Must-Watch: Hot Pre-Market Stocks for Big Gains!

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Hello Part-time Traderβ€¦πŸ‘‹

U.S. stocks are on the rise in the premarket this Wednesday, fueled by a strong earnings report from Advanced Micro Devices (AMD), which has boosted shares across the sector.

Shares of AMD surged after the company beat earnings estimates and raised its annual forecast for AI data center GPU revenue. This positive news also lifted Nvidia's stock, while Microsoft experienced a decline due to disappointing Azure revenue.

Nvidia investors are encouraged by the continued investment in hardware to support artificial intelligence technology.

Later today, the Federal Reserve will announce its latest decision, which could further impact the market.

In the bond market, yields fell slightly. The benchmark 10-year U.S. Treasury bond yield is at 4.142%, and the 2-year note yield stands at 4.371%.

Happening Today

βœ“ 08:15 AM ET – ADP Nonfarm Employment Change (Jul)

βœ“ 08:30 AM ET – Employment Cost Index (QoQ) (Q2)

βœ“ 09:45 AM ET – Chicago PMI (Jul)

βœ“ 10:00 AM ET – Pending Home Sales (MoM) (Jun)

βœ“ 10:30 AM ET – Crude Oil Inventories

βœ“ 02:00 AM ET – FOMC Statement

βœ“ 02:00 AM ET – Fed Interest Rate Decision

βœ“ 02:30 AM ET – FOMC Press Conference

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PREMARKET SNAPSHOTπŸ“ˆ

Market futures are up, with the S&P 500 rising 0.94%, the Dow increasing 0.24%, and the NASDAQ gaining 1.48%.

S&P500

$5524.50

⬆️ 0.94%

Dow

$41056.00

⬆️ 0.24%

NASDAQ

$19216.75

⬆️ 1.48%

SECTOR SNAPSHOT✨

The market experienced a mixed day with notable gains in Energy and Financials, showing strong performances. Real Estate and Utilities also posted positive results, reflecting investor interest in these sectors. However, Information Technology and Consumer Staples faced significant declines, while Consumer Discretionary and Materials also ended in the red. Overall, despite some sector-specific challenges, several key areas managed to maintain positive momentum.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,489.94

-0.55% πŸ”΄

Consumer Staples

836.01

-0.66% πŸ”΄

Energy

709.46

+1.54% 🟒

Financials

728.86

+1.19% 🟒

Health Care

1,749.47

+0.11% 🟒

Industrials

1,069.85

+0.27% 🟒

Materials

574.50

-0.36% πŸ”΄

Real Estate

259.09

+0.76% 🟒

Information Technology

4,087.49

-2.20% πŸ”΄

Communication Services

293.51

+0.16% 🟒

Utilities

365.08

+0.55% 🟒

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PreMarket Unusual Volume Stocks

πŸ“ˆ Primech Holdings Ltd (PMEC): Primech Holdings Ltd experienced a significant increase in trading activity with a volume of 6,024,524, far exceeding its average volume of 283,770. This surge in activity led to a 69.14% price change, reflecting heightened market interest.

πŸ“ˆ Heramba Electric plc (PITA): Heramba Electric plc saw an extraordinary surge in volume, trading 725,486 shares compared to its average of 38,080. This dramatic increase resulted in a 41.86% price change, indicating strong investor activity.

πŸ“ˆ Bionomics Ltd. ADR (BNOX): Bionomics Ltd. ADR's trading volume rose to 5,357,920, significantly higher than its average of 626,650. The stock's price change of 22.29% mirrors this spike in trading volume.

πŸ“ˆ BIMI Holdings Inc (BIMI): BIMI Holdings Inc saw its volume rise to 960,359, far surpassing its average of 148,680. This increase in trading activity resulted in a 17.83% price change.

πŸ“ˆ Telesis Bio Inc (TBIO): Telesis Bio Inc's volume spiked to 239,698, a substantial increase from its average of 46,770. Despite the increased trading activity, the stock experienced an -8.86% price change.

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Premarket Picks

Bionomics Limited (BNOX) stock skyrocketed 24.68% to $1.04 per share in pre-market trading. The surge follows positive feedback from the FDA on its Phase 2b ATTUNE study for BNC210, a potential PTSD treatment. This green light clears the path for Phase 3 trials.

NuZee, Inc. (NUZE) shares jumped 66.49% to $6.16 per share in pre-market trading after the company filed an 8-K form with the SEC.

Powell Industries, Inc. (POWL) stock surged 25% to over $166.56 per share in pre-market trading following the release of its strong third-quarter fiscal 2024 results.

Faraday Future Intelligent Electric Inc. (FFIE) shares climbed 20.57% to $0.38 per share in pre-market trading after announcing it has regained compliance with Nasdaq's reporting rules.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

FFIE

+24.49%

19.75M

PMEC

+109.05%

3.98M

NVDA

+6.23%

2.82M

NUZE

+93.51%

1.16M

BIMI

+22.76%

860.56K

PITA

+61.63%

294.31K

AMD

+9.07%

241.99K

ALXO

+34.68%

176.43K

BLMZ

+7.78%

149.56K

TPET

+4.30%

142.78K

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Important FDA

Recently Announced

On July 25, 2024, AstraZeneca (AZN) encountered a hurdle when an FDA panel raised concerns about the trial design for its lung cancer drug, IMFINZI. The panel struggled to clearly assess the drug's efficacy across different treatment stages.

Phathom Pharmaceuticals (PHAT) celebrated a major victory on July 18, 2024, with the FDA's approval of VOQUEZNA tablets for heartburn. This marks a significant step forward for the company and offers a new treatment option for patients with non-erosive GERD.

Arcutis Biotherapeutics (ARQT) expanded treatment choices for atopic dermatitis on July 9, 2024, with the FDA's green light for Roflumilast cream. The cream is now available for both adults and children aged six and up, providing relief for mild to moderate cases of the condition.

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Upcoming Announcements

scPharmaceuticals Inc. (SCPH) is eagerly anticipating the FDA's verdict in August on expanding the use of its drug, FUROSCIX, to treat patients with severe heart failure.

ZEVRA THERAPEUTICS, INC. (ZVRA) will undergo a crucial FDA panel review on August 2nd to seek approval for Arimoclomol as a treatment for Niemann-Pick disease type C. A positive outcome could offer a lifeline to patients with this rare and devastating disorder.

Adaptimmune Therapeutics plc (ADAP) closely watching the FDA's decision on August 10th regarding Afami-cel as a treatment for advanced synovial sarcoma. If approved, this immunotherapy could provide new hope for patients battling this aggressive cancer.

Humacyte, Inc. (HUMA) is on the brink of a potential breakthrough as the FDA is set to decide on August 10th whether to approve its Human Acellular Vessel for treating life-threatening vascular injuries. A green light could revolutionize the treatment of these critical conditions.

Happy investing,

Maeve Grace
Editor In Chief
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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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