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.

Happening Today

✓ 08:30 AM ET – Continuing Jobless Claims

✓ 08:30 AM ET – PPI (MoM) (May)

✓ 08:30 PM ET – Initial Jobless Claims

✓ 12:00 PM ET – FOMC Member Williams Speaks

✓ 01:00 PM ET – 30-Year Bond Auction

PREMARKET SNAPSHOT 📈

The S&P 500 rose by 0.85%, the Dow dipped by 0.09%, and the NASDAQ increased by 1.33%.

SECTOR SNAPSHOT ✨

Strong market performance driven by Information Technology and Industrials, while Consumer Staples and Energy lead the declines.

PreMarket Unusual Volume Stocks

📈 Golden Heaven Group Holdings Ltd (GDHG): Exhibited a trading volume of 180.50 million shares, significantly higher than its average volume of 5.17 million shares. The stock closed at $0.20, marking an increase of 14.53%.

Cyngn Inc (CYN): Experienced a notable trading volume of 168.80 million shares compared to its average of 25.70 million shares. The stock price stood at $0.10, reflecting an increase of 7.89%.

DDC Enterprise Ltd. (DDC): Recorded an unusual trading volume of 105.65 million shares, well above its average volume of 1.68 million shares. The stock price surged to $1.54, achieving a significant gain of 198.10%.

Longeveron Inc (LGVN): Saw an exceptional trading volume of 74.82 million shares, compared to its average volume of 3.40 million shares. The stock price rose to $1.81, with a substantial increase of 120.73%.

Beamr Imaging Ltd (BMR): Reported a trading volume of 56.47 million shares against its average of 2.29 million shares. The stock closed at $5.23, experiencing an increase of 18.86%.

Premarket Picks

Longeveron Inc. (LGVN) is trading at $2.4700 in pre-market, up 36.46% at 7:03 AM EDT after providing an encouraging update and improved revenue, with positive developments in treating Hypoplastic Left Heart Syndrome (HLHS), a rare congenital heart defect affecting approximately 1,000 babies per year.

NextDecade Corporation (NEXT) is trading at $8.27 in pre-market, up 5.62% at 7:07 AM EDT after Aramco and NextDecade announced a Heads of Agreement for the 1.2 MTPA long-term offtake of LNG from the Rio Grande LNG Facility.

Broadcom Inc. (AVGO) is trading at $1,696.83 in pre-market, up 13.46% at 7:12 AM EDT after announcing Q2 FY2024 results: revenue of $12.5 billion, GAAP net income of $2.1 billion, non-GAAP net income of $5.4 billion, and adjusted EBITDA of $7.4 billion. The company declared a quarterly dividend of $5.25 per share and a ten-for-one stock split effective July 15, 2024.

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

Important FDA 

Recently Announced

The FDA has been particularly active in recent weeks, delivering a mix of outcomes for biotech companies seeking approval for their innovative treatments.

Ipsen SA (IPSEY) On June 11, 2024, Ipsen SA received significant news as the FDA approved Elafibranor for the second-line treatment of Primary Biliary Cholangitis (PBC). This approval marks a crucial advancement for patients needing additional treatment options for this chronic liver disease.

Genfit S.A. (GNFT) Also on June 11, 2024, Genfit S.A. received accelerated approval from the FDA for Elafibranor for the treatment of Primary Biliary Cholangitis (PBC). This expedited approval process highlights the importance and potential impact of this treatment for patients with PBC.

Amgen Inc. (AMGN) On May 16, 2024, Amgen received FDA approval for Tarlatamab for the treatment of adult patients with advanced small cell lung cancer with disease progression on or after platinum-based chemotherapy. This approval marks a significant advancement in the treatment options for this aggressive cancer.

Announcing Today

According to the FDA schedule, there are no announcements expected today.

Upcoming Announcements

Bristol-Myers Squibb Co. (BMY) Bristol-Myers Squibb is awaiting an FDA decision on June 15, 2024, regarding the expanded use of Augtyro for the treatment of patients with NTRK-positive locally advanced or metastatic solid tumors. This decision could significantly enhance treatment options for patients with these specific cancer types.

Zai Lab Limited (ZLAB) Zai Lab Limited is also anticipating an FDA decision on June 15, 2024, for the expanded use of Augtyro in treating patients with NTRK-positive locally advanced or metastatic solid tumors. The outcome could broaden the therapeutic options available for these patients.

Geron Corporation (GERN) Geron Corporation is anticipating an FDA decision on June 16, 2024, regarding Imetelstat for the treatment of transfusion-dependent anemia in patients with lower-risk myelodysplastic syndromes. This approval could provide a new therapeutic option for patients suffering from this condition.

Stay tuned for further updates as we continue to track these important FDA decisions and their implications for the biotech industry.

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.