Tuesday, July 11, 2023

It's Prime Time for This Stock

Trade of the Day Wake-Up Watchlist

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Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures held steady as investors awaited key inflation data. Earlier this morning, a National Federation of Independent Business survey showed market optimism was at a seven-month high in June. However, the labor market is still tight and Fed officials are looking at more rate hikes in the near future.

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

Iovance Biotherapeutics (Nasdaq: IOVA)

Iovance Biotherapeutics is down 12.86% premarket after the pharmaceutical company said it was planning a $150 million public offering of common shares. All of the shares are intended to be sold by Iovance. Iovance is also expected to grant underwriters a 30-day option to purchase an additional $22.5 million of shares of common stock at the public offering price.

 

Amazon.com, Inc. (Nasdaq: AMZN)

Amazon is up 1.05% premarket after it kicked off Prime Day at 3 a.m. eastern time. The stock historically performs better following the end of Prime Day events. At last year's Prime Day, customers bought more than 300 million items, which was a record for Amazon.

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Zillow Group, Inc. (Nasdaq: Z)

Zillow Group is up 3.84% premarket after getting a raise in its rating. Piper Sandler upgraded the stock to Overweight from Neutral and the real-estate-services company saw a $20 raise in its price target on shares.

 

WD-40 Company (Nasdaq: WDFC)

WD-40 is up 4.24% premarket after the cleaning products maker reported fiscal third-quarter earnings higher sales from a year earlier that beat analysts' expectations. The company also reiterated its fiscal-year guidance.

 

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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