Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures rose again on Wednesday. Tech giant Microsoft fueled the rally, as the stock soared following news about its AI-powered office tools and its AI alliance with Meta Platforms. Chip giant ASML, Tesla and Netflix will report earnings later today.

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

Carvana (NYSE: CVNA)

Carvana is up 42.61% premarket after the nation’s largest online used auto retailer delivered the best quarter in company history. Its total gross per unit was $6,520, an increase of 94% compared to second quarter 2022. Net loss margin was 3.5%, an improvement of 7.5% compared to first quarter 2023.

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Elevance Health (NYSE: ELV)

Elevance Health is up 3.86% premarket after posting its latest full-year profit forecast. The health insurer is currently predicting full-year profit above estimates after its latest earnings beat. It cited lower-than-expected medical costs as the primary factor.

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VMware (NYSE: VMW)

VMWare is up 7.73% premarket after the U.K.’s Competition and Markets Authority provisionally cleared the acquisition of the cloud infrastructure company by Broadcom Inc. The final decision on the deal is expected no later than Aug. 9. Broadcom has said it expects to close the deal in its current fiscal year.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team