Don't miss these red-hot premarket stocks 🔥

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Tuesday, May 23rd. I hope you had a great weekend. Now, let's get ready to trade! Markets 📈 The Dow fell 0.4% on Monday, while the S&P 500 notched a fractional gain of less than 0.1% and the Nasdaq added half a point. The Russell 2K outperformed with a 1.2% rally. Futures are edging lower heading into today's premarket. Dow and S&P 500 contracts are down about 0.1%. Sponsored [Will These 5 Stocks Explode? 💣]( Our analysts say these 5 Microcap Stocks are poised to soar after their Q2 earnings announcement. [Click Here to Get the Names of All 5 Stocks.]( Premarket Highlights 🔎 💬 Biden and McCarthy Hold "Productive" Debt Ceiling Meeting Speaker of the House Kevin McCarthy and Pres. Joe Biden met again on Monday in what they described as their most productive meeting yet. McCarthy said the tone of the meeting was "better than any other time we've had discussions." The two have also appeared to make some headway in talks, as both sides are now emphatic that a default is off the table. What to Watch Today 👀 New Economic Data Today's premarket will feature new data on the U.S. manufacturing & services sector in the form of the S&P flash U.S. services & manufacturing PMI reports. Investors should watch this data closely because it could influence the Fed's next interest rate decision. Major Earnings 💰 Lowe's Companies, Inc. [LOW] ... AM Autozone, Inc. [AZO] ... AM Dick's Sporting Goods Inc [DKS] ... AM BJ's Wholesale Club Holdings, Inc. [BJ] ... AM Vipshop Holdings Limited Dr [VIPS] ... AM Williams-Sonoma, Inc.[WSM] ... AM Intuit Inc. [INTU] ... PM Palo Alto Networks, Inc. [PANW] ... PM Agilent Technologies, Inc. [A] ... PM V.F. Corporation [VFC] ... PM Economy 🏗 - S&P flash U.S. services PMI [May] ...9:45a - S&P flash U.S. manufacturing PMI [May] ... 9:45a - New home sales [Apr] ... 10:00a Running Hot 🔥 Gainers - SeqLL [SQL] >> +39.2% - Applied UV [AUVI] >> +29.8% - Movella Holdings [MVLA] >> +20.8% - Lifecore Biomedical [LFCR] >> +21.8% Decliners - Kaspien Holdings [KSPN] >> (34.2%) - Microvast Holdings [MVST] >> (23.1%) - Evolve Transition [SNMP] >> (23.2%) - Lordstown Motors [RIDE] >> (16.3%) PacWest Bancorp [PACW] - Last Close: $6.85 PacWest Bancorp just announced a major asset sale. On Monday, the embattled U.S. bank said it would sell $2.6 billion worth of its loan portfolio to build capital, calming jittery investors. The decision came as a result of a strategic review announced earlier this month, and several analysts upgraded their rating on PACW in response to the news. In total, the bank will sell 74 real estate construction loans with a combined balance of $2.6 billion to Kennedy-Wilson Holdings at a $200 million discount. PACW is up 19.4% in today's premarket after gaining 19.5% on Monday. My Take: PACW is still trading well below its previous highs. It will take more than a relatively minor asset sale to scare the bears away from this one. Icosavax [ICVX] - Last Close: $7.87 Icosavax is rallying after an early-morning clinical update. The biopharma firm said its IVX-A12 vaccine candidate showed "robust immune responses" in a Phase 1 trial in older adults. Icosavax said the vaccine produced responses among both respiratory syncytial virus and human metapneumovirus in the clinical trial. The vaccine was also well tolerated across all dosage groups as of day 28, with no serious adverse events report up to this point. CEO Adam Simpson said the companby is shooting to launch a Phase 2 trial among older adults in mid-2023. The upbeat drug data lifted ICVX to an 18.1% gain in today's premarket. My Take: ICVX could be on to something here, and the chart appears to be pretty favorable. The stock's elevated short ratio also leaves the door open for a potential squeeze. ICVX could have swing trade potential. Heartcore Enterprises [HTCR] - Last Close: $1.28 A new round of earnings data is boosting shares of Heartcore Enterprises. The software firm reported better-than-expected Q1 results after Monday's close, and shares are edging higher ahead of the open. Heartcore reported quarterly EPS of $0.10 against the consensus estimate of a $(0.03) per share loss. The company's Q1 revenues grew by 283.7% from a year earlier to $8.73 million, crushing the consensus of $3.0 million by 191.1%. HTCR is one of this morning's top premarket performers, with a 42.9% gain on the earnings beat. My Take: HTCR has been heating up over the past week. Today's rally could help it settle into a new trading range. mCloud Technologies [MCLD] - Last Close: $0.36 mCloud is trending after an early announcement. This morning, the company provided an update from its special committee exploring strategic alternatives, and shares are responding favorably. mCloud said the committee has decided to target an "acquisition of the company by a strategic partner." In other words, they're aiming for a buyout deal. The company said it's actively pursuing a transaction, but it cannot provide any further guidance on the "nature or timing of the proposed transaction." mCloud also noted that there is no assurances the transaction will be completed or that any deal will come out of the strategic process at all. Nonetheless, MCLD is breaking out in today's premarket. It's leading the premarket with a 49.2% gain in early trading. My Take: This is a bit of a wishful-thinking rally, as there's nothing concrete to bet on here. However, MCLD is down substantially from its previous highs, and a buyout could help it recapture some lost shareholder value. 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. 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. 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