Oh My, Confluent…
Attention Traders: It’s Thursday and our Head Trading Tactician Bryan Bottarelli has a special bonus video for you. Today he’s going his fourth big prediction for 2024. You won’t want to miss this. Click the image below to learn more.
Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see U.S. stock futures were up and down on Thursday as investors dealt with a new batch of company reports (more on those below). Despite the volatility, traders are still pouring into big tech stocks, with the S&P 500 hitting a fresh high on Wednesday and is now over 5,000 as of this morning.
Here’s a look at the top-moving stocks this morning.
Confluent (NYSE: CFLT)
Confluent is up 24.57% in premarket trading following a strong Q4 report. The company showcased significant growth, with a 26% increase in revenue to $213 million for the quarter. Notably, Confluent achieved its first positive non-GAAP operating margin in Q4 and improved its free cash flow to $6.8 million.
Our Head Trading Tactician Bryan Bottarelli got positioned on CFLT in The War Room yesterday.
Click here to see how Bryan’s overnight trading strategy could double your money while you sleep.
Arm Holdings (Nasdaq: ARM)
Arm Holdings is up 25.10% in premarket trading due to strong forecasts linked to the AI-driven demand for new chip designs. This demand is expected to increase royalties for Arm, a key player in chip blueprint sales. The company’s success in the AI sector is propelling it towards adding nearly $20 billion in market value. Arm’s innovative approaches in processors for AI work in data centers, alongside new laptops and smartphones capable of handling AI features, are significant factors in this growth.
Artificial Intelligence continues to change the world as companies and countries try to get as much of their hands on this new tech as possible. Our Lead Technical Tactician Nate Bear has made tech stocks a major focus of his trading in Daily Profits Live. Last week he closed a 175.24% winner on META in less than 1 trading day.
Click here to see how Nate uses his unique TPS trading system to trade tech stocks.
The Walt Disney Company (NYSE: DIS)
Disney’s stock is up 6.26% in premarket trading following its fiscal first quarter earnings report, which surpassed expectations. The company announced a 50% increase in its cash dividend and is on track to meet a $7.5 billion annualized savings target by the end of fiscal 2024. This performance, along with new initiatives in gaming and content, has significantly boosted investor confidence.
Under Armour (NYSE: UAA)
Under Armour is up 9.09% in premarket trading due to the company raising its annual profit forecast. Improved financial expectations come as a result of easing input and freight costs, with the company now predicting profits between 57 to 59 cents per share for fiscal 2024, an increase from the previous forecast of 47 to 51 cents per share.