The market gave investors a better entry on a company that just beat earnings and showed stronger volume trends. Add in a major index change and a new prediction-market project, and today’s setup leans more constructive than cautious.
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Futures at a Glance📈
Futures are trying to steady after another rough day for tech. Nasdaq futures are getting a small bounce, but memory chip names remain the pressure point after Micron and South Korea’s SK Hynix dragged the AI trade lower. Oil and yields are easing, which gives traders some breathing room, but the mood is still cautious after the global tech shakeout.
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What to Watch
Earnings (Premarket):
• Paychex, Inc. [PAYX]
• Novagold Resources Inc. [NG]
• Daktronics, Inc. [DAKT]
Earnings (Aftermarket):
• Micron Technology, Inc. [MU]
• Trip.com Group Limited [TCOM]
• Jefferies Financial Group Inc. [JEF]
• H. B. Fuller Company [FUL]
• Worthington Steel, Inc. [WS]
• MillerKnoll, Inc. [MLKN]
Economic Reports:
• New Home Sales (May): 10:00 am
• Federal Reserve Board releases annual bank stress test results: 4:00 pm
Elite Trade Club Insider
$31 Million In Insider Selling Just Hit Two Momentum Stories
You’re watching two familiar growth trades from the outside, where strong options activity and bullish sector narratives can make the next move feel obvious. But Elite Trade Club Insider readers are seeing the part the crowd usually catches late: top executives are turning recent strength into cash while investors are still focused on the upside case.
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Logistics
FedEx Corp Looks Buyable After the Earnings Dip
FedEx Corp (NYSE: FDX) delivered a strong fiscal fourth quarter, but the stock fell more than 6% after hours. That kind of reaction looks too harsh for the numbers.
Adjusted earnings came in at $6.31 per share, ahead of the $5.96 analysts expected. Revenue was $25.01 billion, also above expectations of $24.04 billion.
The quarter was important because it was the last one that included FedEx Freight before the unit became a separate publicly traded company on June 1. FedEx Freight also paid a roughly $4.1 billion cash dividend to FedEx Corporation tied to the spinoff.
The core business showed real strength. FedEx Express revenue reached $21.57 billion, above estimates, while domestic volume rose 3% year over year. U.S. priority volume also increased 3%.
There are still pressures. Fuel costs jumped 66% from last year, rising to $1.43 billion. But management said demand has not been hit by higher fuel prices, and U.S. pricing rose 10%.
For the full year, FedEx expects 11% revenue growth and adjusted diluted earnings per share of $16.90 to $18.10. At around 17x earnings, the stock still looks reasonable if the post-freight business keeps executing.
My Take For You: FedEx’s after-hours drop looks more like a reset than a warning, especially after a clean earnings beat and stronger volume trends.
My Verdict: Buy this. The risk is that fuel costs keep rising and the post-spinoff business loses momentum without the freight segment.
Mega-Cap Tech
Alphabet Inc Just Got a Blue-Chip Visibility Boost
Alphabet Inc Class A (NASDAQ: GOOGL) is joining the Dow Jones Industrial Average, replacing Verizon. The move gives the Google parent a higher-profile spot in one of the market’s most-watched indexes.
This does not change Alphabet’s business overnight. But it does reinforce how central the company has become to artificial intelligence, cloud infrastructure, search, and digital advertising.
S&P Global said Alphabet’s addition would increase the Dow’s exposure to AI, cloud, and advertising. It also puts Alphabet beside Nvidia, Amazon, Apple, and Microsoft inside the blue-chip index.
The timing is interesting. Alphabet has been volatile recently, even after a strong spring rally and better-than-expected results driven by cloud revenue. Investors are watching whether its heavy AI spending turns into real returns.
That spending is large. Alphabet has raised $141 billion in debt and equity since October as it tries to prove its vertically integrated AI stack can compete at scale.
The stock is not cheap after a 109% gain over the past year, but it trades around 26x earnings. For a company with Alphabet’s cloud, AI, search, and advertising assets, that valuation is still defendable.
My Take For You: Alphabet’s Dow addition is not the whole thesis, but it supports the case that this remains a core mega-cap tech name with AI and cloud upside.
My Verdict: Buy this. The risk is that AI spending keeps rising faster than investors can see the payoff.
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Social Platforms
Meta Platforms Is Testing a Prediction Markets Angle
Meta Platforms Inc (NASDAQ: META) is reportedly building a prediction markets app called “Arena.” The app is expected to sit outside Facebook and Instagram, but Meta would use those platforms to direct users toward it.
The first version is not expected to use real money. Reports say it will rely on a video game-style points system, though real-money features could come later.
That makes this more optionality than an immediate revenue driver. But Meta has something most prediction-market platforms do not: distribution. Facebook and Instagram give the company a massive funnel if it decides to push the product.
The market noticed. DraftKings and Flutter fell after the report, while Robinhood also declined. That reaction shows investors understand how disruptive Meta’s reach could be if the company moves deeper into event-based trading or prediction-style engagement.
The opportunity is not just sports. Prediction markets can cover politics, entertainment, culture, finance, and live events. That fits Meta’s strength in social behavior and user attention.
Meta stock is down nearly 20% over the past year and trades around 20x earnings. That is not demanding for a company with a large ad business and another possible engagement layer.
My Take For You: Meta’s prediction markets app is early, but the company has the user base to turn a side project into a serious engagement product.
My Verdict: Buy this. The risk is that regulation, app-store limits, or a weak points-based launch keep the product from becoming a real business.
Trivia: Share buybacks have become one of the most common ways companies return capital to shareholders — but critics argue they can be abused. Which year saw U.S. companies repurchase the most shares on record?
Movers and Shakers
Quantinuum [QNT]: Premarket Move: +4%
Quantinuum is rising again after being named as a key collaborator in HPE’s hybrid quantum push alongside Intel and Rigetti. The partnership puts QNT deeper into the quantum hardware and control-stack ecosystem, which is exactly where investors want exposure.
The stock already had momentum before today. QNT ran from around $55 on June 16 to roughly $77 by June 23, with strong buying pressure and repeated closes near the top of the range. That kind of action tells you traders are still paying up for quantum-computing winners.
My Take: Stay with the trend, but buy pullbacks instead of chasing the open. The HPE partnership strengthens the story, but quantum stocks move violently when momentum cools.
Wendy’s [WEN]: Premarket Move: +12%
Wendy’s is surging after leadership changes and retail-trader interest turned the beaten-down fast-food name into a short-squeeze candidate. The company named Steve Cirulis as CFO and chief strategy officer, while traders latched onto the stock’s low valuation, high dividend yield, and heavy short interest.
The squeeze setup is real. Short interest sits near 26.4%, and the stock had fallen almost 40% over the past year before touching a 20-year low. But the business backdrop is still rough: global sales fell 5.5% in Q1, while U.S. same-store sales dropped 7.8%.
My Take: Trade the squeeze, but do not confuse it with a turnaround yet. WEN can keep running if shorts cover, but weak sales mean this is a tactical trade until management proves the reset is working.
Cerebras Systems [CBRS]: Premarket Move: −14%
Cerebras is getting hit despite reporting 92% year-over-year revenue growth in its first earnings report since going public. Revenue came in at $193.4 million, ahead of estimates near $181 million, and its net loss narrowed to $14 million from $23.9 million a year ago.
The problem is valuation. CBRS still trades at a massive premium, with a market cap near $50 billion and a P/E above 550x. The company has real AI-chip momentum, including AWS integration and a major OpenAI compute deal, but the stock already had a huge IPO run and investors are no longer giving every AI name a free pass.
My Take: Do not buy the drop at the open. The business is growing fast, but the valuation is still too rich for a stock breaking down after earnings.
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SPCX may have been the headline trade, but the cleaner setup could be in the supplier chain behind Musk’s AI empire.
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Everything Else
🏦 The market’s leadership bench is getting deeper, as investors start looking for the companies that could take over when the current giants slow down.
🕶️ Meta’s new smart glasses start at $299, giving the company another shot at making wearable AI feel mainstream.
🔎 Google’s online dominance is showing fresh cracks as AI starts changing how people find information online.
🧠 An AI memory startup raised $98 million as companies look for ways to cut token costs.
🎮 GameStop’s CEO is giving up a performance award as the company tries to keep its turnaround story cleaner.
📱 Samsung is reportedly planning a 90 trillion won share buyback, adding a major shareholder-return angle to the chip recovery.
That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.
Best Regards,
— Adam Garcia
Elite Trade Club
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