Monday's hottest premarket stocks 🔥

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 September 11th. I hope you had a great weekend. Now, let's get ready to trade! Markets 📈 Large-cap indexes notched modest gains on Friday, with the Dow's 0.2% advance leading the way. The S&P 500 added 0.1%, and the Nasdaq gained less than 0.1%. The small-cap Russell 2K fell 0.2% in the trading session. Index futures are currently aiming higher. S&P 500 contracts are up 0.3% in early trading. Sponsored [Is This the End of AI?]( In as little as three months from today, a new Artificial Super Intelligence is set to launch. It's already 54% complete – and moving fast. This new AI could be thousands of times faster than ChatGPT and could push big tech stocks to double or triple over the next few years. [Click here to learn how to prepare for what's ahead.]( Premarket Highlights 🔎 🇨🇳 Chinese Yuan Gains Against Dollar The offshore yen, a more loosely regulated version of the renminbi designed for freer trade, gained more than 0.6% against the US dollar after the People's Bank of China called for market stability and warned that it would "resolutely deal with behavior that disrupts market order." What to Watch Today 👀 Earnings We have a pretty light schedule today, but there's at least one headline name on today's earnings schedule. Oracle may be a legacy IT stock, but it still holds some sway in the enterprise networking sector. Their report could provide some insights into how large businesses were spending in Q3. Major Earnings 💰 Bowlero Corp. [BOWL] ... AM Oracle Corporation [ORCL] ... PM Caseys General Stores, Inc. [CASY] ... PM Mission Produce, Inc. [AVO] ... PM Matrix Service Company [MTRX] ... PM Economy 🏗 - None scheduled Running Hot 🔥 Gainers - Versus Systems [VS] >> +27.8% - Aurora Mobile [JG] >> +20.0% - Virax Biolabs [VRAX] >> +19.2% - Reading Int B [RDIB] >> +18.1% Decliners - Tenon Medical [TNON] >> (25.1%) - Elutia [ELUT] >> (20.4%) - Impel Neuropharma [IMPL] >> (16.8%) - Solowin [SWIN] >> (13.6%) Qualcomm [QCOM] - Last Close: $106.14 Qualcomm is bouncing back after an announcement. This morning, the high-tech chipmaker announced a new agreement to supply Apple [AAPL] with 5G chips until 2026. The two companies originally linked up with a similar deal in 2019, but the 2019 contract is set to end this year. Under the terms of the deal, Qualcomm will supply chips for Apple phones that come out each year until 2026. Qualcomm also said it extended its patent licensing deal with Apple. Financial details of the agreement weren't disclosed. QCOM is the top-performing S&P 500 stock with an 8.1% gain. My Take: QCOM is coming off a pullback, but this could be the catalyst it needs to get back on track. I like this stock, and it looks like there could still be some upside left on the table after this initial move. Hostess Brands [TWNK] - Last Close: $28.11 Hostess Brands just landed itself a sweet merger deal. The snack cake company has agreed to be acquired by The J.M. Smucker Co. [SJM] in a $5.6 billion cash-and-stock deal. Under the terms of the agreement, TWNK shareholders will receive $30 in cash and 0.03002 shares of SJM for each share of common stock they hold. The purchase price has a total cash value of $34.25 per share, representing a 21.8% premium compared to TWNK's Friday closing price. Both companies' boards have approved the deal, which is set to close in Q3 of JM Smucker's current fiscal year ending on April 30th, 2024. TWNK is up 14.6% on active trading volume in today's premarket. My Take: CRNX has struggled since hitting stiff resistance at $22.50 per share in May. However, it found some support at the $15 mark, and today's rally could put it back on the right track. Crinetics Pharmaceuticals [CRNX] - Last Close: $15.97 Crinetics Pharmaceuticals is moving higher after a clinical update. This morning, the micro-cap pharma firm said paltusotine for acromegaly met its primary and secondary endpoints in a Phase 3 trial. Crinetics said the drug was well tolerated and produced no serious adverse events in the trial. The results bode well for an ongoing open-label trial of paltusotine in patients with carcinoid syndrome. HC Wainwright & Co reiterated its "buy" rating on the stock and maintained a $33 price target on CRNX after the news dropped. CRNX is today's top premarket stock with a 67.8% gain. My Take: CRNX has struggled since hitting stiff resistance at $22.50 per share in May. However, it found some support at the $15 mark, and today's rally could put it back on the right track. BioLineRX [BLRX] - Last Close: $2.09 News of a drug approval is boosting shares of BioLineRX. This morning, the pharma firm said the FDA had approved APHEXDA™ (motixafortide) in Combination with Filgrastim (G-CSF). The drug combination was approved as a treatment to "mobilize... stem cells for ... transplantation in patients with multiple myeloma." BioLineRX said it was the first innovation in stem cell mobilization to be approved in the U.S. in over a decade. Management will hold a conference call tomorrow at 8 a.m. EDT to discuss the approval. BLRX is one of today's top gainers with a 20.5% gain. My Take: BLRX is having difficulty breaking through resistance at $2.50 per share. If it can break through, it could find new support at that level, but, so far, this rally hasn't been enough to get it over the hump. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... 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