| | | March 1, 2022 Welcome to the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks. Keep an eye out for our Premarket Reports moving forward and, as always, we invite you to reply to this email with your feedback, suggestions, or comments. Thanks for being a Dork reader. Now, without further ado, let's get into it. Today is Tuesday, March 1st. Here's what's moving the market: |
The Nasdaq gained 0.4% on Monday, and the S&P 500 slid to a 0.2% loss. The Dow lost 0.5% on the session, while the Russell 2K advanced 0.4%. Today, futures are pointing to sharp losses at the open. S&P 500 contracts are down 0.9% ahead of the opening bell. Russian Winter Officials at the Nasdaq and NYSE temporarily suspended trading for stocks in Russia-based companies following new sanctions from the US and its allies. Exchange officials say it's a temporary measure while they attempt to interpret and comply with any sanctions. Therefore, the stocks could resume trading at some point soon. The Russian currency is also suffering as the result of sanctions. The ruble fell as much as 30% in comparison to the USD on Monday, and Russia's central bank hiked interest rates to 20% to stave off a currency crash. Gold and Bitcoin have both jumped in the past few days, and some suspect it could be due to an influx of demand from ordinary Russians and the Russian government attempting to flee the ruble. Brent crude oil has also spiked to above $100 a barrel today after briefly falling below it for a few days.
We're also beginning to see sanctions on Russia's energy exports. If the trend continues, sanctions could begin to have a much more pronounced impact on global markets. Target Corp [TGT] - Last Close: $199.77 Target is taking center stage this morning after a strong earnings report.
The retailer reported fiscal Q4 adjusted earnings of $3.19 per diluted share and beat the Street's $2.85 EPS target. However, Target's revenues came in and $30.99 billion for the quarter and missed the consensus estimate of $31.38 billion. Target's guidance for Q1 and the FY 2022 also underwhelmed analysts' targets. However, the company is optimistic that increasing margin pressures will subside earlier in the year, though that seems hard to believe at the current rate global evens are unfolding. TGT is up big despite the lackluster earnings report. The retail stock is leading the S&P 500 with an 11.8% gain on active trading volume. Workday Inc [WDAY] - Last Close: $229.05 Workday is running hot on the heels of a strong quarter. The cloud computing company reported non-GAAP income of $0.78 per share on revenues of $1.38 billion for its fiscal fourth quarter, marking a 21.6% year-over-year increase from the year-earlier quarter's $1.13 billion top-line result. Workday's numbers surpassed the Street's target of $0.71 EPS on $1.36 billion in revenues. The enterprise cloud firm also said it expects subscription revenues to grow at a 22% clip in fiscal 2023, and it expects to generate up to $5.55 billion from subscription income alone. WDAY is one of the top performers in the NASDAQ-100 following its Monday evening earnings release. Shares are currently up 7.1%. CTI BioPharma Corp [CTIC] - Last Close: $1.90 💥 CTI BioPharma is breaking out on a key drug approval.
Regulators from the U.S. Food & Drug Administration approved CTI BioPharma's bone marrow cancer drug, Vonjo AKA pacritinib, for treating adult patients suffering from specific types of bone marrow cancer who also have low blood platelet counts. It is only the third drug ever approved to treat the disease, according to Reuters. A CTI BioPharma press release also noted, "VONJO is the first approved therapy that specifically addresses the needs of patients with cytopenic myelofibrosis." CTIC is trading actively with a 35.3% gain in today's premarket.. Mullen Automotive [MULN] - Last Close: $0.6880 Mullen continues to rise after yesterday's breakout. Yesterday, we reported a 45% premarket gain in Mullen Automotive in the premarket. Well, that rally didn't end at the open. MULN went on to gain a whopping 145% by the end of the time. That's a 100% upside from where we alerted our members. We hope you cashed on a nice profit on the rally! The stock has so far carried its momentum through the after-hours and into today's pre-bell trading session. No new catalysts have emerged since the company released its update on its solid-state polymer battery pack yesterday, but shares are up big. MULN is trading actively with a 5.4% gain. |
| Gainers Avenue Therapeutics [ATXI] >> +98.6% Gbs [GBS] >> +50.3% American Rebel Holdings [AREB] >> +27.8% Decliners GoodRX [GDRX] >> (33.1%) Semler Scientific [SMLR] >> (24.8%) Ambarella [AMBA] >> (18.2%) Target [TGT] ... Premarket AutoZone [AZO] ... Premarket Hormel Foods [HRL] ... Premarket Domino's Pizza [DPZ] ... Premarket Hewlett Packard [HPE] ... After-hours Salesforce [CRM] ... After-hours |
| Markit manufacturing PMI (final) [Feb] .... 8:30a ISM Manufacturing [Feb] .... 10a Construction Spending [Jan] ... 10a |
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