Vaccine Maker Gets an Upgrade
Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures fell on Wednesday after fresh jobs data caused optimism for interest-rate cuts to dip. Hopes that the year-end market rally would roll into 2024 hit a snag as indexes closed to their worst start in decades. Overall, the JOLTS report on job openings will set the fed’s expectations for the labor market and for the December monthly jobs report on Friday.
Despite the volatile 2024 start in the markets, we were on fire on The War Room yesterday. Our Lead Fundamental Tactician Karim Rahemtulla closed 12 winning trades, including 38% gain on TEVA in 433 trading days.
Here’s a look at the top-moving stocks this morning.
Moderna, Inc. (Nasdaq: MRNA)
Moderna is up 1.70% in premarket trading after the vaccine maker received an upgrade from Oppenheimer & Co Analyst Hartaj Singh. Singh upgraded shares to “outperform,” with a price target of $142 per share. Singh based his upgrade on the idea that Covid-19 demand is bottoming and that means new material catalysts are coming to fund the pipeline.
Rivian Automotive, Inc. (Nasdaq: RIVN)
Rivian is down 1.94% premarket after the electric vehicle company fell short on deliveries in its latest data release. The EV maker said it produced 17,541 units and delivered 13,972 vehicles in the fourth quarter. Analysts had predicted fourth-quarter vehicle deliveries growing 75% to 14,000.
Our Lead Technical Tactician Nate Bear is focusing on another top EV company in Daily Profits Live this week.
Click here to unlock his latest trade.
Longboard Pharmaceuticals (Nasdaq: LBPH)
Longboard Pharmaceuticals is up 3.47% premarket after the company announced promising test results for a seizure treatment on Tuesday. In a study called Pacific, patients who received Longboard’s drug had 32.5% fewer seizures than placebo recipients. This put the biotech stock at its highest-ever point.
Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices is down 2.09% in premarket trading and fell 6% overall yesterday. The stock dropped on the news that ASML had halted shipments of its lithography machines for semiconductor fabrication to China. ASML’s decision reportedly stemmed from pressure applied by the U.S. government.
Those are the biggest stock movers for today.
Happy trading!
The Wake-Up Watchlist Research Team
