Data has that Dog in Them

By George Banko

November 7, 2023

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Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures fell on Tuesday. Yesterday there was optimism surrounding the Federal Reserve’s plan to ease its rate tightening campaign, but Minneapolis Fed President Neel Kashkari put a dent in that notion. Kashkari mentioned the central bank likely has more work ahead of it to control inflation, citing a resilient economy as the main reason.

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

Vertex (Nasdaq: VRTX)

Vertex is down 2.26% premarket after missing estimates for third quarter sales. The pharmaceutical company was hurt by weaker-than-expected demand for its older cystic fibrosis treatments. The drugmaker recorded a 35.4% fall in sales of its older CF treatments to $209.2 million.

Yesterday, our Head Trading Tactician Bryan Bottarelli got positioned on Vertex Pharmaceuticals in Trade of the Day Plus.

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Datadog, Inc. (Nasdaq: DDOG)

Datadog is up 24.49% premarket after reporting strong third quarter numbers. Its revenue grew 25% year-over-year to $548 million. The growth largely came from a larger customer base, with about $3,130 ARR customers, which was higher than 2,600 from a year ago.

Tripadvisor (Nasdaq: TRIP)

Tripadvisor is up 10.49% premarket after the company reported a third quarter earnings per share of $0.52 versus $0.47 expected, while revenues were reported at $533 million versus $505.04 million expected. Tripadvisor also experienced a 10% year-over-year increase in adjusted earnings before interest, taxes, depreciation and amortization.