| | | November 9, 2023 Hey traders! It's Michael here with the Stock Dork Cheat Sheet: Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Today is Thursday, November 9th. I hope you have a great day. Now, let's get ready to trade! |
| Stocks posted another mixed performance on Wednesday. The S&P 500 added 0.1%, while the Dow lost 0.1%, and the Nasdaq gained less than 0.1%. The small-cap Russell 2K extended its slump with a 1.1% sell-off. Today, futures are edging higher in early premarket trading. S&P 500 contracts are up by about 0.1%. These AI Stocks Have Explosive Potential 💥 With AI's predicted surge to $2 trillion in just 7 years, now might be the prime time to invest. Don't miss out on our Top 5 AI stock picks for monumental growth. Get the Full Briefing Here 🌱 No IPO Harvest for Syngenta This YearSyngenta, a heavyweight in the seeds and pesticides arena, has hit the brakes on its anticipated Shanghai IPO, citing less than ideal market weather conditions. Big Buyout Backstory: Flashback to 2017—ChemChina signs a hefty check for $43 billion to acquire Syngenta. Since then, the Swiss agrichemical firm has been plotting its market debut. Big Plans, Bigger Delays: They've been eyeing the IPO field since 2021, looking to plant about $8.93 billion—a figure that would have crowned it the IPO king of the year, according to Dealogic's ledger. Waiting it Out: With the market playing hard to get, Syngenta's big day is on hold. They're waiting for the financial climate to change, hoping for sunnier days ahead for what could be a record-breaking public offering. |
Disney [DIS] - Last Close: $84.50 Disney is trending in the wake of its recent earnings report. The media giant reported its fiscal Q4 results after Wednesday's close, and the report is getting a warm reception from the market.
Disney reported EPS of $0.82, more than double last year's $0.30 Q4 EPS, and topped the consensus of $0.71. On the other hand, revenues of $21.24 billion missed the Street's $21.41 billion target. Disney said it expects that its combined streaming businesses will reach profitability in the fourth quarter of fiscal 2024. DIS is leading the S&P 500 with a 4.4% gain. My Take: DIS still has some work to do, but share prices could find new support at the $85 mark after today's move higher. Carbon Revolution [CREV] - Last Close: $55.89 Carbon Revolution has been very volatile this week The advanced tire maker has experienced wild swings since completing its SPAC merger with Twin Ridge Capital Acquisition earlier this week. After the SPAC business combination closed, CREV saw massive gains in its first two days of trading. However, the trend has since reversed course, and CREV is coming off back-to-back losses on Tuesday and Wednesday. Now, the tables are turning again. CREV is one of today's top stocks, with a 25.1% gain. My Take: Even after its recent losses, CREV is still up 610% over the past 5 days. CREV is trading like a battleground stock, but the bulls appear to be winning the war. Astra Space [ASTR] - Last Close: $0.74 Astra Space's founders are making a move to take control of the company. This morning, an 8-K disclosure revealed the space firm's founders have made an offer to acquire the remainder of the company for $1.50 per share. The all-cash tender offer represents a 103% premium compared to the stock's latest closing price. The founders, Chris Kemp and Adam London, delivered their proposal to the Board of Directors yesterday, and the company is still weighing the decision. The disclosure stresses that there's no guarantee the offer and subsequent negotiations will result in a deal. ASTR is up 60.8% on reports of the offer. My Take: This deal is still up in the air, so there is still a decent gap between its current price and the proposed acquisition price. If you're willing to be this deal goes through, its current price could be an attractive entry point. Intelligent Bio Solutions [INBS] - Last Close: $0.2270 Strong earnings are rallying shares of Intelligent Bio.
The micro-float biotech is surging despite posting a weaker-than-expected quarterly report Wednesday evening. Intelligent Bio reported a loss of $(1.04) per share and missed the consensus estimate of a $(0.64) per share loss. Revenues of $109,870 also missed the Street's $950,000 target. For whatever reason, INBS is rallying on this news. It's currently the morning's top stock with a 57.5% gain. My Take: INBS could be getting a boost from a target short squeeze. It's entire float only adds up to $1.04 million, so it doesn't take much to move this stock. GainersJanone [JAN] >> +43.3%Zyversa Therapeutics [ZVSA] >> +17.6%Carrols [TAST] >> +18.9% DeclinersAtara Biotherapeutics [ATRA] >> (51.6%) Onemednet Corp [ONMD] >> (42.0%)Assertion Therapeutics [ASRT] >> (46.0%) Becton Dickinson & Co. [BDX] ... AM
Brookfield [BN] ... AM
Transdigm Group [TDG] ... AM
Grab [GRAB] ... AM
US Foods [USFD] ... AM
News Corp. [CTVA] ... PM
Hologic [HOLX] ... PM
Illumina [ILMN] ... PM
Mettler Toledo Intl [MTD] ... PM
The Trade Desk [TTD] ... PM Weekly Jobless Claims ... 8:30a |
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