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Amazon, Shopify Strike Deal

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Trade of the Day Wake-Up Watchlist

Attention Readers: We hit a triple-digit winner. Yesterday our Head Trading Tactician Bryan Bottarelli got positioned on AMBA for a 124.47% overnight gain. Here's what one War Room member said after the trade…

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Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures were up on Thursday. Recent economic data showed the Federal Reserve could be on the verge of halting rate hikes. Investors will have a clearer picture after more indications from the central bank's preferred inflation gauge, the Personal Consumption Expenditures Index.

 

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

Shopify Inc. (NYSE: SHOP)

Shopify is up 5.50% premarket after striking a deal with Amazon to open Amazon logistics to sellers. The two e-commerce software and services companies say Amazon's "Buy with Prime" will soon be among the tools available to Shopify's merchants in the U.S. This could lead to more sales for Shopify in the future.

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Okta, Inc. (Nasdaq: OKTA)

Okta is up 10.77% premarket after the cybersecurity company crushed its earnings estimates. It posted second-quarter adjusted earnings of 31 cents per share on revenue of $556 million. Analysts polled by Refinitiv were expecting earnings at 22 cents per share on revenue of $535 million.

 

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Salesforce (NYSE: CRM)

Salesforce is up 5.41% premarket after the software company posted quarterly earnings of $2.12 pre share, which was greater than the $1.90 per share forecast by analysts polled by Refinitiv. It also posted revenue of $8.60 billion, more than expected $8.53 billion.

 

Five Below, Inc. (Nasdaq: FIVE)

Five Below is down 7.07% in premarket after posting a weak outlook. The discount retailer is projecting third-quarter earnings of 17 cents to 25 cents per share, lower than the 40 cents per share forecast by analysts polled by Refinitiv. The company also anticipates third-quarter revenue of $715 million to $730 million, weaker than the $738 million estimated by analysts.

 

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

This Is a No-Brainer!

No Brainer
 

This company would be undervalued at $20 a share.

But now shares are less than $3!

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