| | | July 27, 2022 Hey traders! It's Michael here with the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Today is Wednesday, July 27th. Let's get ready to trade! |
The S&P 500 tumbled 1.2% on Monday, while the Nasdaq sold off for 1.9%. The Dow and small-cap Russell 2K fared slightly better, with only a 0.7% loss on the day. Today, futures are on the rise ahead of the opening bell. S&P 500 futures are up 0.9%. Premarket Highlights The Fed will announce its interest rate policy for July in today's session. Investors are expecting a 0.75% rate hike, but some rumors say the Fed could raise rates by as much as 1.0%. Twitter scheduled a shareholder vote on Elon Musk's $44 billion takeover bid on Sept. 13th. Musk pulled out of the deal on July 8th, but Twitter is attempting to force the transaction. PayPal is rallying after a WSJ report revealed activist investor Elliot Management has built a stake in the company. Enphase Energy [ENPH] - Last Close: $216.10 Better than expected earnings are rallying shares of Enphase this morning. The energy company posted second-quarter EPS of $1.07 and beat Wall Street's $0.85 EPS estimate by a healthy margin. Revenues of $530.2 million also breezed past the Street's $505.4 million target. Enphase's Q3 guidance was also higher than analysts expected. The firm expects to earn $590 million to 630 million in Q2, but analysts only called for $549.4 million.
ENPH is leading the S&P 500 on the heels of its strong quarterly report. Shares are up 9.2%.
Our Take: Enphase is slowly trending higher, but this upbeat earnings report could be the catalyst it needs to break out. This could be a good swing trade target. PayPal [PYPL] - Last Close: $77.04 PayPal is trending on news it's being target by a prominent activist investor. An exclusive report from The Wall Street Journal revealed Paul Singer's Elliot Management has built a position in the struggling payment processing stock, according to people familiar with the matter. The sources didn't reveal any specifics regarding the size of Elliot's stake or its intentions for the company, but the news is already generating a buzz among investors. Elliot has more than $50 billion under management and has previously pursued successful activist bids at prolific companies like AT&T, Twitter, and Pinterest. PYPL is one of the S&P 500's top stocks with a 6.5% gain. Our Take: PYPL is starting to look attractive. It's P/E is getting more reasonable - although its still elevated - and this Elliot Investor bid could help the company break out of its recent funk. It could be a good time to jump in this one. Blue Water Vaccines [BWV] - Last Close: $2.05 ð¥ Monkeypox hysteria is lifting shares of Blue Water Vaccines in today's premarket. Growing fears surrounding the spread of monkeypox in the US is driving investors towards biotech stocks that are actively working on vaccines. Blue Water Vaccines has several vaccines in its portfolio and even more in its pipeline. Details are scant as to which vaccine could have potential as a monkeypox treatment. The stock also hasn't released any noteworthy press releases as of late, yet shares are rallying along with the rest of the monkeypox vaccine stocks. GOVX (+13.5%) also seems to be moving higher as investors try to position themselves for a monkeypox vaxx boom, but BWV is leading the pack with a 69.2% gain on active trading volume.
Our Take: The reason investors are targeting this stock is unclear at the moment, but I suspect it may have something to do with the general rally around monkeypox stocks. Teva Pharmaceutical Industries Ltd [TEVA] - Last Close: $1.48 Teva Pharmaceutical is heating up after a strong earnings report. On Tuesday evening, the generic medicines firm posted a double-line beat on its Q2 earnings report. Teva generated EPS of $0.68 per diluted share to beat the Street's $0.56 pert share target. Revenues of $3.79 billion narrowly topped analysts' expectation of $3.78 billion. Teva's full-year earnings and revenue guidance fell in line with the Street's estimates. News of the strong quarter is lifting TEVA to a 24.7% gain, and it's one of today's most active stocks. Our Take: Teva is attempting to breakout of a year-long downtrend, and this report could help, if the company can keep up the momentum. Last quarter, TEVA missed analysts' EPS targets by $0.01. |
| Gainers Dave [DACE] >> +49.5% Ebang Intl [EBON] >> +11.4% GeoVax Labs [GOVX] >> +12.9% Decliners ObsEva SA [OBSV] >> (73.9%) Cassava Sciences [SAVA] >> (24.0%) Panbela Therapeutics [PBLA] >> (16.8%) Bristol Myers Squibb [BMY] ... AM TMobile US [TMUS] ... AM Boeing [BA] ... AM Automatic Data Processing [ADP] ... AM CME Group [CME] ... AM SherwinWilliams [SHW] ... AM Meta Platforms [META] ... PM Qualcomm [QCOM] ... PM ServiceNow [ NOW] ...PM Lam Research [LRCX] ... PM |
| Durable goods orders [June] ... 8:30a Pending home sales index [June] ... 10a |
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