $180 to $200.
Fair Isaac Corporation: Jefferies maintains its buy recommendation and raises the target price from $1035 to $1210.
Kraft Heinz: Bernstein upgrades to outperform from market perform with a target price of $40.
The Home Depot: Guggenheim maintains its buy recommendation and reduces the target price from $360 to $340.
The Jm Smucker Company: Bernstein downgrades to market perform from underperform with a price target reduced from $123 to $119.
Vertex Pharmaceuticals Incorporated: Daiwa Securities maintains its buy recommendation and raises the target price from $410 to $430.
Warner Music Group: Wells Fargo initiates an Equalweight recommendation with a target price of $35.
Today’s U.S. Earnings Spotlight: Wednesday – November 15th
Cisco (CSCO), TJX (TJX), Palo Alto Networks (PANW), NetEase (NTES), Target (TGT), Alcon (ALC), Xpeng (XPEV), Huazhu (HTHT), Tetra Tech (TTEK), Catalent Inc (CTLT), GlobalE Online (GLBE), Maximus (MMS), Copa (CPA), Advance Auto Parts (AAP), Endava (DAVA), J & J Snack Foods (JJSF), Hillenbrand (HI), Grupo Aval (AVAL), Kulicke&Soffa (KLIC), Griffon (GFF), INTL FCStone (SNEX), Corporacion America Airports (CAAP), Sonos (SONO), Chase (CCF), ZIM Integrated Shipping Services (ZIM), RMR Group Inc (RMR), Riskified (RSKD).
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