Wednesday, March 8, 2023

Hygiene Group Booms After $4.6B Merger

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stocks rose on Wednesday. The markets edged higher after hawkish comments from Federal Reserve Chair Jerome Powell. His remarks fueled a selloff on Wall Street a day earlier and put a sharp focus on the upcoming labor market data. Right now, investors are expecting rates around 6%.

With worries over a recession increasing, it's vital to know where the best trading opportunities are. Our Head Fundamental Tactician Karim Rahemtulla has been championing this under $1 stock for over a year now. He's calling it "The Last Great Value Stock" and for good reason. It has a foothold in several emerging technologies and recently spiked 22%. But all signs show it still has a lot of room to grow.

Click here to discover "The Last Great Value Stock."

 

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

Crowdstrike Holdings (Nasdaq: CRWD)

Crowdstrike is up 6.68% premarket after posting fourth quarter revenue of $637.4 million, which was above the estimates of $624.8 million. The cybersecurity company's stock is up 18% year-to-date. It also delivered a record-setting annual recurring revenue of $222 million.

Earnings reports are often big catalysts for a stock's direction. Plus, there's another additional element to trading that's worth tracking. This one is a favorite of our Head Fundamental Tactician Karim Rahemtulla. In fact, his portfolio using this strategy showed a 14% return in 2022.

Click here to learn more about Insider Buying (the legal kind).

 

Stitch Fix (Nasdaq: SFIX)

Stitch Fix is down 9.26% premarket after the online personal styling service's quarterly revenue fell 20% year-over-year to $412.1 million, slightly missing expectations of $413.1 million. The company also announced Dan Jedda will step down as chief financial officer "to pursue another opportunity." As of April 3, the CFO role will be filled by David Aufderhaar, SVP of Finance.

Even when a stock goes down, there are still plenty of ways to profit. For example, put trades are one way to make a winning trade even if the markets plummet, and we've recently taken multiple winners on DIA in The War Room.

Click here to unlock these trades.

 

Diversey Holdings, Ltd. (Nasdaq: DSEY)

Diversey Holdings is up 37.48% premarket after announcing it will be acquired by chemical solutions company Solenis for $4.6 billion. Upon completion of the merger, Diversey will become a private company. Under the agreement terms, Diversey will receive $8.40 per share in cash, which represents a premium of approximately 41% over Diversey's share price on March 7, 2023.

 

Rigel Pharmaceuticals (Nasdaq: RIGL)

Rigel Pharmaceuticals is up 36.73% premarket after its latest quarterly report showed an earnings surprise of 114.29%. It posted revenues of $51.28 million for the quarter ending December 2022, surpassing the Zacks Consensus Estimate by 36.56%. Rigel shares have added about 1.3% since the beginning of the year.

Big pharmaetucial companies have potential for major gains when they discover a breakthrough technology. So it's important to consider these stocks in your portfolio. Our friend Alexander Green has a proven track record for identifying up-and-coming companies. And right now he's telling readers about a powerful medical device group. Elon Musk recently sent its device into orbit, and its backed by a brilliant scientist known for bringing next-generation DNA sequencing to the world today.

Click here to learn more about this cutting edge technology.

 

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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