Friday, April 26, 2024

Tech Roars Back...

Trade of the Day Wake-Up Watchlist

Good Morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures were up on Friday after big earnings from Google and Microsoft. The strong reports were a win for investors after concerns of an overvalued tech sector. Now focus will shift to the PCE report which should clue investors in on US inflation data.

No matter what the PCE says, we have winning strategies for huge potential gains at Monument Traders Alliance. Earlier this week in Daily Profits Live, our Lead Technical Tactician Nate Bear noticed a 75% short float on RILY. Nate got positioned, and the stock was up over $30 in premarket trading on Wednesday. Nate ended up closing the trade for a whopping 1,130% gain in 1 trading day.

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

Alphabet, Inc. (Nasdaq: GOOG)

Alphabet is up 11.70% in premarket trading after first-quarter revenue exceeded analysts' expectations. The boost came from growth in its cloud computing unit. Total revenue came in at $67.8 billion for the three months ending on March 31, surpassing the $66.1 billion expected. The tech giant also said it would pay a dividend of 20 cents per share, its first ever.

Tech stocks ties to AI have shown the potential for big gains. And this week we hit our 10% profit target on another tech stock, VRT, in our Trade of the Day Plus portfolio.

Click here to unlock that portfolio in Catalyst Cash-Outs.

 

Boyd Gaming Corporation (NYSE: BYD)

Boyd Gaming is down 12.55% in premarket due to significant non-cash impairment charges reported in their latest earnings. The company recorded $103.3 million in charges, which largely contributed to a reduction in their net income for the quarter. It cited severe weather in January and increased competition as the main reasons for the drop.

 

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Teledoc Health (NYSE: TDOC)

Teledoc is down 3.98% premarket primarily due to its Q1 financial results which showed a wider-than-expected loss. The company reported a loss of $0.47 per share, which was larger than the analysts' average expectation of a $0.46 loss per share. Additionally, Teladoc provided revenue and earnings guidance for the next quarter that were below consensus estimates.

Yesterday our Head Trading Tactician Bryan Bottarelli got positioned on TDOC in The War Room.

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ResMed (NYSE: RMD)

ResMed is up 11.57% in premarket trading primarily due to positive results in their latest earnings report. The San Diego-based respiratory device maker reported profits of $300.5 million. That equals $2.04 per share on sales of $1.197 billion for the quarter ended March 31, 2024. Increased demand for its sleeping device was a big contributor to profits.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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