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Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were up on Friday. Tech stocks came in strong, with Intel and Amazon easing worries (more on that below). While the lift was much-needed after a sell-off that led the S&P 500 to flirt with correction territory, all eyes will now be on an update to the personal consumption expenditures index – the Federal Reserve’s preferred inflation gauge.

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

Intel Corporation (Nasdaq: INTC)

Intel Corporation is up 7.20% premarket after reporting strong third quarter earnings. The chipmaker beat analyst’s expectations on the top and bottom lines and provided Q4 guidance implying revenue growth for the first time since 2020. Intel’s third quarter revenue came in at $14.2 billion with adjusted earnings per share of $0.41. Analysts were expecting revenue of $13.5 billion.

While everybody was fixated on MSFT and GOOG, our Head Trading Tactician Bryan Bottarelli got into a 2-sided overnight trade on INTC.

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Amazon (Nasdaq: AMZN)

Amazon is up 6.46% premarket after earnings and bullish comments around artificial intelligence. CEO Andy Jassy told analysts on the earnings call that AI represents an opportunity worth “tens of billions” for Amazon’s cloud business, Amazon Web Services. This year, AWS launched its Bedrock AI service, which streamlines the development of large language models. Overall, sales were up 12% year-over-year and the division’s operating income is also on the upswing.

Our Lead Technical Tactician Nate Bear specializes in trading ONE STOCK over and over again after earnings. He focuses on what he calls the “post-earnings surge” to make one trade over and over again for maximum potential gain.

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Enphase Energy (Nasdaq: ENPH)

Enphase Energy is down 20.27% premarket. The solar provider predicted fourth-quarter sales of $300 million to $350 million, while analysts had expected $579 million. The company also projected the slowdown in solar-product sales will last through the first quarter of 2024, sending the stock down.

Chevron Corporation (NYSE: CVX)

Chevron Corporation is down 2.33% premarket after a big earnings miss. The earnings miss came amid weak returns from its overseas refineries as the oil giant moves closer to $53 billion purchase of storied rival Hess Corp. Chevron’s overseas refineries underperformed expectations, delivering roughly half the profit analysts forecast.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team