Mixed Results in Renewable Energy Sector
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Correction: Due to a miscalculation in our portfolio tracker, we incorrectly stated Paypal’s gain in yesterday’s ‘Wake-Up Watchlist.’ The correct number is 45%. Still a significant gain for The War Room.
Good morning Wake-Up Watchlisters! While you’re sipping your blistering, burning, red hot coffee (yeah I have a thesaurus) you’ll see that stock futures rose Thursday. Investors are shaking off growth warnings from the bond market. Oil is also on the rebound after hitting its lowest level in six months.
While recession worries are receding, we’re still in a bear market overall in 2022. That’s why we’re pounding the table on value stocks this year. These are the companies that will still be around when all the smoke clears. Right now we’re telling our readers about this ‘Last Great Value Stock.’ It’s currently trading for under $2 – so you can get in without breaking the bank.
Here’s a look at the top-moving stocks this morning.
Lucid Group, Inc. (Nasdaq: LCID)
Lucid is down 11.82% premarket after the electric vehicle maker’s second quarter report. The company cut its production outlook for 2022 for the second time this year, now forecasting it will make 6,000-7,000 cars instead of 12,000-14,000. Revenue came in at $97.3 million, less than the $147.05 million Wall Street expected.
SunRun (Nasdaq: RUN)
SunRun is up 9.63% premarket despite a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a $0.20 loss. The solar company posted revenue of $584.58 million, surpassing the Zacks Consensus Estimate by 20.52%. It has also topped revenue estimates for each of the last four quarters.
Skillz Inc. (NYSE: SKLZ)
Skillz is down 11.05% premarket after the mobile games platform’s latest earnings report. Revenue declined by 22% from $93 million in the first quarter to $73 million in the second quarter. However, the company did reduce its net loss by 59% quarter-over-quarter, so there could be long-term growth in the near future.
Altrice USA, Inc. (NYSE: ATUS)
Altrice USA is up 9.10% premarket after the cable television provider came out with earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.33 per share. This was good for earnings surprise of 6.06%. A quarter ago, it was expected that this company would post earnings of $0.30 per share. However, it actually posted earnings of $0.43 per share, which was a 43.33% earnings surprise.
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Those are the top market movers today.
The Wake-Up Watchlist Research Team