Ad Company Pops After Yahoo Deal

Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures slid on Monday. Unrest in China over prolonged COVID restrictions weighed on markets over the holiday weekend. Also, investors are waiting a key barrage of economic data in the U.S., including the November jobs report, housing data, and a second look at third-quarter GDP and inflation.

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

Taboola.com Ltd. (Nasdaq: TBLA)

Taboola is up 32.06% premarket after the web recommendation company announced it’s entering a 30-year commercial agreement with Yahoo. Taboola will have exclusive rights to power native advertising across all of Yahoo’s digital properties. Taboola will also benefit from Yahoo’s scale as a leading consumer tech company reaching nearly 900 million monthly active users.

Univar Solutions (NYSE: UNVR)

Univar Solutions is up 11.42% premarket after the company confirms a preliminary indication of interest from Breentag SE regarding a potential transaction. Univar’s shares have surged 20.6% over the past three months, with market share gains and cost minimization among the primary drivers.

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Wynn Resorts (Nasdaq: WYNN)

Wynn Resorts is up 5.45% premarket after Macau tentatively renewed its casino license. This renewal lifts a key risk that has long loomed over the sector. It also starts a rally in Hong Kong even as the Hang Seng index falls amid concerns over protest in China. The stock is now at a near eight-month high.

Biogen (Nasdaq: BIIB)

Biogen is down 4.60% premarket as the company’s latest drug for Alzheimer’s faces more obstacles. Shares of Biogen are up 50% since September after its drug lecanemab showed it slowed the cognitive decline of Alzheimer’s disease patients. However, the company still only shared a press release of the trial, not the complete results. That will change on Tuesday when Eisai (the company collaborating with Biogen on the drug) will present its work at a scientific gathering called the Clinical Trials on Alzheimer’s Disease conference.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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