4 Hot stocks to watch today 🔥

Futures are down in early trading, but these tickers are running hot.                                                                                                                                                                                                                                                                                                                                                                                                                 May 29, 2024 | [Read Online]( Good Morning! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Let’s get ready to trade! Markets 📈 Stocks opened the holiday-shortened trading week with a mixed performance on Tuesday. The Dow fell, while the Nasdaq closed at a new record high for the second session in a row. - Dow [-0.5%] - S&P 500 [<0.1%] - Nasdaq [+0.5%] - Russell 2K [-0.1%] Futures are edging lower as we approach the opening bell. S&P 500 contracts are down by about 0.6%. What to Watch Today: It’s a quiet day for earnings & economy, so it could be a quiet session for stocks. However, the Nasdaq and S&P 500 are hovering around record highs, so the next days and weeks could be crucial for their long-term trajectory. If stocks can keep pushing higher, they could find new support at higher trading ranges. [This Stock Could Cash-In on 2024’s Top Commodities Trade]( This stock could break out to massive gains on the back of what could be the year’s top-performing asset. It’s not gold, it’s not silver - heck, it’s not even AI stocks. It’s crucial to the success of AI and other advanced technologies, and this tiny stock could be in ideal position to cash in. [Get the Details on this Top Pick Here]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 ConocoPhillips to Acquire Marathon Oil in $17.1 Billion Deal 💼 ConocoPhillips has agreed to purchase Marathon Oil in an all-stock transaction valued at $17.1 billion, a move aimed at bolstering its shale assets amid a major wave of consolidation in the oil and gas industry. Strategic Acquisition 📈 “This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low-cost of supply inventory adjacent to our leading U.S. unconventional position,” said ConocoPhillips CEO Ryan Lance in a statement. Expanding Reach 🌍 The deal will add 2 billion barrels of resources to ConocoPhillips’ portfolio, significantly extending its reach across key shale fields in Texas, New Mexico, and North Dakota. This acquisition is expected to enhance the company's operational footprint and resource base in these critical regions. Immediate Impact 💰 Lance highlighted that the acquisition would immediately boost ConocoPhillips’ earnings, cash flow, and shareholder returns once it closes in the fourth quarter. The company plans to execute share buybacks worth $7 billion in the first year after the deal is completed and $20 billion over the first three years, indicating strong confidence in the financial benefits of the merger. Market Reaction 📊 Following the announcement, ConocoPhillips’ stock fell by 3.3% in early trading, while Marathon Oil shares surged 7.3%. This contrasting market reaction reflects investor sentiments on the strategic value and financial impact of the acquisition. Industry Consolidation 🌊 ConocoPhillips' acquisition of Marathon Oil marks the latest in a series of significant mergers within the U.S. oil sector. Recently, Exxon Mobil's $60 billion acquisition of Pioneer Natural Resources received approval from the Federal Trade Commission, and Hess Corporation shareholders voted to proceed with a $53 billion merger with Chevron. These moves signify a broader trend of consolidation as major players seek to strengthen their positions in a transforming industry. Featured Earnings 💰️ - Dick's Sporting Goods [DKS] ... AM - Abercrombie & Fitch [ANF] ... AM - Salesforce [CRM] ... PM - Agilent Technologies [A] ... PM - HP [HP] ... PM - Pure Storage [PSTG] ... PM - Nutanix [NTNX] ... PM - Okta [OKTA] ... PM - U-Haul Holding Company [UHA] ... PM - UiPath [PATH] ... PM Economy 🏗 - Fed Beige Book ... 2:00p Running Hot 🔥 Gainers - Cheche Group [CCG] >> +51.1% - New Horizon Aircraft [HOVR] >> +16.5% - Banzai Intl. [BNZI] >> +31.2% Decliners - Cue Health [HLTH] >> (42.6%) - Sharps Technology [STSS] >> (37.7%) - Aerwins Tech [AWIN] >> (39.8%) Siyata Mobile [SYTA] - Last Close: $1.50 Siyata Mobile won a deal to supply Ohio’s City of Lancaster Public Utilities Dept. with its SD7 push-to-talk over cellular devices system. The deal includes handsets, as well as VK7 vehicle kits and related accessories. Financial terms weren’t disclosed. SYTA is up 62.0% on more than 12 million shares traded in response to the news. My Take: SYTA has been experiencing significant volatility as of late. This move could be a the result of a rebound from its recent pullback. ReShape Lifesciences [RSLS] - Last Close: $0.2078 This micro-float biotech just received a notice of allowance for its U.S. patent application titled “INTRAGASTRIC DEVICE (FOR TREATING OBESITY)” The approval is contingent on the company paying a fee by Aug. 26th, 2024. RSLS is up 139.9% on over 30 million shares traded. My Take: RSLS is getting a boost from the ozempic bulls. However, this treatment doesn’t appear to be as innovative as the weight loss drug, so there could be more hype behind this rally than substance. Brand Engagement Network [BNAI] - Last Close: $1.27 This micro-cap AI company is surging after appointing a new co-CEO and closing a $4.95 million public placement. Brand Engagement Network completed its private placement priced at a premium to the market, and promoted Paul Chang to co-CEO. BNAI is up 46.4% on 2 million shares traded. My Take: BNAI has seen a modest increase in volume over the past few days, and its above-the-market offering could help it break into a new trading range. Scorpius Holdings [SCPX] - Last Close: $0.1119 An upbeat financial update is rallying shares of contract development & manufacturing company Scorpius Holdings. Scorpius reported a 359% YoY spike in revenues in Q1 while reducing operating expenses by 34% over the same time last year. It also reported a $10.8 million revenue backlog as of March 31st, 2024. SCPX is up 40.9% on more than 50 million shares traded. My Take: SCPX is down by roughly 75% in 2024, but it could be in the early phases of a turnaround, with share prices up by roughly 40% over the past 10 days before factoring in today’s gains. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. Elite Trade Club Text ELITE to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign up for SMS]( [Privacy Policy]( | [Advertiser Disclosure]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. 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