Key US stock index futures are mostly lower on Wednesday, while traders await the results of the US Senate elections and the announcement of the official results of the presidential elections in the country, trading data showed.
Future for the Dow Jones Industrial Average (DJIA) grew by 0.13% – to 30325 points, on the NASDAQ high-tech index – decreased by 2.19%, to 12,513.88 points, on the broad market S&P 500 index – by 0.51%, to 3699.38 points.
Investors are closely following the US Senate elections. According to NBC News, Democrat Rafael Warnock wins the second round of Senate elections in the US state of Georgia. Democrats need to win both Senate seats from Georgia in order to gain control of the US Senate after the House of Representatives and strengthen the capacity of the future Joe Biden administration to conduct domestic politics.
At the same time, analysts believe that the victory of the Democrats in the Senate elections could have a positive effect on the market. The “Blue Wave” (Senate Democratic advantage – ed.) Could be a good outcome for the markets as strong stimulus measures will help accelerate the economic recovery, “said Vasu Menon, senior investment strategist at OCBC Bank Wealth Management, whose opinion also leads the agency.
Today Top Movers
Aurora Cannabis Inc (ACB), a Drug Manufacturer company, soared about 17.94% at $11.44 in pre-market trading Wednesday.
Sundial Growers Inc (SNDL) share price jumped 23.56% to $0.67 during early morning trading session on Wednesday.
9 Meters Biopharma Inc (NMTR) stock increased 25.23% at $1.34 in the pre-market trading today.
IsoRay Inc (ISR) gained over 254.38% at $1.88 in pre-market trading on Wednesday after receiving clearance from U.S. Food and Drug Administration (FDA) for the use of C4 Imaging’s Sirius positive-signal MRI (Magnetic Resonance Imaging) Markers with Isoray’s Cesium-131, brachytherapy seeds.
Top Upgrades & Downgrades
KeyBanc turned bullish on Cirrus Logic Inc. (CRUS), upgrading the stock to “Overweight” and assigning a $100.0 price target, representing potential upside of 15.79% from Tuesday’s close.
MetLife Inc. (MET) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $52.0, suggesting 11.47% additional upside for the stock.
J.B. Hunt Transport Services Inc. (JBHT) received an upgrade from analysts at Citigroup. They changed their rating on JBHT to Buy from Neutral in a recently issued research note.
Earlier Wednesday RBC Capital reduced its rating on Perrigo Company plc (PRGO) stock to Sector Perform from Outperform and assigned the price target to $49.
Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for American Electric Power Company, Inc. (AEP) has been changed to Equal-Weight from Overweight and the new price target is set at $88.
Analysts at B. Riley Securities downgraded Kratos Defense & Security Solutions Inc. (KTOS)’s stock to Neutral from Buy Wednesday.
Latest Insider Activity
fuboTV Inc. (FUBO) 10% Owner COMCAST CORP announced the sale of shares taking place on Dec 31 at $30.06 for some 500,000 shares. The total came to more than $15.03 million.
Intercept Pharmaceuticals Inc. (ICPT) CFO and Treasurer Kapadia Sandip sold on Jan 05 a total 23,764 shares at $24.47 on average. The insider’s sale generated proceeds of almost $53663.
Gritstone Oncology Inc. (GRTS) Director Woiwode Thomas declared the purchase of shares taking place on Dec 30 at $3.71 for some 1,347,709 shares. The transaction amount was around $5.0 million.
Tonix Pharmaceuticals Holding Corp. (TNXP) Chief Executive Officer LEDERMAN SETH bought on Dec 30 a total 118,267 shares at $0.68 on average. The purchase cost the insider an estimated $23,800.
Top US earnings releases scheduled for today include The Simply Good Foods Company (NASDAQ:SMPL). It will announce its Nov 2020 financial results. The company is expected to report earnings of $0.21 per share from revenues of $209.72M in the three-month period.
Analysts expect The Greenbrier Companies Inc. (NYSE:GBX) to report a net income (adjusted) of -$0.07 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Nov 2020 is predicted to come in at $481.03M.
Resources Connection Inc. (RGP), due to announce earnings after the market closes today, is expected to report earnings of $0.19 per share from revenues of $153.32M recently concluded three-month period.