Oil Stocks Rally as Crude Hits Record-Highs ð¥

March 8, 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.

Today is Tuesday, March 8th. Here's what's moving the market:

WHAT'S HAPPENING

Stocks continued to slide in Monday's session, with the Nasdaq tumbling to a 3.6% loss. The S&P 500 fell 3.0% and the Dow ended the session with a 2.4% decline. The small-cap Russell 2000 lost 2.5%.

Today, futures are showing gains in the premarket. S&P 500 contracts are up 0.5%.

TODAY'S TOP STOCKS

Alaska Air [ALK] - Last Close: $43.69

Alaska Air is trending on an early morning business update.

The airline released a report this morning outlining some of its expectations for the year ahead. Alaska Air said it expects Q1 fuel costs of $2.60 to $2.65 per gallon, versus analyst estimates of $2.45 to $2.50.

The company also said it continues to plan for a return to 100% of pre-COVID capacity by Summer, with steady growth expected in the second half of the year.

Alaska Air said the recent health and economic crises dramatically impacted the demand for air travel and significantly changed to business operations.

ALK is leading the S&P 500 with a 4.4% gain.

Marine Petroleum Trust [MARPS] - Last Close: $12.11

Marine Petroleum Trust continues to rally on the heels of soaring oil prices.

The Texas-based oil and gas producer has seen huge gains this week as investors look for bullish bets to capitalize on soaring oil prices. Marine Petroleum has been one of the biggest winners.

Gasoline prices are hovering near record highs, and crude oil is flirting with record highs as well.

Marine Petroleum has royalty interests in 55 oil and natural gas leases covering nearly 200,000 gross acres.

The stock gained 70.0% on Monday, and it's showing no signs of slowing down.

MARPS is trading actively with a 103.7% gain.

Nine Energy Service [NINE] - Last Close: $3.59

Nine Energy Service is on the rise on the heels of a strong earnings report.

The oil and gas service provider said it recorded a net loss of $0.52 per share in Q4, marking an improvement from a $0.53 loss per share in Q3.

Analysts expected a loss of $0.55 per share. Revenues grew to $105.1 million from $92.9 million over the same period.

Nine Energy Services said it has seen activity increase, and it expects the coming quarter to be better than Q4 with sequential revenue increases.

Projections call for earning and revenues to improve every quarter throughout 2022.

NINE is trading actively with a 47.4% gain.

US Well Services [USWS] - Last Close: $1.75

US Well Services is soaring after a recent announcement.

The oilfield services company announced an amendment to a term loan agreement on Monday morning. The changes give the company an additional tranche in an aggregate principal amount of $10 million, according to a regulatory filing.

The amendment also provides for incremental increases of up to $25 million in principal amount, not to exceed $35 million in original principal amount for aggregate Term C loans under the agreement.

Shares jumped 18% yesterday morning on the news, but the rally faded to a 1.7% gain by the close.

Today, the stock is soaring again without any additional news. It's unclear whether this recent report is the catalyst for today's rally or a result of increasing bullishness towards oil-related stocks.

USWS is trading actively with a 28.6% gain in this morning's premarket.

RUNNING HOT

Gainers

Hycroft Mining Holdings [HYMC] >> +148.7%
TMC The Metals Corp [TMC] >> +29.7%
Oceanpal Inc [OP] >> +17.5%

Decliners

Imperial Petroleum [IMPP] >> (15.2%)
Jupiter Wellness [JUPW] >> (20.6%)
Terawulf Inc [WULF] >> (18.1%)

EARNINGS

DICK'S Spoting Goods [DKS] ... AM
Olaplex [OLPX] ... AM
Guidewire Software [GWRE] ... AM
Petco Health & Wellness [WOOF] ... AM
Stitch Fix [SFIX] ... PM
MongoDB [MDB] ... PM

ECONOMY

NFIB Small-Business Index [Feb].... 6a
Foreign Trade Deficit [Jan] ... 8:30a
Wholesale Inventories [Jan] ... 10a

Thanks for reading! Don't forget, I'm always eager to hear from you. Reply to this email with your questions, comments, or general feedback, and Ill get back to you as soon as I can.

Wishing you big returns on your investments this week, as always!

- Michael "The Dork" Taylor

P.S. Want My Alerts Delivered To Your Cell Phone? Sign up for mobile alerts and get the latest updates delivered to your cell.

Disclaimer