Good morning, Wake-Up Watchlisters! Grab your favorite mug, toss the Donut Shop cup in the Keurig and feed the cat before she loses her mind. Then let's check out what's going on in the premarket… The markets are down across the board and JPMorgan's CEO has come out predicting a recession in the next 6 to 9 months. This does not bode well for the country, and certainly not for the financial giant's upcoming earnings report at the end of the week. At this rate Fed Chairman Powell will never win a Nobel prize like his predecessor. Don't get caught holding the bag if the bottom falls out on the market. We've zeroed into a $3 investment that could be the lynchpin that helps your portfolio survive the recession, but you have to make your move before Nov 4th. Click here for more info. Now, let's take a look at the top-moving stocks this morning. SeaSpine Holdings (NASDAQ:SPNE) SeaSpine Holdings up 26.49% premarket. Shares took off this morning after it was announced that the medical technology company would be merging with Orthofix Medical Inc. (Nasdaq: OFIX). The deal sets a price of $7.66 for each of Seaspine's shares a 37.5% premium over where they were on the last market close. Seaspine also released its 3rd quarter earnings results this morning exceeding expectations with 45% revenue growth year-over-year and raising forward guidance. Orthofix and Seaspine are down over 40% since the beginning of the year. This merger and awesome earnings report could be a great catalyst to change that momentum. Edgio (Nasdaq: EGIO) Edgio is up 17.86% premarket. The American company provides a content delivery network service, used for delivery of digital media content and software. Recently, big institutional investors BlackRock Fund Advisors, Granahan Investment Management, and Newton Investment Management Nort added to their positions. Not only that, but the consensus price target is also now $6.17, a very bullish number given the shares now sit around $3. |
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