A Surprise CEO Departure…

Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures rose on Tuesday. The boost came after Federal Reserve officials voiced hope for a pause in interest rate hikes. Plus, more economic stimulus from China helped investors get back into the game.

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

Unity Software Inc. (NYSE: U)

Unity Software is up 6.43% premarket after a surprise departure of its CEO John Riccitello following controversial price changes unveiled at the video game developer late last month. Unity had said it would limit fees for developers for 4% of a game’s revenues for those generating more than $1 million in sales, and suggested the new structure would apply retroactively. However, the group also confirmed its third quarter earnings guidance, which calls for adjusted profits in the region of $95 million on revenues of around $545 million, suggesting management has arrested, for the time being, the impact of its pricing chances.

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Hyatt Hotels (NYSE: H)

Hyatt Hotels is up 5.94% premarket after announcing its set to join S&P Midcap 400 prior to the opening of trading on Thursday. S&P Dow Jones Indices is the largest global resource for essential index-based concepts. The change will become effective on Oct. 12, 2023.

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PepsiCo, Inc. (Nasdaq: PEP)

PepsiCO is up 0.73% premarket after another round of price increases allowed the drinks and snacks giant to lift its full year profit forecast for a third straight quarter. PepsiCo said earnings for the three months in September came in at $2.25 per share, up 14.2% from the same period last year and well ahead of Wall Street consensus of $2.15 a share.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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