Friday, July 15, 2022

Canoo Booms Again

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Good morning Wake-Up Watchlisters! While you're juggling Dunkin Donut Munchkins after your third cup of coffee you'll see stock futures rose Friday. Traders are waiting with bated breath for the release of more corporate earnings and key economic data. Wells Fargo and Citigroup are expected to report later this morning while shares of JPMorgan Chase and Morgan Stanley shares declined recently.

 

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

Canoo (Nasdaq: GOEV)

Canoo is up 29.13% premarket just days after seeing its shares climb 80%. The electric truck start-up delivered more good news Thursday after announcing it has been selected to work with the U.S. Army on a potential project. It has been awarded an Army contract to supply an electric vehicle for analysis and demonstration.

Electric vehicles continue to see more and more integration into mainstream society. Tesla CEO Elon Musk recently sent another innovative technology into orbit, and our friend Alexander Green wants people to know about 'the biggest healthcare innovation in half a century.' Right now you can get in on its technology for $3.

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Pinterest (NYSE: PINS)

Pinterest is up 14.29% premarket after activist investor Elliott Management took a 9% stake in company. This stake makes Elliott the company's biggest investor. According to The Wall Street Journal, it's not clear why Elliott is taking a stake. The news follows a shake-up at Pinterest last month, when co-founder and Chief Executive Officer Ben Silbermann handed the reins to Google and Paypal vet Bill Ready.

 

10X Genomics (Nasdaq: TXG)

10x Genomics is down 19.43% premarket after the biotech company said it expects lower-than-expected revenue for the second-quarter. The company said it expects second-quarter revenue of $114.5 million, a decline of 1% from last year's $115.8 million. Analysts surveyed by FactSet had estimated revenue of $127.7 million.

Biotech remains volatile, but we recently helped War Room members ring the register with multiple double-digit gainers in this sector. Our latest biotech trade saw a return of 12.29%.

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Wells Fargo (NYSE: WFC)

Wells Fargo is down 3.50% premarket as the company fell short of earnings this morning. The bank reported its second-quarter net income declined to $3.12 billion, or 74 cents a share, from $6.04 billion, or $1.38 a share. Second-quarter revenue dropped $17.02 billion from $20.27 billion.

 

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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