Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were down on Tuesday. A downgrade on several banks credit rating from Moody’s played a key role. However, the corporate earnings season has so far been better-than-expected. Almost 90% of S&P 500 stocks have reported quarterly results, and nearly 80% of them have beaten Wall Street’s expectations.

Did you see the latest announcement yesterday from our Lead Technical Tactician Nate Bear? Nate just launched his latest service, Profit Surge Trader. His goal is to maximize the profit from trading just ONE TICKER per month. And yesterday he announced which ticker he’ll be looking at in Month 1.

Click here to discover Profit Surge Trader.

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

Chegg, Inc. (NYSE: CHGG)

Chegg is up 19.64% premarket after the online learning provider posted better-than-expected revenue numbers for the June quarter. It also laid out a new AI-focused strategy. This was a contrast to March’s results when shares fell nearly in half and the company blamed its performance on free chatbots like ChatGPT.

Yesterday our Head Trading Tactician Bryan Bottarelli got positioned on CHGG in The War Room.

Click here to see how overnight trades could double your money in less than 24 hours.

Beyond Meat (Nasdaq: BYND)

Beyond Meat is down 14.92% premarket after seeing it sales collapse by nearly a third as cash-strapped shoppers turn to cheaper options. Its shares were on target to open below $13 in New York on Tuesday, after having been valued at $234 in 2019.

We recently got positioned on a trade in BYND in The War Room.

Click here to unlock that trade.

Lucid Group (Nasdaq: LCID)

Lucid Group is up 2.96% premarket despite missing earnings. The EV company reported a second-quarter per-share loss of 40 cents from sales of about $151 million. Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Eli Lilly and Company (NYSE: LLY)

Eli Lilly and Company is up 9.69% premarket after recording quarterly profit and revenue well ahead of Wall Street’s expectations. The spike was aided by strong demand for its new diabetes drugs Mounjaro due to its use as a weight-loss treatment. Its stock is up 50% over the past 12 months and nearly 25% so far this year.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team