The Dow gained 0.1% on Thursday, while other major US benchmarks fell. The Nasdaq tumbled 0.6% on the session, and the S&P 500 slid to a 0.1% loss. The small-cap Russell 2K managed a 0.3% gain on the session. Early-morning futures trading is pointing to a higher open for US stocks. Dow Jones and S&P 500 contracts are both showing 0.4% gains. The Best Way to Play a Shaky Market รฐยยยข An up-and-coming type of option offers quick cash settlement, no early exercise, and may qualify for 60/40 blended tax treatment. It could be the best way to trade around today's uncertain market, and getting started couldn't be easier. Get the Details & Start Trading XSP Today The SEC is investigating hedge fund Melvin Capital for taking huge losses during meme-stock mania last year. Activist investing firm ValueAct has build a 6.7% stake in The New York Times, and sources say they plan to push the paper towards more subscription-based content. Toast Inc [TOST] - Last Close: $18.15 Toast is moving higher after its quarterly earnings report. The cloud technology stock announced its Q2 earnings numbers after Thursday's closing bell, and investors are giving the report a warm reception in today's premarket. Toast narrowed its operating loss to $0.11 per share from a $0.64 per-share loss a year earlier, beating the consensus EPS estimate of -($0.23). Revenues came in at $675 million for Q2, which also beat the Street's $647.6 million target. Toast's Q3 revenue guidance of $700 to $730 million also topped the Street's $663.2 million expectation. TOST is up 12.9% following the upbeat earnings release. My Take: Toast had a very solid quarter in Q3, and the company is showing signs of progress. However, it's still not profitable, and the cloud industry is extremely competitive. WeTrade Group [WETG] - Last Close: $14.39 WeTrade Group is moving higher on news of a big sale. The China-based eCommerce stock announced early this morning that it has entered into a sales agreement with Parkway Medical Limited to sell monkeypox virus test kits and antigen kits for US$50 million. Under the terms of the deal, Pursuant to the Agreement, Parkway Medical agreed to purchase 5 million units of nucleic acid test and 6 million units of antigen tests for an aggregate amount of US$50 million, and Parkway Medical has paid US$1 million as deposit. WeTrade Group CEO said the deal came as a result of its acquisition of the exclusive sales channel from Jiqing Biomedical Technology Co. Shares of WETG are up 55.9% on active trading volume. My Take: This move higher seems to be a bit overdone, so I'd watch for a pullback. There's also no short data available at the moment, so it's impossible to say if this rally is the result of a short squeeze. Unity Biotechnology [UBX] - Last Close: $0.8501 A strong quarterly report and new drug data is rallying Unity Biotech. The micro-cap biotech stock announced its Q2 results this morning and shared a clinical update regarding its UBX1325 drug candidate in diabetic macular edema patients. Unity said a single injection of UBX1325 lead to progressive, statistically significant, and clinically meaningful improvements at 12 and 18 weeks compared to sham treatment. For the second quarter, Unity reported a better-than-expected operating loss of $0.19 per share, which topped the Street's -($0.28) EPS target. UBX is one of the premarket's top performers with a 100.0% gain. My Take: UBX's drug data looks very promising, and its earnings report showed its cash runway is sufficient for the foreseeable future. This stock could be promising, but choose you entry points wisely or you could get burned. Addvantage Technologies Group [AEY] - Last Close: $1.41 Addvantage Technologies is surging after a record-breaking quarterly report. The telecom equipment distributor released its Q3 earnings report following Thursday's closing bell, and the numbers sparked a sharp rally in the stock. Addvantage grew revenues 63% YoY to a record revenue of $27.8 million, and it generated net earnings $0.07 per share for the company. AEY is up 30.5% in the after-hours following its strong quarterly release, and it's still running hot ahead of today's opening bell. My Take: Today's breakout could be a pivot point for this micro-cap telecom stock. The stock has met strong resistance at $1.50 per share in the past, but it looks like today's rally will help it breakthrough that milestone. |