Tuesday, September 13, 2022

Fashion Company Dips After Layoffs

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're basking in caffeine euphoria you'll see U.S. stock futures rose on Tuesday. The Bureau of Labor Statistics is scheduled to release its August Consumer Price Index at 8:30 a.m. today. The data is expected to show inflation rose at an annual pace of 8.1% last month. This would mark the second-straight moderation in prices after four-decade highs reached earlier this year.

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

Rent the Runway, Inc. (Nasdaq: RENT)

Rent the Runway Inc. is down 22.92% premarket after the company said it would reduce its corporate workforce by 24%. According to the fashion-rental service, it's adjusting to a slowdown in consumer spending and shifts in shopping habits adopted earlier from the pandemic.

 

Akero Therapeutics (Nasdaq: AKRO)

Akero Therapeutics is up 69.03% premarket after the metabolic disease treatment company released topline data from HARMONY, a 24-week Phase 2b study evaluating the efficacy and safety of its lead product candidate Efruxifermin.The study met its primary endpoint for both the 50mg and 28mg EFX dose groups, with 41% and 39% of treated patients experiencing at least one-stage improvement in liver fibrosis.

 

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Planet Labs PBC (NYSE: PL)

Planet Labs is up 11.07% premarket after the leading provider of earth data announced financial results for its fiscal second quarter. The company showed accelerated growth and momentum of its unique data subscription service, increasing revenue 59% year-over-year to $48.5 million. Second-quarter gross margin also expanded to 48%.

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Guardforce AI Co. (Nasdaq: GFAI)

Guardforce AI is up 25.80% premarket after the security solutions provider announced it signed a non-binding letter of intent to acquire Shenzhen Kewei Robot Technology Company Limited, a high-tech robotics company specializing in developing robotics software solutions. The company plans to pay for this acquisition through a combination of cash (10%) and restricted common stock of the company (90%).

 

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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