Futures dip as earnings roll in 📉

Good Morning! 

It's Chris from Elite Trade Club, here to give you this morning's premarket trading news.

Today is Tuesday, November 28th. I hope you have a great day.

Now, let's get ready to trade!

Markets 📈

Stocks stumbled in their return from the holiday weekend on Monday. The S&P 500 lost 0.2%, the Dow edged lower by 0.1%, and the Nasdaq declined by less than 0.1%. The small-cap Russell 2K fell 0.3%

Today, futures are down again in the premarket. S&P 500 contracts are down 0.2% at the moment.

Sponsored

ALERT : Explosive Swing Trade Setup 💥

A tiny stock with a growing position in a high-octane growth industry could be on the verge of a massive move higher.

An in-depth technical analysis found this up-and-coming ticker could have potential to achieve intermediate target gains of up 113.3% from its current position.

There are also signs that volume is beginning to release from the accumulation phase, so a big breakout could be coming soon.

With increasing volatility and enormous upside potential, this stock could be on course for an explosive rally higher in the coming days.

Get a Detailed Report on this Promising Stock Here

Premarket Highlights 🔎

📃 Black Friday Report Card

Initial readings on Black Friday 2023 are getting a mixed reception from the market. Mastercard’s Spending Pulse reported a 2.5% jump over last years BF spending.

📈 A Modest Uptick

Although spending increased, it was not a sizeable enough spike to move the needle for most major retailers. Brick-and-mortar retailers like Target and Best Buy didn’t perform so well.

🖱 Leaning Digital

However, the market seemed to favor eCommerce stocks on Monday. Shopify jumped by nearly 5.0%, and buy-now-pay-later lender Affirm saw a whopping 12% gain.

🔍 TBD

The true scope of this year’s Black Friday sale won’t be revealed until companies start reporting their Q4 numbers, but, for now, it looks like it wasn’t exactly the blowout sales spike retailers were hoping for.

What to Watch Today 🔍

Tech Earnings

Earnings season is drawing down, but we still have some stragglers. Today, we’ll hear from a few notable tech stocks, including Workday, Crowdstrike, Splunk, Intuit, and Hewlett Packard. These earnings report will shed some light on the state of the cloud computing and cyber security sectors, both of which are largely driven by business spending. Any slowdowns could be a sign that a demand problem is brewing in the B2B services sector.

Featured Earnings 💲

• PDD Holdings [PDD] ... AM

• Intuit [INTU] ... PM

• Workday [WDAY] ... PM

• CrowdStrike Holdings [CRWD] ... PM

• Splunk [SPLK] ... PM

• Hewlett Packard Enterprise Company [HPE] ... PM

• NetApp [NTAP] ... PM

• The Azek Company [AZEK] ... PM

• Fluence Energy [FLNC] ... PM

• Alvotech [ALVO] ... PM

• Leslie's [LESL] ... PM

Gainers

• Wheeler REIT [WHLR] >> +29.9%

• Riskon Intl. [ROI] >> +17.7%

• Saverone 2014 ADR [SVRE] >> +14.2%

Decliners

• Tharimmune [THAR] >> (69.8%)

• SenesTech [SNES] >> (38.3%)

• Bright Health Grp. [BGLC] >> (13.8%)

PDD Holdings [PDD] - Last Close: $117.72

This morning’s hottest earnings trade is PDD Holdings.

The Chinese online retailer is on a tear after reporting its Q3 earnings results early this morning.

PDD reported EPS of CNY¥11.61 marked a 34.6% increase from a year ago, and crushed analysts’ CNY¥8.39 consensus estimate.

Revenues jumped by a whopping 93.9% YoY to CNY¥68.84 billion for the quarter, also steamrolling the Street’s CNY¥53.77 billion target.

PDD is this morning’s top earnings trade. It’s up 15.6%, and it’s the most actively-traded Nasdaq-100 stock in today’s premarket.

Avidity Biosciences [RNA] - Last Close: $6.16

A new deal with a powerful partner is boosting shares of Avidity Bio.

This morning, the tiny biotech announced a licensing deal with Bristol Myers Squibb [BMY] that could be worth up to $2.3 billion.

Under the “global licensing and research collaboration,” the companies will develop and commercialize “multiple cardiovascular targets.”

The deal breaks out into a $100 million upfront payment consisting of $60 million cash & a $40 million equity investment at $7.88 per share.

Avidity could also qualify for up to $1.35 billion in R&D milestones and $825 million in commercial milestone payments.

RNA is one of this morning’s top performers with a 30.6% gain on elevated trading volume.

RedHill Biopharma [RDHL] - Last Close: $0.3155

RedHill Bio is on our list for the second day in a row.

This tiny biotech continues to run hot after the FDA granted it a 5-year U.S. market exclusivity for Talicia® under a special approval for antibiotics.

The ruling, which extends RedHill intellectual property protection until 2034, sparked a massive 216.9% rallly in shares of RDHL on Monday.

Despite no new developments hitting the newswires, RDHL continued to climb in Monday’s after-hours session, and now its running strong in the premarket.

RDHL is up 19.0%, and it’s one of this morning’s highest-volume movers.

SMX Security Matters [SMX] - Last Close: $1.15

A big announcement is lifting shares of SMX.

This morning, the company announced the planned launch of the world’s first plastic cycle token, slotted for release in Q2 2024.

According to a company press release, “this initiative … present[s] a reliable, ethical digital credit platform, aiming to capitalize on billions of dollars in recyclable plastics credits in a newly created market.”

The company hopes that the plastic cycle token will become a next-gen alternative to carbon credits that will advance the ESG investment landscape.

SMX is a top movers with a 24.0% gain on active volume.

That's it for today! Thanks for reading, and good luck out there!

Best Regards,

— Chris D.
Elite Trade Club

Text ELITE to 47121 or click here to get our alerts on your mobile device, and never miss another fast-moving stock!

P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP.