Boom Goes the Cloud Company
Good morning Wake-Up Watchlisters! While you’re dunking those day-old donuts in your instant coffee you’ll see stocks climbed Friday as investors scale back expectations for inflation and interest rate hikes.
Wall Street is waiting to see what will happen if the economic downturn takes hold. One scenario includes a cooling down of price pressures after the Federal Reserve’s latest interest rate hikes.
Here’s a look at the top-moving stocks this morning.
ZenDesk is up 55.31% premarket after The Wall Street Journal reported the cloud-based customer service software was in takeover talks with a group of buyout firms. These talks include Hellman & Friedman and Permira and a deal could be reached in the coming days if the discussions don’t fall apart. Keep an eye on ZenDesk going forward.
Marathon Oil Company (NYSE: MRO)
Marathon Oil is up 3.95% premarket after seven oil executives (including Marathon Oil CEO Lee M. Tillman) met with US President Joe Biden’s administration yesterday. The talks were about how to get gas prices down, and one of the main solutions was to produce more oil to combat supply and refining issues. Keep an eye on Marathon Oil going forward.
While oil is proving to be one of the best hedges against inflation right now – there’s an emerging market we also want you to know about. The renewable energy sector is expected to reach $7 trillion in the future – and our friend Andy Snyder is pounding the table on a startup company that he’s dubbing the ‘next blockbuster EV company.’ If you missed Tesla, you’ll want to know about this company.
Spirit AeroSystems Holding (NYSE: SPR)
Spirit Aerosystems is down 4.49% premarket after Boeing Co. CEO David Calhoun said he expects supply chain issues to impact the aerospace industry to last until possibly late 2023. Calhoun also added that labor availability is another issue and Spirit is looking to increase its staff by more than 2,000 employees. Spirit is looking volatile.
Zillow (Nasdaq: ZG)
Zillow is down 2.90% premarket as mortgage rates march closer to 6%. After the latest Federal Reserve interest rate hike, mortgage rates are currently at 5.81% after being 3% earlier in the year. Many of the people in the market have already been priced out, and a housing hibernation is more likely now. Zillow is looking volatile.
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Those are the top market movers today.
The Wake-Up Watchlist Research Team