Rally Caps are On…
Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures rallied again on Wednesday. Yesterday investors embraced the idea that cooling inflation would put interest rate hikes on hold as they wait for a consumer health check. Quarterly results from companies like TJX should give more clues into spending patterns.
As earnings season continues, it’s crucial to consider how stocks behave AFTER reporting numbers. Our Lead Technical Tactician Nate Bear is letting readers in on a vital chart phenomenon called the “post earnings surge.” He uses it to trade just ONE TICKER over and over again for maximum potential gain.
Here’s a look at the top-moving stocks this morning.
Target Corporation (NYSE: TGT)
Target Corporation is up 14.41% premarket after crushing earnings estimates. Target said adjusted earnings for the three months ending on October 28 were pegged at $2.10 a share, a 36.4% increase from the same period last year. Profit margins were up by 300 basis points, or 3 percentage points, from last year’s quarter to 27.4%, Target said.
JD.com, Inc. (Nasdaq: JD)
JD.com is up 4.72% premarket after the Chinese e-commerce giant beat analyst estimates for quarterly profit and revenue, helped by a better performance in its main business lines and cost controls. It saw a 1.7% rise in quarterly revenue, after heavy promotional spending propelled online transactions in the face of intense competition. Revenue came to $247.7 billion in the September quarter, versus the $246.6 billion average analyst estimate.
Enphase Energy (Nasdaq: ENPH)
Enphase Energy is up 2.14% premarket after the latest consumer price index report raised optimism that the Fed may stop boosting inflation rates to flight inflation. Other stocks in the solar power sector also advanced.
C3.ai, Inc. (NYSE: AI)
C3.ai is up 1.55% premarket after announcing it expanded its artificial intelligence collaboration with Amazon. The two companies struck the original deal in 2016, which involves AWS using C3 AI products to deliver AI solutions across a variety of industries. The updated deal will have the firms focus on “continuing to offer advanced generative AI solutions for enterprises.
Our Lead Technical Tactician Nate Bear has been focusing on AI and tech stocks in Daily Profits Live. Earlier this week he closed a 50% winner on DDOG in three trading days.
Those are the biggest stock movers for today.
The Wake-Up Watchlist Research Team