| Wynn Resorts [WYNN] - Last Close: $74.93 Wynn Resorts just made a very promising announcement.
The casino and hotel operator's Macau unit has been awarded a renewal of its gaming concession from the local government.
However, the final award of the contract remains subject to documentation of its exact terms and conditions with the Macau government. JPMorgan upgraded WYNN from 'perform' to 'outperform' on the news. WYNN is leading the S&P 500 with a 5.2% gain on active trading volume. My Take: Macau is a huge growth hub for WYNN, so winning the extension was a high priority for the company and investors. The decision wasn't entirely unexpected, but Macau is such a pivotal growth engine that shares are going up on the news regardless. Pinduoduo [PDD] - Last Close: $65.75 Pinduoduo is surging on a strong quarterly report. The China-based eCommerce stock posted its Q3 earnings results this morning, and the results surpassed expectations. Pinduoduo reported Q3 adjusted earnings of US$1.21 and beat the analyst estimate of US$0.72. Revenues of US$4.98 billion also topped the Street's US$4.32 billion estimate. News of the double-line beat sent PDD to a 14.9% gain, and it's one of this morning's most active premarket stocks. My Take: This rally puts PDD over a key resistance point at $70. If it can hold on, it could find itself in a new up-trend. Chinese stocks can be risky, but there could be some noteworthy swing trade potential here. Taboola.Com [TBLA] - Last Close: $1.84 Toboola just landed a heck of a deal with a major player. The search engine-focused AI firm has signed a 30-year exclusive commercial agreement with Yahoo. Under the agreement, Taboola will exclusively run native advertising across all of Yahoo's digital properties, with ads available for purchase on Yahoo DSP. In exchange, Yahoo gets 24.99% of Taboola's total issued shares on a combined post-transaction basis and representation on the firm's board of directors. Both boards have approved the deal, and it is expected to close in Q1 of 2023. TBLA is one of today's top performers with a 56.5% gain on active trading. My Take: This is a bit of an odd deal, but probably good for TBLA overall. The tiny company now has access to capital resources that could help it better withstand today's high interest rate environment. Talkspace [TALK] - Last Close: $0.60 Acquisition rumors are powering Talkspace to sharp premarket gains. According to a report from Israel publication Calcalist, American Well (AKA Amwell) is considering acquiring the virtual behavioral health company. Talkspace has fallen on hard times recently. Last week, it received a non-compliance notice from the Nasdaq due to its low share price. TALK's share prices have fallen 68.5% since August, and the company looked like it was in a bad place until these buyout rumors surfaced. According to the Calcalist report, the companies are discussing an acquisition price of around $1.50 per share, reflecting a valuation of $200 million for TALK. TALK is up 43.3% on news of the potential buy-out. My Take: TALK is currently trading for $0.88 apiece, so a $1.50 buyout price still gives shareholders a chance at a great return. It's risky because talks could always fall through, but it could be a worthwhile trade if you believe the hype. GainersRecruiter.Com [RCRT] >> +24.3%Hellbiz [HLBZ] >> +21.7%Singing Machine [MICS] >> +38.7%DeclinersJE Cleantech [JCSE] >> (14.1%)Heritage Insurance [HRTG] >> (13.1%)ZIM Integrated Shipping [ZIM] >> (10.5%) Pinduoduo [PDD] ... AM
Anavex Life Sciences [AVXL] ... AM
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Joyy [YY] ... PM | 