Futures falter on weak China data 📉

U.S. benchmarks closed Tuesday with mixed results. The Dow edged 0.1% lower, while the S&P 500 closed flat. The Nasdaq led with a 0.3% gain, and the small-cap Russell 2K fell 0.3%.

Index futures are in the red in early-morning trading today. Dow and S&P 500 contracts are both down 0.2%.

Growth Boom 2.0 🚀

It's been a rough few months for the market, but this slowdown could be the prelude to one of the greatest growth booms in history.

And now could be an excellent time to start snatching up select assets at dirt-cheap prices.

Get the Details Here

🚨 China's Economy Flashes Warning Sign

Economic data for May showed a notable contraction in Chinese factory activity and slowing services activity, dashing investors' hopes that the world's second-largest economy would rebound quickly after reopening from its years-long pandemic lockdown.

China's slow start could have a significant impact on global growth in 2023 and beyond. The news soured investor sentiment and sent U.S. index futures lower in today's premarket.

LL Flooring has received a non-binding acquisition proposal.

The offer came in late Tuesday from F9 Brands unit Cabinets To Go, and it proposes to acquire the flooring firm for $5.76 per share.

The bid represents a 39% premium to LL's Tuesday closing price.

LL Flooring said its board would review the proposal carefully to determine the best path forward for shareholders.

LL is up 19.5% on the news.

My Take: There's still some potential upside left in this deal, so keep an eye on LL today ahead.

Marker Therapeutics is running hot after a clinical update.

The company said it believes MT-601 may result in durable responses in lymphoma cells due to its ability to target multiple antigens.

Data from a TACTAL study showed the drug recognize cancer cells using up to five antigens and continue to kill even when the cancer cells morph.

The promising clinical data rallied MRKR to a 23.3% gain in today's premarket.

My Take: MRKR appears to be making a comeback after bottoming out in April, and this news can only hope. This tiny stock will be volatile, but it could have significant upside if this drug makes it to market.

Vistagen is moving higher after an announcement.

After Tuesday's close, the biopharma firm said it will share new clinical data from a Phase 3 study of fasedienol (PH94B) at an upcoming conference.

Vistagen will present safety and exploratory efficacy data from an open-label Phase 3 study of fasedienol nasal spray in adults with social anxiety disorder.

The company will present the data today at 11:15 a.m. ET at the American Society for Clinical Psychopharmacology 2023 annual meeting in Miami.

Shares of VTGN are up 49.1% in anticipation of the upcoming clinical data release.

My Take: VTGN's announcement is sure to drive extra volatility in this stock today, and it could open the door to many potential opportunities.

Trevena [TRVN] - Last Close: $1.16

News of a big cash windfall is lifting shares of Trevena.

This morning, the biopharma firm reported the receipt of a $3 million milestone payment as a result of the Chinese approval of OLINVYK® (oliceridine) injection.

The payment came from Jiangsu Nhwa Pharmaceutical Co., holder of an exclusive license to develop, manufacture, and commercialize OLINVYK in China.

Trevena can also receive $15 million non-dilutive financing from R-Bridge upon the first commercial sale in China, which is expected to occur in Q3.

TRVN is up 22.4% on news of the milestone payment.

My Take: TRVN could be on track to receive more milestone payments from OLINVYK, which could result in more rally catalysts for the stock.

Crowdstrike Holdings, Inc. [CRWD] ... AM
Donaldson Company, Inc. [DCI] ... AM
Advance Auto Parts Inc. [AAP] ... AM
Capri Holdings Limited [CPRI] ... AM
Salesforce, Inc. [CRM] ... PM
Veeva Systems Inc. [VEEV] ... PM
Netapp, Inc. [NTAP] ... PM
Okta, Inc. [OKTA] ... PM
Chewy, Inc. [CHWY] ... PM
Pvh Corp. [PVH] ... PM