This Pharma Stock Is Soaring 90% 📈

August 08, 2024 | [Read Online]( This Pharma Stock Is Soaring 90% 📈 [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=This%20Pharma%20Stock%20Is%20Soaring%2090%25%20%F0%9F%93%88%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Fpharma-stock-soaring-90) Good morning. It’s August 8th, and we’re going to look at Warner Bros. Discovery and Bumble's disappointing results, as well as a tiny pharma stock that’s rallying by 90% in premarket trade. Previous Close 📈 Stocks fell despite an early rally on Wednesday as investors continue to worry about the possibility of a recession. All three indices ended up in the red. Futures Stock futures are stable today after several days of ups and downs. What to Watch Pharmaceutical firm Eli Lilly and fast food giant Restaurant Brands International will share their earnings reports before the opening bell today. Keep an eye out for the Initial Jobless Claims data, which will be released at 8:30 a.m. Later in the day, Richmond Fed President Tom Barkin will give a speech at 3:00 p.m. [7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google]( Growth stocks are attractive because they can deliver substantial returns. Companies that consistently grow revenue and earnings often have broad market support and positive analysts’ sentiment, driving their stock prices higher. This report identifies potential winners for 2024, highlighting stocks that could become the biggest players in their markets. If you haven't considered these seven companies for your portfolio, now is the time to take a look. [Get Your Copy of "7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google" Here]( (By clicking the link above, you will get this free report and a free subscription to MarketBeat's daily email newsletter. You are also agreeing to the terms of our[privacy policy](. Unsubscribe at any time.) Media & Entertainment Warner Bros. Discovery Stock Plummets Following Major Write-Down Warner Bros. Discovery is facing a dramatic 11% drop in premarket trading today following yesterday's disappointing second-quarter earnings announcement. The company revealed a substantial $9.1 billion impairment charge related to its television networks unit. Additionally, its merger-related costs amounted to $2.1 billion, leading to a total financial hit of $11.2 billion for the last quarter. CEO David Zaslav highlighted the challenging market conditions for legacy media companies over the past two years, using it to justify the impairment in order to align the company's valuation with future expectations. CFO Gunnar Wiedenfels noted that several factors, including a weak U.S. ad market and uncertainties in affiliate and sports rights renewals, also influenced the financial adjustments. Despite adding nearly 4 million subscribers to its streaming service, the company's linear TV unit continued to underperform. Revenue for the quarter was $9.7 billion, falling short of the $10.12 billion expected and marking a 6% decline from the previous year. The adjusted loss per share was $4.07, significantly worse than the $0.51 loss from the previous year and below the forecasted $0.21 loss due to the impairment charge. Technology Bumble Stock Plummets as Revenue Forecast Cut Sparks Investor Concerns Bumble’s shares are plummeting by 40% in premarket trading after the dating app revised its annual revenue growth forecast downward yesterday, causing worries about its turnaround strategy. The company now anticipates its full-year revenue to increase by just 1% to 2%, significantly lower than its previous estimate of 8% to 11%. Consequently, Bumble has decided to postpone some of its monetization initiatives, including the rollout of its Premium Plus subscription service, initially planned for later this year. The revised forecast has raised doubts about user uptake after the recent relaunch of Bumble’s primary app and the refresh of its Premium Plus offering amid a sluggish user spending environment. In the second quarter, Bumble's average revenue per paying user dropped to $21.37 from $23.23 in the same period last year. Fast Food Restaurant Brands International Outperforms Q2 Revenue Forecasts Restaurant Brands International, the parent company of Burger King and Tim Hortons, surpassed Wall Street expectations for second-quarter revenue in its earnings report. This is driven by steady demand at its fast-food outlets despite a broader slowdown in the U.S. fast-food industry. Fast-food chains have been aggressively offering discounts and promotions to attract customers amid persistent inflation and high borrowing costs that discourage dining out. Burger King has particularly benefited from the reintroduction of its $5 value meal, preceding a similar move by its competitor, McDonald's. Additionally, investments in store upgrades, equipment, and advertising, as part of a comprehensive turnaround plan, have contributed to its success. Average foot traffic per Burger King location increased by 4.3% in the quarter, a significant rise compared to the 1% increase seen a year earlier. For the second quarter, the firm reported revenue of $2.08 billion, outperforming analysts' average estimate of $2.02 billion. Movers and Shakers Conduit Pharmaceuticals Inc. [CDT] - Last Close: $0.165 Conduit Pharmaceuticals' stock is rallying by more than 90% in premarket trade today. The firm announced today that it is getting $2.65 million in funding through a financing agreement with Nirland Limited. This agreement involves issuing 12.5 million shares of common stock and carries a 12% annual interest rate. Additionally, Conduit has also received a significant patent from IP Australia for a key drug, AZD1656, which provides up to 20 years of protection. My Take: Despite the latest news, Conduit Pharma does not have a good financial track record. It might be best to wait and watch for now. ANEW Medical, Inc. [WENA] - Last Close: $1.09 ANEW Medical's stock is up by 45% so far in premarket trade. The company announced today that it has received important patents in major Asian markets, including China, Hong Kong, and Shanghai. These patents will protect its innovative genetic therapy for treating Alzheimer's Disease (AD) and other neurodegenerative diseases like ALS and Parkinson's. This means ANEW will have exclusive rights to use and develop these therapies in these regions. My Take: Even though the news regarding its patents is good, it would still be better to remain cautious about the stock due to its poor financials. Harrow, Inc. [HROW] - Last Close: $21.98 Harrow's stock is rallying by nearly 35% in premarket trade. The company reported strong financial results for the second quarter of 2024 yesterday. It achieved record revenue of $48.9 million and adjusted EBITDA of $8.8 million. While the company had a net loss of $6.5 million, its cash reserves are strong at $71 million. Key highlights include a significant increase in demand for their eye care products. IHEEZO's customer unit demand nearly doubled, and prescriptions for VEVYE more than tripled compared to the previous quarter. Additionally, its anterior segment revenue grew by over 40%. My Take: The stock has been having a good run since May, and the latest earnings report signal continued momentum. Keep this one on your radar. [40 Years Of Investing Secrets - 1 Free Guide]( Veteran investor Tom Busby's free guide, the Little Black Book, could do two things: First, empower everyday traders to make potentially more profitable choices. Second, it could make the execs on Wall Street absolutely furious. Find out why today! [Click Here to Get Your Free Copy of Busby's Little Black Book, Now!]( Everything Else - [Indian]( stocks outperform their U.S. counterparts, fueled by rate cut speculation. - [Siemens]( sees a profit boost but warns of a cautious investment climate. - [SMIC]( outperforms expectations despite a significant profit decline. - [U.S. travel and leisure]( companies feel the pinch from reduced consumer spending. - [Ukraine's border raid]( prompts mass evacuation and an emergency declaration in Russia. - [Embraer]( saw significant profit growth in Q2 and reconfirmed 2024 outlook. - [Blink Charging]( reported lower-than-expected Q2 sales and earnings. - [Eli Lilly]('s weight-loss drug sales propel a stock surge. 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. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America [[beehiiv logo]Powered by beehiiv]( [Terms of Service](