DWAC Surges After Settlement

Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures edged higher on Friday. Investors are looking to get some momentum back after the Nasdaq saw its steepest one-day decline since March yesterday. Bond yields also saw a sharp move higher, which was triggered by the second lowest tally for weekly jobless claims since February. Overall, investors are worried the resilient job market will lead to the Federal Reserve raising interest rates into the back half of the year.

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

Digital World Acquisition Group (Nasdaq: DWAC)

Digital World Acquisition Group is up 19.01% premarket after the company reached a settlement with the SEC over fraud charges against the company for making material misrepresentations in forms filed with the SEC as part of DWAC’s initial public offering and proposed merger with Trump Media & Technology Corp.

Intuitive Surgical (Nasdaq: ISRG)

Intuitive Surgical is down 4.65% premarket after its financials failed to meet expectations. Although its revenue climbed 15% year over year to $1.76 billion, many patients returned to having elective procedures done after delaying them during the early years of COVID-19. This led to many shareholders wanting to see sharper gains.

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American Express (NYSE: AXP)

American Express is down 2.89% premarket after beating estimates for second-quarter profit on Friday. Its affluent customer base continues to spend, with total revenue net of interest expense rising 12% to $15.05 billion. This was driven by higher average loan volumes and increased card member spending.

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The Interpublic Group of Companies (NYSE: IPG)

The Interpublic Group of Companies is down 10.34% premarket after its latest earnings report. Revenue for the advertising group before billable expenses was just $2.33 billion, a decrease of 2% and an organic decrease of 1.7%.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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