Friday, April 22, 2022

These Bank Stocks are Surging

Trade of the Day Wake-Up Watchlist

Huntington Bancshares Benefitted From Acquiring TCF Bank In 2021, Which Resulted In a Strong First-Quarter Earnings Report

Good morning Wake-Up Watchlisters! While you're throwing a big stick of butter into your coffee you'll see stock futures are down after Federal Reserve Chairman Jerome Powell said the Fed must start making moves to tackle high inflation. This will likely lead to sharp interest rate hikes in the coming months.

But fear not. This is a time where amazing buying opportunities often present themselves.

 

Here's a look at the top-moving stocks this morning.

Huntington Bancshares Inc. (Nasdaq: HBAN)

Huntington Bancshares is up 4.26% premarket after reporting first-quarter earnings of 32 cents per share, surpassing the Zacks Consensus Estimate of 31 cents. The company benefitted from acquiring TCF, which added earning assets and free income. Strength in capital and market fees also drove the top line. Huntington Bancshares is looking strong.

We've been bullish on bank stocks in The War Room. With rents rising and the economy booming, the outlook for this sector has never been better. Back in March, we opened a trade on a major player in this sector. Click here to unlock that trade.

 

SVB Financial (Nasdaq: SIVB)

SVB Financial is up 9.32% premarket after coming out with earnings of $7.92 per share, beating the Zacks Consensus Estimate of $5.37 per share. This represents an earnings surprise of 47.49%. Over the last four quarters, the company has surpassed consensus earnings estimates four times. SVB is a stock to keep an eye on going forward.

 

Our Head Trading Tactician Calls For This Trade Before June

FedEx (NYSE: FDX) was just ranked as a 'buy' by our Head Trade Tactician, Bryan Bottarelli. Bryan recently described the situation between FedEx and UPS (NYSE: UPS) as a duopoly. And right now, FedEx is trading significantly cheaper than UPS. Click here to learn more on why you should get in on this trade now.

NRG Energy (NYSE: NRG)

NRG Energy is up 2.99% premarket after its Board of Directors declared a quarterly dividend on the Company's common stock of $.35 per share, or $1.40 per share on an annualized basis. The dividend is payable to stockholders as of May 2, 2022. Put this stock on your watchlist going forward.

 

Gap Inc. (NYSE: EPAM)

Gap is down 13.58% premarket after its Old Navy division CEO Nancy Green announced she is leaving. The company also cut its revenue guidance for its fiscal first quarter, citing challenges within the Old Navy business. Gap is down over 55% over the last year. This is a volatile stock going forward.

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

Price Is What You Pay, value Is What You Get
 

If Warren Buffett Takes His Own Advice - This $2 Stock Just Might Be the Biggest Value in Wall Street History (See How to Get the Ticker Symbol Here!)

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