Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures ticked up on Friday. PacWest Bancorp lead a rebound across US regional banking stocks after a bruising week of losses, joining in a broader rally across US stocks futures ahead of jobs data due later today. PacWest's shares gained as much as 26% in premarket trading. We've been riding the latest market uptrend in The War Room. Yesterday we closed two big overnight winners on Qualcomm (QCOM) and Paramount (PARA) for gains of 44.57% and 104.42%, respectively! Click here to start getting in on the action. Here's a look at the top-moving stocks this morning. Carvana (NYSE: CVNA) Shares of Carvana surged 34.03% in premarket trading after the online car retailer announced that it expected to report a profit in the second quarter of 2023 after a string of losses. The company reported that adjusted earnings before interest, taxes, depreciation and amortization would be positive, following a strong start to the year. This may offer investors some relief after a challenging 2022 for Carvana, which has struggled amid rising interest rates and rebounding auto production. CEO Ernest Garcia III said that the company reduced vehicle inventory, cut overheads by $160 million, and aimed to get to positive cash flow. Earlier this week we got positioned on CVNA in The War Room for upside speculation. Click here to unlock that trade. Lyft (Nasdaq: LYFT) Lyft was down 17.12% premarket after the company's Q2 forecast missed expectations, despite better-than-expected quarterly results. Lyft said it expects revenue of $1B-$1.02B and core earnings of $20M-$30M, behind estimates of $1.08B and $49.3N, respectively. Although the price cuts led Lyft to add 10% more riders to its platform in Q1, the company has cut prices to compete with its larger rival, Uber. The company has also announced layoffs, with about a quarter of its workforce set to go. |
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