Ouch Cloudfare…
Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures dipped on Friday. The drop came after retail giant Amazon slipped 1.1% in premarket trading and social media companies also came in with downbeat forecasts (more on that below). The Federal Reserve is also expected to raise interest rates by 25 basis points at its May 2-3 meeting, which could potentially be the last hike in the U.S. central bank’s fastest monetary policy tightening cycle since the 1980’s.
With the Federal Reserve likely to stop raising interest rates, it could mean a key opportunity could be going away. Right now the current market climate is giving traders an opportunity for potentially earning capital gains as well as income. Our Head Fundamental Tactician Karim Rahemtulla is aware of this and recently created his “Super Income System,” and he believes he’ll make $1 million with his investment within five years.
Click here to learn more about how you could earn income in 2023.
Here’s a look at the top-moving stocks this morning.
Cloudfare, Inc. (NYSE: NET)
Cloudfare is down 24.99% premarket after its earnings topped estimates but its June-quarter and full-year 2023 revenue outlook fell short. For the current June quarter, Cloudfare projected revenue of $305.5 million at the midpoint of its outlook. Analysts projected revenue of $319.8 million. Heading into the Cloudfare earnings report, the stock had climbed 33% in 2023.
With new technologies like artificial intelligence becoming more apart of our every day lives, it’s crucial to be aware of the companies at the forefront of these new technologies. Our friend Andy Snyder is telling readers about a company that’s expected to be worth $13 trillion by 2030, transforming industries like health, retail and real estate. Gary Vaynerchuk believes this company is “an incredible opportunity for all of us.”
Click here to learn more about XRI.
Snap, Inc. (NYSE: SNAP)
Snap is down 19.52% premarket after its parent company reported first quarter revenue of $988.6 million, coming in short of Wall Street’s $1.01 billion expectations. The social media company reported daily active users of 383 million for the quarter, versus estimates of 383.2 million.
Pinterest (NYSE: PINS)
Pinterest is down 13.86% premarket after the social media company announced an advertising partnership with e-commerce giants Amazon. Average revenue per user came in at $1.32, a penny shy of the $1.33 expected by Wall Street analysts. Pinterest also said it expects second quarter operating expenses to grow in the low teens on a percentage basis, quarter over quarter.
Intel Corporation (Nasdaq: INTC)
Intel Corporation is up 5.22% premarket after barely beating analysts’ expectations on revenue. Right now the company is seeing a decline in PC and datacenter sales, as consumers and businesses pull back on spending. PC revenue was down a massive 38% in the quarter.
Despite the slow sales numbers for Intel, its CEO Pat Gelsinger is looking to turn the company around by building new fabrication facilities in the U.S., including a massive $20 billion chip plant in Ohio. Intel also announced a mult-generation collaboration with chip designer Arm.
Do you know how to identify the perfect stock?
Many think finding the perfect stock involves finding a leader in cutting-edge technolgogy that changes the way we live. And that’s true. But the most important factor of a life-changing stock is it has to be undiscovered. Our friend Alexander Green has a track record for identifying life-changing companies before anyone else.
Those are the biggest stock movers for today.
Happy trading!
The Wake-Up Watchlist Research Team
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