Friday, August 18, 2023

Fetch isn't Happening...

Trade of the Day Wake-Up Watchlist

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures were down on Friday. Global shares hit a two-month low while the U.S. government bond yields remain near 16-year highs. However, Jason Da Silva, a director of global investment strategy at Arbuthnot Lathan, said this pullback is healthy after the strong gains earlier in the year.

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

Applied Materials Inc. (Nasdaq: AMAT)

Applied Materials is up 3.16% premarket as semiconductor stocks continue their tug-of-war between AI demand ramping them up and China's issues pulling them back down. Applied materials reported earnings that were better than expected, posting $1.90 per share which was greater than the $1.74 per share expected by analysts at Refinitiv.

China has been quietly trying to monopolize the semiconductor industry for two decades. If the country has its way, it could shut down access to 92% of the world's advanced microchips, which would effectively bring America to its economic knees.

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Farfetch Limited (NYSE: FTCH)

Farfetch is down 39.07% premarket after the luxury fashion retailer posted second-quarter revenue that missed estimates. Revenue came in at $572 million, lower than the consensus estimate of $649 million from Refinitiv. It also posted an overall loss of $281 million.

 

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Ross Stores, Inc. (Nasdaq: ROST)

Ross Stores is up 4.85% premarket after topping earnings forecasts for the second quarter. The discount store company reported earnings of $1.32 per share, better than the $1.16 consensus estimate, per Refinitiv. It also posted revenue of $4.93 billion, which was higher than the expected $4.75 billion.

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Keysight Technologies (NYSE: KEYS)

Keysight Technologies is down 10.80% premarket after the electronic design company offered lower guidance for the fourth quarter. It expects adjusted earnings of $1.83 to $1.89 per share on revenue of $1.29 billion to $1.31 billion.

 

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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