Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were mixed on Thursday after rallying to record highs on Wednesday. Chipmaker Nvidia pushed the S&P and the Nasdaq to new heights after it became the third company to receive a $3 trillion or more market valuation. Investors also priced in more rate cuts for the sixth day in a row.

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

Five Below (Nasdaq: FIVE)

Five Below is down 15.76% in premarket trading due to an overstock of Squishmallows, which hurt revenue numbers. The company came out with quarterly earnings of $0.60 per share, missing the Zacks Conensus Estimate of $0.62 per sahre. The quarterly report represented an earnings surprise of -3.23%.

Semtech Corporation (Nasdaq: SMTC)

Semtech Corporation is up 8.82% in premarket trading after reporting $206.11 million in revenue for the quarter. The semiconductor company said it expects second-quarter earnings per share of 9 cents, and sales of $212 million, which were ahead of Wall Street estimates of $210.2 million.

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Smartsheet Inc. (NYSE: SMAR)

Smartsheet is up 14.74% in premarket trading after coming out with quarterly earnings of $0.32 per share, which beat the Zacks Consensus Estimate of $0.27 per share. The SaaS company also reported revenue of $262.98 million.

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Lululemon Athletica (Nasdaq: LULU)

Lululemon Athletics is up 7.96% in premarket trading after the yoga pants maker announced it’s raising its share buyback authorization by $1 billion. This was the second time in six months the company has boosted returns for shareholders.

Novavax (Nasdaq: NVAX)

Novavax is up 12.30% in premarket trading after the vaccine maker said it would be able to deliver a regular-reccomended vaccine against a strain of Covid-19 by early fall. The U.S. Food and Drug Administration’s Vaccines and Related Biological Products Advistory Committee voted to recommend that Covid-19 vaccines be upated for the upcoming season.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team