More Banks Spike After Earnings

Attention traders: It’s Monday and our Lead Technical Tactician Nate Bear is giving out his stocks to watch for the week. One company he’s got his eyes on is a semiconductor group as their earnings day approaches. Click the image below to see what he’s looking at this week.

Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stocks were flat on Monday as investors prepare for more earnings reports. Charles Schwab is set to report earnings today (more on that below) as the stock has been under pressure as traders fear the brokerage may suffer a similar fate to regional banks Silicon Valley and Signature bank.

The big banks recent resilience has calmed investors on Wall Street. And as inflation continues to cool and interest rates likely drop, it’s crucial to consider a major opportunity due to this current development. Our Head Fundamental Trading Tactician Karim Rahemtulla is letting readers know about a special income play. He’s so bullish on this opportunity he’s going “all-in” and showing subscribers exactly how much money he’s investing.

Click here to discover Karim’s “Super Income System.”

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

Charles Schwab (NYSE: SCHW)

Charles Schwab is up 2.62% premarket ahead of earnings and is expected to post a bottom line of 90 cents per share, up 17% from last year on revenues nearing $5.13 billion, according to Street forecasts. Schwab saw a 28% decline in average margin balance sin March in the immediate wake of the collapse of Silicon Valley bank.

We’re currently positioned on SCHW is the War Room and last month closed a trade on the retail stock for a 38% gain.

Click here to unlock that trade.

Fox Corporation (Nasdaq: FOX)

Fox Corporation is down 5.01% premarket with the Dominion Voting Systems $1.6 billion defamation trial slated to begin today. However, the latest reports indicate the trial has been pushed back a day and a source familiar with the matter says the media giant is pursuing settlement talks. Dominion is suing Fox Corp and Fox News in a defamation lawsuit over the network’s coverage of the 2020 U.S. presidential election.

M&T Bank Corporation (NYSE: MTB)

M&T Bank Corporation is up 3.78% premarket after beating estimates for first-quarter profit on Monday, as the U.S. Federal Reserve’s rapid rate hikes helped boost the lender’s interest income. M&T’s rise is the latest in a windfall of premarket boosts from U.S. banking heavyweights. Net interest income for the bank doubled to $1.83 billion in the first quarter, with compared to $907 million a year earlier.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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