Going in on AI

By George Banko

September 8, 2023

Attention Readers: We have an exciting announcement in the world of Artificial Intelligence. Manward’s own Alpesh will be hosting a live webinar on Wednesday, September 13 at 2 p.m. EST. This webinar will go over exactly how you can start tapping into the AI boom for your own portfolio. It’s completely free to sign up.

Click here to get on the guest list for the live AI webinar.

Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll stock futures dipped on Friday. The markets are on track for a losing week due to concerns over potential interest rate hikes from the Fed. Those concerns were echoed after initial jobless claims came in at 216,000, which was lower than the 230,000 anticipated by economists polled by Dow Jones. Right now investors are calling for a 50% chance the Fed will raise rates in November.

Down markets can lead to fear of investing, but the truth is they actually create buying opportunities if you know what to look for. Back in 2022 when the markets saw their biggest dip since the housing crisis, our Head Fundamental Tactician Karim Rahemtulla was pounding the table on what he’s calling “The Last Great Value Stock.” Since last September, this stock has risen a whopping 198.91%, and Karim believes it still has more room to grow.

Click here to unlock The Last Great Value Stock.

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

Smartsheet (NYSE: SMAR)

Smartsheet is up 9.02% premarket after the work management software company beat analyst estimates for second-quarter earnings. The company reported an adjusted 16 cents per share on $235.6 million in revenue, while analysts polled by FactSet forecasted 7 cents per share in earnings and $229.6 million of revenue.

Earnings Day can often serve as a key catalyst day for a stock’s direction. However, there’s another phenomenon called the “post-earnings surge” that offers multiple buying opportunities for potential gains. Our Lead Trading Tactician Nate Bear focuses on these payout days by trading just ONE TICKER over and over again.

Click here to see his latest reveal before a potentially lucrative announcement on September 11.

RH (NYSE: RH)

RH is down 7.75% premarket after the luxury home furnishings company reported a weak outlook. The company itself issued a lower-than-expected guidance for third-quarter operating margin of 8% to 10% while Wall Street expected 16.1%, according to Street Account. Third-quarter revenues are expected to come in between $740 million and $760 million, while analysts called for $773 million.

Docusign (Nasdaq: DOCU)

Docusign is up 3.01% premarket after big new clients and a deeper push into AI technologies are set to drive Docusign revenues higher over the back half of the year. The company earned 72 cents per share over the three months ending in July, rising around 63% from last year topping Street forecasts on a non-GAAP basis by around 6 cents per share. The group also notched an 11% gain in revenues, which hit $669.4 million.

Planet Labs PBC (NYSE: PL)

Planet Labs is down 3.25% premarket after shares of the satellite imagery company slid more than 6% after it fell short of analsys’ expectations in its latest quarterly report. Planet Labs reported a second-quarter loss of 14 cents per share and revenue of $53.8 million. Analysts polled by Refinitiv called for a loss of 8 cents per share and revenue of $51.4 million.