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Market Pulse: Pre-Market Insights & Regulatory Updates
Noor Saba
April 24, 2024
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Hello Part-time Trader…👋
Premium Stock Alerts is here with your pre-market cheat sheet. In today's issue, we delve into:
Fed's Latest Announcements: Understand the Federal Reserve's recent decisions and economic outlook, and how they might influence the markets.
Volume Anomalies: Identify stocks witnessing unusual trading volumes, pointing to potential opportunities or risks.
Top Pre-Market Movers: Identify early winners poised for a strong market opening.
Market Indices & Sector Overview: Get a snapshot of key market indices and sector performances to gauge the day's potential trends.
FDA Approvals & Upcoming Decisions: Keep an eye on the latest FDA approvals and crucial upcoming decisions affecting biotech and pharmaceutical stocks.
Now, let's dive into today's edition for a closer look at the insights and analysis that will shape your trading decisions.
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Happening Today
✓ 08:30 AM ET – Durable Goods Orders (MoM) (Mar)
✓ 10:30 AM ET – Crude Oil Inventories
✓ 12:30 PM ET – Atlanta Fed GDPNow (Q1)
✓ 01:00 PM ET – 5-Year Note Auction
PREMARKET SNAPSHOT 📈
Stock Futures point to a positive open with the NASDAQ 100 leading the charge with a jump of over 1.5%.
S&P500$5070.55 ⬆️ 1.19% | Dow$38503.69 ⬆️ 0.68% | NASDAQ$17471.47 ⬆️ 1.51% |
SECTOR SNAPSHOT ✨
It's a positive day for most sectors, with Technology leading the charge at 1.71%. Materials buck the trend, dipping 0.84%.
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,407.74 | +1.18% 🟢 |
Consumer Staples | 802.95 | +0.15% 🟢 |
Energy | 734.45 | +0.53% 🟢 |
Financials | 684.55 | +0.68% 🟢 |
Health Care | 1,645.35 | +1.25% 🟢 |
Industrials | 1,041.56 | +1.40% 🟢 |
Materials | 555.9 | -0.84% 🔴 |
Real Estate | 228.66 | +0.87% 🟢 |
Information Technology | 3,605.80 | +1.71% 🟢 |
Communication Services | 286.89 | +1.86% 🟢 |
Utilities | 337 | +0.49% 🟢 |
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Unusual Volume
📈 Cyngn Inc (CYN) declined -5.79% to $0.11 on a whopping 323.21 million shares traded after it announced pricing of $5.0 million firm commitment public offering of common stock.
📈 Investors went wild, sending Pineapple Energy Inc (PEGY) stock soaring 23.58% to $0.06 on a massive volume of 180.98 million shares.
📈 Abnormal activity shook NewGenIvf Group Ltd (NIVF), pushing it up 74.22% to $2.23 on a whopping 136.82 million shares traded. This increase followed news that the company signed non-binding term sheet for potential reverse merger with European Wellness Investment Holdings.
📈 AGBA Group Holding Limited (AGBA) stock recently closed 18.80% upper at $2.97 on substantial volume of 66.56 million shares.
📈 Virgin Galactic Holdings Inc (SPCE) increase by 22.38% in a single trading session, with abnormally high trading volume of 63.44 million shares. The company will report its financial results for the first quarter 2024 following the close of the U.S. markets on Tuesday, May 7, 2024.
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Premarket Movers
Zapata Computing Holdings Inc. (ZPTA) experiences a substantial 20.50% surge in pre-market trading after reporting filing S-1 form with the SEC.
HOOKIPA Pharma Inc. (HOOK) sees a significant 9.04% increase, reaching a pre-market price of $0.83 following the receipt of clearance from the FDA for its Investigational New Drug (IND) application for HB-700.
Tesla, Inc. (TSLA) demonstrates a noteworthy 12.17% surge, with a pre-market price of $162.29 after the company reported earnings for the first quarter, which prompted Bank of America to raise its rating on shares to Buy.
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
CSSE | +76.43% | 10.02M |
ZPTA | +20.50% | 4.54M |
LICN | +7.89% | 2.92M |
HOOK | +9.04% | 2.64M |
TSLA | +12.17% | 1.62M |
NA | +6.39% | 1.08M |
ABVC | +4.44% | 702.93K |
JAGX | +3.57% | 594.91K |
VRT | +17.12% | 516.54K |
TPET | +11.47% | 449.55K |
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Important FDA
Recently Announced
Great news for ImmunityBio (IBRX) came on April 23, 2024, as the FDA approved their drug N-803, now known commercially as Anktiva. This is a major win in the fight against a tough enemy: BCG-unresponsive non-muscle invasive bladder cancer.
Johnson & Johnson (JNJ) made significant progress on April 5, 2024, when the FDA approved a wider use for their drug Carvykti. The drug can now be used to treat relapsed or refractory multiple myeloma.
Bristol-Myers Squibb Co. (BMY) had a reason to celebrate on April 5, 2024, as the FDA approved their drug Opdivo. When used with cisplatin-based chemotherapy, Opdivo marks a new chapter in managing unresectable or metastatic urothelial carcinoma.
Upcoming Announcements
Aquestive Therapeutics Inc. (AQST) is on pins and needles waiting for the FDA's verdict on Libervant. This potential treatment for seizure clusters in young children (ages 2-5) could be a game-changer, offering a new and effective option for managing these difficult-to-control seizures. The FDA is set to make its decision on April 28, 2024.
XOMA Corporation (XOMA) is anxiously awaiting the FDA's announcement on April 30, 2024, regarding tovorafenib. This drug has the potential to treat relapsed or progressive pediatric low-grade glioma (pLGG), a challenging diagnosis for both patients and their families. A positive decision could bring new hope to this area of pediatric oncology.
X4 Pharmaceuticals, Inc (XFOR) is eagerly anticipating the FDA's decision on Mavorixafor. Expected on April 30, 2024, this decision could be a major breakthrough in treating WHIM syndrome, a rare immunodeficiency disorder. Mavorixafor is being evaluated for use in patients aged 12 and above.
Happy investing,
Maeve Grace
Editor In Chief
Premium Trade Alerts
Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.
Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.
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