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Pre-Market & FDA: What to Know Today
Noor Saba
May 07, 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
✓ 08:55 AM ET – Redbook (YoY)
✓ 10:00 AM ET – IBD/TIPP Economic Optimism (May)
✓ 11:30 AM ET – FOMC Member Kashkari Speaks
✓ 12:00 PM ET – EIA Short-Term Energy Outlook
✓ 01:00 PM ET – 3-Year Note Auction
✓ 03:00 PM ET – Consumer Credit (Mar)
✓ 04:30 PM ET – API Weekly Crude Oil Stock
PREMARKET SNAPSHOT 📈
Stock Futures hint at a positive open with NASDAQ 100 surging over 1.19%.
S&P500$5,180.74 ⬆️ 1.03% | Dow$38,852.27 ⬆️ 0.46% | NASDAQ$16,349.25 ⬆️ 1.19% |
SECTOR SNAPSHOT ✨
Tech stocks are on fire, leading the sector surge with a jump of nearly 1.5% today.
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,468.71 | +1.06% 🟢 |
Consumer Staples | 810.3 | +0.08% 🟢 |
Energy | 712.57 | +0.82% 🟢 |
Financials | 682.5 | +1.17% 🟢 |
Health Care | 1,647.64 | +0.44% 🟢 |
Industrials | 1,049.41 | +1.00% 🟢 |
Materials | 567.24 | +0.63% 🟢 |
Real Estate | 232.01 | -0.02% 🔴 |
Information Technology | 3,790.22 | +1.48% 🟢 |
Communication Services | 290.5 | +1.39% 🟢 |
Utilities | 348.94 | +0.45% 🟢 |
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Unusual Volume
📈 Lyra Therapeutics Inc (LYRA) declined -87.06% to $0.52 on a whopping 108.03 million shares traded after it announced topline results from phase 3 ENLIGHTEN 1 trial for LYR-210 in Chronic Rhinosinusitis.
📈 Investors went wild, sending Strong Global Entertainment Inc (SGE) stock soaring 132.44% to $2.65 on a massive volume of 74.75 million shares after the company declared the proposed acquisition of Strong/MDI Screen Systems, Inc.
📈 Abnormal activity shook Workhorse Group Inc (WKHS), pushing it up 20.50% to $0.19 on a whopping 56.05 million shares traded.
📈 XBP Europe Holdings Inc (XBP) stock recently closed 65.09% upper at $3.50 on substantial volume of 55.61 million shares.
📈 Gamestop Corporation (GME) decrease by -0.97% in a single trading session, with abnormally high trading volume of 47.94 million shares.
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Premarket Movers
reAlpha Tech Corp. (AIRE) experiences a substantial 44.78% surge in pre-market trading after completing the acquisition of Naamche.
Esperion Therapeutics, Inc. (ESPR) sees a significant 19.76% increase, reaching a pre-market price of $2.53 after reporting Q1 2024 financial results.
Hims & Hers Health, Inc. (HIMS) demonstrates a noteworthy 12.70% surge, with a pre-market price of $13.13 after releasing Q1 2024 financial results.
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
FFIE | +13.08% | 15.69M |
ESPR | +24.06% | 3.75M |
AIRE | +44.78% | 3.38M |
FGEN | +18.97% | 3.17M |
RIVN | +6.97% | 1.11M |
ADTH | +5.61% | 447.02K |
HIMS | +14.16% | 240.78K |
ISPC | +11.88% | 214.38K |
FGF | +12.98% | 99.10K |
BVS | +17.50% | 81.21K |
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Important FDA
Recently Announced
Day One Biopharmaceuticals (DAWN) is celebrating a major victory with the FDA approval of their drug Tovorafenib, now marketed under the brand name OJEMDA. This medication brings new hope to children battling a specific type of brain tumor: relapsed or progressive pediatric low-grade glioma.
X Pharmaceuticals (XFOR) can also clink glasses as their drug Mavorixafor, now known as XOLREMDI, received the FDA's green light. This medication offers a new approach to treating WHIM syndrome, a rare and difficult condition affecting people twelve and older.
Neurocrine Biosciences Inc (NBIX) has expanded the reach of their existing medication Ingrezza. The FDA recently approved a new sprinkle formulation, making it more convenient for adults with tardive dyskinesia and chorea associated with Huntington's disease to take their medication.
Upcoming Announcements
May 9th: Pfizer (PFE) is on pins and needles awaiting the FDA's verdict on their full approval application (sBLA) for Tivdak in treating a specific type of recurrent or metastatic cervical cancer. Tivdak currently holds only accelerated approval.
May 12th: All eyes are on Moderna, Inc (MRNA) as the FDA weighs their BLA for mRNA-1345, a vaccine targeting the respiratory syncytial virus (RSV). This vaccine has the potential to be a game-changer in public health.
May 13th: Dynavax Technologies Corp (DVAX) hopes for positive news from the FDA regarding their BLA for HEPLISAV-B, a hepatitis B vaccine. This application seeks to expand the vaccine's use to adults undergoing hemodialysis, a group at high risk for the disease.
🎁 Looking for More? Check out these complementary newsletters for diverse perspectives:
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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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