Friday, February 3, 2023

Activist Investor Raises Stake in Clothing Retailer

Trade of the Day Wake-Up Watchlist

Correction: Due to a misinterpretation of our trade software data, we incorrectly stated a 36% gain on META yesterday. We were waiting on a price target and weren't in the trade at that time.

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures fell on Friday after subpar earnings from several big tech companies. Apple, Amazon and Google parent Alphabet all posted underwhelming quarterly results. More key economic data is coming this morning, as the Labor Department is scheduled to release its January jobs report.

With plenty of big movers in the stock market during earnings season, it's important to know the best strategies for predicting stock movement. Our Head Fundamental Tactician Karim Rahemtulla loves to follow insider buying (the legal kind). He bases a lot of his trades on where the big names put their money, and his Insider Matrix portfolio offered a 14% average return in 2022.

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

Nordstrom, Inc. (NYSE: JWN)

Nordstrom is up 28.90% premarket after reports meme-stock investor Ryan Cohen has a stake in the clothing retailer. Cohen is known for sparking big jumps in meme stocks such as GameStop. The activist investor reportedly intends to urge the chain to make changes to its board following a steep share-price decline, according to The Wall Street Journal.

 

Clorox (NYSE: CLX)

Clorox is up 4.22% premarket after the company came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.65 per share. The quarterly report represents an earnings surprise of 50.77%. Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Don't miss out on potential big moving stocks like these. We got positioned on Clorox yesterday for an overnight trade in The War Room.

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Amazon (Nasdaq: AMZN)

Amazon is down 5.21% premarket as sales fell 2.3% from last year to $64.53 billion, suggesting weakening consumer spending over the final months of the year. Looking into the current quarter, Amazon said it sees operating income of between zero and $4 billion on revenues in the range of $121 billion to $126 billion, compared to the Refinitiv forecast of around $125.1 billion.

 

Wow, Putin Just MAJORLY Screwed Up!

Clown
 

Source: Wikimedia Commons

 

Vladimir Putin just made an idiotic mistake that will cost him dearly. It's going to drain trillions of dollars out of Russia... and potentially make some AMERICANS rich. What a bizarre story...

Ford Motor Company (NYSE: F)

Ford Motor Company is down 7.47% premarket after an earnings per share miss. Adjusted EPS came in at $44 billion versus $39 billion estimated. Also guidance for the full year came between $9 billion to $11 billion versus $10 billion estimated. Ford said its operating results were below expectations and CEO Jim Farley said the company left $2 billion in profits on the table that were within the company's control.

 

Bill.com Holdings, Inc. (NYSE: BILL)

Bill.com Holdings is down 22.04% premarket. The business automation software company's revenue outlook struggled to meet Wall Street expectations. Bill.com's revenue beat expectations, but it's seeing a total revenue forecast for the next quarter of $245 million vs. a $251 million Wall Street estimate.

 

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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