Tuesday, August 1, 2023

Double Digit Gains For Networking Group

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 began August in the red. The dip comes off the S&P 500 and Nasdaq finishing their best seven months of a year in decades. The S&P 500 is now up almost 20% so far this year – its best six-month start since 1997. Plus, several big tech companies are due to report earnings this week – including Apple on Friday.

Our Lead Technical Tactician Nate Bear is already getting positioned on big tech stocks like APPL in Daily Profits Live.

Click here to unlock Nate's latest trades in the big tech sector.

 

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

Arista Networks, Inc. (NYSE: ANET)

Arista Networks is up 14.45% premarket after reporting second-quarter results that topped analyst estimates. For the September quarter, Arista predicted revenue in a range of $1.45 billion to $1.5 billion. The upbeat forecast stems from robust demand for its latest 7800 switches from companies like Microsoft and Meta.

 

Nikola Corporation (Nasdaq: NKLA)

Nikola Corporation is up 6.36% premarket after the hydrogen-fuel company received 13 battery-electric cell trucks from Nikola. The latest deal for 10 battery electric trucks is expected to allow Nikola to reduce inventory. It will also help Nikola grow its order book for the sustainable trucks.

 

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Uber Technologies (NYSE: UBER)

Uber Technologies is up 5.36% premarket after forecasting third-quarter operating profit above Wall Street expectations. The ride hailing company is seeing growing demand due to strong leisure travel trends and gradual return to in-office work. Overall, the number of rides after the pandemic is growing.

Our Head Trading Tactician Bryan Bottarelli noticed Uber had a history of upside earnings moves, and yesterday closed a winning trade on the rideshare company in less than 1 trading day.

Click here to unlock more trades like these as earnings season continues in The War Room.

 

Caterpillar, Inc. (NYSE: CAT)

Caterpillar is up 0.68% in premarket after its sales surged. Revenue increased 22% in the second quarter amid higher demand for construction products. Its total revenue increased to $17.32 billion, lifted by higher sales across all three of its major segments.

 

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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