Tuesday, July 12, 2022

Clothing Retailer Falls Premarket

Trade of the Day Wake-Up Watchlist

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Gap CEO Sonia Syngal announced she would be stepping down after a "brief" transition period.

Good morning Wake-Up Watchlisters! While you're sipping your pink lemonade on a beach somewhere you'll see stock futures fell Tuesday as worries of global economic growth muted investor excitement. Investors appeared to be shunning riskier assets such as stocks in favor of safer bets like U.S. Treasurys and the dollar.

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

The Gap (NYSE: GPS)

Gap is down 6.39% premarket after CEO Sonia Syngal announced she would be stepping down in a "brief" transition period. Executive chairman Bob Martin will assume the role as interim CEO. The onset of the COVID-19 pandemic led to a rough first quarter for the company under Syngal. For the year, Gap saw earnings per share of $0.30 to $0.60 compared to Street estimates of $1.30. Gap remains volatile.

 

Doordash (NYSE: DASH)

Doordash is down 4.66% premarket after the company shut down Chowbotics, the Hayward-based robotic salad-making business it bought in February 2021. The move was due to the fact that Chowbotics' Sally robots weren't meeting DoorDash's internal benchmarks. Doordash is looking volatile.

 

Assurant (NYSE: AIZ)

Assurant is up 4.23% premarket after being named one of Ward's 'Top 50 performing property and casualty insurers' for the 16th consecutive year. The company was also recognized for outstanding financial results. In 2022, shares have rallied 12.4% year to date against the industry's decrease of 6.4%. Keep an eye on Assurant going forward.

 

Arrow Electronics (NYSE: ARW)

Arrow Electronics is up 2.57% premarket. The company has witnessed the Zacks Consensus Estimate for its current year earnings increase 4.3% over the last 60 days. It currently carries a 'Strong Buy' rating from Zacks and has a price-to-earnings ration of 5.05., compared with 7.90 for the industry. Keep an eye on Arrow Electronics going forward.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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