Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Thursday, October 12th. I hope you have a great day in the market. Now, let's get ready to trade! Markets ð The Nasdaq gained 0.7% on Wednesday, while the S&P 500 added 0.4%. The Dow lagged with a 0.1% gain, and the small-cap Russell 2K fell 0.1%. Today, futures are pointing to another higher open today. S&P 500 contracts are up 0.3% in early trading. Sponsored [Get the Ultimate Dividend Package FOR FREE!]( Marc Lichtenfeld, author of Get Rich with Dividends, is giving away his Ultimate Dividend Package, featuring details on his #1 Dividend Stock... It's been called "the Safest 8% Dividend in the World"... One of the top-three "Extreme Dividend" stocks on the market... And Much, Much More. [Get the Ticker & Loads of Valuable Resources Here]( Premarket Highlights ð ð° Earnings Season Kicks Off. Earnings season is officially here. We have a full docket of companies reporting today, including Delta Air Lines [DAL], Domino's Pizza [DPZ] and others. Keep an eye on the headline names because their results good have a significant influence on today's trading session. What to Watch Today ð CPI
New Consumer Price Data for September will drop at 8:30 a.m. today, and economist are hoping to see a slight slowdown in inflation compared to the previous month. In August, annual CPI inflation hit 3.7%, but media forecasts are calling for a 3.6% annual rate in September's report. Core CPI inflation is expected to slow to 4.1% from 4.3% a month earlier. This report could set the tone for the trading session, as it will set expectations for the next Fed policy meeting. Major Earnings ð° Fastenal Company [FAST] ... AM
Delta Air Lines, Inc. [DAL] ... AM
Walgreens Boots Alliance, Inc. [WBA] ... AM
Domino's Pizza Inc [DPZ] ... AM
Commercial Metals Company [CMC] ... AM
Smart Global Holdings, Inc. [SGH] ... PM
IDT Corporation [IDT] ... PM
Oil-Dri Corporation Of America [ODC] ... PM
Comtech Telecommunications Corp. [CMTL] ... PM
T2 Biosystems, Inc. [TTOO] ... PM Economy ð\ - Initial jobless claims [Oct] ... 8:30a
- Consumer price index [Sep] ... 8:30a
- Core CPI [Sep] ... 8:30a Running Hot ð¥ Gainers
- Secoo Holding [SECO] >> +727.6%
- Jaguar Health [JAGX] >> +137.5%
- Versus Systems [VS] >> +45.0% Decliners
- RVL Pharma [RVLP] >> (51.8%)
- Tempest Therapeutics [TPST] >> (41.8%)
- Matinas BioPharma [MTNB] >> (36.9%) Fastenal [FAST] - Last Close: $56.01 Strong earnings are boosting shares of Fastenal. The industrial supplies company reported its Q3 earnings report early this morning, and the results topped the market's expectations. Fastenal reported EPS of $0.52 per share, up from $0.50 per share a year earlier. Consensus estimates also called for EPS of $0.50. Net sales jumped 2.7% YoY to $1.85 billion for the quarter, which was in line with analysts' estimates. FAST is the top S&P 500 stock in today's premarket with a 4.6% gain. My Take: FAST has been trading sideways for most of the year, and its valuation isn't exactly a bargain. I am lukewarm on this one. Bsquare Corp [BSQR] - Last Close: $1.24 Bsquare Corp is rallying on news of a buyout deal. Late Wednesday, the tech company said it agreed to be acquired by Kontron America in a $38 million tender-offer deal. The Kontron tender deal offers to buy all outstanding shares of BSQR at a price of $1.90 apiece in all-cash transactions. The deal represents a 53% premium to BSQR's Wednesday closing price, and it's expected to close later this year, subject to the fulfillment of closing conditions. BSQR is up 47.9% on news of the deal. My Take: BSQR is already pretty close to the tender offer price, so upside is limited in this trade. Reshape Lifesciences [RSLS] - Last Close: $0.27 Reshape Lifesciences just won a new patent. The U.S. Patent & Trademark Office granted the company U.S. Patent #11779482 For "Intragrastric Device For Treating Obesity." The patent application included a general description of the device, along with a technical drawing. RSLS is soaring on news of the patent. Shares are up 129.4% in the premarket. My Take: RSLS may be onto something major with this patent award. OpGen [OPGN] - Last Close: $0.3360 OpGen is soaring after announcing a deal. Late Wednesday, the company said its Curetis GMBH unit received a EU$750,000 payment relating to the sale of certain Unyvero A50 systems. The final purchase of the sale to an unnamed strategic partner will be made pursuant to a purchase agreement. OpGen also filed a Form 8-K announcing a private placement of preferred stock to fulfill a share purchase agreement with an unnamed investor. OPGN is up a whopping 533.9% in response to the news. My Take: OPGN's rally seems to be a tad overdone, but maybe there's more to the store here. 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. I may earn a small commission from links placed inside of these emails.
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