US PREMARKET STOCKS: October 20, 2025
US PREMARKET STOCKS: October 20, 2025
**Futures Indices**
Dow Futures: +0.3%
S&P 500 Futures: +0.4%
Nasdaq 100 Futures: +0.6%
US 10-year yield: pending
**Market Environment**
US markets are opening higher this Monday, driven by anticipation of a crucial week marked by major large-cap earnings releases and the September consumer inflation data, expected Friday.
Attention remains focused on regional banks after the stress seen late last week, in a volatile climate made more uncertain by the 17th day of the US government shutdown.
"This week, we will finally get the September CPI inflation figures, which have been delayed so far. Deutsche Bank economists expect a monthly increase of +0.42%, which would push annual inflation to +3.1%, its highest monthly level since January," explains Henry Allen (Deutsche Bank).
Additionally, earnings season gains momentum: Netflix, Tesla, Intel, Coca-Cola, AT&T, IBM, and Procter & Gamble will report in the coming days, potentially having a major impact on index dynamics.
**Stocks to Watch**
**Rani Therapeutics (RANI) +29%**
The stock surges after a strategic agreement with Chugai Pharmaceutical to develop an oral version of an antibody for a rare disease. The deal includes an initial $10M payment, up to $175M in milestones, and over $1B potential if options are exercised.
**GRAIL (GRAL) +16.04%**
The biotech group rises after announcing a $325M fundraising, strengthening its development and research capabilities.
**Plug Power (PLUG) +9%**
Technical rebound after TD Cowen raised its price target to $4.50 (from $3.00) while maintaining its "Buy" recommendation. Analysts see strong potential in electrolyzers and hydrogen logistics.
**Jiuzi Holdings (JZXN) +6.40%**
The company jumps after announcing a strategic partnership with BitFi, focused on bitcoin-centered finance.
**Olema Oncology (OLMA) -18%**
Despite positive data for its breast cancer treatment, market expectations were not met, particularly in the post-CDK4/6 cohort, pushing the stock down.
**Exelixis (EXEL) -9%**
The market punishes mixed results from the STELLAR-303 trial in colorectal cancer: moderate efficacy, partial results, and concerning side effects.
**Rating Changes**
Upgrades
Darden Restaurants ($DRI) → Goldman Sachs upgrades to Buy with a $225 target
Digital Realty Trust ($DLR) → Wolfe Research upgrades to Outperform, target $194
Schlumberger ($SLB) → Piper Sandler upgrades to Overweight, target raised from $41 to $42
Sempra ($SRE) → Barclays upgrades to Overweight, target raised from $80 to $101
Neutral
Electronic Arts ($EA) → Morgan Stanley maintains Equalweight, target raised from $148 to $210
Incyte ($INCY) → BMO maintains Underperform, target raised from $60 to $75
MongoDB ($MDB) → Arete Research maintains Buy, target raised from $300 to $395
Choice Hotels ($CHH) → JP Morgan maintains Underweight, target lowered from $124 to $99
Downgrades
Qorvo ($QRVO) → Mizuho downgrades to Underperform, target lowered from $87 to $75
Skyworks Solutions ($SWKS) → Mizuho downgrades to Underperform, target reduced from $70 to $60
Rexford Industrial Realty ($REXR) → Wolfe Research downgrades to Peer Perform
Have a good session everyone
Sylvain Mouilhaud: Stock Coach