Wednesday, August 9, 2023

Are You Not Entertained?!

Trade of the Day Wake-Up Watchlist

Good morning, Wake-up Watchlisters! While you are wrapping up that last summer vacation before school starts, lets take a look at the premarket movers. Stock futures are positive this morning as everyone looks to recover from the selloff earlier in the week after Moody's downgrade of several regional banks. CPI numbers come out on Thursday, and Disney posts earnings after the close today let's hope for the best from both!

In other news our Lead Technical Tactician Nate Bear just set out to change the game, with his one ticker payouts. He's got a plan to capture big weekly profits in 2023, trading only one stock. This strategy could have turned $1,000 into $27,140 in just 10 days!

Find out how it works here.

 

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

Penn Entertainment (Nasdaq: PENN)

Penn Entertainment was up 16.79% premarket after reaching a 10-year deal with ESPN and Disney. The Barstool Sportsbook app will be rebranded as "ESPN Bet" this fall. As part of the deal Penn will pay ESPN $1.5 billion over the 10 years. Barstool founder David Portnoy will now once again own 100% of the company after Penn divested its stake. Rival sports betting app DraftKings (DKNG) nearly made our daily premarket losers list dropping over 5% this morning after the deal was announced.

 

Lyft Inc. (Nasdaq: LYFT)

Lyft was down 7.7% premarket after posting adjusted earnings last night that didn't show the potential for growth that shareholders were hoping for. While the ride hailing company saw a second quarter EPS of 16 cents, much better than the predicted loss of 1 cent, the stock's growth is predicted to slow dramatically in the fourth quarter. Investors are simply not convinced that Lyft can take on Uber. Are you? What are your thoughts on the battle between the great ride share companies? Let us know here!

Yesterday Bryan made an overnight trade on Lyft in The War Room, he made a bet that shares were going to move drastically this morning. He nailed it again! Stop missing out on trades like these, join The War Room now.

 

Twilio (NYSE: TWLO)

Twilio was up 7.36% premarket on news that things aren't as bad as they may seem. The communications software platform released less-negative earnings than expected last night with a loss of only $166.2 million or $0.91 a share vs the loss of $1.77 seen last year. Revenue is up, active accounts are up, and forward guidance suggests that the company could be making up to $50 million more than expected this year.

 

Upstart Holdings (Nasdaq: UPST)

Upstart Holdings was down 18.71% premarket after the company released a mixed earnings report. While the AI lending company's EPS surprised analysts by 200%, that's simply not enough for investors these days, lagging revenue and future earnings expectations are really putting a damper on the share price. With the banking world in flux right now there is a ton of pressure on new-aged lenders bringing more than just fancy tricks and an "AI" label to the table.

 

Those are the top movers for the morning, happy trading!

The Wake-Up Watchlist Research Team

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