Monday, July 11, 2022

Social media company drops...

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Elon Musk announced he was terminating his deal to buy Twitter due several breaches of the merger agreement.

Good morning Wake-Up Watchlisters! While you're sipping your summer hibiscus soda you'll see stock futures dipped early Monday morning as Wall Street prepares for big company earnings reports. The lower moves were also caused by worsening Covid trends in China, as Shanghai reported its first case of the BA.5 subvariant and Macau closed its casinos for a week.

Despite some record market lows, War Room members are still ringing the register. Last week we closed 11 out of 11 winners for a 100% win rate, including a 20% return on a stock in the pet sector. That's how you collect profits in a bear market.

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

Twitter (NYSE: TWTR)

Twitter is down 6.41% premarket after Elon Musk announced he was terminating his deal to buy the social media giant due to several breaches of the merger agreement. Jefferies analyst Brent Thill said he believes Musk's decision to terminate the deal was based more on the market sell off than any 'failure' to comply requests. Twitter is looking volatile.

 

Wynn Resorts (NYSE: WYNN)

Wynn Resorts is down 5.60% premarket after Macau city officials said casinos there would be shut down for a week to fight a COVID-19 surge. Shares of Las Vegas Sands Corp. also dropped 5.3%. Wynn and Las Vegas Sands had more revenue from Macau than Las Vegas in 2021. Both stocks are looking volatile.

 

Luluemon Athletica (NYSE: LULU)

Luluemon Athletica is down 3.99% premarket after Jefferies downgraded the athletics apparel maker to underperform from hold and cut its price to $200 from $375. Analysts said the sector saw a spike in demand from COVID, which could slow growth against difficult comparisons. It is also facing increased competition from companies like Alo, Athleta and Vuori. Luluemon is looking volatile.

 

Iron Mountain (NYSE: IRM)

Iron Mountain is up 3% premarket as the company continues to elevate its status as a player in the fast-growing data storage industry. The company has a customer retention rate of 98%, and it was able to grow its AFFO per share to a record $3.48 in 2021. That's good for 13.4% growth. It also offers a 5% dividend yield. Keep an eye on Iron Mountain 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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