Morning Momentum: Today's Big Profit Plays!

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Hello Part-time Trader…👋

Stocks are surging on in pre market trading Monday as data from last week fueled optimism about a potential interest rate cut by the Federal Reserve. Friday's data showed a decline in inflation based on the core PCE index, a key measure for the Fed.

This slowdown in inflation raises the possibility of a rate cut before year-end, which could be a boon for stocks.

As the second half of the year kicks off, traders will navigate a shortened week due to the Fourth of July holiday on Thursday. This week kicks off with a bang! Investors will be closely watching the release of the ISM manufacturing index on Monday, a key indicator of factory activity.

Happening Today

✓ 09:45 AM ET – S&P Global US Manufacturing PMI (Jun)

10:00 AM ET – Construction Spending (MoM) (May)

✓ 10:00 AM ET – ISM Manufacturing Employment (Jun)

✓ 10:00 AM ETISM Manufacturing PMI (Jun)

✓ 10:00 AM ET – ISM Manufacturing Prices (Jun)

✓ 12:00 PM ET – Atlanta Fed GDPNow (Q3)


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PREMARKET SNAPSHOT 📈

Market futures are up, with the S&P 500, Dow, and NASDAQ all showing gains of 0.22% to 0.23%.

S&P500

$5534.25

 ⬆️ 0.23%

Dow

$39557.00

 ⬆️ 0.22%

NASDAQ 

$19974.00

  ⬆️ 0.23%

SECTOR SNAPSHOT 

Market declines led by Consumer Discretionary and Communication Services, with modest gains in Energy and Financials.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,492.14

-1.36% 🔴

Consumer Staples

819.86

-0.46% 🔴

Energy

698.23

+0.42% 🟢

Financials

684.26

+0.38% 🟢

Health Care

1,700.33

-0.08% 🔴

Industrials

1,031.96

+0.08% 🟢

Materials

556.50

-0.02% 🔴

Real Estate

241.17

+0.62% 🟢

Information Technology

4,341.09

-0.43% 🔴

Communication Services

310.19

-1.63% 🔴

Utilities

346.33

-1.08% 🔴


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PreMarket Unusual Volume Stocks

📈 Nukkleus Inc (NUKK): Nukkleus Inc saw a significant increase in trading activity with a volume of 9,390,369, well above its average volume of 301.67. This notable rise in volume corresponds with an 18.56% price change, reflecting heightened market interest.

📈 Loop Media Inc (LPTV): Loop Media Inc experienced a substantial rise in volume, trading 28,455,341 shares compared to its average of 1,021.81. This dramatic increase in trading volume resulted in an 81.19% price change, indicating strong investor activity.

📈 Lion Group Holding Ltd ADR (LGHL): Lion Group Holding Ltd ADR saw its trading volume surge to 7,069,678, significantly higher than its average of 489.58. The stock's price change of 15.78% mirrors this spike in trading volume.

📈 Golden Heaven Group Holdings Ltd (GDHG): Golden Heaven Group Holdings Ltd saw its volume rise to 24,303,656, far exceeding its average of 5,446.38. The stock's 50.33% price change reflects the surge in trading volume.

📈 Complete Solaria Inc. (CSLR): Complete Solaria Inc. saw its volume rise to 3,522,635 from an average of 1,484.44. This increase in trading activity resulted in a 38.39% price change, underscoring the market's response to the heightened volume.


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Premarket Picks

Complete Solaria, Inc. (CSLR) surged 20.53% in pre-market trading, reaching $1.35 per share after announcing the cancellation of $67.6 million in debt from its balance sheet. The company has been released from its obligations under that debt by its two private equity providers, Carlyle and Kline Hill Partners.

Babcock & Wilcox Enterprises, Inc. (BW) experienced a pre-market increase of 13.79%, reaching $1.65 per share. This followed news of an agreement to sell its Denmark-based renewable parts and services subsidiary.

Arbe Robotics Ltd. (ARBE) saw a 7.85% gain in pre-market trading, reaching $2.06 per share. The increase came after announcing that one of the top ten OEMs worldwide has selected Arbe's chipset for developing its next-generation imaging radar for serial production.

Below is a list of other hot stocks in pre-market today:

Pre Market Gainers

Pre Market Change

Pre Market Volume

LPTV

+82.97%

22.98M

GDHG

+56.36%

13.54M

NUKK

+13.43%

8.45M

OPTT

+9.75%

1.18M

CHWY

+20.63%

691.95K

KTRA

+10.81%

444.72K

PRST

+8.71%

334.89K

WOOF

+5.03%

89.74K

MBIO

+5.71%

85.56K

SOBR

+7.22%

84.23K


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Important FDA 

Recently Announced

On June 26, 2024, Verona Pharma plc (VRNA) announced that the FDA approved its drug Ensifentrine, which will be marketed under the brand name Ohtuvayre. This approval is for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in adult patients, marking a significant milestone for the company.

Merck & Co Inc. (MRK) received a Complete Response Letter (CRL) from the FDA on June 26, 2024, for Patritumab deruxtecan (HER3-DXd). The CRL was issued due to inspection findings at a third-party manufacturer, impacting the drug's application for use in patients with previously treated locally advanced or metastatic EGFR-mutated non-small cell lung cancer.

On June 26, 2024, AbbVie (ABBV) announced that the FDA approved its drug Epcoritamab-bysp for the expanded treatment of adult patients with relapsed or refractory (R/R) follicular lymphoma (FL) after two or more lines of systemic therapy. This approval allows AbbVie to provide a new therapeutic option for this patient population.

Similarly, on June 26, 2024, GENMAB A/S (GMAB) received FDA accelerated approval for Epcoritamab-bysp. This approval is for treating relapsed or refractory follicular lymphoma (FL) in adult patients after two or more lines of systemic therapy, enhancing GENMAB’s oncology portfolio.

Rocket Pharmaceuticals, Inc. (RCKT) faced a setback on June 28, 2024, when the FDA issued a Complete Response Letter for KRESLADI (RP-L201). This drug was intended for the treatment of severe Leukocyte Adhesion Deficiency-I, but the CRL has delayed its approval, requiring the company to address the FDA’s concerns.


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Upcoming Announcements

On July 7, 2024, Arcutis Biotherapeutics Inc. (ARQT) is expecting a critical FDA decision on their supplemental New Drug Application (sNDA) for Roflumilast Cream 0.15%. This cream is designed to treat atopic dermatitis in adults and children as young as six years old. Approval of this treatment could provide a new option for managing this common and often challenging skin condition.

Phathom Pharmaceuticals Inc. (PHAT) is anticipating an important FDA decision on July 19, 2024, regarding their New Drug Application (NDA) for VOQUEZNA (vonoprazan) Tablets. These tablets aim to treat heartburn associated with non-erosive gastroesophageal reflux disease (GERD). If approved, VOQUEZNA could offer a new therapeutic alternative for patients suffering from this prevalent digestive disorder.

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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