Friday, August 26, 2022

A 94% Boost For This Software Company

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures dropped Friday. Investors are anticipating a chorus of Federal Reserve hawks before Chairman Jerome Powell's speech at 10 a.m. this morning. The question will be if Powell resets market expectations to continue applying the brakes to economic activity.

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

Everbridge (Nasdaq: EVBG)

Everbridge is up 17.42% premarket after a report the software company is exploring a sale. Potential buyers could include industrial companies and private equity firms. Activist investor Ancora Holding Group said in May that Everbridge could receive more than $70 per share in the deal.

 

Micro Focus (NYSE: MFGP)

Micro focus is up 94.56% premarket. Shares soared after the enterprise software maker accepted a takeover offer from Canada's OpenText. Micro focus accepted the bid of $5.32 per share, valuing the company at $6 billion overall.

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Workday, Inc. (Nasdaq: WDAY)

Workday is up 11.23% premarket after the company shares beat on both the top and bottom lines, posting adjusted earnings of $0.83 a share on $1.54 billion in revenue. It also adjusted operating margin outlook for the third quarter and kept its full-year subscription revenue guidance.

 

Athersys, Inc. (Nasdaq: ATHX)

Athersys is down 20.65% premarket after the regenerative medicine company announced a 1-for-25 reverse stock split. Shareholders approved the split on July 28 in order to bring the company into compliance with Nasdaq's minimum bid price. Athersys plans to implement the reverse stock split by Monday's market opening.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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