| Walt Disney [DIS] - Last Close: $111.78 Disney is moving higher after a strong earnings performance. The entertainment giant reported better-than-expected fiscal Q1 2023 results this morning, sparking a wave of analyst price target increases and bullish volume. Disney's earnings figure topped the Street's estimate, and CEO Bob Iger promised to bring back a shareholder dividend by year-end. The company also unveiled a massive $5.5 billion cost-cutting effort that will include 7,000 job cuts. Disney also promised to push to make its streaming service profitable. It also said that it has no plans to spin off ESPN at the moment. DIS is this morning's top S&P 500 stock with a 6.3% gain on active trading volume. My Take: CEO Bob Iger was a proven winner at Disney, and he's in the early phases of righting the ship. The outlook for this company is bright. . Cardiovascular Systems [CSII] - Last Close: $13.21 Cardiovascular Systems just agreed to a big buyout deal. Abbot Laboratories [ABT] has agreed to acquire the company in a deal valued at $890 million that will pay shareholders $20 per share.
"The acquisition of CSI will add new, complementary technologies to Abbott's leading vascular device offerings," said Abbot's EVP of Medical Devices.
The deal pays a 51% premium over the stock's Wednesday closing price. CSII is one of today's top premarket stocks with a 47.9% gain on the buyout news. My Take: There's not a lot of upside left between CSII's current price and Abbot's acquisition price, so you're probably too late to cash in on this move if you're not already in position. AppLovin [APP] - Last Close: $12.68 AppLovin is moving higher on strong earnings results. The mobile app developer reported its Q4 results after Wednesday's close, and the market likes what it sees. AppLovin reported a quarterly loss of $(0.21) per share, against the consensus EPS estimate of $0.05. However, quarterly sales of $702.31 million beat the Street's $689.86 million target. AppLovin's Q1 revenue guidance of $685 million to $705 million also beat the consensus estimate of $682.17 million. APP is up 30.7% on the better-than-expected revenue figures. My Take: APP had a short percentage of 14.66% as of Jan. 13th, and the stock has been beaten down as of late. Today's surprise beat could be fueling a short-squeeze rebound. Genetic Technologies [GENE] - Last Close: $1.46 Genetic Technologies just announced a big breakthrough. The company announced the publication of a new research paper in peer-reviewed science journal Breast Cancer Research and Treatment. Genetic Tech said the paper highlights its geneType platform's ability to detect breast cancer earlier and provide data for risk stratification. The study results provide further clinical validation for the breast cancer risk score component of the Comprehensive Breast and Ovarian HBOC Risk Test. The use of geneType could improve uptake of risk-reducing medication, potentially resulting in a significant reduction in the incidence of breast cancer. The promising findings pushed GENE to a 21.9% gain ahead of today's opening bell. My Take: GENE could be on to something here, but it's still unclear whether the company can translate the clinical potential into commercial success. GainersHempacco Co [HPCO] >> +69.5%Gravity Co [GRVY] >> +22.5%Freightos [CRGO] >> +17.6%DeclinersTivic Health [TIVC] >> (50.0%)Revelation Bioscience [REVB] >> (28.1%)Vintage Wine Estate [VWE] >> (25.0%) AbbVie Inc. [ABBV] ... AM
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