Bank Struts The Billionaire Walk

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Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were down on Friday as the big banks kicked off earnings season. The big question is whether the banking sector is prepared for longer lasting interest rates, and one bank in particular came out swinging (more on that below).

While the markets are down this morning, it doesn’t mean you have to lose money. On Wednesday our Lead Fundamental Tactician Karim Rahemtulla closed a 31% premium capture on NEE in 6 trading days.

Click here to learn more about how put trading works in The War Room.

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

Dollar General (NYSE: DG)

Dollar General is up 8% in premarket trading after investors and analysts got a shot of confidence after CEO Todd Vasos returned to the top job. Vasos will attempt to help steer the retailer away from weakning traffic and margin pressure. Dollar General has missed profit estimates in all of the past four quarters.

JP Morgan Chase & Co. (NYSE: JPM)

JP Morgan Chase & Co. is up 0.65% premarket after profits surged in the third quarter. The New York bank reported earnings of $13.2 billion that were up 35% from the same period a year ago. Its revenue of $40.7 billion was up 21%. Overall, it was a major flex that reinforces the dominance of the industry’s largest bank.

United Health (NYSE: UNH)

United Health is up 1.78% premarket after topping revenue estimates and slightly raising 2023 earnings guidance. The company’s medical costs came in lower than expected, and the company attributed growth to an increase in the number of people served by its Optum health services.

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Activision Blizzard, Inc. (Nasdaq: ATVI)

Activision is up 0.13% premarket. Microsoft’s $75 billion acquisition of the company officially received clearance today. However, there is one significant potential hurdle remaining. The FTC is moving forward with an attempt to challenge the deal. The effort won’t affect Microsoft’s acquisition, but there’s a chance that the FTC could force the company to divest some or all of Activision Blizzard.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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