Thursday, August 25, 2022

Software Company Pops 17%

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures were clearly higher on Thursday. Central bankers are traveling to Jackson Hole for the U.S. Federal Reserve's highly-anticipated economic symposium. Investors will be tuning in for clues on the pace and severity of rate-hiking plans for the rest of the year.

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

Snowflake (NYSE: SNOW)

Snowflake is up 17.51% premarket after the software company beat analysts' estimates for quarterly sales. Product revenue for the period ending in October is expected to be as much as $505 million, beating the analysts estimate of $501.1 million.

 

FREYR Battery (NYSE: FREY)

FREYR is up 14.47% premarket after the company announced a strategic alliance with South Korea-based Hana Technology Co. Ltd. Together, the two companies will jointly develop equipment and automation solutions for FREYR's Customer Qualification Plant in Norway. This partnership will also allow FREYR and Hana Technology to customize and co-develop solutions for the CQP.

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Splunk, Inc. (Nasdaq: SPLK)

Splunk is down 10.93% premarket after the IT software company reported a slower customer acquisition. Despite the low numbers, total revenues were up 32% year-over-year and cloud revenue was up 59% year-over-year. The company also raised its forecast for revenue for the 2023 fiscal year ending in January.

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Salesforce (NYSE: CRM)

Salesforce is down 6.31% premarket after the company trimmed its full-year revenue forecast. Salesforce said it sees full-year sales in the region of $30.9 to $31 billion, down from its prior forecast of $31.7 billion to $31.8 billion. The company cited the surging U.S. dollar and increased sector competition for the lower projections.

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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