Furniture Company Spikes After Layoffs

By George Banko

January 23, 2023

Good morning Wake-Up Watchlisters! It’s Monday and our Lead Technical Tactician Nate Bear is hear to guide you through the upcoming trading week. Today he’s giving traders 4 names they should be looking at as part of his “Weekly Watchlist.”

Click the image below to see what those companies are.

While you’re sipping coffee you’ll see stock futures were mixed on Monday. Investors are preparing for another week of corporate earnings. They’re also paying attention to the Federal Reserve’s next rate move ahead of the central bank’s meeting later this month.

If you want to see how we’re looking to play the Federal Reserve’s upcoming announcement, we invite you to join The War Room. We have a 90% win rate in the month of January and right now we’re guaranteeing members receive 252 winning trades in their first 12 months.

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

Wayfair Inc. (NYSE: W)

Wayfair is up 9.51% premarket after the online furniture specialist joined other tech companies announcing layoffs. Wayfair said that it would look to cut 1,750 employees, working out to about 10% of its global workforce coming into 2023. The retailer said it anticipates saving $1.4 billion every year from implementing its plan to improve business efficiency.

Layoffs have hit major tech companies hard as of late, but that’s just the start of it. Our friend Andy Snyder believes there’s a $13 trillion tech revolution on the horizon, and there’s one stock could hand you life-changing profits. He’s even gone on to say this technology is the “biggest leap since the rise of the internet.”

Click here to discover this emerging tech company.

Xylem Inc. (NYSE: XYL)

Xylem is down 9.69% premarket after the leading global water technology company announced a definitive agreement with water treatment company Evoqua (AQUA). Xylem will acquire Evoqua in an all-stock transaction that reflects an implied value of approximately $7.5 billion.