Futures Fall Ahead of Friday Finale 📉

[Image](www.elitetrade.club) Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Friday! It's January 27th. I hope you have a great weekend. UPDATE: We're working hard to finalize all the details for our BIG announcement. I's are being dotted, T's crossed, and all the details are being squared away. We want everything to be perfect, so we're taking our time to make sure we get everything right. Expect the big news to drop sometime around the middle of next week! Now, let's get ready to trade! Markets 📈 The Nasdaq rallied 1.7% on Thursday after an early-morning GDP report showed the U.S. economy cooled in Q4. The S&P 500 also saw steep gains with a 1.1% rally, and the Dow added 0.6%. The small-cap Russell 2K closed 0.6% higher. Today, futures are down ahead of another big day for earnings. S&P 500 contracts are currently showing a 0.2% loss. Sponsored [261 Dividend Checks Per Year]( 💲 What if this Monday you received a check for $225.63? What would you do with that money? Then, the next day, you collect $86.64. And this goes on and on every single month. There's no trading behind this, no penny stocks or high-risk investments. All you do is buy and hold, and you're set. [Click here to learn more.]( Premarket Highlights 🔎 ❌ Banks Cut Off Bed Bath & Beyond: Embattle home goods retailer Bed Bath & Beyond [BBBY] said it doesn't have the necessary funds to repay its banks after they determined the company defaulted on its credit lines. Major Earnings 💰 Chevron Corporation [CVX] ... AM American Express Company [AXP] ... AM Hca Healthcare, Inc. [HCA] ... AM Colgate-Palmolive Company [CL] ... AM Charter Communications, Inc. [CHTR] ... AM Roper Technologies, Inc. [ROP] ... AM Booz Allen Hamilton Holding Corporation [BAH] ... AM Autoliv, Inc. [ALV] ... AM Gentex Corporation [GNTX] ... AM Badger Meter, Inc. [BMI] ... AM Economy 🏗 Real disposable incomes (SAAR) [Dec] ... 8:30a Real consumer spending (SAAR) [Dec] ... 8:30a PCE price index [Dec] ... 8:30a UMich consumer sentiment index (late) [Jan] ... 10a Pending home sales [Dec] ... 10a Running Hot 🔥 Gainers - Redhill ADR [RDHL] >> +34.7% - Akanda [AKAN] >> +28.5% - Bionomics Ltd ADR [BNOX] >> +18.1% Decliners - ContraFect Corp [CFRX] >> (19.7%) - Air T [AIRT] >> (14.2%) - Cryoport [CYRX] >> (12.8%) American Express [AXP] - Last Close: $155.88 American Express is gaining after an early-morning earnings report. The credit card company delivered strong full-year revenue growth and earnings, but its Q4 figures fell short of analysts' estimates. American Express reported Q4 EPS of $2.07 on sales of $14.18 billion. Wall Street expected $2.22 EPS on sales of $14.22 billion. However, the company's full-year 2022 revenues grew 25% from the previous year, and it generated full-year EPS of $9.85. AXP is moving higher despite the mixed bag of earnings. It's up 5.1% on active premarket volume, making it this morning's top S&P 500 stock. My Take: AXP didn't miss the Street's targets by a very wide margin, and it looks like the market is happy with the company's overall progress. The stock is currently trading above strong resistance at $160 per share after today's rally. BuzzFeed [BZFD] - Last Close: $2.09 BuzzFeed is still running hot in the wake of yesterday's announcement. On Thursday, news broke that the online media firm landed a $10 million content deal with Meta [META]. BuzzFeed closed the session with a 119.8% gain, enough to make it the trading day's number-one performer. There hasn't been any additional news since the Meta story broke, but the momentum from yesterday's rally is carrying into today's session. BZFD is one of this morning's top-performing stocks, with a 33.9% gain in early-premarket trading. My Take: BZFD's big move is beginning to look overdone. Be careful not to get caught holding the bag if share prices pull-back. Sol Gel Technologies [SLGL] - Last Close: $5.01 News of an acquisition is boosting shares of Sol Gel Technologies. The pharma firm announced this morning that it had acquired patidegib, a Phase 3 FDA-breakthrough-designated orphan product candidate. Sol Gel paid PellePharm $4.7 million for the rights, plus up to $6.0 million in development milestones, and up to $64 million in commercial milestones. PellePharm is also eligible to receive single-digit tiered royalties on future drug sales. Sol Gel says a Phase 3 study is expected to initiate in the second half of 2023, with results expected by the end of 2025. The company said the drug could generate peak annual net sales in excess of $300 million. SLGL is trading actively with a 19.4% gain on the news. My Take: The market seems to think SLGL picked up these drug rights at a pretty favorable price. However, the company announced plans for a registered offering shortly after unveiling the drug deal, and news of the offering could cut its rally short. Applied UV [AUVI] - Last Close: $1.04 Applied UV is moving higher after an early-morning announcement. The UV-powered air sanitation company said it has retained legal counsel to investigate the potentially illegal naked short selling of its shares. Applied UV has engaged with a law firm called Herrick, Feinstein LLP to advance the investigation. The company said it believes that "market participants may have engaged in illegal short selling practices" that could adversely affect its share price. Applied UV's newly-retained counsel will "aggressively investigate these activities." according to the company's statement. Shares of AUVI are up 43.2% on the news. My Take: AUVI is making a big move on this news. Share prices have been volatile since the start of the year, but today's rally could put the stock on the right track. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... If you're on the hunt for a new broker, check out our preferred partner, moomoo! You can [get 15 free stocks]( worth up to $2,000 each if you join the moomoo App now. [Click here to get started.]( P.P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 or [click here]( to sign up now and get our watchlists sent directly to your phone! Or text CLOSE to 47121 to get on the mobile alert list for our Closing Bell Roundup report, featuring the day's top winners and losers. *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. 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