Top stocks from Monday's premarket 🔥

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Monday! It's July 31st. I hope you had a great weekend. Let's get ready to trade! Markets 📈 Stocks rebounded on Friday after suffering a modest pullback the day before. The Dow added half a point, while the S&P 500 gained 1.0%. The Nasdaq rallied 1.9%, and the small-cap Russell 2K jumped by 1.3%. S&P 500 futures contracts are up 0.1% in early premarket trading. Sponsored [Wall Street's Biggest Income Secret 🔒]( Have you seen this? Retail traders are using a closely-guarded Wall Street secret to rack up huge weekly gains like clockwork. It's incredibly simple to replicate, and you could start collecting returns as soon as this Friday if you move now. [>> Get a Complete Game Plan Here.]( Premarket Highlights 🔎 ⚖️ Judge Throws Out J&J Deal On Friday, a federal judge threw out Johnson & Johnson's [JNJ] second Chapter 11 case, dashing the company's hopes of reaching at $8.9 billion settlement that would've resolved massive liabilities resulting from claims against its talc powder. JNJ is down 1.6% in today's premarket. What to Watch Today 👀 Quiet Start to the Week Today's earnings schedule isn't particularly exciting, but it marks the start of a busy week that will feature earnings updates from Apple, Amazon, Starbucks, PayPal, and others. If the outlook for these companies remains optimistic, we could see more gains for U.S. indexes this week. Major Earnings 💰 On Semiconductor Corporation [ON] ... AM Republic Services, Inc. [RSG] ... PM Arista Networks, Inc. [ANET] ... PM Welltower Inc. Reit [WELL] ... PM Avalonbay Communities, Inc. Reit [AVB] ... PM Diamondback Energy, Inc. [FANG] ... PM Monolithic Power Systems, Inc. [MPWR] ... PM Yum China Holdings, Inc. [YUMC] ... PM Sba Communications Corporation Reit [SBAC] ... PM Hologic, Inc. [HOLX] ... PM Economy 🏗 - Chicago Business Barometer [Jul] ... 8:30a - Fed senior loan survey [Q2] ... 2:00p Running Hot 🔥 Gainers - Foxo Tech [FOXO] >> +78.1% - Conexa Sports Tech [CNXA] >> +34.3% - Metal Sky Star SPAC [MSSAU] >> +14.4% - Annexon [ANNX] >> +13.4% Decliners - COMSoverign Holdings [COMSP] >> (18.9%) - Regional Management [RM] >> (9.7%) - Navidea Biopharma [NAVB] >> (14.7%) - Citius Pharma [CTXR] >> (13.4%) Adobe [ADBE] - Last Close: $528.87 Adobe is powering higher after a bullish analyst note. This morning, Morgan Stanley analyst Keith Weiss upgraded his rating on the stock from "Equal-Weight" to "overweight." Weiss also lifted his price target on ADBE from $510 to $660, marking a 29% increase. ADBE is one of this morning's top S&P 500 stocks with a 2.6% gain. My Take: ABDE is an absolute stud of a stock. It has a pricey valuation, but i'ts not absurd. Plus, the company is investing heavily in AI, which could help it sustain its growth trajectory for years to come. Bullish. Allarity Therapeutics [ALLR] - Last Close: $2.63 Allarity is climbing after a premarket announcement. The pharma firm unveiled a new Clinical Cooperation Agreement with FivepHusion early this morning. Under the terms of the partnership, Allarity will support FivepHusion's development of Deflexifol(TM) for the treatment of solid tumors. In return, FivepHusion will have access to Allarity's companion diagnostics to select patients for enrollment in clinical trials. AALR is breaking out to a 27.3% gain on elevated trading volume in today's premarket. My Take: ALLR has an absurdly tiny float, so this could be a bull trap. Don't get caught holding the bag here. China Natural Resources [CHNR] - Last Close: $1.96 China Natural Resources is getting a boost from a recent announcement. On Friday, the China-based mining company announced a deal to sell its Precise Space-Time Technology to Feishang Group in a US$13.2 million deal. The companies noted that the purchase price could be subject to positive post-closing adjustments depending on any differences in base net assets. CHNR is riding a 49.4% gain in early trading, and it's one of this morning's top performers. My Take: CHNR is a small company, so this cash injection could be a big deal for them. However, this stock has struggled over the past five months, and I'm not sure if this is catalyst will be enough to get it back on the right track. Barnes & Noble Education [BNED] - Last Close: $1.25 Barnes & Noble Education's latest announcement is giving it a boost. On Friday, the textbook company announced a new agreement with its financial backers and partners to strengthen its financial position. The deal will extend the maturity of B&N Education's debt facilities, amend certain credit facilities, and modify other agreements. The company says it is "well-positioned" to capitalize on the upcoming Fall Sales Rush thanks to the deal. Shares of BNED are up 17.6% in today's premarket. My Take: BNED may be bottoming out after a rough few months. The WSJ also published an article about Barnes & Noble bookstores recently, which may have given this stock some extra exposure. 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. 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