Thursday, October 27, 2022

Tech Giant Falls in Premarket

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see US stock futures wavered on Thursday. Big tech struggled with earnings (more on that below) and the European Central Bank is set to raise interest rates by 75 points. The pace of those interest rate increases is likely to slow to 50 points in December, according to economists.

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

Meta Platforms (Nasdaq: META)

Meta Platforms is down 20.10% premarket as the company missed its latest earnings. Reality Labs also missed simply because people aren't buying headsets. Analysts are calling on CEO Mark Zuckerberg to cut expenses, which could lead to him reining in hiring after the news.

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ServiceNow, Inc. (NYSE: NOW)

ServiceNow is up 14.81% premarket after the company beat profit expectations and subscription revenues grew 22% from a year ago. The number of customers paying over $10 million in annual contract value surged 60% year-over-year.

 

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Altra Industrial Motion Corp. (Nasdaq: AIMC)

Altra Industrial Motion Corp is up 48.42% premarket after announcing acquisition by Regal Rexnord Corporation. Regal Rexnord is acquiring Altra Industrial for $5 billion on an enterprise value basis. Under the terms of the agreement, Altra shareholders will receive $62.00 in cash for each share of Altra common stock.

 

Verb Technology (Nasdaq: VERB)

Verb Technology is up 13.29% premarket after the livestreaming company announced it has entered into securities purchase agreements with institutional investors for the purchase and sale of 12,5000,000 shares of the company' common stock. The offering is expected to close on Oct. 28, 2022.

As content creation evolves, so does the state of technology. A predicted $13 trillion tech revolution is set to begin in January 2023. And our friend Andy Snyder is pounding the table on one stock that could hand you life-changing profits.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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Source: WIkiMedia Commons

 

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