Payroll Company Goes Boom...

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Trade of the Day Wake-Up Watchlist

Paycom came out with a quarterly earnings of $1.90 per share, beating the Zacks Consensus Estimate of $1.76 per share.

Good morning Wake-Up Watchlisters! While you're sipping that organic Ethiopian coffee you'll see stock futures are up on what could be a wild day for the markets. In case you haven't heard – the Federal Reserve is about to do something it hasn't done in 20 years – give interest rates a major bump.


Here's a look at the top-moving stocks this morning.

Paycom Software Inc. (NYSE: PAYC)

Paycom Software is up 10.24% premarket after the maker of payroll and human resources software beat earnings estimates and boosted its outlook for the full year. Paycom came out with a quarterly earnings of $1.90 per share, beating the Zacks Consensus Estimate of $1.76 per share. The quarterly report represents an earnings surprise of 7.95%. Paycom Software is a stock to keep an eye on.


Scotts Miracle-Gro Co. (NYSE: SMG)

Scotts Miracle-Gro is up 9.05% premarket after its latest earnings report. The company came out with quarterly earnings of $5.03 per share, which beat the Zacks Estimate of $4.69 per share. This represents an earnings surprise of 7.25%. Scotts Miracle-Gro is looking strong.


Starbucks (Nasdaq: SBUX)

Starbucks is up 6.55% premarket as the coffee company reported better sales than expected. The company reported actual earnings of $7.64 billion vs. $7.62 billion expected. Transactions were a decent chunk of revenue growth, meaning people are continuing to use the brand despite three price increases in the last 6 months. Keep an eye on Starbucks going forward.


We've been in on Starbucks as part of our Trade of the Day Plus portfolio. We also have a stock we're calling the 'Last Great Value Stock' and we're highly recommending it for our members. It's currently trading at under $2, but an upcoming announcment on May 12 could send shares much higher. Click here to unlock this trade.

Advanced Micro Devices (Nasdaq: AMD)

Advanced Micro Devices is up 5.90% premarket after the chip giant reported better than expected earnings. Sales were up 71% from a year ago and the company raised its full-year revenue guidance. Worldwide spending on cloud infrastructure services jumped 34% to $55.9 billion in the first quarter, according to data from research firm Canalys, highlighting huge opportunities for companies supplying chips and other hardware to the industry. AMD is looking strong.

We were tracking AMD's implied volatility in The War Room yesterday and our members got in position. It's strategies like these that have allowed us to carry a 94% win rate during the Ukraine sell off. Want in on the action? We're offering a FREE one-week subscription to The War Room as part of our War Open House. Click here to start unlocking our trades for FREE from May 9-13.



Lyft is down 26.07% premarket after a weaker-than-expected outlook. Investor concerns over a planned increase in spend on driver incentives played a role in the dip. Though rider demand has increased as more people start traveling again, attracting drivers remains a struggle. This had led to longer wait times and high fares for riders. Lyft is looking volatile right now.


Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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