Watch this stock closely... 🚨

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Tuesday, August 8th. I hope you have a great day in the market. Let's get ready to trade! Markets 📈 Stocks returned from the weekend with a strong performance on Monday. The Dow rallied 1.1%, while the S&P 500 trailed close behind with a 0.9% gain. The Nasdaq added 0.6%, and the Russell 2K gained less than 0.1%. Futures are heading lower in early trading. S&P 500 contracts are currently down 0.7%, so we're probably heading for a lower open. Sponsored [Watch this stock closely... 🚨]( An under-the-radar stock could be on the fast track to enormous growth in 2023. This overlooked company is pulling ahead on one of America's hottest up-and-coming industries. If this company lives up to the hype, it could be the next Netflix.... Fortunately, there's still time to make a move. But don't hesitate because a rally could unfold VERY fast once it takes off. [Get a Full Briefing Here (Ticker Included)]( Premarket Highlights 🔎 📉 Moody's Downgrades Regional Banks Moody's Investors Service announced lowered credit ratings for 10 U.S. regional banks early Tuesday and said 6 more banks were currently under review. The list of downgrades included M&T Bank, Pinnacle Financial Partners, Commerce Bancshares, and others. Moody's said higher costs are still pressuring lenders and pointed to lower profits and higher funding costs as the primary reasons for the downgrades. What to Watch Today 👀 UPS Earnings UPS's latest quarterly numbers will drop in today's premarket, and I'll be keeping a close eye on this report. Earnings from shipping giants like UPS often provide investors with valuable insights into the current state of the global economy. Their top-line revenues tend to go hand-in-hand with global economic activity, so, if UPS had a good quarter, it could be a sign of improving macroeconomic conditions. Major Earnings 💰 Eli Lilly And Company [LLY] ... AM United Parcel Service, Inc. [UPS] ... AM Zoetis Inc. [ZTS] ... AM Duke Energy Corporation [DUK] ... AM Transdigm Group Inc. [TDG] ... AM Datadog, Inc. [DDOG] ... AM Restaurant Brands International Inc. [QSR] ... AM Globalfoundries Inc. [GFS] ... AM Coupang, Inc. [CPNG] ... PM Take-Two Interactive Software, Inc. [TTWO] ... PM Economy 🏗 - NFIB optimism index [Jul] ... 6:00a - U.S. trade balance [Jun] ... 8:30a - U.S. wholesale inventories [Jun] ... 10:00a Running Hot 🔥 Gainers - Vivos [VVOS] >> +137.7% - Infinity [INFI] >> +58.4% - Digital Health SPAC [DHACU] >> +72.0% - Bright Minds Bio [DRUG] >> +63.9% Decliners - Proterra [PTRA] >> (66.4%) - Alteryx [AYX] >> (22.8%) - IFF [IFF] >> (20.8%) - Datadog [DDOG] >> (21.3%) Eli Lilly [LLY] - Last Close: $179.25 Eli Lilly is running hot after an early-morning earnings report. The pharma giant reported its Q2 results early Tuesday morning, and investors are cheering the results. Eli Lilly reported non-GAAP EPS of $2.11 jumped 68% from a year earlier and easily topped the Street's $2.00 estimate. Revenues grew 28% YoY to $8.31 billion in the quarter, which also eclipsed analysts' $7.61 billion target. Eli Lilly also issued new full-year 2023 earnings & revenue guidance that surpassed analysts' expectations. LLY is leading the S&P 500 with an 8.4% gain on active trading volume. My Take: LLY has been killing it this year. Its valuation is somewhat elevated, but it's delivering on its growth targets, and today's rally could help it break through a key resistance point and set a new 52W high. Chegg [CHGG] - Last Close: $10.03 Chegg is heating up after a late Monday earnings report. The remote education company announced its Q2 earnings after yesterday's close, and the results were better than expected. Chegg reported EPS of $0.28, which was in line with the Street's consensus, and marked a decline from last year's Q2 EPS of $0.37. Revenues also declined to $182.9 million, down from $194.7 million a year earlier, but still managed to top the Street's $176.5 million target. Most notable, Chegg also announced that it launched beta versions of its generative AI experience in May, and feedback has been "very positive." CHGG is up 20.6% in early premarket trading. My Take: CHGG's earnings report wasn't all that great, but the generative AI talk seemed to get investors excited. Biophytis [BPTS] - Last Close: $1.55 Upbeat drug data is boosting shares of Biophytis today. The drug company said Belgian regulators have given it a green light to proceed with Phase 3 trials of its lead drug candidate Sarconeos. The upcoming study will assess Sarconeos' efficacy and safety in patients with neuromuscular disease at risk of motor disability, according to Biophytis reps. Belgian authorities made the decision based on promising Phase 2b study results and a positive opinion from the European Medicines Agency. News of the coming drug trial rallied BPTS to a 17.4% gain on active trading volume. My Take: BPTS has had a rough few months, but there could be tremendous upside if it can get its feet back under it. However, it could take a while for the potential Phase 3 catalyst to play out. Novavax [NVAX] - Last Close: $7.52 Novavax is trending after releasing its latest quarterly numbers. The biotech firm's Q2 results showed the company had a good quarter thanks to strong sales from its COVID-19 vaccine. Novavax reported a surprise profit of $0.58 per share, crushing analysts' estimate of a $(1.24) per share loss by more than 146%. The company's quarterly sales came in at $424.43 million, which marked a 128% jump from a year earlier and steamrolled the Street's target by upwards of 64%. NVAX is up 12.3% in the wake of its surprisingly strong quarter. My Take: NVAX's quarterly numbers topped expectations by an outrageous margin. I'm a little surprised that shares are only up 12% considering how strongly the company performed in Q2. 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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