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- Trader TV Watchlist - July 22, 2024
Trader TV Watchlist - July 22, 2024
Trader TV Watchlist - July 22, 2024
Adara LePage
July 22, 2024
Monday July 22, 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:
0830 - Chicago National Activity Index for June: Expected -0.06; Prior 0.18
Premarket Trading:
Trading Higher ($): TSLA, NVDA, NIO, DJT, MARA
Trading Lower ($): VZ, CRWD, CELH, AAL
Earnings Today:
Premarket: VZ, TFC, IQV, KSPI, BOH
Post-market: CLF, NUE, SAP, NXPI, CDNS, LOGI
Top Stories
NVDA Rises on Report of Export-Compliant China Chip, Another Rally for DJT? | Futures are trading higher as investors evaluated the implications of President Joe Biden's decision to exit the presidential race. Trump-linked stocks like Trump Media & Technology Group and Phunware saw gains, while most U.S. Treasury yields, including the 10-year, declined. Market participants are preparing to digest a host of economic data prints this week, including the quarterly GDP growth estimate for Q2 on Thursday and the PCE price index, the Fed’s preferred inflation gauge, on Friday. The PCE data could be especially important ahead of the July FOMC meeting, which is scheduled for next week. Earnings from tech heavyweights like Tesla and Alphabet are also on the docket for this week. |
In The News
NVIDIA Corp (NVDA)
+1.87%
Trading higher premarket after Reuters reported that the company is developing a version of its new "Blackwell" AI chips for the China market that will comply with U.S. export controls, with plans to work with Chinese distributor Inspur for its launch and distribution. The "B20" chip, part of the series set for mass production later this year, is expected to be significantly faster than its predecessor.
Tesla Inc (TSLA)
+1.08%
CEO Elon Musk announced that the company will have humanoid robots, called Optimus, in low production for internal use next year, with high production for other companies expected by 2026. These robots, developed to address labor shortages and perform repetitive or dangerous tasks in various industries, have been in development for several years by companies like Honda and Hyundai's Boston Dynamics. Tesla is scheduled to report earnings after the bell on Tuesday, July 23.
CrowdStrike Holdings (CRWD)
-3.96%
Trading lower premarket after Piper Sandler cut its price target for the stock from $400 to $310. The analyst cited the aftermath from last week’s global tech outage, which occurred amid a CrowdStrike update, as the reason for the price target decrease.
Trump Media & Technology Group (DJT)
+0.60%
On watch after President Joe Biden announced he would not seek reelection, endorsing Vice President Kamala Harris for the Democratic ticket. Former president Donald Trump, the Republican presidential candidate, owns roughly 64.9% of the company.
Verizon Communications Inc (VZ)
-3.17%
Trading lower premarket following its earnings report, with quarterly operating revenue of $32.8 billion falling short of the estimated $33.063 billion. Earnings of $1.15 per share were in-line with expectations. The company guided fiscal 2024 earnings of $4.50 to $4.70 per share, compared to an estimate of $4.58.
American Airlines Group Inc (AAL)
-1.23%
Trading lower premarket following a downgrade from Bernstein. The analyst cut its rating for American Airlines from Outperform to Market Perform and lowered its price target from $18 to $12. The company is set to report earnings before the bell on Thursday, July 25.
Tilray Brands Inc (TLRY)
+3.35%
Trading higher premarket after announcing that its German facility, Aphria RX GmbH, has received the first new cannabis cultivation license under Germany's new Cannabis Act, MedCanG. This license enables Aphria RX to cultivate and manufacture a wide range of medical cannabis, improving patient access to high-quality, locally produced medical cannabis. Approximately 14.3% of Tilray’s float is sold short.
Serve Robotics Inc (SERV)
+43.05%
Continuing to trade sharply higher after rallying on Friday, when Nvidia disclosed a 10% stake in the company. A filing revealed that Nvidia had 62,500 shares in the company, valued at an average price of $4 per share.
Richtech Robotics Inc (RR)
+30.61%
Gapping up after announcing the installation of ADAM, its robotic beverage system, at a Ghost Kitchens International located inside a Walmart. The installation is one of 240 planned locations for the integration and operation of ADAM.
