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- Trader TV Watchlist - August 27, 2024
Trader TV Watchlist - August 27, 2024
Trader TV Watchlist - August 27, 2024
Tuesday August 27, 2024
Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.
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Economic Events:
0900 - S&P/Case-Shiller home price m/m for June: Expected 1%; Prior 1%
0900 - S&P/Case-Shiller home price y/y for June: Expected 6.14%; Prior 6.8%
1000 - CB consumer confidence for August: Expected 100.9; Prior 100.3
1000 - Richmond Fed composite index for August: Expected -15; Prior -17
Premarket Trading:
Trading Higher ($): JD, TCOM, RR
Trading Lower ($): NVO, PARA, MARA
Earnings Today:
Premarket: SCSC, BMO, HAIN
Post-market: S, BOX, JWN
In The News
Apple Inc (AAPL)
-0.30%
On watch after announcing that Luca Maestri will step down as CFO on January 1, 2025. The company named Kevan Parekh, who previously served as the Vice President of Financial Planning and Analysis at Apple, as Maestri’s replacement. Maestri will retain his leadership role on the Corporate Services following his departure. Apple recently announced a product launch event on September 9th, where they are expected to reveal the iPhone 16.
CAVA Group Inc (CAVA)
-8.66%
Gapping down on reports, citing SEC filings, that several executives are selling some of their shares in the company. CEO Brett Schulman sold 210,504 shares for $24.87 million, while co-founder Ted Xenohristos sold 98,490 shares for $12.387 million. CFO Patricia Tolivar, board member James White, and a trust linked to board member David Bosserman also sold shares, collectively amounting to over $1.4 million. Artal International has also divested 6 million shares valued at approximately $732 million, according to filings from Cava. The company’s stock made new all-time highs last week following a well-received earnings report and forward guidance.
Crypto Stocks
-1.18%
Trading lower as a group amid a pullback in Bitcoin and Ethereum. Bitcoin traded just below the $62,500 level as of Tuesday morning, while Ethereum dropped more than 4% to trade just above the $2,600 level.
MARA, COIN, BITO, IBIT, ETHE, MSTR, RIOT, CLSK, HUT
Tesla Inc (TSLA)
+0.21%
On watch after a federal appeals court revived the company’s lawsuit challenging Louisiana's ban on direct vehicle sales, reversing the dismissal of its due process and antitrust claims while upholding the dismissal of its equal protection claim. Additionally, CEO Elon Musk suggested that California should pass an AI bill requiring safety testing by tech companies and AI developers.
JD.Com Inc (JD)
+3.84%
Trading sharply higher premarket following the announcement of a $5 billion share buyback program. The program is effective as of September 2024 and is set to expire at the end of August 2027. The announcement follows Walmart’s recent announcement of its plan to offload its entire $3.7 billion stake in the company.
Weight-Loss Drug Makers
-2.79%
On watch as Eli Lilly begins selling single-dose vials of its weight-loss drug Zepbound in the U.S. through its website LillyDirect, targeting patients who can't get insurance reimbursement; the lowest doses are priced at $399 and $549 for a month's supply. This move aims to boost the availability of Zepbound amidst ongoing shortages, with Lilly confident that both the vials and auto-injectors will meet U.S. demand, offering a 50% discount compared to other obesity medications in the GLP-1 class.
LLY, NVO, VKTX, HIMS
Trip.com Group Ltd (TCOM)
+8.46%
The company’s US-listed shares are trading higher premarket following its earnings report. Sales of $1.76 billion missed analysts estimates of $1.79 billion, while adjusted earnings of $1.00 per American depository share exceeded expectations of $0.74.
Paramount Global (PARA)
-5.46%
Trading sharply lower premarket following the end of its "Go Shop" period on Monday evening, during which Edgar Bronfman, Jr. withdrew his $6 billion bid for Paramount's holding company, National Amusements. Paramount's board expressed continued confidence in its agreed transaction with Skydance Media, expected to close in early 2025, which includes a $2.4 billion investment from the Skydance investor coalition.
Trinity Biotech PLC (TRIB)
+63.55%
Gapping up after increasing its 2024 revenue projections for its TrinScreen HIV test from $8 million to $10 million, citing strong ongoing demand. The stock has a float of 5.43 million shares.