Website Maker Pops 11%

By George Banko

August 3, 2023

Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures fell on Thursday. Fitch’s downgrade of U.S. long-term credit put extra pressure on investors, and caused a selloff on Wall Street. Traders will be monitoring jobless claims data today to gauge the strength of the labor market.

When a big news item like Fitch’s downgrade derails the markets, it’s crucial to know how to avoid landmine trades. Our Tacticians Bryan Bottarelli and Karim Rahemtulla have been through rough market days before and use several strategies to manage risk in The War Room.

Click here to see how they’re trading the recent Fitch downgrade.

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

PayPal (Nasdaq: PYPL)

PayPal is down 7.99% premarket after the payments giant said a key measure of profits shrank in the second quarter as the company had to set aside more money to cover souring loans it has made to merchants.

When the markets are down, it’s vital to consider other trading opportunities outside of traditional stocks. Our friend Marc Lichtendfeld’s No. 1 pick for 2023 is NOT a stock or bond, and he believes it could bank you HUGE capital gains.

Click here to see how this rare opportunity could lead to monthly income over and over again… for life.

Wix.com (Nasdaq: WIX)

Wix.com is up 11.57% premarket after the website maker outproduced in the second quarter. Revenue numbers totaled $390 million, which exceeded expectations. Its creative subscriptions and business solutions revenue growth accelerated for the third consecutive quarter.

$mid_ad_zone

Sunrun (Nasdaq: RUN)

Sunrun is up 10.15% premarket after turning in a surprise profit. The positive sentiment around the company defied the current gloominess of the solar sector. The quarterly report shows an earnings surprise of 173.53%. A quarter ago, it was expected this solar energy products distributor would post a loss of $0.04 per share, but instead it produced a loss of $1.12, delivering a surprise of -2,700%.

DXC Technology (NYSE: DXC)

DXC Technology is down 19.47% in premarket after cutting its annual revenue forecast. The IT services provider has been struggling with tough competition and lower spending as it worries about turbulent economy. The company now expects annual revenue to range between $13.88 billion and $14.03 billion.