Retailer Surges After Raising Outlook

Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures dropped on Thursday. Optimism around inflation is waning after investors sorted through corporate earnings. October retail data was strong, which could offset hopes for a central bank policy shift. Plus, a recent earnings report from major retailer Target (TGT) forecasted a poor economy during the key holiday shopping season.

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Here’s a look at the top-moving stocks this morning.

Elevate Credit, Inc. (NYSE: ELVT)

Elevate Credit is up 66.04% premarket after the online credit provider announced it has entered a definitive agreement to be acquired by Park Cities Asset Management LLC, an alternative asset manager focused on providing flexible debt solutions. Park Cities will acquire Elevate for $1.87 per share in an all-cash transaction at an implied value of $67 million.

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Cuentas Inc. (Nasdaq: CUEN)

Cuentas is up 12% premarket after authorizing a share repurchase program. The leading fintech provider for mobile payment solutions authorized the stock buyback due to favorable company conditions, including no outstanding debt and ‘historically low market valuation,’ according to CEO Arik Maimon.

Bath & Body Works (Nasdaq: BBWI)

Bath & Body Works is up 21.28% premarket after the company raised its full-year outlook. The retail company sees its full-year earnings from continuing operations per diluted share between $3.00 and $3.20, compared to its prior guidance forecast of $2.70 to $3.00.

Vaccitech (Nasdaq: VACC)

Vaccitech is down 9.96% premarket after revenue lagged in its latest earnings report. Earnings per share beat expectations, coming in at $0.22 (up from $0.13 loss last year). Overall, revenue missed analyst estimates by 23% while earnings per share exceeded analyst estimates.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team