Unveiling Tomorrow's Titans: Pre-Market Buzz and FDA Decisions

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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)

✓ 09:10 AM ET - Fed Governor Cook Speaks

✓ 10:00 AM ET – Fed Chair Powell Speaks

✓ 11:30 AM ET – 52-Week Bill Auction

PREMARKET SNAPSHOT 📈

Stock futures are mixed, with Nasdaq 100 up 0.29%, while S&P 500 and Dow Jones see slight pre-market dips.

S&P500

$5221.41

⬇️ -0.02%

Dow

$39431.52

⬇️ -0.21%

NASDAQ

$16,388.24 

⬆️ 0.29% 

SECTOR SNAPSHOT 

Most sectors are in the red today, with Industrials leading the decline at -0.45%.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,452.56

-0.22% 🔴

Consumer Staples

826.01

-0.28% 🔴

Energy

714.81

-0.23% 🔴

Financials

692.42

-0.41% 🔴

Health Care

1,670.66

-0.10% 🔴

Industrials

1,058.04

-0.45% 🔴

Materials

577.76

-0.08% 🔴

Real Estate

237.47

+0.29% 🟢

Information Technology

3,805.54

+0.48% 🟢

Communication Services

291.82

-0.18% 🔴

Utilities

361.31

-0.01% 🔴


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Unusual Volume

📈 Faraday Future Intelligent Electric Inc (FFIE) jumped 32.32% to $0.06 on a whopping 291.47 million shares traded.

📈 Investors went wild, sending Gamestop Corporation (GME) stock soaring 74.40% to $30.45 on a massive volume of 187.24 million shares after the meme stock investor "Roaring Kitty" posted a cryptic image on X, his first post in about three years.

📈 Abnormal activity shook Novavax, Inc. (NVAX), pushing it up 47.64% to $13.11 on a whopping 123.51 million shares traded. The company will participate in the BofA Securities 2024 Health Care Conference on May 15, 2024.

📈 CareCloud Inc (CCLD) stock recently closed 84.13% upper at $2.32 on substantial volume of 92.09 million shares. This unusual activity came after the company released details regarding its receipt of an unsolicited, non-binding indication of interest dated March 4, 2024, to acquire the Company for $5.00 per share of its common stock, and the $25 redemption price per share of its 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock

📈 Medical Properties Trust Inc (MPW) increase by 16.74% in a single trading session, with abnormally high trading volume of 66.22 million shares.


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Premarket Movers

GameStop Corp. (GME) experiences a substantial 111.72% surge in pre-market trading after Roaring Kitty’s first online post in three years.

SunPower Corporation (SPWR) sees a significant 97.09% increase, reaching a pre-market price of $5.42.

Maxeon Solar Technologies, Ltd. (MAXN) demonstrates a noteworthy 20.24% surge, with a pre-market price of $2.97. The company announced that it will postpone the release of its Fourth Quarter, Fiscal Year 2023 and First Quarter 2024 Financial Results, previously scheduled for May 15, 2024 U.S. ET / May 16, Singapore Time, to May 23, 2024.

Pre Market Gainers

Pre Market Change

Pre Market Volume

GME

+111.72%

36.08M

SPWR

+97.09%

14.03M

TLRY

+6.03%

3.12M

SPCE

+10.58%

1.75M

TUP

+15.34%

1.49M

PLUG

+7.61%

1.32M

KOSS

+33.87%

1.21M

FUBO

+6.94%

434.12K

HOOD

+4.74%

376.59K

BYND

+24.25%

355.52K


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Important FDA 

Recently Announced

Great news for those fighting recurrent or metastatic cervical cancer! In late April, the FDA granted full approval to TIVDAK, a revolutionary treatment developed by Pfizer (PFE). This decision validates TIVDAK's safety and efficacy, providing renewed hope for patients who have limited treatment options. TIVDAK has the potential to significantly improve outcomes for these individuals.

April was a significant month for Neurocrine Biosciences (NBIX) as well. On the 30th, the FDA approved a new, convenient form of their drug INGREZZA. This innovative formulation comes as an oral sprinkle, offering a valuable alternative for adults with tardive dyskinesia or chorea associated with Huntington's disease who experience swallowing difficulties.

For XFOR Pharmaceuticals, April 30th marked a historic day. The FDA's approval of Mavorixafor brings long-awaited relief to patients aged 12 and above battling WHIM syndrome. This approval signifies not only the drug's effectiveness and safety but also a major step forward in treating this rare and complex condition.

Announcing Today

Ascendis Pharma A/S (ASND) is awaiting a decision from the FDA on their resubmitted New Drug Application (NDA) for TransCon PTH today. This drug is being evaluated for the treatment of adult patients with hypoparathyroidism, a condition where the parathyroid glands don't produce enough parathyroid hormone.

Upcoming Announcements

Bristol-Myers Squibb Co. (BMY) is awaiting a decision from the U.S. Food and Drug Administration (FDA) on May 23rd, 2024 regarding the approval of Breyanzi. Breyanzi is a drug being investigated for the treatment of relapsed or refractory follicular lymphoma, a type of cancer that affects the lymphatic system. The FDA's decision will determine whether Breyanzi can be marketed as a treatment option for this condition.

On May 24th, 2024, a panel of experts at the FDA will be reviewing Awiqli (Insulin Icodec), a drug developed by Novo Nordisk A/S (NVO). Awiqli is being evaluated for its potential as a treatment for diabetes in adults. The outcome of this FDA panel review will determine whether Awiqli can proceed further in the approval process and potentially become available to patients with diabetes.

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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