A Biotech Stock with Massive Potential... 🔥

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. It's Tuesday, May 9th. I hope you have a great day in the market. Now, let's get ready to trade! Markets 📈 US benchmarks ended Monday's session with mixed results. The Dow fell 0.1%, while the S&P 500 notched fractional gains, and the Nasdaq added 0.1%. The Russell 2K lost 0.2% on the session. Futures are down in today's premarket. Dow and S&P 500 contracts are both showing 0.3% losses in early-morning trading. . Sponsored [A Biotech Stock with Massive Potential… 🔥]( If you’re not already aware… The biotech market can offer investors the potential to create outsized fortunes. And it's our #1 Biotech Stock for 2023. Don’t miss this opportunity. Get all the details on the next page. [Get all the details here]( Premarket Highlights 🔎 ⚪ None What to Watch Today? 👀 Earnings Fallout Recent reports from PayPal, Palantir, and other major companies have the market's attention heading in Tuesday's session. After the closing bell, we'll hear from Airbnb, Electronic Arts, and others. It's shaping up to be a quiet news week, so these reports could set the tone for today & tomorrow's trading sessions. Major Earnings 💰 Duke Energy Corporation (Holding Company) [DUK] ... AM Air Products And Chemicals, Inc. [APD] ... AM Transdigm Group Inc. [TDG] ... AM Apollo Global Management, Inc. (New) [APO] ... AM Globalfoundries Inc. [GFS] ... AM Royalty Pharma Plc [RPRX] ... AM Airbnb, Inc. [ABNB] ... PM Occidental Petroleum Corporation [OXY] ... PM Electronic Arts Inc. [EA] ... PM Coupang, Inc. [CPNG] ... PM Economy 🏗 Fed Gov. Philip Jefferson speaks ... 8:30a New York Fed President Williams speaks ... 12:05p Running Hot 🔥 Gainers - Mobiquity Tech [MOBQ] >> +29.8% - Ricebran Tech [RIBT] >> +33.2% - Glory Star New Media [GSMG] >> +32.3% - Maris Tech [MTEK] >> 32.1% Decliners - Ohmyhome [OMH] >> (39.7%) - Lexaria Biosciences [LEXX] >> (25.1%) - Enanta [ENTA] >> (20.4%) - Trevena [TRVN] >> (17.0%) Palantir [PLTR] - Last Close: $7.74 Palantir is rallying after an unexpectedly strong earnings release. After Monday's close, the data giant posted a surprise profit of $0.01 per share on its Q1 report, topping the conensus estimate of a $(0.01) per share loss. Palantir's Q1 revnues grew 18% YoY to $525.2 million for the quarter, which also beat the Street's $505.9 million estimate. The company also announced new full-year 2023 revenue guidance that surpassed analysts' expectations. PLTR is up 15.6%, and it's trading actively in the premarket. My Take: PLTR has been trading sideways for the past three months, but this unxpected profit could help it break into a new trading range. ClearOne [CLRO] - Last Close: $1.24 A big announcement is boosting shares of ClearOne. Late Monday, the videoconferencing company announced a special one-time cash dividend of $1 per share, payable to shareholders of record on May 22nd. ClearOne said the dividend will be paid on May 31st. The company cited "successful legal settlements" that have "generated surplus cash for the company" as the reason for the special, one-time payment. CLRO is trading actively with a 66.3% gain on the news. My Take: This is a one-time dividend play, so shares of CLRO could pullback immediately after the dividend is paid out. Don't try to get cute with this one or you could get burned. ERYTECH Pharma SA [ERYP] - Last Close: $0.80 Erytech Pharma is on the rise after a business update. The France-based biopharma firm released a business and financial update for Q1 early this morning. The report touched on several points, including the company's financial position and the progress of a previously announced merger with Pherecydes. A shareholder vote on the merger is expected to occur in June 2023. The company also provided new details on a hostile takeover attempt from Akkadian Partners, which the firm is pushing back against. ERYP is up 61.2% on active premarket trading volume in response to the update. My Take: I'm not sure which part of this report cause the rally in ERYP, but there were certainly some interesting details revealed. I think the merger is the driving force behind the move, so the shareholder meeting in June could be worth watching. Synlogic [SYBX] - Last Close: $0.56 An FDA decision is giving Synlogic a big boost in today's premarket. This morning, the sythentic biotech firm announced the FDA had awarded an Orphan Drug Designation (ODD) to SYNB1934 to treat phenylketonuria (PKU). A Synlogic rep said the decision came at a "pivotal time," as the company is currently preparing to initiate Phase 3 trials of SYNB1934 for PKU patients. The ODD designation entitles Synlogic to tax credits for clinical trials, user fee exemptions, seven years of market exclusivity, and other perks. SYBX is up 25.7% on the heels of the news. My Take: The ODD could be the prelude to an eventual approval, and SYBX is currently trading near its 52-week low. This could be a promising swing trade setup, especially if SYNB1934 gets full approval. 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! 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