Tuesday, March 14, 2023

Banks Get a Rebound Boost...

Trade of the Day Wake-Up Watchlist

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures rose on Tuesday. Investors are awaiting inflation data that may signal more rate hikes from the Federal Reserve in the near future. Diving Treasury rates were the talk of Wall Street yesterday, as the yield dropped more than a half-percentage point in the biggest move since the 1980's.

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

Charles Schwab (NYSE: SCHW)

Charles Schwab is up 7.03% premarket after Citi analysts defended the stock and upgraded their rating to Buy from Neutral. The analysts noted a "compelling entry point" and the rebound comes a day after the stock fell 11%.

Yesterday we called for buying bank dips in The War Room and took a winning trade on SCHW in less than 24 hours.

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Doordash (NYSE: DASH)

Doordash is up 8.01% premarket after Uber, Lyft and Doordash all scored a major victory in their battle to continue treating their drivers as independent contractors. A California appeals court reversed a lower-court ruling that found Proposition 22, the ballot measure passed in November 2020 that classified Uber and Lyft drivers as independent contractors rather than employees, to be illegal.

 

Bunge (NYSE: BG)

Bunge is up 8.40% premarket after S&P indices said it would replace failed Signature Bank in the S&P index. The change is effective before the bell on Wednesday.

 

GitLab, Inc. (Nasdaq: GTLB)

GitLab is down 30.92% premarket after the company reported revenue forecasts for the first-quarter that fell short of expectations. The company said it expected quarterly revenue guidance in the $117 million to $118 million range, while the average analyst estimate was $126.7 million. Its full year forecast was for $529 million to $533 million, coming in well below the $587.3 million 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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