Sezzle Inc (SEZL) and Heritage Insurance Holdings Inc (HRTG) are two financial stocks currently showing signs of being overbought, according to the Relative Strength Index (RSI). This indicator suggests potential short-term price corrections, raising concerns for momentum-focused investors.
Shares of Rumble Inc. (RUM) jumped in pre-market trading after the company reported better-than-expected second-quarter financial results. Other notable pre-market movers include Vicinity Motor Corp. (VEV), MKDWELL Tech Inc. (MKDW), and CXApp Inc. (CXAI), all showing significant gains. On the downside, Syros Pharmaceuticals, Inc. (SYRS) and SunPower Corporation (SPWR) experienced sharp declines.
This article highlights several stocks that are likely to attract investor attention on Tuesday, based on anticipated earnings reports and recent developments. Key companies include Home Depot, RumbleOn, Paysafe, Kyverna Therapeutics, and XP Inc.
Shares of Koninklijke Philips N.V. (PHG) surged in pre-market trading today following the release of its impressive first-quarter results. The company also reached a resolution in the respironics personal injury and medical monitoring litigation in the US, with a settlement of $1.1 billion. As a result, PHG stock skyrocketed by 37.1% to $28.87 during pre-market hours.
Apart from Philips, numerous other companies experienced significant stock movements in the pre-market. Inno Holdings Inc. (INHD) saw a remarkable 33.8% gain, climbing to $0.8410. Ryde Group Ltd. (RYDE) followed closely with a 25.9% rise to $4.18 after facing an 8% dip on Friday. Akanda Corp. (AKAN) also performed well, advancing by 21.4% to $0.1250, continuing its trend from Friday when it gained over 12%.
Ocean Biomedical Inc. (OCEA) surged by 15.7% to $1.55, extending its 7% gain from Friday. Wisekey International Holding AG – ADR (WKEY) witnessed a 15.2% increase, reaching $2.36, attributed to its subsidiary, WISeSAT.Space, strengthening its partnership with the Swiss Armed Forces in the space domain.
SolarBank Corp (SUUN) gained 14.1% to $6.78, while Fulton Financial Corporation (FULT) jumped by 10.8% to $17.30. This follows the acquisition of Republic First Bancorp by Fulton Bank, a subsidiary of Fulton Financial Corp. ImmunityBio, Inc. (IBRX) shares increased by 10.6% to $8.13, buoyed by its Friday surge of around 44% after announcing favorable overall survival results from its QUILT 3.055 study.
Tesla, Inc. (TSLA) also saw a 7.3% pre-market gain, reaching $180.54. However, it was reported that Tesla plans to lay off 693 employees in Nevada as part of its earlier announced 10% workforce reduction. The company also increased the price of its new Model 3 Performance in the US by $1000 shortly after its launch.
On the declining side, Bakkt Holdings, Inc. (BKKT) plunged by 92.2% to $0.78 due to its recently announced 1-for-25 reverse stock split. Clever Leaves Holdings Inc. (CLVR) shares experienced a 56.8% drop to $1.78 following the announcement of voluntary delisting of common shares and SEC deregistration.
Addex Therapeutics Ltd (ADXN) faced a 50.3% decline to $7.99 in pre-market trading due to the lack of statistical significance in its ADX71149 Phase 2 epilepsy study. iSun, Inc. (ISUN) fell by 18.9% to $0.1362, and Boqii Holding Limited (BQ) dropped by 16.7% to $0.25 after gaining 6% on Friday.
NuZee, Inc. (NUZE) saw a 16% decline to $1.37, Cyclacel Pharmaceuticals, Inc. (CYCC) fell by 13.3% to $1.30, and Biodexa Pharmaceuticals Plc (BDRX) decreased by 12.3% to $1.14. Nature Wood Group Limited (NWGL) lost 11.8% to $4.45, and mF International Limited (MFI) declined by 10.3% to $2.09 following its previous 78% dip on Friday.
U.S. stocks rallied on Friday, with the Dow Jones Industrial Average rising over 150 points. Skechers U.S.A. (SKX) led the gains, with shares surging 16% after the company reported better-than-expected first-quarter earnings. Other notable gainers included Universal Logistics Holdings (ULH), Exponent (EXPO), Snap (SNAP), Tutor Perini Corporation (TPC), and U.S. Silica Holdings (SLCA).
U.S. stocks finished with a mixed performance on Wednesday as the momentum eased after sharp movements. The S&P 500 remained nearly unchanged, while the Dow Jones Industrial Average slightly declined. On the other hand, the Nasdaq composite managed to edge higher. Tesla’s jump of 12.1%, driven by plans for affordable vehicle production, overshadowed its 55% profit drop. Focus remains on the “Magnificent Seven” stocks’ earnings reports, with the hope of broader profit growth. A strong economy may support corporate profits, but rising Treasury yields continue to exert pressure on stock prices.
U.S. stocks rallied on Tuesday, boosted by strong earnings from General Motors and anticipation of upcoming results from tech giants like Tesla, Microsoft, and Alphabet. The S&P 500 gained 1.2%, the Dow rose 0.69%, and the Nasdaq jumped 1.59%. Tesla’s mixed earnings report lifted its shares in after-hours trading. Data indicated a slowdown in U.S. business activity and a slight easing of inflation, offering some optimism for moderation in price increases. Investors await the release of the PCE inflation gauge on Friday. Despite weaker economic indicators, the market interpreted them as positive signals, suggesting excessive hawkishness in Fed expectations. Spotify and GE Aerospace impressed with strong performance, while JetBlue’s revised revenue forecast led to a significant decline in its shares.
As we enter the second half of the year, the Investment Committee has released its top stock picks to watch. These stocks have been carefully selected based on their strong fundamentals, growth potential, and expected performance in the coming months. If you’re looking to make smart investment decisions for the rest of 2023, these stocks are definitely worth considering.
Stocks rallied broadly on Tuesday, extending Monday’s rebound, as lower-than-expected economic data fueled expectations of a potential Federal Reserve rate cut by summer’s end. Market participants parsed the S&P Global’s Purchasing Managers’ Index (PMI) for April, which pointed to a slowdown in private sector growth and eased inflationary pressures. The probability of a Fed rate cut by September jumped to 72%, prompting optimism in the markets. Corporate earnings have also largely exceeded estimates, with investors awaiting results from Visa and Tesla after market close. By midday, the S&P 500 had gained 1.2%, on track for its best performance in over a month. The Nasdaq 100 outpaced the broader market with a 1.5% rise, while the Dow Jones Industrial Average advanced by a more modest 0.6%.
A list of the most popular and highly searched stocks in the Indian market, including Leg Up SBI Life, LIC, Infosys, Hindustan Unilever, HCL Technologies, NTPC, and Adani Ports.
