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4 Active stocks to watch today
Futures are flat in early trading, but a few stocks are pulling ahead in the premarket.
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 ended last week with a lackluster performance, with most indexes ending the session close to where they began. The Nasdaq was the day’s lone loser after posting big gains earlier in the week.
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Futures are sitting near flat in early trading. S&P 500 contracts are currently up by less than 0.1%.
What to Watch Today:
Earnings will be on the top of the docket today, but it’s a pretty sparse schedule. Domino’s Pizza will report in the premarket, along with Fidelity Natl. Information Services. After the close, we’ll hear from Zoom Video, Workday, Unity Software, and others.
This catalyst has happened exactly three times before... on November 28, 2012, July 9, 2016, and May 11, 2020.
And on those three occasions, those who understood what was going on had the chance to collect gains ranging from 8,616%... to 12,280%... all the way up to 330,000%! In just 18 months or less.
Now, trends indicate the next run-up could be right around the corner, and this one could be the biggest one to date.
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Premarket Highlights 🔎
🎩 Buffett's Bonanza: Berkshire's Earnings Beat
Wake up, investors! It's Christmas in March for Berkshire Hathaway enthusiasts.
Over the weekend, Warren Buffett, the Oracle of Omaha himself, delivered a financial feast that has the market buzzing faster than a bee in a bottle of Coke.
Berkshire Hathaway's earnings soared past expectations, catapulting Class B shares up by as much as 5% in the pre-dawn trading frenzy. Lately, they've settled in for a cozy 1.7% uptick.
🔍 Earnings Highlights
Diving into the details, here's what made Buffett's latest shareholder letter more eagerly awaited than the season finale of your favorite show:
Operating earnings? They didn’t just walk; they sprinted 28% to a cool $8.48 billion, leaving Wall Street's estimates eating dust.
Berkshire’s piggy bank is overflowing, with cash reserves ballooning to a record-smashing $167.6 billion, up from $157 billion just a quarter ago.
A roll of the dice on Japanese trading houses netted a handsome $8 billion gain by year-end. Who says old dogs can’t learn new tricks?
At the close of 2023, Berkshire's net worth stood at a staggering $561 billion, according to the gospel of GAAP accounting.
📈 The Berkshire Bounce
With Berkshire Hathaway's Class A and B shares leaping 16% and 17% this year, respectively, they're sprinting ahead of the S&P 500, which seems to be jogging in place with a 7% gain.
It's clear Buffett's conglomerate—boasting a treasure trove from insurance and utilities to stakes in Coca-Cola, American Express, and Occidental Petroleum—is more electrifying than ever.
So, as the market gears up for another day, Berkshire Hathaway shares are not just rising; they're setting the pace, proving once again that when it comes to making money, Buffett's empire is in a class of its own.
Featured Earnings 💰️
Fidelity National Information Services [FIS] ... AM
Public Service Enterprise [PEG] ... AM
Domino's Pizza [DPZ] ... AM
Workday [WDAY] ...PM
Oneok [OKE] ... PM
Heico [HEI] ... PM
SBA Communications [SBAC] ... PM
Zoom Video Communications [ZM] ... PM
Erie Indemnity [ERIE] ... PM
Unity Software [U] ... PM
Economy 🏗
New home sales [Jan] ... 10:00a
Running Hot 🔥
Gainers
MicroCloud Hologram [HOLO] >> +70.6%
AltImmune [ALT] >> +19.6%
Genetic Technologies [GENE] >> +18.0%
Decliners
Astaclear [ATCH] >> (26.2%)
Intuitive Machines [LUNR] >> (23.2%)
Thermogenesis [THMO] >> (32.0%)
Freight Tech [FRGT] - Last Close: $2.08
The parent company behind the Fr8App freight & logistics app just announced a new collaboration with Envases Universales.
Freight Tech said its Fr8App was awarded key routes through Evases’ annual 2024 RF.
Over the next 12 months, the awards could be worth upwards of $5 million and encompass 24 dedicated lanes, mostly from Mexico to the United States.
FRGT is up 21.1% on over 8 million shares traded.
My Take: FRGT’s announcement has some actual substance too it, and its chart shows that its recent downtrend could be bottoming out.
Interactive Strength [TRNR] - Last Close: $0.64
This tiny stock just announced an exclusive worldwide distribution agreement with WOODWAY USA to sell and distribute its CLMBR product.
Under the terms of the deal, WOODWAY will place an initial purchase of 2,150 units for an expected net proceed of $7 million for Interactive Strength.
TRNR is leading with a 96.9% gain on roughly 7 millions shares traded.
My Take: This could be a breakout deal for TRNR, but this is a micro-cap stock so expect volatility.
Ascent Solar Tech [ASTI] - Last Close: $0.6078
Ascent Solar just landed a game-changing deal to fly space solar modules on NASA’s upcoming LISA-T mission scheduled for Summer 2024.
The NASA mission will “demonstrate the capability to deploy large-area arrays on lightweight, low-cost and small spacecraft.”
Financial arrangements weren’t disclosed, but ASTI is up 38.2% on over 9 million shares traded so far.
My Take: A buzz is building around the space sector, and ASTI is cashing in on the momentum with this news. However, this tiny stock might not be able to sustain these gains.
Zyversa Therapeutics [ZVSA] - Last Close: $0.8010
After publishing a new white paper highlighting therapeutic opportunities for neurological diseases last week, Zyversa is surging in today’s premarket.
The white paper was published last Thursday morning, and it discussed the role of inflammasomes and ASC specks in neurological diseases.
Zyversa also provided data supporting its inflammasome ASC Inhibitor IC 100 as a potential therapeutic option.
ZVSA closed out last week with a 29.1% gain on Friday, and it’s up 89.7% on more than 17 million shares traded in today’s premarket.
My Take: ZVSA seems to be having a bit of delayed reaction to last week’s white paper, but there are no other obvious catalysts to explain the stock’s sudden run-up.
That's it for today! Thanks for reading, and good luck out there!
Best Regards,
— Chris D.
Elite Trade Club
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