A Tiny Biotech Stock That's Rising By More Than 200% 🚀

July 30, 2024 | [Read Online]( A Tiny Biotech Stock That's Rising By More Than 200% 🚀 [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=A%20Tiny%20Biotech%20Stock%20That%27s%20Rising%20By%20More%20Than%20200%25%20%F0%9F%9A%80%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Ftiny-biotech-stock-thats-rising-200) Good morning. Today is July 30th, and we will be looking at Pfizer and Merck's positive earnings reports, defense contractor Leidos’ higher profits, and why a tiny biotech stock is up by nearly 200% in pre-market trade. Previous Close 📈 All three key indices ended the day on a flattish note. Futures Stock futures are trading slightly higher today in anticipation of key earnings reports. What to Watch It’s going to be a busy morning. Procter & Gamble, Merck & Company, Pfizer, PayPal, and American Tower Corporation will declare their quarterly results before the market opens. At 9:00 a.m., the S&P Case-Shiller Home Price Index will be released, while at 10:00 a.m., we will get both the job openings and consumer confidence data. More heavyweights, including Microsoft, AMD, Stryker, Arista Networks, Mondelez International, and Starbucks, will be sharing their quarterly results after the market closes. Pharmaceuticals Pfizer Raises Profit Outlook After Better COVID Vaccine Sales Pfizer has raised its annual profit forecast, citing stronger-than-expected sales of its COVID-19 vaccine and antiviral treatment. The New Jersey-based pharmaceutical company now anticipates an annual profit in the range of $2.45 to $2.65 per share, up from its previous forecast of $2.15 to $2.35 per share. This positive adjustment comes after Pfizer reported robust performance in its COVID-related products. [This Green-Tech Stock Could Be Ready to Move Higher]( Ready to revolutionize clean energy? Discover a pioneering company transforming battery recycling with groundbreaking technology. Their innovative process efficiently recycles valuable metals from lithium-ion batteries, significantly reducing environmental impact. [Click here to learn all about this stock.]( Pharmaceuticals Merck Exceeds Q2 Expectations With Strong Keytruda Sales Merck & Co reported stronger-than-expected second-quarter results on Tuesday, driven by the impressive performance of its leading cancer immunotherapy, Keytruda. The New Jersey-based company posted a profit of $5.5 billion, or $2.14 per share, a significant turnaround from a loss of $6 billion, or $2.35 per share, a year earlier due to acquisition-related charges. Excluding one-time items, Merck earned $2.28 per share, surpassing analysts' average expectations of $2.15 per share. Quarterly sales reached $16.1 billion, a 7% increase from last year and above the $15.8 billion forecasted by analysts. Keytruda, approved for multiple cancer types, continued to be Merck's top revenue generator, with quarterly sales rising 16% to $7.3 billion, exceeding the anticipated $7.1 billion. Following these results, Merck slightly raised its full-year sales projection to $63.4-$64.4 billion, up from the previous range of $63.1-$64.3 billion. However, the company lowered its full-year earnings forecast to $7.94-$8.04 per share, down from $8.53-$8.65, due to acquisition-related charges. Merck's shares have risen over 17% this year, closing at $127.78 on Monday. Defense Geopolitical Tensions Boost Leidos' Profit Outlook for 2024 Defense contractor Leidos has raised its annual profit forecast for 2024, driven by heightened global demand for weapons and increased defense spending amid rising geopolitical tensions. The company's shares climbed approximately 3.5% in pre-market trading. The ongoing conflict in Ukraine has spurred significant global demand for U.S. weaponry, with countries negotiating new arms deals and accelerating existing contracts. The U.S. Congress's approval of an additional $95 billion in funding in April, aimed at replenishing stockpiles in Ukraine and Israel, has further benefited defense firms. Leidos, based in Reston, Virginia, and a key supplier to the U.S. Department of Defense, is involved in developing advanced weapons, including hypersonic missiles. The company now projects its 2024 per-share profit to be between $8.6 and $9, up from the previous forecast of $8.4 to $8.8 per share. For the second quarter, Leidos reported a profit of $2.37 per share, up from $1.50 per share a year earlier, with quarterly revenue rising 8% to $4.13 billion. Movers and Shakers Imunon, Inc. [IMNN] - Last Close: $1.19 Imunon, Inc., is the biggest gainer in pre-market trade so far today. The clinical-stage biotechnology company will issue a news release today announcing topline results from its Phase 2 OVATION 2 Study with IMNN-001 in patients with advanced ovarian cancer. Investors are hoping for a positive report, which is why the stock has already risen by more than 200% even before the opening bell. My Take: IMNN has grown during the last 6 months and if the news from the study is positive, it might see further gains in the future. You might want to keep this one on your watch list. Alumis Inc. [ALMS] - Last Close $12.78 Alumis is trading at nearly 22% above its previous close in pre-market trade today. The clinical-stage biopharmaceutical company announced that patient dosing has commenced in its ONWARD Phase 3 clinical program. The announcement has caused the stock to rally before the bell. My Take: While the commencement of the Phase 3 program is good news, it might be best to keep this one on the wait-and-watch list for now. F5, Inc. [FFIV] - Last Close: $177.59 Shares of cyber security firm F5, Inc., are up by nearly 25% during pre-market trading. The stock rose sharply after F5 reported better-than-expected third-quarter financial results and raised its FY24 earnings guidance above estimates. F5 reported quarterly earnings of $3.36 per share, beating analyst estimates of $2.97 per share. Quarterly revenue was $695.5 million, better than the consensus estimate of $686 million. My Take: F5 is looking good after its latest results. Keep an eye out for this one if you are itching to enter the cyber security space. Everything Else - [Diageo]( reported its first sales decline since pandemic and shares plunge. - [Eurozone]( GDP grew 0.3% in Q2 despite contraction in Germany. - [Roche]( is fast-tracking obesity drug development amid promising trial results. - [Temasek]( plans major U.S. investments focusing on AI and technology. - [BOJ]( debates interest rate hike timing as the Yen strengthens. - [GoTo]( reported a 3% revenue increase and a lower Q2 loss. - [Tesla]( is recalling 1.8 million cars over crash risks due to a software issue. That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. Best Regards, — Adam Garcia Elite Trade Club [Click here]( to get our daily newsletter straight to your cell for free. P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. 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