Oil Company Brings Big Premarket Energy
Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures faltered on Tuesday. Investors are preparing for crucial earnings reports from major tech firms. Also, the latest business activity in Europe proved disappointing, with the region’s Stoxx 600 index falling into the red.
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Here’s a look at the top-moving stocks this morning.
HighPeak Energy, Inc. (Nasdaq: HPK)
HighPeak Energy is up 15.23% premarket after announcing that its board of directors has voted to initiate a process to maximize shareholder value. This includes a potential sale of the company. HighPeak CEO Jack Hightower said in a statement that now is an opportune time to capture the value reflected in the company’s share price. Wells Fargo and Credit Suisse Securities have been retained as financial advisors for the potential transition.
The current energy crisis in Europe is changing the landscape of energy stocks. Right now our friend Alexander Green is pounding the table on one stock Wall Street projects will rise from $30 to $280 over the next 18 months.
Click here to see why Russia President Vladimir Putin’s latest mistake could make traders rich.
3M Company (NYSE: MMM)
3M is down 3.12% premarket after the manufacturing giant missed earnings expectations. On an adjusted basis, 3M earned $2.28 a share, down from $2.45 a share the year before. The company also plans to cut 2,500 jobs, a move Chief Executive Mike Roman called “a necessary decision to align with adjusted production volumes.”
Lyft, Inc. (Nasdaq: LYFT)
Lyft Is up 3.18% premarket after analysts at KeyBanc bumped the stock to Overweight from Sector Weight. The rideshare company’s data improved over December. It also cut costs, which could provide an opportunity to improve its earnings over the course of this year.
Sector to watch: Electric Vehicles
Several electric vehicle stocks were up in premarket. These included Nio, Li Auto and Xpeng. This premarket boost came on continued optimism as China reopens and automakers cut prices. Tesla also reports earnings on Wednesday, and its recent price cuts could have a drastic impact on the market.
When it comes to Electric Vehicle stocks, there’s one company our friend Andy Snyder wants you to know about. The Wall Street Journal says this company “could be the next Tesla.” It’s faster than super cars like Ferrari’s F8 – yet it’s 100% electric. Better yet, it plans to ship out 1 million of these cars per year.
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Those are the biggest stock movers for today.
The Wake-Up Watchlist Research Team