Futures Down Ahead of New Earnings Data 📉

[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. Today is Tuesday, April 25th. I hope you have a great day. Now, let's get ready to trade! Markets 📈 Stocks opened the trading week with a lackluster trading session on Monday. The Dow added 0.2%, and the S&P 500 gained less than 0.1%. The Nasdaq fell 0.2%, and the Russell 2K slid to a 0.1% loss. Futures are down in early premarket trading. S&P 500 contracts are down 0.4%. Sponsored [A Crash Proof Portfolio?]( If you're worried "transitory" inflation and "mild" recession will be worse than expected... You're not alone. BUT one asset 99% of investors miss helps protect your portfolio and has outpaced the S&P by 131% over the past 26 years. Art. Historically, you've needed millions to invest, but one platform lets you buy shares in famous paintings for as little as $20! [Skip the waitlist and join Masterworks today with this private link.]( Premarket Highlights 🔎 📉 First Republic Earnings Spark Investor Anxieties First Republic Bank [FRC] released its earnings report on Monday, and the results showed customers withdrew roughly $100 billion from the bank since a crisis sparked at the bank several weeks ago. The news reignited investors' fears that public anxiety towards the regional banking sector could result in bank runs and other problems. Major Earnings 💰 McDonald's Corporation [MCD] ... AM Danaher Corporation [DHR] ... AM United Parcel Service, Inc. [UPS] ... AM Nextera Energy, Inc. [NEE] ... AM Verizon Communications Inc. [VZ] ... AM Raytheon Technologies Corporation [RTX] ... AM Microsoft Corp. [MSFT] ... PM Alphabet Inc (Google) Class C [GOOG] ... PM Visa Inc. [V] ... PM Texas Instruments Incorporated [TXN] ... PM Economy 🏗 - S&P Case-Shiller home price index (20 cities) [Feb] ... 9:00a - FHFA home price index [Feb] ... 9:00a - New home sales [Mar] ... 10:00a - Consumer confidence [Apr] ... 10:00a Running Hot 🔥 Gainers - Zerofox Holdings [ZFOX] >> +24.7% - Agrify Corp [AGFY] >> +30.1% - CXApp [CXAI] >> +22.1% Decliners - TRACON Pharma [TCON] >> (47.2%) - Vyant Bio [VYNT] >> (41.8%) - Appreciate [SFR] >> (16.5%) Morphic Holding [MORF] - Last Close: $43.53 Morphic is rallying after a clinical update. The company released positive topline results from the EMERALD-1 UC main cohort of orally administered MORF-057. MORF-057 achieved its primary endpoint and demonstrated clinically meaningful improvements across secondary and exploratory measures. Morphic's financial results were less impressive. The company missed consensus estimates for earnings and revenues. However, investors are more focused on the drug data, as shares of MORF are up 38.9% in the premarket. My Take: MORF is on pace to breakthrough a key resistance point. This could be the beginning of a positive trend. Medpace Holdings [MEDP] - Last Close: $187.26 Upbeat earnings results are boosting shares of Medpace Holdings. The clinical research firm reported better than expected earnings and revenues on its Q1 earnings report. Medpace reported Q1 EPS of $2.27 per diluted share, up from $1.69 a year earlier, and topped the consensus of $1.82. Revenues of $434.1 million also jumped from last year's $330.9 million figure and beat analysts' $420.8 million target. Medpace's 2023 guidance also topped the Street's target. MEDP is up 21.1% in the premarket. My Take: MEDP could find new support at the $225 mark if it can maintain today's rally. Virios Therapeutics [VIRI] - Last Close: $0.6253 Virios Therapeutics is moving higher on a drug update. The initial FDA feedback on its proposed Phase 3 FM program summary for IMC-1, an experimental fibromyalgia treatment. Initial feedback from the FDA said the proposal was acceptable, subject to review of final results from recent toxicology reports and associated data. Virios said an updated IMC-1 Phase 3 program incorporating FDA guidance will be available once the agency completes its review. News of the positive regulatory progress is boosting shares of VIRI. Shares are up 82.3% on active premarket trading volume. My Take: IMC-1 could be on track for a full approval in the weeks ahead, and it could result in another rally catalyst for VIRI. Spectrum Pharmaceuticals [SPPI] - Last Close: $0.6905 Spectrum is soaring on news of a buyout deal. Assertion Holdings [ASRT] has agreed to acquire the company in an all-stock and contingent value right (CVR) deal valued at approximately $291 million. SPPI shareholders will receive 0.1783 shares of ASRT in exchange for each of their common shares, implying a value of $1.14 per Spectrum share. Shareholders will also receive a CVR valued at $0.10 per common share payable upon ROLVEDON net sales achieving $175 million in 2024. The deal represents a 65% premium to SPPI's April 24th stock price. SPPI is up 34.5% and its one of this premarket's most actively traded stocks. My Take: There is still some potential upside on SPPI's buyout deal, but it's hard to predict whether you're getting a good deal when it's an all-stock deal. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 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. 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