Social Media Company Skyrockets
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Good morning Wake-Up Watchlisters! While you’re sipping your vanilla bourbon cold brew you’ll see stock futures traded lower as investors await more corporate earnings. Geopolitical tensions in Taiwan are also playing a part in the volatile markets. Overall, August has started out lackluster compared to July.
Don’t be fooled by last month’s surge. In The War Room yesterday, we were discussing how July’s boom is showing all the signs of a ‘bear-market rally.’ So right now we’re positioning ourselves for what could be more uncertainty ahead. We’ve been through these choppy waters before – in fact earlier this year we recorded an average return of 115.8% at the height of the Russia/Ukraine conflict.
Here’s a look at the top-moving stocks this morning.
Pinterest (NYSE: PINS)
Pinterest is up 19.06% premarket after Elliott Management disclosed in a statement that it is the largest shareholder and thinks new CEO Bill Ready ‘is the the right leader to oversee Pinterest’s next phase of growth.’ The uptick came despite the company missing revenue expectations. Still, Senior Research Analyst Tom Forte told Yahoo Finance that Elliott’s involvement stood out due to a ‘challenging macroeconomic environment.’
Sage Therapeutics (Nasdaq: SAGE)
Sage Therapeutics is up 10.19% premarket after reporting business highlights. The company announced positive topline data from the Phase 3 SYLARK Study evaluating zuranolone for postpartum depression. The company also anticipates more cash and cash equivalents for ongoing collaborations, with revenue expected to support operations into 2025.
Speaking of companies poised to benefit in the long-term, right now we’re pounding the table on what we’re calling ‘The Last Great Value Stock.’ This company has a foothold in many sectors we like, and right now it’s trading for less than $2. You’ll want to make a move soon though – there’s an upcoming announcement on August 4th that could send it soaring.
Transocean Ltd. (NYSE: RIG)
Transocean LTD is up 10.25% premarket after the energy company announced a $321 million contract for ultra-deepwater drillship, Deepwater Conqueror, has been awarded a two-year contract by a major operator to work in the U.S. Gulf of Mexico at $440,000 per day. The new contract adds an estimated $321 million in backlog and is expected to begin in December 2022.
Despite Transocean’s premarket rise, there’s a potential diesel fuel shortage on the horizon we think you should know about. If this shortage happens soon – it could send our economy into a tailspin – and any energy stocks could be tied into it as well.
Uber Technologies (NYSE: UBER)
Uber is up 9.84% premarket after the ride-hailing company reported positive quarterly cash flow for the first time ever and also forecast third-quarter operating profits above estimates. Uber generated $382 million in the second quarter, topping analysts’ expectations of $263.2 million.
The way we get from A to B is undergoing tremendous change, and our friend Andy Snyder wants you to know about this electric vehicle stock. This start-up company has technology that could be used in all electric cars going forward, and right now you can invest in the company for under $25.
Those are the top market movers today.
The Wake-Up Watchlist Research Team