| Stocks tumbled on Monday as the market suffered broad losses. The Nasdaq sold off for 2.6%, and the S&P 500 lost 2.1% on the day. The Dow fared slightly better with a 1.9% loss, and the small-cap Russell 2K fell 2.1%. Today, futures are ticking higher after two consecutive sessions of steep losses. Dow and S&P 500 contracts are up 0.1% as we approach the opening bell. The #1 Way To Power Up Your Retirement Buying Tesla, Apple, Amazon, Bitcoin, or any other anything else â right now â is a DEVASTATING financial mistake. One of Americaâs #1 trading millionaires has joined the ranks of the top 1% of wealthy by IGNORING 99% of the entire stock market. You could beat the market by a wide margin and generate steady returns by trading just ONE high quality stock, Get the Details on This Ground-Breaking Trade Here US natural gas prices hit a 14-year high this week as demand increases for US shale gas across the globe. The Chinese Yuan has dropped to its weakest level against the US dollar in two years and is expected to face further declines in the wake of China's recent rate cut.Crude oil prices are on the rise after Saudi Arabia's energy minister said OPEC+ may cut output to support sagging prices. Palo Alto Networks [PANW] - Last Close: $508.05 Strong earnings are lifting shares of Palo Alto Networks. The cybersecurity and IT firm reported its fiscal Q4 earnings this morning, and investors are pleased with the result. Palo Alto beat Wall Street's target for both EPS and revenues with earnings of $2.39 per share on revenues of $1.6 billion. The numbers also marked significant growth from the year-earlier's figure of $1.60 EPS on revenues of $1.22 billion. The strong quarter also prompted Palo Alto to lift its fiscal Q1 and 2023 guidance to levels that surpassed analyst expectations. Palo Alto also announced plans for a three-for-one share split, and the firm also authorized a $915 million share buyback program. The blowout quarter is driving PANW to a 9.4% premarket gain, making it one of the premarket's top-performing large cap stocks. My Take: Cybersecurity is a growing industry, and global uncertainty is only going to further enhance demand. Palo Alto is one of the best, but the stock has been a lackluster performer over the past year. Aerie Pharmaceuticals [AERI] - Last Close: $11.15 Aerie Pharma is surging on news of a buyout deal. The micro-cap pharma stock has agreed to be acquired by Alcon AG [NYSE:ALC] in an all-cash deal worth roughly $770 million. The purchase price of $15.25 per share represents a roughly 37% premium to AERI's last closing price. Alcon said the acquisition will bolster its ophthalmic pharma portfolio with Aeri's Rocklatan and Rhopressa eye drops, plus a pipeline full of many strong clinical and pre-clinical drug candidates. AERI is one of this morning's top performers with a 35.4% gain. My Take: This acquisition is good news for shareholders, but, if you're not already on board, you've already missed out. Shares are currently trading for just 10-cents below the acquisition price. Marin Software [MRIN] - Last Close: $1.75 Marin Software is surging after a Monday evening press release. The enterprise marketing software firm announced last night that its platform can integrate directly with Snapchat's ad campaigns through its MarinOne cross-channel platform. The Snapchat API integration allows MarinOne users to tap into improved performance insights using the platform's built-in machine learning and automations, Marin Software said in a statement. News of the integration is rallying shares of MRIN in today's premarket. It's up 24.6% on active trading volume. My Take: Marin Software is making admirable strides, but digital ad spending has slowed down as of late. The company could disappoint on earnings, so keep that in mind if you plan on getting in this trade. Avaya Holding Corp [AVYA] - Last Close: $0.8011 Insiders at Avaya Holding Corp are snatching up shares like crazy. A 10%+ owner of the digital communications company, King Theodore Walker Cheng-De, recently made a major purchase of additional shares. A Form 4 recently filed with the SEC revealed Cheng-De has added 2 million shares to his position in the company at a purchase price of roughly $1.37 million After the purchase, Cheng-De now controls nearly 11 million shares of AVYA, His position is valued at roughly $7.37 million based on the transaction price. News of the massive inside buy is prompting a sharp rally. AVYA is up 23.7%, and it's one of this morning's most active stocks. My Take: Something big could be brewing here. Cheng-De could be positioning himself to take control of the company and take it private, or he could be buying with the confidence that share prices will go up. Either way, it could bear well for shareholders, but keep in mind that this move is based on speculation for now. |
