Thursday, October 6, 2022

Semiconductor Company Pops

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures dropped as the big two-day rally that started the quarter is starting to fizzle. Recent economic data showed a larger than expected drop in job openings. Manufacturing activity is also cooling down. These developments could inspire the Federal Reserve to pull back on rate increases, but Wall Street is still skeptical.

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

WIseKey International Holding (Nasdaq: WKEY)

WISeKey is up 18.67% premarket after the company reported strong preliminary results for 2022. It reported revenue of $20.5 million, a 69% increase from the 9-month 2021 period. Revenue for the third quarter increased by 44% compared to a year ago, and the backlog of $37 million for IoT Semiconductor products stretches into 2023 and totals $100 million.

While many tech stocks have fallen in 2022, a $13 trillion technology revolution is predicted to begin in January 2023. And there's one area of tech our friend Andy Snyder says could be truly transformational.

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Surgepays (Nasdaq: SURG)

Surgepays is up 18.67% premarket after the company recently reached 200,000 subscribers in its mobile broadband subscriber business SurgePhone Wireless LLC, the Company's wholly-owned subsidiary. According to CEO Brian Cox, the telecommunications company is still in the early stages of scaling, and has longer-term target of 500,000 subscribers.

 

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Entera Bio (Nasdaq: ENTX)

Entera Bio is up 17.27% premarket after announcing an FDA agreement for a single phase 3 clinical trial to support its latest drug application for osteoporosis. The FDA also agreed that Total Hip Bone Mineral Density could serve as the primary endpoint for the study. The single pivotal Phase 3 clinical trial includes a 24-month placebo-controlled duration with change in total hip BMD assessed at the end point.

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Innovative Eyewear (Nasdaq: LUCY)

Innovative Eyewear is up 11.61% premarket after the developer of cutting-edge smart eyewear announced it has licensed the global lifestyle brand Nautica for smart eyewear. The Nautica smart eyewear collection is expected to launch for Holiday 2022 or soon thereafter.

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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