| Micron [MU] - Last Close: $67.07 Micron is running hot after an earnings report. The chipmaker released its fiscal Q3 results late Wednesday, and the results were better than expected. Micron reported a non-GAAP loss of $(1.43) per share, against the consensus of a $(1.57) per share loss. Revenues came in at $3.75 billion, down a whopping 56.5% YoY, but still managed to top the consensus of $3.68 billion. Micron's fiscal Q4 guidance fell below the Street's expectations. MU is this morning's top S&P 500 stock with a 3.3% gain. My Take: Shares of MU are responding well, even thought this earnings report didn't seem to be very encouraging. Chip stocks are notoriously cyclical, and it looks like the sector is hit right now. Sigilon Therapeutics [SGTX] - Last Close: $3.93 Sigilon is soaring on the heels of a big buyout announcement. This morning, the pharma firm said it has agreed to be acquired by Eli Lilly [LLY] in a deal that could be worth as much as $300 million. Under the terms of the deal, SGTX investors will receive $14.92 for each common share, representing a whopping 279% premium of Wednesday's close price. The deal also includes a non-tradeable contingent value right that could pay an additional $111.64 in cash for each share. Sigilon's board recommended shareholders accept the offer, and the deal is expected to close in Q3. SGTX is up 701.2% on the news! My Take: Holy cow. I don't think I've seen a legitimate 701% buyout rally in quite some time. However, SGTX could be a steal - even at its current price - if that $111.64 CVR is triggered. There could be an opportunity here. Zivo Bioscience [ZIVO] - Last Close: $2.35 Zivo Bio just canceled a registered offering, and shares are soaring. The micro-cap biotech filed a Form RW on Wednesday announcing the cancellation of a previously announced registered offering. Zivo first announced the registration statement on March 22nd, 2023, but it has now officially withdrawn from the planned offering. The company said its withdrawal was "consistent with the public interest and protection of investors." ZIVO is one of today's top premarket stocks with a 16.1% gain. My Take: ZIVO shares could be on course to swing higher if it can maintain its recent momentum. It seems to have found some support at $2.20 per share, so this could be a good entry point. Joby Aviation [JOBY] - Last Close: $8.96 Joby Aviation just landed a big fish. South Korea's SK Telecom just made a $100 million investment in the electric aircraft firm as part of an expanded partnership between the two companies. The companies announced the news this morning, but the agreement was executed on June 27th, 2023. They have been strategic partners since Feb. 2022, but the recent agreement takes the partnership to the next level. Joby is now expected to participate in Korea's K-UAM Grand Challenge, a contest designed to foster the adoption of aerial ride sharing in Korea. JOBY is up 13.8% on news of the $100 million vote of confidence. My Take: This could be a major milestone for JOBY. South Korea is clearly taking the idea of aerial EV transportation seriously. It's a long-shot play, but it could pay off big time if Joby delivers. GainersEco Wave Power [WAVE] >> +54.3%Fangg Networks [DUO] >> +23.6%Lilium [LILM] >> +11.9%Kintara Therapeutics [KTRA] >> +21.7%DeclinersBioXcel Therapeutics [BTAI] >> (66.9%) Greenlane [GNLN] >> (21.0%)CorMedix [CRMD] >> (20.1%)Black Diamond Therapeutics [BDTX] >> (12.5%) Paychex, Inc. [PAYX] ... AM
Msc Industrial Direct Company, Inc. [MSM] ... AM
Acuity Brands, Inc. [AYI] ... AM
The Simply Good Foods Company [SMPL] ... AM
Lindsay Corporation [LNN] ... AM
Greenbrier Companies, Inc. (The) [GBX] ... AM
Nano Dimension Ltd. Dr [NNDM] ... AM
Nike, Inc. [NKE] ... PM
Progress Software Corporation [PRGS] ... PM
Smart Global Holdings, Inc.[SGH] ... PM GDP (revision) [Q1] ... 8:30a Initial jobless claims [Jun] ... 8:30a Pending home sales [May] ... 10:00a | 