4 Red-hot stocks from today's premarket 🔥

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Wednesday, August 16th. I hope you have a great day in the market. Now, let's get ready to trade! Markets 📈 Stocks sold off on Tuesday after China made moves to bolster its struggling economy. The Dow lost 1.0%, while the S&P 500 and Nasdaq lost 1.1%. The Russell 2K closed the day 1.2% lower. Futures are down in early trading today. S&P 500 contracts are currently showing a loss smaller than 0.1%. Sponsored [[ALERT] Ground Floor Opportunity 🚀]( Opportunities to buy private shares used to be restricted to venture capitalists, accredited and institutional investors.... But now everyday folks can get in on the action too, and this company looks particularly promising. It features an impressive deck of disruptive technology, and it already is attracting interest from venture capitalists & angel investors. Now's your chance to get in BEFORE shares hit the market. [Get all the Details Here]( Premarket Highlights 🔎 ⚪ None. No major news to report in today's premarket. What to Watch Today 👀 Earnings Today's earnings docket features reports from legacy tech giant Cisco Systems, plus retailers like TJX and Target. It's shaping up to be a rather quiet news day, so these reports could have an outsized impact on the trading session. . Major Earnings 💰 TJX Companies, Inc. [TJX] ... AM Target Corporation [TGT] ... AM Performance Food Group Co. [PFGC] ... AM Cisco Systems, Inc. [CSCO] ... PM Synopsys, Inc. [SNPS] ... PM Amcor Plc [AMCR] ... PM Wolfspeed, Inc. [WOLF] ... PM Avnet, Inc. [AVT] ... PM Paycor Hcm, Inc. [PYVR] ... PM Stoneco Ltd. [STNE] ... PM Economy 🏗 - Housing starts [Jul] ... 8:30a - Building permits [Jul] ... 8:30a - Industrial production [Jul] ... 9:15a - Capacity utilization [Jul] ... 9:15a Running Hot 🔥 Gainers - Ebet [EBET] >> +55.6% - MSP Recovery [LIFW] >> +44.4% - Sonnet Biotherapeutics [SONN] >> +31.7% - Glory Star New Media [GSMG] >> +88.3% Decliners - Impel Neuropharma [IMPL] >> (32.4%) - Aptose Biosciences [APTO] >> (28.5%) - SRM Entertainment [SRM] >> (20.8%) - Recruiter.com [RCRT] >> (13.6%) Target [TGT] - Last Close: $125.05 Target is getting a boost from its early-morning earnings report. The retail giant's Q2 earnings report was mixed, but the market is giving it a warm reception. Target's EPS came in at $1.80 per diluted share, topping the $1.42 consensus, thanks to improved margins and inventory management. Revenues of $24.77 billion were down from last year and missed the $25.23 billion consensus, as a major boycott campaign continues to hurt the company's top-line. Target slashed its full-year earnings outlook in response to the slowing revenues, but investors seem to be taking the news well. TGT is leading the S&P 500 with a 7.8% gain in early trading. My Take: Honestly, I am not really sure why TGT is rallying. This was not a great report, and the company is forecasting more sales declines in the coming months. The company's constant involvement in political controversy is also a red flag. DLocal [DLO] - Last Close: $15.50 A strong quarterly report sent shares of DLocal soaring. The FinTech stock was halted yesterday after its earnings results were leaked before the closing bell, and shares continued to rally in the after-market. DLocal's EPS jumped 50% from last year to $0.15 in Q2, topping the Street's $0.13 EPS consensus. Revenues grew 59% YoY to $161.1 million, also beating the consensus of $149.4 million. DLocal also announced the appointment of a former MercadoLibre exec as the company's new co-CEO. DLO jumped 13.3% on Tuesday, and it's up another 30.4% in today's premarket. My Take: DLO's rally is beginning to look overextended. Keep your stops tight on this one. Ryvyl [RVYL] - Last Close: $1.06 Ryvyl is back after receiving a notice from its listing exchange. Yesterday, the company announced that it had regained compliance with Nasdaq's minimum-bid price requirement. Ryvyl also said Nasdaq had imposed a panel monitor for a period of six months, ending in February 2024. The news came just a day after Ryvyl posted a wider-than-expected Q2 loss, although its sales exceeded expectations. RVYL is one of this morning's top movers with a 16.9% gain. My Take: RVYL is coming off a dramatic pullback, but it could have upside potential if it can hold above the key $1 support level. Novo Integrated Sciences [NVOS] - Last Close: $0.1160 Novo Sciences is up following a recent announcement. The health care company provided updates on "certain actions and events" in Tuesday's session. Novo said it continues to work towards closing the deal to purchase 100% of SwagCheck's shares, and it hopes to close the deal soon. It also announced that it expects to receive an initial draw of $57 million on its note with RC Consulting Group. Novo also said its board has initiated a review process to examine a proposed share repurchase program. NVOS is leading the premarket with a 72.2% gain in light of the news. My Take: NVOS is coming off a deep sell off, so it will be interesting to see if it can maintain this momentum in the coming days and weeks. 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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