| | | August 9, 2022 Hey traders! It's Michael here with the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Today is Tuesday, August 9th. Let's get ready to trade! |
| The Dow eked out a small 0.1% gain on Monday, while the S&P 500 and Nasdaq slid to a 0.1% loss. The small-cap Russell 2K rallied 1.0% on the trading session. Today, futures are looking shaky in early-morning trading. S&P 500 contracts are currently down 0.2%. Shares of Novavax are tumbling after the company slashed its sales forecast in response to lower-than-expected revenues from its COVID-19 vaccine. Nielsen Holdings [NLSN] - Last Close: $22.71 Nielsen is surging as investors position themselves for an imminent buyout. The data-gathering and analytics firm announced today that it was postponing a court date and a special meeting of shareholders called to finalize the preliminary agreement between a consortium of private equity investors and Nielsen's majority shareholder. WindAcre Partnership currently holds 27.0% of Nielsen's ordinary shares, and a consortium made up of Evergreen Coast Capital and Brookfield Business Partners LP. If the current terms are finalized, NLSN shareholderswill receive $28 for every outstanding share of common stock. News of the postponed meeting rallied shares of NLSN to a 20.9% gain, and the stock is currently leading the S&P 500 on highly active trading volume.
My Take: Investors are hoping that the postponement is a clue that WindAcre is pushing to get a higher price for its NLSN shares than the original proposal's $28 bid. If they're right, expect to see more gains ahead for this stock. Verona Pharma [VRNA] - Last Close: $6.95 Upbeat clinical data is giving Verona Pharma a premarket boost. The micro-cap biopharma firm announced today that one of its key drug candidates met its primary endpoint in a Phase 3 ENHANCE-2 trial for COPD. The ENHANCE-2 trial showed Verona's Ensifentrine as a Novel inhaled Nebulized COPD therapy demonstrated improvements in lung function and significantly reduced the risk of exacerbations. Verona Pharma's CEO said the company was very pleased with the outcome, and the company hopes to release the full Phase 3 trial data by the end of 2022. VRNA is trading actively with a 57.8% gain ahead of the opening bell. My Take: VRNA has been on a tear lately, and today's rally is piling on even more big gains. The stock was up 76.6% as of Monday's close, and it will clear triple digits if it can hold onto its premarket gains. GoodRX Holdings [GDRX] - Last Close: $7.76 GoodRX is taking off on the back of its strong quarterly numbers. The prescription discount app reported its Q2 earnings early this morning, and the numbers were better than expected. GoodRX's adjusted Q2 earnings of $0.06 per diluted share were down from last year, but still topped the Street's $0.04 target by a 50% margin. Revenues grew 8.6% from last year to $191.8 million for the quarter, beating the consensus estimate of $184.7 million. GoodRX's Q3 guidance was in line with analysts' estimates. GDRX is one of today's top performers with a 38.7% premarket gain. My Take: GoodRX could be an interesting recession play. The company isn't profitable on paper, but it could see a huge influx of demand as worn out US consumers increasingly look for ways to save in today's high-inflation environment. Lemonade [LMND] - Last Close: $25.11 Lemonade's quarterly earnings report is giving its stock a shot in the arm.
The high-tech insurance stock reported its Q2 results early this morning, and shares are rallying on the strong numbers.
Lemonade generated Q2 revenues of $50 million, marking 77% revenue growth from the year-earlier quarter and beating Wall Street's $47.7 million target. The company reported a quarterly loss of $1.10 per share, which also topped the Street's expectation of a $1.32 loss. Lemonade also issued forward-looking guidance that fell in line with consensus estimates. Shares of LMND are up 10.4% in today's premarket. My Take:Good growth numbers for Lemonade, but does this profitless high-tech stock have what it takes to survive a prolonged recession in a high interest rate environment? I'm not so sure, but the stock was trading for $75 a share less than a year ago, so there could be great upside in this trade. |
| GainersOntrak Inc [OTRK] >> +47.0%Tuesday Morning [TUEM] >> +92.2%Bimi International [BIMI] >> +43.5%DeclinersCorMedix [CRMD] >> (58.6%)Aytu BioScience [AYTU] >> (37.9%)Novavax [NVAX] >> (31.6%) Emerson Electric Co [EMR] ...AMSysco [SYY] ... AMTransdigm Group [TDG] ... AMGlobalFoundries [GFS] ... AM Warner Music Group [WMG] ... AMWelltower [WELL] ... PMRoblox [RBLX] ... PMThe Trade Desk [TTD] ... PMCoinbase Global [COIN] ... PMAkamai Technologies [AKAM] ... PMPlug Power [PLUG] ... PMUnity Software [U] ... PM |
| NFIB small-business index [Jul] ... 6a Productivity [Q2] ... 8:30aUnit labor costs [Q2] ... 8:30a |
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