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Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were down on Tuesday. The drop came as investors continue to weigh the Israel-Hamas conflict on the latest flood of earnings. The rising geopolitical tensions could lead to a global recession. However, earnings season is off to a strong start with several signs Corporate America could be seeing an end to its own recession.
While the markets have been in flux, they’ve had nothing on The War Room. Last week Bryan and Karim posted an 89% win rate, closing 8-of-9 trades for winners, including a double-digit win on SLB in less than 1 trading day.
Here’s a look at the top-moving stocks this morning.
Choice Hotels International (NYSE: CHH)
Choice Hotels is down 5.53% premarket after its latest proposal to acquire Wyndham Hotels for $90 per share. The proposal would also include a cash or stock election mechanism, which would provide Wyndham shareholders with the ability to choose either cash, stock or a combination of cash and stock consideration.
Wyndham Hotels & Resorts (Nasdaq: WH)
Wyndham Hotels is up 15.95% premarket after the report that Choice Hotels is offering nearly $8 billion for the rival competitor. Choice Hotels first approached Wyndham in April, offering $80 per share, with 40% of that cash and 60% Choice stock, but was rejected. Its since bumped the offer to $90 per share.
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Johnson & Johnson (NYSE: JNJ)
Johnson & Johnson is up 1.65% premarket. The company posted stronger-than-expected third quarter earnings on Tuesday, while boosting its full-year profit forecast. The gains came from its new cancer treatments. Overall, operational sales are expected between $83.6 billion and $84 billion.
The Goldman Sachs Group (NYSE: GS)
Goldman Sachs is down 0.02% premarket after seeing its profit fall in the third quarter. The loss came from a writedown on its GreenSky fintech business and its investment in real estate. The Wall Street giant reported net profit of $2.06 billion, or $5.47 per share, for the three months ended Sept. 30. Goldman’s ill-fated foray into consumer banking proved costly, losing $3 billion over three years.
Those are the biggest stock movers for today.
Happy trading!
The Wake-Up Watchlist Research Team
