Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures slumped on Friday. Investors are awaiting the latest inflation measure for further guidance on the trajectory of interest rates. The Personal Consumption Expenditures (PCE) price index is what investors will be looking at – in addition to the Fed’s preferred assessment of how quickly prices are rising across the economy.

When prices are down, it’s crucial to consider value stocks that actually have a chance at going up. Which is why we have some awesome news. One of our favorite stock recommendations for all of 2023 just spiked 22% overnight! But despite this latest big move, it’s still trading at less than $2!

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

Beyond Meat (Nasdaq: BYND)

Beyond Meat is up 13.77% premarket despite revenue coming in at a 26% decrease year-over-year in its latest earnings report. The reason for the boost to its stock price was that the plant-based food maker’s loss was narrower-than-expected and it also issued strong guidance for the fiscal year.

Earnings reports can sometimes be a major trigger for a stock’s direction. Another major trigger involves “following the money” or “insider buying.” Our Head Fundamental Tactician Karim Rahemtulla tracks insider buying (the legal kind). And his Insider Matrix portfolio delivered a return of 14% in 2022.

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Nektar Therapeutics (Nasdaq: NKTR)

Nektar Therapeutics is down 37.50% premarket after it was announced its latest study involving lupus treatment will not go forward. The biopharma company reported that a study did not meet goals and that partner Eli Lilly & Co. (LLY) decided to not proceed with a phase-3 development of the investigational treatment, called REZPEG for short.

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Block, Inc. (NYSE: SQ)

Block, Inc. is up 7.35% premarket after posting mixed results in its latest earnings. The 22 cents per share missed by 5 cents from expectations and the company’s year-ago quarter. Revenues, on the other hand, came in at $4.65 billion – ahead of the $4.53 billion projected. Overall, shares are down -5% for the year.

Guardant Health (Nasdaq: GH)

Guardant Health is up 7.46% premarket despite posting a quarterly loss of $1.36 per share versus the Zacks Consensus Estimate of a loss of $1.40. The quarterly report represents an earnings surprise of 2.86%. Revenue came in at $126.89 million, beating the Zacks Consensus Estimate by 1.17%.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team