| Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Monday! It's April 24th. I hope you had an excellent weekend. Now, let's get ready to trade! Markets US benchmarks closed Friday's session with minimal gains. The Dow and S&P 500 added less than 0.1%, while the Nasdaq and Russell 2K notched 0.1% gains. Today, futures are trending down in the premarket. S&P 500 contracts are currently showing a 0.1% loss. Sponsored A Crash Proof Portfolio? If you're worried "transitory" inflation and "mild" recession will be worse than expected... You're not alone. BUT one asset 99% of investors miss helps protect your portfolio and has outpaced the S&P by 131% over the past 26 years. Art. Historically, you've needed millions to invest, but one platform lets you buy shares in famous paintings for as little as $20! Skip the waitlist and join Masterworks today with this private link. Premarket Highlights Bed Bath & Beyond Files for Bankruptcy The home goods retailer filed for bankruptcy over the weekend, capping off an drama that has lasted several months. BBBY is one of the premarket's top decliners as a result of the news. What to Watch Today First Republic Earnings Investors are still uneasy about First Republic Bank. The company was at the center of the banking crisis a few weeks ago, and many believed it would be the next bank to fail. Wall Street intervention managed to save the bank, but now investors will get their first look under the hood since the crisis kicked off when FRC reports its earnings before today's opening bell. If the market finds any reason for systemic concern, the report could shake up the trading day. Major Earnings Coca-Cola Company (The) [KO] ... AM
Cadence Design Systems, Inc. [CDNS] ... PM
Ameriprise Financial, Inc. [AMP] ... PM
Alexandria Real Estate Equities, Inc. REIT [ARE] ... PM
Brown & Brown, Inc. [BRO] ... PM
Packaging Corporation Of America [PKG] ... PM
Crown Holdings, Inc. [CCK] ... PM
Cleveland-Cliffs Inc. [CLF] ... PM
Whirlpool Corporation [WHR] ... PM
Range Resources Corporation [RRC] ... PM Economy None scheduled Running Hot GainersAppreciate Holdings [SFR] >> +37.9%Foresight Autonomous [FRSX] >> +24.4%MicroCloud Hologram [HOLO] >> +22.1%DeclinersAgileThought [AGIL] >> (12.8%)Bed Bath & Beyond [BBBY] >> (34.8%)Foghorn [FHTX] >> (19.4%) IDEAYA Biosciences [IDYA] - Last Close: $14.93 A promising announcement is rallying shares of IDEAYA Bio. On Sunday, the biotech company announced it had observed "encouraging clinical activity" in a phase 2 study of darovasertib and crizotinib in tumor patients. The company said an ongoing trial in collaboration with Pfizer [PFE] showed the combination therapy produced a confirmed overall response rate of 45%. IDEAYA says it plans to begin a registration-enabling phase 2/3 clinical trial sometime in Q2. IDYA is up 22.5% on the upbeat clinical data. My Take: IDYA shares are trading near a new low, so this catalyst could set it up for a swing higher. Keep an eye on this one. ANI Pharmaceuticals [ANIP] - Last Close: $39.52 ANI Pharmaceuticals is rallying after an FDA green light. The pharma firm announced Monday morning that the Food & Drug Administration approved its application for Nitrofurantoin Oral Suspension USP. ANI Pharma said the drug is a generic version of Furadantin® Oral Suspension 25 mg/5 ml, which has an approximate market value of $55.5 million. ANIP is up 23.8% in response to the FDA drug approval. My Take: ANIP is facing resistance at $45 per share. This rally won't put it over the hump, but it could continue to move higher if it can keep racking up FDA approvals for generic drugs. Aclarion [ACON] - Last Close: $0.7399 Aclarion just announced the results of a groundbreaking trial. The company published two-year durability data demonstrating improved surgical outcomes for lower back pain surgeries identified by its Nociscan system. Aclarion's Nociscan helps physicians identify chemically painful lumbar disks that cause chronic low back pain so they can correct them with surgery. The two-year data showed Nociscan produced a 22% improvement over patients whose treatment strategies didn't align with platform's indication. The news made ACON a top premarket mover. It's up 93.2% on elevated premarket trading volume. My Take: This is a big breakthrough for ACON and it could give the company's revenues a major boost. This rally seems overdone, but there could be an opportunity to get in on a pullback. Tempo Automation Holdings [TMPO] - Last Close: $0.70 Tempo Automation is running hot after a recent filing.
This morning, the company announced the appointment of a new public accounting firm in a Form 8-K filing.
Tempo dropped its former accountant, BDO, in favor of WithnumSmith+Brown PC. The company also clarified several issues that BDO noted on the company's last annual filing, and BDO agreed with the assertions in a letter to the SEC. TMPO is one of today's top movers with a 105.7% premarket gain. My Take: This was a lucrative pop, but I don't see it lasting for very long. TMPO has problems, and I think this rally will dissipate shortly. | 