Don't miss these earnings reports 💰

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Wednesday, July 19th. I hope you have a great day in the market. Let's get ready to trade! Markets 📈 Socks gained on Tuesday, with the Dow's 1.0% leading the way among U.S. large-cap indexes. The Nasdaq and S&P 500 both added 0.7%, while the small-cap Russell 2K outperformed with a 1.2% rally. Futures are ticking higher in early trading. S&P 500 contracts are up by less than 0.1%. Sponsored [The Best Hedge Against an Uncertain Market]( When banks crashed in 2008, folks who failed to prepare saw their savings go down the tubes. However, a select group of investors made out like bandits because they made one simple move... [See Their Secret on the Next Page >>]( Premarket Highlights 🔎 ❌ New Bill Banning Stock Ownership for Congress Sens. Kristen Gillabrand [D, NY] and Josh Hawley [R, MO] will introduce bipartisan legislation that will ban members of the executive and legislative branches from owning stocks. I think this bill has slim chances at passing, but it will be interesting to see who lines up to oppose it. What to Watch Today 👀 Earnings Preview Most of the big names on today's earnings docket will report after the close, including Netflix, IBM, Tesla, Netflix, and others. We'll hear from Goldman Sachs and US Bancorp in the morning. Keep an eye on the morning bank reports, as other banks have reported struggles in Q2. Morgan Stanley said a slowdown in deal-making drove a significant drop in profits during the quarter, and this trend could also be problematic for Goldman and others. Major Earnings 💰 Goldman Sachs Group, Inc. (The) [GS] ... AM Elevance Health, Inc. [ELV] ... AM U.S. Bancorp [USB] ... AM Baker Hughes Company [BKR] ... AM Tesla, Inc. [TSLA] ... PM Netflix, Inc. [NFLX] ... PM International Business Machines Corporation [IBM] ... PM Crown Castle Inc. Reit [CCI] ... PM Las Vegas Sands Corp. [LVS] ... PM Kinder Morgan, Inc. [KMI] ... PM Economy 🏗 - Housing starts [Jun] ... 8:30a - Building permits [Jun] ... 8:30a Running Hot 🔥 Gainers - 60 Degrees Pharma [SXTP] >> +34.7% - Chavant Capital Acq. [CLAYU] >> +12.9% - Cyngn [CYN] >> +15.2% - Bio Path [BPTH] >> +10.6% Decliners - Sono Group [SEV] >> (19.4%) - Aqua Metals [AQMS] >> (19.5%) - Dynatronics [DYNT] >> (17.5%) - Amarin [AMRN] >> (17.4%) Elevance Health [ELV] - Last Close: $443.69 An upbeat earnings report is giving Elevance Health a boost. Early today, the health benefits company reported YoY increases in earnings and revenues that topped analysts' estimates on its Q2 report. Elevance's Q2 adjusted EPS of $9.04 increased 13% from the previous year, and topped the consensus of $8.77. Total revenues also jumped roughly 13% YoY to $43.67 billion in Q2, easily beating the $41.49 billion consensus. Elevance also reported stronger-than-expected fiscal 2023 guidance in light of the strong quarter. ELV is leading the S&P 500 with a 5.2% gain. My Take: ELV just rebounded from a big sell-off late last week. It's also been slowly down-trending for most of this year. However, the strong quarter and the sudden rebound may be the mark of a "bottoming out" phase that could turn out to be a pivot point. Carvana [CVNA] - Last Close: $39.80 Carvana is edging higher after an earnings release. This morning, the car company released its Q2 earnings results and provided promising several business updates. Carvana's EPS and fell short of the consensus, but its $2.97 billion revenue figure topped the $2.61 billion estimate. Perhaps most importantly, it also announced a new transaction support agreement with note holders that will reduce its total debt & extend maturities. CVNA is one of this morning's top stocks with a 24.3% gain. My Take: CVNA has been on an absolute tear since the start of May, but it's beginning to hit some resistance. Its short rate also hit 43.7% as of June 30th. CVNA could be a meme stock, but, so far, it's working out for the bulls. StarTek [SRT] - Last Close: $2.86 StarTek just received a buyout offer that's boosting its shares. Late Tuesday, a Form SC 13D/A filing revealed the company had received an offer from CSP Fund to acquire the company in an all-cash deal. CSP offered to pay $3.80 per share in cash to acquire all outstanding shares of StarTek, a 32% premium to SRT's Tuesday closing price. StarTek is still considering the offer, but shares are up 18.1% on the possibility of an acquisition. My Take: This offer is still up in the air, so there's still some potential upside on the table. However, SRT could see big losses if the deal falls through, so there's also added risk. Tread carefully. SMX Security Matters [SMX] - Last Close: $0.1460 SMX is rallying after a big announcement. Late yesterday, the security tech company announced it had been granted a notice of allowance for a key U.S. patent. The patent is titled "system And Method For Detection And Identification Of Foreign Elements In A Substance By X-Ray Or Gamma-Ray Detection And Emission." SMX has yet to comment on the patent, but investors have already caught wind, and shares are rising on the news. SMX is currently this morning's top premarket performer with a 36.3% gain. My Take: ARDS is a tiny stock, but it's showing signs of life as of late, and this Phase 3 trial could deliver a valuable catalyst down the road. 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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