Wednesday, June 1, 2022

Record Revenue Fuels Fashion Company's Surge

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Wednesday Winners
 

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The global luxury fashion company's reported net income of $81 million on Wednesday.

Good morning Wake-Up Watchlisters! While you're getting your favorite swimming trunks and colored sandals ready for summer (more on that below), you'll see stock futures are struggling for direction as investors watch developments over central bank policy to fight inflation.

Oil also continues to rise and minsters from OPEC+ unity will meet Thursday to discuss its supply policy for July. Crude advanced 10% in May, further stoking inflation fears.

While the fossil fuel sector is still at the forefront, the renewable energy sector is also undergoing a once-in-a-generation transformation. Our friend Andy Snyder recently discovered what he's calling 'The Next Blockbuster EV Company,' one he believes has the chance to surpass Tesla as the premier electric vehicle maker. Click here to learn more about it.

 

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

Capri Holdings (NYSE: CPRI)

Capri Holdings is up 10.79% premarket after recording the highest revenue, gross margin and EPS levels in the company's history. The global luxury fashion company reported net income of $81 million on Wednesday. It also announced the creation of The Versace Foundation in connection with Pride month 2022, vowing to pledge $10 million to increase awareness. Capri Holdings is looking strong.

 

Salesforce (NYSE: CRM)

Salesforce is up 8.61% premarket after the company reported strong earnings for the first quarter. Revenue came in at $7.41 billion, a 24% increase year-over-year. Its adjusted earnings per share hit $0.98, better than the estimate of $0.95. But the key metric for the company is a change in current remaining performance obligation, which came in at $21.5 billion. Keep an eye on Salesforce going forward.

 

Valvoline (NYSE: YVV)

Valvoline is up 3.26% premarket as buyout speculation continues. Last week The Wall Street Journal reported that Saudi Aramco had approached Valvoline about buying the company's retail operations. Saudi Aramco is the largest oil company in the world by revenue, so that grabbed investors' attention. No deal has been reached at this time, but keep an eye on Valvoline going forward.

 

APA Corp. (Nasdaq: APA)

APA Corp. is up 3.17% premarket after reporting strong financial results recently. The share price soared 129% in the last year. Plus the share price is up 34% over the last quarter. Overall, the stock is up 83% over the last three years. APA Corp. is a stock to keep an eye on.

 

Worried About the Markets Crashing? You'll Want To Watch This Video

Bear markets are usually a cause for concern, but our Head Trading Tactician Bryan Bottarelli has a way to weather the storm. In his latest Trade Talk Tuesday episode, he discusses three stock symbols GUARANTEED to go up if the market indexes crash. Click here to watch the video.

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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