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Trade of the Day Wake-Up Watchlist

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures were little changed on Tuesday. All three futures (The S&P 500, Dow and Nasdaq) were broadly flat. This came off a rare upside move on Monday as August shapes up to be a losing month overall. More data on US consumer confidence and job openings later this week should clue investors in for what's ahead.

While the markets have been down in August, we've been taking wins in The War Room. Last week our Head Trading Tactician Bryan Bottarelli closed a 166.25% winner on ANF in less than 1 trading day.

Click here to see how overnight trading could lead to more massive winners like this.

 

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

Oracle (NYSE: ORCL)

Oracle is up 3.06% premarket after UBS analysts upgraded its rating from Neutral to Buy with a price target raised by $20 to $140 per share. The positive sentiment was due to UBS' growing conviction that Oracle has a clear advantage in its Graphics Processing Unit capacity and its Oracle Cloud Infrastructure architecture. As a result, analysts believe this could lead to more clients and increase the use of OCI services.

Yesterday our Lead Technical Tactician Nate Bear featured ORCL in his Monday Morning Watchlist. Later that morning he got positioned on the stock and closed a winning trade in less than 1 trading day. He's looking to get back in on a pullback soon.

Click here to get access to Daily Profits Live now.

 

Best Buy (NYSE: BBY)

Best Buy is up 1.04% premarket after posting solid Q2 revenues. The electronics company used discounts to offset a bigger-than-expected slump in same-store sales over the April quarter, and held to its full-year revenue forecast of between $43.8 billion and $45.2 billion. CFO Matthew Bilunas also indicated improved numbers could be in store over the back half of the year.

Yesterday our Lead Trading Tactician Bryan Bottarelli got positioned on BBY before today's open.

Click here to unlock that trade.

 

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Nio, Inc. (NYSE: NIO)

Nio Inc. is down 3.54% premarket after the China-based EV maker missed revenue estimates for the fourth-straight quarter. However, the stock wasn't too hurt since its third quarter outlook is already projected to be above Wall Street forecasts.

 

Heico (NYSE: HEI)

Heico is down 5.62% in premarket after the aerospace and defense components provider posted earnings that fell short of Wall Street expectations. Despite record sales of $722.9 million in the third quarter fiscal 2023, the company incurred acquisition costs related to the Wencor Group acquisition, which decreased net income by approximately $3.5 million, or 3 cents per share.

There's another company in the aerospace sector that our Head Fundamental Tactician Karim Rahemtulla is calling "The Last Great Value Stock." It's just as recongnizable as Walmart, Tesla and American Express, but it's only trading for less than $3.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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