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- Friday Finale: Stocks Look to Finish Strong📈
Friday Finale: Stocks Look to Finish Strong📈
Futures are flat in the premarket, as U.S. stock seek to extend their hot streak into the weekend...
Chris Dinello
January 26, 2024
Good Morning!
It's Chris from Elite Trade Club, here to give you this morning's premarket trading news.
Let's get ready to trade!
Markets 📈
Stocks edged higher on Thursday, with small-caps leading the charge higher.
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Futures are flat in early morning trading. Dow contracts are down slightly, but S&P 500 futures are currently even.
Today, we are inviting you to take a free peek at MarketBeat's proprietary, exclusive list of 7 Stocks to Buy and Hold Forever.
Many of these companies might appear to be nothing special at first glance.
Others might be names you had heard of before and decided to pass on, but financials don't lie.
The companies on this list print billions of dollars of cash each year in profit showing no sign of slowing down.
If you haven't given these companies strong consideration for your portfolio, now is the time to take a look.
Premarket Highlights 🔎
🏦 JPMorgan's Executive Carousel: The Race to Succeed Jamie Dimon
In the latest twist in the saga at JPMorgan Chase [JPM], the bank announced major changes in its top brass, fueling the ongoing speculation about who's next in line to take the helm from CEO Jamie Dimon.
✨ Leadership Shuffle Sparkles with Speculation
Jennifer Piepszak, once co-piloting the consumer bank, takes off to co-head the commercial and investment bank with trading ace Troy Rohrbaugh.
Marianne Lake, Piepszak's former co-head in consumer banking, steps up as the solo captain of the ship.
🔦 Spotlight on Successors
The race to the top gets more interesting with Piep szak and Lake, both seen as front-runners, gaining new turf to conquer. With Dimon's retirement playing hide-and-seek (always rumored, never realized), the succession plot thickens.
🔄 Musical Chairs
Inside JPMorgan, the joke goes that Dimon's exit is like a mirage – always on the horizon but never quite there. The constant delay has seen many heirs apparent taking their ambitions elsewhere.
🔮 Who’s Next?
Apart from Lake and Piepszak, the potential successor circle includes big names like Takis Georgakopoulos and Troy Rohrbaugh. The latest reshuffle shakes up the bank's structure, merging divisions and putting new faces in key positions.
⏰ Dimon's Countdown
Everyone's wondering: When will Jamie Dimon pass the baton? For now, JPMorgan's game of thrones continues, with each move closely watched by Wall Street's keenest eyes.
Featured Earnings 💲
American Express [AXP] ... AM
Colgate-Palmolive [CL] ... AM
Norfolk Southern [NSC] ... AM
First Citizens BancShares [FCNCA] ... AM
Booz Allen Hamilton [BAH] ... AM
Autoliv [ALV] ... AM
Gentex [GNTX] ... AM
Badger Meter [BMI] ... AM
First Hawaiian Bank [FHB] ... AM
BankUnited [BKU] ... AM
Economy 🏗
Personal income [Dec] ... 8:30a
PCE index [Dec] ... 8:30a
Pending home sales [Dec] ... 10:00a
Running Hot 🔥
Gainers
Inspire Veterinary [IVP] >> +142.1%
Jaguar Health [JAGX] >> + 20.2%
Ucommune Intl. [UK] >> +21.6%
Decliners
Onconetix [ONCO] >> (30.1%)
Acutus Medical [AFIB] >> (19.5%)
C3is [CISS] >> (14.5%)
Panbela Therapeutics [PBLA] - Last Close: $3.25
This tiny biotech just announced it had exceeded 50% enrollment for its ASPIRE global clinical trial in metastatic pancreatic cancer patients.
Panbela CEO Jennifer Simpson said the company expects full enrollment t be achieved by Q1 2025.
PBLA is up 61.2% on nearly 4 million shares traded.
My Take: PBLA has had a rough run lately, but volume has spiked in recent days. It could be a sign that a turnaround is coming.
ParaZero [PRZO] - Last Close: $0.6751
Drone technology firm just announced it has been awarded a light UAS operator certification in Denmark.
The approval certificate was granted by the EU Aviation Safety Agency, and it allows for cross-border travel in the bloc without additional approvals.
PRZO is a top mover with a 45.5% gain on just shy of 7 million shares traded.
My Take: PRZO has been trading sideways for most of the month, but this news could help it get back on track. It also had an elevated short rate of 9.14% as of Dec. 29th.
Cyngn [CYN] - Last Close: $0.2150
The high-tech autonomous driving tech firm is rallying after a press release announcing its next-gen DriveMod kit will harness NVIDIA AI computers.
Cyngn said it will begin switching away from intel CPUs to NVIDIA’s advance chips across its entire DriveMod lineup.
The company said the new chips will enhance efficiency & capability in its vehicles, while concurrently reducing production costs.
CYN is a top mover with a 25.4% gain on almost 9 million shares traded.
My Take: CYN has experienced a huge volume spike in recent days. This catalyst could give it the push it needs for a more sustained break out.
Aclarion [ACON] - Last Close: $1.86
Healthcare tech company Aclarion is reversing course after a long slide, despite no obvious catalyst for the mover.
Earlier this week, Aclarion announced a securities purchase agreement with accredited investors, sparking a sharp sell-off.
Coming into today’s session, ACON was down 46.7% over the past 10 days. However, the slide may have hit its bottom because shares are soaring today
ACON is up 113.9% on nearly 7 million shares traded.
My Take: ACON move could be the result of a short squeeze. The stock had a 42.09% short rate as of Dec. 29th.
That's it for today! Thanks for reading, and good luck out there!
Best Regards,
— Chris D.
Elite Trade Club
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