Buckle up for new CPI data 🎢

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Thursday, August 10th. I hope you have a great day in the market. Let's get ready to trade! Markets 📈 Wednesday was another down day for U.S. stocks. The Dow lost half a point, while the S&P 500 lost 0.7%. The Nasdaq underperformed with a 1.1% decline, and the small-cap Russell 2K fell 0.8%. Today, futures are edging higher as investors await today's July CPI report. S&P 500 contracts are up 0.4%. Sponsored [3 AI Stocks Set to Soar in 2023 🚀]( Eric Fry just released the names of 3 AI-driven stocks he believes every investor should own, even in these crazy markets. One of his picks are up over 100% since the beginning of 2023, and the other two could be equally promising. [Click here to learn their names – FOR FREE.]( Premarket Highlights 🔎 ⚪ None No major headlines to report this morning. What to Watch Today 👀 July CPI New inflation data will hit the market at 8:30 a.m. today in the form of the July CPI report. Economists estimate that CPI inflation will come in at 3.3% for the month, marking a slight uptick from June's 3.0% figure. Major Earnings 💰 Alibaba Group Holdings Ltd. Dr [BABA] ... AM Brookfield Corporation [BN] ... AM US Foods Holding Corp. [USFD] ... AM Ralph Lauren Corporation [RI] ... AM Cyberark Software Ltd. [CYBR] ... AM Applied Industrial Technologies, Inc. [AIT] ... AM Credicorp Ltd. [BAP] ... PM News Corporation [NWS] ... PM Onto Innovation Inc. [ONTO] ... PM Flowers Foods, Inc. [FLO] ... PM Economy 🏗 - Initial jobless claims [Aug] ... 8:30a - Consumer price index [Jul] ... 8:30a - Core CPI [Jul] ... 8:30a - Treasury budget [Jul] ... 2:00p Running Hot 🔥 Gainers - Mogo [MOGO] >> +30.2% - ReShape Lifesciences [RSLS] >> +20.8% - WeWork [WE] >> +16.1% - Ebet [EBET] >> +7.5% Decliners - Galera [GRTX] >> (83.4%) - Amyris [AMRS] >> (71.4%) - Origin Materials [ORGN] >> (72.8%) - Scisparc [SPRC] >> (39.3%) Capri Holdings [CPRI] - Last Close: $34.61 Capri has agreed to a lucrative buyout deal. The fashion company has agreed to be acquired by Tapestry [TPR] in an all-cash deal worth about $8.5 billion. Investors will receive $57 per share in cash under the terms of the deal, marking a 64% premium from its previous closing price. Both companies' boards have approved the transaction, and the deal is expected to close in 2024, pending approval from CPRI shareholders. CPRI is this morning's top premarket mover with a 57.4% gain on elevated volume. My Take: Nice pop for CPRI shareholders, but, as is usually the case with these buyouts, traders gobbled up nearly all the upside as soon as the news hit the market. Applovin [APP] - Last Close: $29.41 Applovin is on the rise after an earnings report. The mobile app developer released its Q2 results after Wednesday's close, and the market likes what it sees. Applovin's Q2 EPS came in at $0.22 per share, more than tripling the $0.07 consensus. Sales fell short of analyst estimates, but the company ended the quarter with $976 million in cash and equivalents on hand thanks to AI-related improvements. Applovin also announced Q3 revenue guidance that was significantly better than analysts expected. APP is up 24.8% on the heels of its earnings report. My Take: APP is doing more with less. Its Q2 EPS tripled the consensus estimate despite lower than expected revenues. This stock could be worth watching. Edible Gardens [EDBL] - Last Close: $1.21 New earnings data is boosting shares of Edible Gardens. This morning, the next-gen farming company posted a double-line beat on its Q2 earnings, and shares are taking off on the news. Edible Gardens reported a loss of $(0.24) per share, which was much better than the $(0.90) per share analyst estimate. Revenues jumped 41.4% YoY to $4.22 million in Q2, which easily surpassed the Street's $3.66 million target. EDIBL is one of this morning's top stocks with a 51.8% gain on active volume. My Take: EDBL's revenue trends appear to be promising, but this company is still a long way off from turning a profit. The chart doesn't look all that great, either. Yield10 Bioscience [YTEN] - Last Close: $1.2601 Yield10 Bio is rebound after a deep sell-off. The biotech firm hit a new 52-week low on Wednesday after six consecutive losing sessions, but it's reversing course in dramatic fashion in today's premarket. The downtrend kicked off after Yield10 announced "positive results in first field test of stacked herbicide tolerance traits in Camelina" on August 2nd. Yield10 tried to paint the data in a positive light, but the market seemed to have its doubts. Shares began to downtrend once the news dropped. However, YTEN is bouncing back today, with a 17.0% gain in early premarket trading. My Take: It looks like YTEN's recent selloff may have overextended itself. The company hasn't made any major announcements since Aug. 2nd, but it appears to be pivoting today. 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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