Inflation Weighs on HP, Box

Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures slipped on Wednesday. The futures dropped after the latest price data shows inflation is still a problem in the euro region. Conference Board’s monthly consumer confidence index showed a surprise dip in August, with rising gas prices and lowered optimism regarding the labor market as primary factors.

When inflation hurts dollar value, it’s crucial to consider investments outside of the traditional stock market. Right now our friend Marc Lichtenfeld is showing readers a way to collect monthly income over and over again – while also banking huge capital gains.

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

HP Inc. (NYSE: HPQ)

HP is down 8.42% premarket after inflation and global market volatility resulted in a decline in demand for consumer electronics last year, leading to increased inventory across the supply chain. It posted $13.2 billion in revenue, missing the estimate from analysts polled by Refinitiv of $13.37 billion.

PVH Corp. (NYSE: PVH)

PVH Corp. is up 3.07% premarket after the Calvin Klein parent moved on the heels of a strong financial report. PVH reported $1.98 in earnings per share, excluding items, on $2.21 billion in revenue, while analysts surveyed by Refinitiv forecast $1.76 per share and revenue at $2.19 billion. It also reaffirmed its full-year revenue guidance and raised its outlook for earnings per share for the year.

While tech stocks have been massive needle movers for the economy in 2023, retail stocks like PVH have also had their moments. Last week our Head Trading Tactician Bryan Bottarelli closed a triple-digit winner on Abercrombie and Fitch in 1 trading day.

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Box, Inc. (NYSE: BOX)

Box is down 9.42% premarket after a mixed second-quarter report. Box’s revenue came in at $261 million, in line with Wall Street’s estimates, according to Refinitiv. Box also posted weak guidance on both lines for the current quarter and for full-year revenue.

Yesterday our Lead Technical Tactician Nate Bear broke down another software company he’s looking to make a trade on.

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Ambarella, Inc. (Nasdaq: AMBA)

Ambarella is down 20.16% in premarket after the computer-vision chipmaker Ambarella beat estimates for its fiscal second quarter but gave a weak sales forecast going forward. For the current quarter ending Oct. 31, Ambarella expects sales of $50 million. Wall Street had called for revenue of $67.9 million in the fiscal quarter. In the same quarter last year, Ambarella posted sales of $83.1 million.

Yesterday our Lead Trading Tactician Bryan Bottarelli got positioned on AMBA in The War Room for an overnight earnings play and got the massive move he wanted.

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Gold investment numbers are soaring

As inflation continues to eat away at the dollar, over 100,000 investors are buying up gold at a price not seen in years. Gold has outpaced some of the world’s best assets like stocks, bonds and real estate.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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