3 Pharma Stocks to Watch Out for Today

Good morning. It's December 10th, and today we’ll look at Ferguson and Oracle shares falling upon poor earnings reports, a $6.1B grant for Micron Technologies, and three pharma stocks that are on fire during premarket trade this morning.

Previous Close 📈

Stocks fell across the board on Monday as all three major indices pulled back from recent gains. The Dow Jones Industrial Average dropped 240.59 points, while the S&P 500 fell 0.61% and the Nasdaq Composite declined by 0.62%.

Futures

Stock futures are edging slightly higher this morning as markets have steadied following Monday’s declines. Dow futures have risen by 6 points (+0.01%), S&P 500 futures have gained 3.75 points (+0.06%), and Nasdaq-100 futures are up 20.75 points (+0.10%).

Billion Dollar Industry

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What to Watch

AutoZone (AZO), Ferguson Enterprises (FERG), Ollie’s Bargain Outlet Holdings (OLLI), and Academy Sports and Outdoors (ASO) will release their quarterly earnings today before the opening bell.

After the market closes, famed meme stock GameStop (GME) will also report its earnings.

On the economic front, the NFIB Optimism Index for November will be released at 6:00 a.m. ET, providing a gauge of small-business sentiment.

Additionally, the U.S. Productivity Revision for Q3 will be published at 8:30 a.m. ET, giving a refined view of labor efficiency in the economy.

Plumbing and Heating

Ferguson Shares Plunge 7% After Q1 Earnings Miss Expectations

Ferguson PLC shares are falling by 7.9% in premarket trading today due to its disappointing first-quarter earnings, which are below Wall Street estimates.

The plumbing and heating products distributor’s adjusted earnings per share of $2.45 missed the consensus estimate of $2.88. Its revenue for the quarter is $7.77 billion, which is again below the anticipated $8.07 billion even though it marks a 0.8% year-over-year increase. Sales volumes are up by 3%, offset by approximately 2% deflation.

CEO Kevin Murphy acknowledged the tough market conditions, stating, "Our associates remained focused on execution, delivering revenue growth in the quarter, despite continued market headwinds and commodity price deflation."

He emphasized confidence in the company's ability to outperform the market due to its balanced business mix.

Gross margins are slightly down by 30.1%, while operating margins are 8.6% (9.1% adjusted). Despite the challenges, Ferguson reaffirmed its fiscal 2025 guidance, projecting modest full-year revenue growth.

The company is offering its investors a quarterly dividend of $0.83 per share, representing a 5% increase year-over-year. Ferguson will also repurchase $256 million worth of its own stock.

Semiconductors

Biden Administration Grants Micron Technology $6.1B for US Semiconductor Projects

The U.S. Department of Commerce has finalized a $6.1 billion subsidy for Micron Technology to support the construction of semiconductor manufacturing facilities in New York and Idaho.

According to a White House statement released today, this investment, among the largest under the CHIPS and Science Act, aims to bolster domestic chip production and create at least 20,000 jobs by 2030.

Micron Technology’s shares are up by 2% in premarket trade.

The funding, first announced in April, underscores the Biden administration’s commitment to reducing reliance on foreign chipmakers, particularly those in China and Taiwan. The initiative also includes a preliminary agreement for an additional $275 million investment to expand Micron's Manassas, Virginia, facility, which produces chips critical for the defense, automotive, and industrial sectors.

This move aligns with the administration’s broader efforts to strengthen the U.S. semiconductor supply chain. Other recent subsidies include $7.86 billion awarded to Intel and $6.6 billion for Taiwan Semiconductor Manufacturing Co.'s U.S. operations.

The announcement comes weeks before President-elect Donald Trump, a critic of the CHIPS program, assumes office. Micron’s expanded footprint is expected to play a vital role in securing critical technologies for national security and economic resilience.

Technology

Oracle’s Growth Stumbles as Revenue Misses Wall Street Targets, Stock Plunges in Premarket Trade

Oracle Corporation’s shares are down by 5.8% in premarket trading today after the company reported second-quarter revenue that narrowly missed analyst expectations.

Despite a 9% year-over-year increase in revenue to $14.06 billion, the figure fell short of Wall Street’s $14.11 billion estimate, according to LSEG data.

The revenue miss comes as Oracle faces stiff competition in the cloud computing space, particularly from industry leaders Microsoft and Amazon. While Oracle has heavily invested in expanding its cloud infrastructure to meet the rising demand for artificial intelligence services, the market remains challenging.

Analysts note that high investor expectations for AI-driven growth have increased scrutiny on Oracle’s ability to convert demand into revenue acceleration.

Oracle’s shares, which have surged over 80% this year, are now poised to lose approximately $45 billion in market capitalization.

Despite the challenges, Oracle continues to see heightened demand for its cloud infrastructure, particularly for AI compute workloads, according to a note from D.A. Davidson.

Gold

This Junior Miner Company Is A Must Watch

As gold surges toward $3,000 an ounce, the real opportunities lie with the miners positioned to capitalize on the demand.

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Chimerix, Inc. [CMRX] - Last Close: $0.86

Chimerix, Inc.'s stock has more than doubled in premarket trade today.

The firm has had “extensive discussions” with the FDA regarding accelerated approval for its cancer drug Dordaviprone by the end of the year.

This drug is being developed to treat diffuse glioma, a challenging type of brain cancer, and has received a rare pediatric disease designation for a specific mutation, which underscores its potential to address critical unmet needs.

This designation allows Chimerix to apply for a priority review voucher, which can expedite the regulatory review process.

Pending approval, the company has also strengthened its commercial leadership team in preparation for a U.S. launch as early as next year.

Cumberland Pharmaceuticals, Inc. [CPIX] - Last Close: $1.24

Cumberland Pharmaceuticals' stock is up 99% in premarket trade after the FDA approved a supplemental new drug application for Acetadote, its intravenous treatment for preventing liver damage from acetaminophen overdose.

The approval simplifies the drug's dosing regimen, making it easier for hospitals to administer it effectively.

This streamlined dosing approach has already been adopted in hospitals internationally, where it has demonstrated reduced medication errors and fewer adverse reactions, all while maintaining the drug's effectiveness.

These improvements are expected to enhance patient safety and hospital efficiency, increasing the drug's appeal to healthcare providers.

uniQure N.V. [QURE] - Last Close: $7.30

uniQure's stock is surging by 90% in premarket trading due to FDA alignment on key components for the accelerated approval pathway for AMT-130, its experimental gene therapy for Huntington's disease.

This agreement allows uniQure to use data from ongoing Phase I/II studies, compared against historical controls, as the primary basis for their FDA submission.

The FDA also agreed to the use of key clinical and biological markers, such as the cUHDRS scale and neurofilament light chain reductions, to demonstrate therapeutic benefits.

This breakthrough simplifies the path to regulatory approval, avoiding the need for additional pre-submission studies.

Investors are optimistic about the therapy's potential impact and the accelerated timeline for bringing this innovative treatment to market.

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Everything Else

• Q3 sales rose 7% for Victoria’s Secret, driven by international growth and a strong holiday merchandise response.

• Taiwanese chipmaker TSMC sees 34% growth as AI and smartphone demand soar.

• ServiceTitan plans its Nasdaq debut, aiming to raise up to $589.6 million in the initial public offering.

• Small business confidence surged in November with the economic outlook improving.

• Scotland will benefit from SSEN's ambitious £22 billion clean energy investment plan.

• UnitedHealthcare’s CEO's murder suspect was identified as a former AI engineer with ties to Maryland politics.

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

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