A New Kind of Cracker Barrel

By George Banko

May 17, 2024

Attention Traders: Time is starting to run out. Nvidia (NVDA) is reporting earnings in less than a week, and our Head Trading Tactician Bryan Bottarelli will be going live to reveal his strategy during his “Nvidia Super Trade Event.” It’s completely free, but you’ll have to sign up below soon.

Click here to get on the guest list for this unique opportunity.

Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were flat on Friday. While there wasn’t much movement in the indexes, there was still excitement among investors. The Dow reached a high of 40,051.05, and the indexes are on track to end the week with gains. Plus, there are no major financial reports from companies expected.

As earnings season continued, our Lead Trading Tactician Bryan Bottarelli has been finding winning opportunities in The War Room. Yesterday he closed a 74.7% overnight gain on WMT.

Click here to get Bryan’s next overnight trade in The War Room today.

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

Reddit, Inc. (NYSE: RDDT)

Reddit is up 17.24% in premarket trading after announcing a new AI partnership. The social media site will join Microsoft-backed OpenAI, and will give OpenAI access to Reddit’s Data API. This will let the artificial intelligence startup learn from Reddit content in real time. Reddit in turn will receive AI-powered features.

Doximity, Inc. (NYSE: DOCS)

Doximity is up 15.25% in premarket trading after reporting a 6% year-over-year revenue increase to $118.1 million. The leading digital platform for medical professionals in the U.S. cited strong engagement, with over 580,000 unique providers utilizing the company’s workflow tools in the last quarter, as the reason for the spike.

DXC Technology Company (NYSE: DXC)

DXC Technology is down 23.14% in premarket trading after forecasting first-quarter and full-year revenue below estimates on Thursday. Rising borrowing costs were the driving force when it came to curbing IT spending. The company saw a fiscal fourth-quarter decline 5.7% from a year ago.

Cracker Barrel (Nasdaq: CBRL)

Cracker Barrel Old Country Store is down 12.83% in premarket trading after the restaurant chain reduced its dividend to 25 cents a share from $1.30. The company cited a strategic transformation plan as a reason for the drop. Restaurant chains have been undergoing a shift as of late, with Red Lobster announcing plans to clsoe 87 locations in 27 states.