Footwear Maker Jumps 9%

Good morning Wake-Up Watchlisters! While you’re sippin coffee you’ll see stock futures climbed on Wednesday after a top Federal Reserve official hinted the central bank is done with rate hikes. Fed Governor Christopher Waller said there was “no reason” to insist rates stay “really high” if inflation continues to cool, and influential investor Bill Ackman said a rate cut could come as soon as the first quarter.

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

Foot Locker (NYSE: FL)

Foot Locker is up 9.06% premarket after the athletic footwear retailer easily beat quarterly earnings and sales estimates and narrowed its fiscal-year outlook. Foot Locker posted third-quarter adjusted earnings of 30 cents a share, above Wall Street’s calls for 21 cents a share, according to FactSet.

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Gamestop Corp. (NYSE: GME)

Gamestop is up 10.67% premarket after strong premarket trading volume led to it becoming the third most actively traded stock on the New York Stock Exchange. Both Gamestop and AMC were among the most discussed by traders on social media site on Wednesday.

NetApp, Inc. (Nasdaq: NTAP)

NetApp is up 11% premarket after its latest earnings report. The company’s earnings per share of $1.58 topped the $1.39 expected on revenues of $1.56 billion vs. $1.53 billion expected. For the quarter ending October 2023, NetApp reported revenue of $1.56 billion, down 6.1% over the same period last year.

General Motors Company (NYSE: GM)

General Motors is up 7.82% premarket after the automaker announced a $10 billion share repurchase. The company is seeking to reassure investors about the health of its core car-making business after setbacks in fledgling pursuits like EVs.

Workday, Inc. (Nasdaq: WDAY)

Workday is up 8.71% premarket after the software maker reported Q3 earnings that topped estimates and raised its fiscal 2024 revenue outlook. Revenue climbed 17% to $1.87 billion, including acqusitions. Analysts expected Workday earnings of $1.41 a share on revenue of $1.85 billion. A year earlier, Workday earnings were 99 cents a share on sales of $1.6 billion.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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