Wednesday, June 26, 2024

Punch Buggy Takes Action

Trade of the Day Wake-Up Watchlist

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Good Morning Wake-Up Watchlisters! Fire up the punch buggy because there's some vehicle stocks that are pumping in premarket trading. Below you'll see stock futures rose slightly on Wednesday, with the S&P 500 and Nasdaq ending their respective losing streaks. Nvidia once again played a role in the boost. Now investors will shift their attention to new inflation data on Friday.

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

Rivian Automotive (Nasdaq: RIVN)

Rivian Automotive is up 33.61% in premarket trading after entering a $5 billion deal with Volkswagen AG. The move is Volkswagen's latest attempt to keep up with Tesla. The deal will give the German carmaker access to the U.S. electric vehicle's technology. Volkswagen will make an initial $1 billion investment and as much as $4 billion over time. Rivian's smaller rival Lucid Group was also up 8% in premarket trading.

 

General Mills (NYSE: GIS)

General Mills is down 4% in premarket trading after the cereal maker posted a bigger-than-expected drop in quarterly sales. The company's net sales fell to $4.71 billion from $5.03 billion a year ago.

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

Click here to see how Bryan's overnight trading could double your money if a stock goes up or down.

 

Nvidia (Nasdaq: NVDA)

Nvidia is up 2.1% in premarket trading. It was another rebound day after the world's top chipmaking company jumped 6.8% yesterday and got its market cap value back over $3 trillion.

It's no secret Nvidia has been a major contributor to market well being over the past year, but there's also an under-the-radar AI startup that could dominate the potential $25.6 trillion per year AI market.

Click here to see how this company could surge 4,735% in 12 months.

 

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Aptiv (NYSE: APTV)

Aptiv PLC is down 7.43% in premarket trading after the stock was downgraded to Underweight from Neutral by analysts at Piper Sandler following the news of Rivian and Volkswagen partnership.

FedEx (Nasdaq: FDX)

FedEx is up 14.28% in premarket trading after the shipping and logistics company reported earnings that were ahead of Wall Street expectations. The company now sees fiscal-year adjusted earnings between $20 and $22 per share, while analysts were projecting $20.92.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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