Healthcare Stock Surges by Nearly 200% 📈

Plus Temu owner PDD fails to hit revenue expectations                                                                                                                                                                                                                                                                                                                                                                                                                 August 26, 2024 | [Read Online]( Healthcare Stock Surges by Nearly 200% 📈 Plus Temu owner PDD fails to hit revenue expectations [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=Healthcare%20Stock%20Surges%20by%20Nearly%20200%25%20%F0%9F%93%88%3A%20Plus%20Temu%20owner%20PDD%20fails%20to%20hit%20revenue%20expectations%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Fhealthcare-stock-surges-nearly-200) Good morning. It’s August 26th, and today we’ll look at legal hurdles facing the biggest grocery store merger in U.S. history and a healthcare stock that is surging by almost 200% before the day’s trade begins. Previous Close 📈 Stocks ended last week on a positive note, boosted by Fed Chair Jerome Powell's indication that interest rate cuts are imminent. Futures Stock futures are nearly flat today as investors see stocks recovering to their previous highs following the Federal Reserve's indication of upcoming rate cuts. What to Watch Daqo New Energy and Viomi Technology will report quarterly numbers before today's opening bell. Data on durable goods orders for July will be released at 8:30 a.m. At 2:00 p.m., San Francisco Fed President Mary C. Daly’s TV interview will be broadcast. HEICO, Tuya, and Senstar Technologies will also share their earnings data after the close of the day's trade. 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A federal judge in Portland, Oregon, will begin hearing arguments today. The FTC is seeking a preliminary injunction to halt the merger while it conducts further investigation. The FTC argues that the merger would reduce competition, potentially leading to higher prices, lower quality, and diminished wages for workers. Kroger and Albertsons counter that the merger would enhance their ability to compete with larger rivals like Walmart by giving them greater leverage with suppliers and enabling them to combine their store brands. Kroger and Albertsons are likely to appeal if the judge grants the preliminary injunction, which could prolong the legal battle. Additionally, both companies have agreed to divest 579 stores in overlapping areas to mitigate antitrust concerns, with C&S Wholesale Grocers set to acquire these locations. The outcome of this legal dispute will have significant implications for the grocery industry, particularly in states like Colorado and Washington, which have independently sued to block the merger. The hearing is expected to continue until September 13. Technology IBM Closes Key China R&D Unit Amid Growing US-China Tensions IBM is closing a significant research and development division in China, according to reports from local media. The move will affect over 1,000 employees. This decision marks the latest withdrawal by a major U.S. company from China’s economy as global tensions and economic challenges in the region mount. The company will shutter two business lines focused on R&D and testing to shift its focus to serving private enterprises and select multinational companies operating in China. This follows a broader trend of U.S. companies scaling back operations in China due to economic downturns, increased regulatory scrutiny, and concerns over Beijing’s preference for local technology firms. IBM’s R&D functions in China will be relocated to other offices, including in Bangalore, India, as part of a broader strategy to adjust its global operations. This move aligns with the company's ongoing efforts to navigate the complexities of the U.S.-China conflict over technology and maintain its global competitive edge. Retail PDD Holdings Misses Revenue Estimates as Consumer Spending Slows PDD Holdings, the parent company of Chinese e-commerce platform Pinduoduo (branded as Temu in the U.S.) reported quarterly revenue short of market expectations, citing weak consumer spending in China. The company posted a revenue of $13.64 billion for the second quarter, which was below analysts' average estimate of $13.94 billion. As a result, PDD's shares are falling by over 13% in premarket trading. Chinese consumers have been tightening their belts due to a fragile economy, ongoing struggles in the property sector, and high unemployment rates, all of which have weighed heavily on the country’s retail and e-commerce sectors. Despite Pinduoduo’s appeal to cost-conscious shoppers with its low prices and steep discounts, the company faces increasing pressure from competitors who are also ramping up their discount offerings. PDD’s Vice President of Finance warned that revenue growth will continue to face challenges due to intensified competition and external economic factors, which could impact the company’s profitability as well. This disappointing performance follows similar trends seen in other major Chinese e-commerce companies. Alibaba and JD.com also reported weak revenue growth in the face of a sluggish domestic market. [Top 10 Stocks to Own Now: Free Report]( We've just released an exclusive report detailing the top 10 stocks to own in 2024. These stocks have been carefully selected after rigorous analysis of their fundamentals, growth potential, and market position. Whether it's a hidden AI gem, a high-yield tech stock, or a consumer giant trading at a discount—this report covers them all. Don't miss out on these opportunities. [Get Your Free Copy of "The 10 Best Stocks to Own in 2024" Now]( (By clicking the links in this message, you are opting in to receive emails from MarketBeat. You are also agreeing to the terms of our privacy policy. Unsubscribe at any time) Movers and Shakers MEDIROM Healthcare Technologies Inc. [MRM] - Last Close: $2.48 MEDIROM Healthcare's stock is surging by 187% in premarket trade. The company announced a significant capital and business alliance between its subsidiary MEDIROM MOTHER Labs and NFES Technologies Inc. on Friday. This alliance involves NFES leading MOTHER Labs' Series A financing round, valuing the subsidiary at 9 billion yen (about $62.5 million) on a pre-money basis. The partnership will promote and distribute the MOTHER Bracelet, a recharge-free smart tracker designed to monitor health, and the MOTHER Gateway, a telecommunication device for remote health monitoring. This strategic move is seen as a major step forward for the company, attracting investor enthusiasm and driving the stock's dramatic rise. My Take: The partnership has strong potential to help the company grow. This is definitely a good stock to keep your eye on. Prestige Wealth Inc. [PWM] - Last Close: $0.75 Prestige Wealth is up by nearly 90% before the opening bell today. The firm announced on Friday that it had acquired Wealth AI, an AI-driven wealth management company, for $4.5 million. This acquisition will likely enhance the company’s technological capabilities in the rapidly growing field of AI-driven wealth management solutions, creating optimism among investors. My Take: Despite the acquisition-driven surge, the stock has not had a great track record, and the company has faced challenges with profitability. It might be best to keep this on your wait-and-watch list for now. MIRA Pharmaceuticals, Inc. [MIRA] - Last Close: $1.85 MIRA Pharmaceuticals is surging by 35% so far in premarket trading. The firm announced last week that it will likely submit its IND application by year-end, including promising preclinical results for its drug Ketamir-2. Ketamir-2 is a novel ketamine analog for neurological disorders. MIRA-55, a marijuana analog that outperforms THC in efficacy without being classified as a controlled substance, has also shown promising results. My Take: The news regarding MIRA-55 and Ketamir-2 is quite positive. Keep this one on your radar. 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[Claim Your Free Report and Start Uncovering Hidden Gems]( (By clicking the links above you agree to opt-in to receive communications from Market Tips) Everything Else - [Telegram CEO]( Pavel Durov has been taken into custody in France. - [Millennium Management]( ended the operations of two index-rebalancing pods in Hong Kong. - The [Dutch watchdog]( fined Uber $324 million for a data protection breach. - The [Israel-Hezbollah]( clash has escalated tensions, but all-out war is unlikely for now. - [Trump’s]( stance on Bitcoin mining sparks new threats to Bitmain’s global dominance. - [Beijing]( denounced U.S. sanctions on Chinese firms for alleged support of the Russian military. - The [FDA]( issued an urgent recall of Walmart’s Great Value apple juice due to arsenic contamination. - The [NAR settlement]( has sparked commission compression, threatening broker margins. That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. 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