FDA Sends Health Stock Soaring

Good morning Wake-Up Watchlisters! While you’re sipping that coconut water you’ll see US stocks dipped as inflation worries continue to put pressure on central banks to contain it. Later in the week, focus will shift to the US consumer price index for more clues on the Federal Reserve’s rate path going forward.

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

Novavax, Inc. (Nasdaq: NVAX)

Novavax is up 17.12% premarket after the Federal Drug Administration (FDA) expert panel voted to recommend the company’s latest COVID vaccine to adults. The next steps include an FDA decision and a CDC advisory meeting to achieve full authorization. Keep an eye on Novavax going forward.

Docusign (Nasdaq: DOCU)

Docusign is up 4.59% premarket after the company announced an expansion of its global partnership with Microsoft. This collaboration is expected to bring agreement processes directly into the flow of work with the cloud – from virtually anywhere. With more people working from home than ever, this could be promising for the digital contract company. Docusign is looking strong.

Smartsheet Inc. (NYSE: SMAR)

Smartsheet is down 6.97% premarket after the company’s own outlook for its stock disappointed yesterday. The software company said that on an adjusted basis it lost 18 cents per share, which is a bigger loss than a year earlier. Smartsheet is looking volatile.

Life Storage (NYSE: LSI)

Life Storage is down 6.11% premarket as analysts are becoming less bullish on the stock. Life Storage reported excellent first-quarter results in early May. However, BMO Capital Markets analyst Juan Sanabria recently downgraded shares from out perform to market perform, citing worry a recession would impact the company’s warehousing services.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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