Friday, May 27, 2022

Dude, Look at Dell

Trade of the Day Wake-Up Watchlist

Dell cited strong demand for business PCs and networking services, a sign companies are upgrading their systems as workers return to the office.

Good morning Wake-Up Watchlisters! While you're sipping that first cup of Kopi Luwak coffee you'll see stock futures rallied to snap seven weeks of declines. Consumers are remaining resilient as US futures advanced yesterday. Chinese tech shares also jumped as two of the biggest Internet giants topped sales estimates.

While the market is still volatile, our War Room members are navigating the choppy waters to great success. Earlier this week we rang the register on six double-digit winners, including a put on a stock that yielded 32% gains! We're currently guaranteeing members 322 winning trades in their first 12 months. Isn't it time you got in on the action? Click here to join The War Room.

 

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

Dell Technologies (NYSE: DELL)

Dell Technologies is up 12.38% premarket after crushing its first quarter earnings estimates. The company cited strong demand for business PCs and networking services, a sign companies are upgrading their systems as workers return to the office. Sales increased 16% to $26.1 billion in the fiscal first quarter, which ended April 29. Dell is looking strong going forward.

 

Iovance Biotherapeutics (Nasdaq: IOVA)

Iovance is down 46.23% after announcing its new clinical data for its experimental melanoma drug, including a 29% objective response rate in one in a study for certain patients with melanoma. The company also reiterated plans to file a biologics application to the Food and Drug Administration in August. Iovance is looking volatile.

 

Ulta Beauty Inc. (Nasdaq: ULTA)

Ulta Beauty is up 9.13% premarket after coming out with quarterly earnings of $6.30 per share, beating the Zacks Consensus Estimate of $4.44 per share. This compares to earnings of $4.10 per share a year ago. This quarterly report represents an earnings surprise of 41.89%. Ulta Beauty is looking strong.

 

The Gap, Inc. (NYSE: GPS)

The Gap Inc. is down 19.24% premarket after reporting a wider first-quarter loss than expected. Supply chain challenges and consistent delays put a major dent in the brand's responsive abilities. The company said it sees its full-year earnings of between 30 cents and 60 cents per share, down from its prior forecast of a $1.85 to $2.05 per share range.

 

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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