Two BIG buyout rallies to watch today 💥

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 August 6th. I hope you had a great weekend. Let's get ready to trade! Markets 📈 Major U.S. indexes fell on Friday and closed out the trading week with a whimper. The S&P 500 lost a half-point, while the Dow slid 0.4%, and the Nasdaq edged 0.3% lower. The small-cap Russell 2K performed slightly better with a 0.2% decline. Futures are in the green ahead of the week's first trading session. S&P 500 contracts are up by nearly 0.3%. Sponsored [The Best Way to Protect Your Wealth]( We're living in uncertain times, but how can you protect your money without forfeiting your chance at upside growth? Surprisingly, the best option doesn't involve stocks, bonds, savings accounts, or any of the most common answers. Millions of investors are turning to a new type of investment account to shore up their savings against downside risk. And now you can join them. [>> Get all the Details on the Next Page]( Premarket Highlights 🔎 ⚪ None It's been a pretty quiet premarket, and there are no major stories on my radar at the moment. What to Watch Today 👀 Consumer Credit New data on consumer credit will drop at 3 p.m. today, and it could provide some valuable insights. The uncertain outlook for the U.S. economy has made consumer debt data especially important. So far, the U.S. has averted a prolonged recession, but that could change quickly if consumers significantly cut back on spending. Consumer debt data could provide an early warning sign if the U.S. consumer is coming under pressure. Major Earnings 💰 KKR & Co. Inc. [KKR] ... AM BionTech Se Dr [BNTX] ... AM Tyson Foods, Inc. [TSN] ... AM Viatris Inc. [VTRS] ... AM Palantir Technologies Inc. [PLTR] ... PM Oneok, Inc. [OKE] ... PM Coterra Energy Inc. [CTRA] ... PM International Flavors & Fragrances, Inc. [IFF] ... PM Skyworks Solutions, Inc. [SWKS] ... PM Celanese Corporation Celanese Corporation [CE] ... PM Lucid Group, Inc. [LCID] ... PM Economy 🏗 - Consumer credit [Jun] ... 3:00p Running Hot 🔥 Gainers - Save Foods [SVFD] >> +124.3% - AgriFORCE [AGRI] >> +71.1% - Missfresh [MF] >> +59.6% - T2 Biosystems [TTOO] >> +28.7% Decliners - Yellow Corp [YELL] >> (45.9%) - Sage Therapeutics [SAGE] >> (48.2%) - Tivic Health Systems [TIVC] >> (43.9%) - Apellis Pharma [APLS] >> (14.3%) ResMed [RMD] - Last Close: $179.25 ResMed is bouncing back after a steep selloff on Friday. The healthcare supplies company set a new 52-week low on Friday after falling 18.5% following the releasing its fiscal Q4 earnings report. ResMed's EPS missed expectations, and it posted revenues that just barely met the Street's consensus estimate. Several analysts downgraded their rating on RMD in response to the weak report and concerns regarding increasing competition from Philips [PHG]. RMD is leading the S&P 500 in the premarket with a 5.7% gain. My Take: It appears Friday's sell off was overdone. However, RMD will have to overcome stiff resistance to recapture its former highs. Tabula Rasa HealthCare [TRHC] - Last Close: $7.83 New earnings data is boosting shares of Tabula Rasa. The healthcare company published its Q2 earnings report this morning, and it's getting a warm reception from the market. Tabula Rasa HealthCare reported a quarterly loss of $(0.38) per share, missing the consensus of a $(0.14) per share loss by 171%. However, the company's revenues jumped 24% YoY to $90.04 million for the quarter, beating the Street's $88.82 million consensus by 1.37%. Shares of TRHC are up 30.9% in the wake of the earnings release. My Take: TRHC has had an impressive few months, but it recently pulled back after encountering stiff resistance around $9 per share. This rally could put it over the hump and into a new trading range. Sovos Brand [SOVO] - Last Close: $18.02 💥 Sovos is getting a big boost from a buyout announcement. This morning, the food products company said it has agreed to be acquired by Campbell Soup [CPB] in an all-cash deal worth approximately $2.7 billion. Under the terms of the deal, SOVO investors will receive $24 in cash for each outstanding share. The deal represents a 33% premium to SOVO's Friday closing price. Shares of SOVO are currently up 24.8%. My Take: SOVO is currently trading for about $22.50, so there's only about 6.7% of potential upside left on the table. Sequans Communications [SQNS] - Last Close: $2.13 💥 Sequans Communications is also rallying on buyout news. The Paris-based semiconductor equipment company has agreed to be acquired by Renesas Electronics Corp in a $249 million deal. According to a joint statement from the companies, Renesas will launch a tender offer to acquire all outstanding U.S. depository shares of SQNS at $3.03 apiece. The purchase price represents a 42% premium from Friday's closing bid for SQNS. The deal is expected to closed by Q1, 2024, pending regulatory approval and customary closing conditions. SQNS is up 32.3% on the news. My Take: SQNS is also trading for very close to its acquisition price, so upside here is limited. 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. 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