Clothing Retailer Pops 19%
Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures rallied on Friday. The latest boost capped a week of solid gains as Wall Street looked to the consumer price index and oil’s losses for signals to a slowing economy. All three US indexes are on track for weekly wins thanks to a roaring midweek rally.
The markets are hot right now, and our Lead Trading Tactician Bryan Bottarelli has been taking advantage in The War Room. Yesterday he closed a massive 149.7% winner on CSCO in less than 1 trading day.
Here’s a look at the top-moving stocks this morning.
The Gap, Inc. (NYSE: GPS)
The Gap is up 19.60% premarket after reporting third-quarter earnings that beat analyst forecasts on both the top and bottom lines. CRFA Analyst Zachary Warring tells Yahoo Finance Live that the results show the retailer is “definitely going the right direction.”
ChargePoint (NYSE: CHPT)
ChargePoint is down 27.48% premarket after the vehicle charging company said it expected third quarter revenue of between $108 million and $113 million. These were way below previous expectations of between $150 million and $165 million. It also replaced its chief executive and chief financial officer.
Our Lead Fundamental Tactician Karim Rahemtulla recently wrote about EV companies at bargain prices.
Applied Materials, Inc. (Nasdaq: AMAT)
Applied Materials is down 7.24% premarket but it’s not about its earnings. Reuters reported the company is under investigation for sending products to a Chinese company without the required licenses. Applied Materials said it has received a subpoena from the U.S. Attorney’s Office “requesting information related to certain shipments to China.”
Alibaba Group Holding (NYSE: BABA)
Alibaba is down 3.45% premarket after the Chinese tech company said it wouldn’t create a separate division for its cloud computing branch. It cited risks to the business from recently expanded U.S. control over advanced computer chips.
The recent surge in demand for advanced computer chips has caused tensions between China and the U.S. to rise. Right now a U.S. tech company is fighting back.
Those are the biggest stock movers for today.
The Wake-Up Watchlist Research Team