Jumat, 01 Maret 2024

Oof New York City Bancorp...

Trade of the Day Wake-Up Watchlist

Good Morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures were down on Friday. The markets are pulling back after contracts on the S&P 500 and Nasdaq 100 closed at record highs. New York City Bancorp fell more than 25% (see stock list below) and Thursday's inflation reading was more encouraging than expected, showing a 0.4% increase, up 2.8% from a year ago.

With upward movement in the markets yesterday, our Head Trading Tactician Bryan Bottarelli got positioned on AI in The War Room. He closed the trade for a 41.8% gain in 1 trading day.

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Here's a look at the top-moving stocks this morning.

New York City Bancorp (NYSE: NYCB)

New York City Bancorp is down 28.18% in premarket after a series of negative announcements. The bank disclosed a massive fourth-quarter loss of $2.7 billion. Also, CEO Thomas Cangemi departed the company. This follows a rapid expansion in 2023, including acquisitions that propelled the bank over the $100 billion asset threshold, triggering new regulatory requirements. These developments led to downgrades and concerns over the bank's ability to integrate its acquisitions and meet regulatory standards.

 

NetApp (Nasdaq: NTAP)

NetApp is up 17.09% in premarket after the company lifted its annual profit forecast, benefiting from resilient demand for cloud services. This comes amid enterprises investing in high-performance storage to utilize artificial intelligence for enhancing business productivity. The company's modern approach to unified data storage is resonating well with customers. NetApp now expects its full-year 2024 adjusted profit per share to be between $6.40 and $6.50, an increase from the prior range of $6.05 to $6.25.

With the first 2024 earnings season fading into the rearview, our Lead Technical Tactician Nate Bear recently announced his next Profit Surge Trader pick. Nate focuses on following the "post-earning surge" chart pattern, which allows him to trade ONE TICKER over and over again for maximum potential gains.

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Dell Technologies (NYSE: DELL)

Dell is up 22.62% in premarket trading after reporting Q4 earnings that surpassed expectations. The company announced revenue of $22.32 billion, beating estimates of $22.15 billion, and adjusted earnings per share of $2.20, surpassing the expected $1.72. Additionally, Dell is increasing its dividend to shareholders to $1.78 per share. This performance was driven by strong demand for information technology equipment, especially for artificial intelligence work, indicating a recovery in the PC market and a surge in demand for AI servers.

Advanced Micro Devices (Nasdaq: AMD)

Advanced Micro Devices is up 2.67% premarket after reaching new all-time highs. The company reached a $300 billion valuation, partly due to enthusiasm surrounding artificial intelligence (AI). The tech sector, especially AI-related stocks like AMD, has been buoyed by positive market sentiment and bullish analyst outlooks on the sector. This comes amid broader market movements and expectations around interest rate cuts, which have also contributed to the rally in tech stocks.

Our Lead Technical Tactician closed a winning trade on AMD yesterday in Daily Profits Live.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

We Could Be Less Than 3 Months Away From an AI Super-Event

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