Friday, June 14, 2024

Adobe Paints a Profitable Picture with Stellar Earnings!

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! Take a long sip on that frozen machiatto and remind yourself that in 12 hours you'll be poolside, kicking off the weekend! Until then lets get into the premarket action this morning. The indexes are red across the board today, taking a slight downturn after hitting fresh highs throughout the week.

 

Adobe Inc.(Nasdaq: ADBE)

Adobe Inc. is up 14.90% in the premarket this morning. The software company released earnings yesterday and surprised anaylsts with greater than expected EPS of $4.48 a share vs the expected $4.39 and net income of $1.57 Billion vs $1.3 Billion expected. Like with many other software companies Adobe leadership is very focused on leveraging its AI tech to stand out from the crowd and offer their customers powerful unique features.

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RH (NYSE: RH)

RH, the holding company for Restoration Hardware, is down 11.93% in premarket trading this morning after releasing disappointing earnings Thursday evening. With the real estate market on a downturn its no wonder the luxury furniture manufacturer is struggling as well. In fact, one of the few positive highlights of RH's earnings reports was a report that a growing number of competitors are dropping out of the picture as they struggle to find profitability.

Many other investors are pulling their hair out after all these earnings surprises, but we love volatile stocks like RH and ADBE in The War Room. In less than 24 hours, without day trading, our overnight strategy can turn that movement into incredible wins - either way the stock goes. Read more here!

 

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MSC Industrial Direct Co. (NYSE: MSM)

MSC Industrial Direct is down 11.71% in the premarket after missing on its Q2 earnings reported last night after the close. A slight surprise in EPS for the metalworking company did not outweigh the impact of declining net income and sales year over year. That being said, the stock has traded around its 3 year high recently and executives are anticipating more growth in upcoming quarters.

Those are our top moving stocks in the premarket.

Happy trading!

The Wake-Up Watchlist Research Team

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