Thursday, November 3, 2022

Ouch Lincoln National Corpation...

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stocks dipped on Thursday. Federal Reserve Chair Jerome Powell's latest interest rate hike of 75 basis points caused Wall Street to reel. It was the S&P 500's 54th decline of 1% or more in 2022 – the worst downside volatility since 2009, according to Compound Advisors' Charlie Bilello.

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

Lincoln National Corporation (NYSE: LNC)

Lincoln National Corporation is down 26.85% premarket after reporting a quarterly loss of $10.23 per share versus the Zacks Consensus Estimate of $1.93. This represents an earnings surprise of -630.05%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

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Etsy, Inc. (Nasdaq: ETSY)

Etsy is up 10.81% premarket after the company's revenue and gross merchandise sales topped predictions. Gross sales topped $3 billion and third quarter revenue was $594.5 million, up 12% from a year ago.

 

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Altice USA, Inc. (NYSE: ATUS)

Altice USA is down 23.16% premarket after the broadband and video-services provider reported third-quarter results that missed expectations. The company reported net income of $97.6 million, or 19 cents a share, compared with $270.7 million, or 58 cents per share, in the same quarter last year. Executive Chairman Dexter Goei said 'we are operating in a very competitive environment and are starting to see macroeconomic pressures across our business.'

 

SunRun (Nasdaq: SUN)

SunRun is up 6.19% premarket after the solar power developer ended the third quarter with higher-than-expected earnings and revenue in the third quarter. Sunrun has been able to take advantage of growing government tax credits for renewable power and energy, which is helping expand its margins.

The energy sector is shifting, and Russian President Vladimir Putin's latest decision to cut off natural gas to Europe is also weighing heavily on markets. See why our friend Alexander Green thinks Putin's blunder could lead to a MASSSIVE gain for this $30 stock.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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