Another Spike for This Bank…
The stocks to watch this week: It’s Monday and our Lead Technical Tactician Nate Bear is giving you his weekly stocks to watch. Click the image below to see what he’s looking at. Nate posted stellar trading results for his Daily Profits Live members last week. Overall, he went 13-for-14 for a 92.86% win rate, including a 135% winner on Nvidia (NVDA) in three trading days.
Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see US stock futures were flat on Monday at the start of a data-packed week, including a crucial inflation reading to determine if the Federal Reserve is succeeding in curbing rising prices. After Apple’s optimistic earnings and positive jobs data signaled a sturdy labor market, US stock indices had a late-week surge on Friday, with the Dow Jones Industrial Average recording its highest one-day percentage increase since January 6.
Last week we took advantage of the latest Wall Street surge in The War Room. On Thursday, we took a 104.42% overnight winner on Paramount (Nasdaq: PARA) and a 44.57% overnight winner on Qualcomm (Nasdaq: QCOM). Plus, we closed Carvana (NYSE: CVNA) for a 123.21% return (in two trading days) on Friday morning. Overall, we went a perfect 8-for-8 on our trades for a 100% win rate.
What are you waiting for? Click here to join The War Room and start trading along with us.
Here’s a look at the top-moving stocks this morning.
PacWest Bancorp (Nasdaq: PACW)
PacWest Bancorp was up 32.47% in premarket trading and pulled up several regional bank stocks after announcing a cut in its quarterly dividend from 25 cents to 1 cent to accelerate capital. PacWest cited economic uncertainty, recent banking sector volatility, and potential changes in regulatory capital requirements as reasons for the cut. The bank also confirmed it is exploring strategic alternatives, which could include a fresh capital increase or the breakup of its Pacific Western Bank franchise from its other consumer and commercial lending businesses. PacWest had scrapped plans to raise capital in March and noted last week that 75% of its $28.2 billion deposit base fell within the FDIC’s protection threshold.
With the Federal Reserve likely pulling back interest rates for the foreseeable future and inflation cooling off, there’s still time to take advantage of a rare opportunity we haven’t seen since 2007. Our Head Fundamental Karim Rahemtulla is telling readers about his new “Super Income System.” It’s possible this system could hand you 68 payouts throughout the year, as long as you lock in your investments before June 14.
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Occidental Petroleum Corp. (NYSE: OXY)
Shares in Occidental Petroleum Corp. dropped 0.49% in pre-market trading after Warren Buffett announced that Berkshire Hathaway Inc. would not make an offer for full control of the energy group, tempering speculation that he was seeking to own the company. However, Berkshire didn’t rule out buying more of Occidental’s stock, given that it is already the company’s largest shareholder, owning a 24% stake. Occidental Petroleum Corp.’s shares have dropped 3.7% this year through Friday’s close amid a slump in commodity prices, and fell as much as 3.4% in early trading before paring losses to 1.5%.
Those are the biggest stock movers for today.
Happy trading!
The Wake-Up Watchlist Research Team