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Pre-Market Pulse: Top Stocks to Watch Now!
Noor Saba
June 11, 2024
You are receiving this newsletter as a subscriber to Premium Stock Alerts
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)
✓ 11:30 AM ET – 52-Week Bill Auction
✓ 12:00 PM ET – EIA Short-Term Energy Outlook
✓ 01:00 PM ET – 10-Year Note Auction
✓ 04:30 PM ET – API Weekly Crude Oil Stock
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PREMARKET SNAPSHOT 📈
The S&P 500, Dow, and NASDAQ all saw gains, with the S&P 500 up 0.25%, the Dow rising 0.17%, and the NASDAQ increasing by 0.39%.
S&P500$5360.79 ⬆️ 0.25% | Dow$38868.04 ⬆️ 0.17% | NASDAQ$19074.67 ⬆️ 0.39% |
SECTOR SNAPSHOT ✨
Broad market gains led by Utilities and Energy, while Consumer Staples and Financials lag behind.
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,452.68 | +0.51% 🟢 |
Consumer Staples | 826.20 | -0.22% 🔴 |
Energy | 688.31 | +0.71% 🟢 |
Financials | 685.34 | -0.39% 🔴 |
Health Care | 1,708.54 | +0.30% 🟢 |
Industrials | 1,035.77 | +0.29% 🟢 |
Materials | 563.00 | -0.11% 🔴 |
Real Estate | 238.52 | +0.45% 🟢 |
Information Technology | 4,136.26 | +0.29% 🟢 |
Communication Services | 303.17 | +0.61% 🟢 |
Utilities | 357.53 | +1.28% 🟢 |
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PreMarket Unusual Volume Stocks
📈 QuantaSing Group Ltd ADR (QSG): Exhibited a trading volume of 3.16 million shares, higher than its average volume of 0.14 million shares. The stock closed at $1.96, marking an increase of 20.25%.
📈 Blue World Acquisition Corp (BWAQ): Experienced a notable trading volume of 0.50 million shares compared to its average of 0.04 million shares. The stock price stood at $8.85, reflecting an increase of 29.77%.
📈 ShiftPixy Inc (PIXY): Recorded an unusual trading volume of 5.84 million shares, well above its average volume of 0.75 million shares. The stock price rose to $1.94, achieving a gain of 32.88%.
📈 Kaixin Holdings (KXIN): Reported a trading volume of 9.30 million shares against its average of 2.68 million shares. The stock closed at $0.15, experiencing an increase of 10.88%.
📈 Nauticus Robotics Inc (KITT): Had a trading volume of 34.43 million shares, higher than its average volume of 14.21 million shares. The stock price ended at $0.39, showing an increase of 70.42%.
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Premarket Picks
Zedge, Inc. (ZDGE) is trading at $3.5400 in pre-market, up 17.61% at 7:34 AM EDT after announcing its Q3 fiscal 2024 results: revenue increased 13.8% to $7.7 million, GAAP net income of $0.1 million, non-GAAP net income of $0.5 million, and Zedge Premium Gross Transaction Value up 44.4% to $0.59 million.
ShiftPixy, Inc. (PIXY) is trading at $1.9000 in pre-market, up 30.14% at 7:44 AM EDT despite no company news; it appears some IR agencies might be pushing this stock, so proceed with caution.
Blue World Acquisition Corporation (BWAQ) saw its price rise to $8.91, a notable increase of 26.29%. This surge follows the extension of the TOYO Solar deal deadline with Fuji Solar to July 2, accompanied by a $30,000 deposit, after receiving shareholder approval last month.
QuantaSing Group Limited (QSG) experienced a significant pre-market increase of 25.15%, bringing its price to $2.09. This boost comes after the announcement of a substantial share repurchase program worth up to US$20.0 million.
Below is a list of other hot stocks in pre-market today:
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
KXIN | +9.51% | 8.71M |
PIXY | +35.62% | 4.12M |
CYN | +15.51% | 1.88M |
NCL | +14.08% | 935.83K |
TRNR | +6.37% | 194.56K |
SAGE | +12.57% | 160.91K |
BWAQ | +36.36% | 137.59K |
FOXO | +5.38% | 72.80K |
RENB | +3.36% | 51.97K |
VERB | +2.42% | 50.91K |
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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.
GSK plc (GSK.L, GSK) On June 7, 2024, GSK received positive news as the FDA approved the extension of the indication for AREXVY, an adjuvanted respiratory syncytial virus (RSV) vaccine, to adults aged 50-59. This approval significantly broadens the age range for this vaccine, enhancing public health defenses against RSV.
Catalyst Pharmaceutical Partners Inc. (CPRX) On May 30, 2024, Catalyst Pharmaceutical Partners received FDA approval to increase the indicated maximum daily dosage of Firdapse Tablets from 80mg to 100mg for the treatment of Lambert-Eaton myasthenic syndrome. This approval enhances the treatment options available for patients with this rare neurological disorder.
Bristol-Myers Squibb Co. (BMY) Also on May 30, 2024, Bristol-Myers Squibb received approval from the FDA for the expanded use of Breyanzi for the treatment of relapsed or refractory mantle cell lymphoma. This approval broadens the therapeutic options available for patients battling this aggressive form of cancer.
Amgen Inc. (AMGN) On May 16, 2024, Amgen received FDA approval for Tarlatamab, under the brand name IMDELLTRA. This is the first and only T-cell engager therapy approved for the treatment of adult patients with extensive-stage small cell lung cancer with disease progression on or after platinum-based chemotherapy.
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Announcing Today
According to the FDA schedule, there are no announcements expected today.
Upcoming Announcements
Ipsen SA (IPSEY) & Genfit S.A. (GNFT) Ipsen SA and Genfit S.A. are both anticipating an FDA decision on June 10, 2024, regarding Elafibranor, proposed for the second-line treatment of primary biliary cholangitis. This decision is important for advancing treatment options for this chronic liver disease.
Eli Lilly and Co. (LLY) Eli Lilly was in the spotlight yesterday, June 10, 2024, with an FDA panel review for Donanemab, their treatment for early symptomatic Alzheimer’s disease. The outcome of this review is pending and will be a critical step towards providing new hope for patients and families affected by this debilitating condition.
Amgen Inc. (AMGN) Amgen is anticipating an FDA decision on June 12, 2024, regarding Tarlatamab for the treatment of adult patients with advanced small cell lung cancer with disease progression on or after platinum-based chemotherapy. This decision could further solidify Tarlatamab's role as a pioneering therapy in this field.
Zai Lab Limited (ZLAB) & Bristol-Myers Squibb Co. (BMY) Both Zai Lab Limited and Bristol-Myers Squibb are 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.
Stay tuned for further updates as we continue to track these important FDA decisions and their implications for the biotech industry.
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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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