🗓️ DailyEdge: Tuesday, October 8

Image source: Wikimedia Commons

Judge Shatters Google’s App Store Monopoly. ⚖️ A federal judge has ordered Google to allow rival app stores on Android, dismantling its long-standing control. This ruling could drastically alter the app market, opening the door to new competition and potential changes in app pricing. MarketWatch reports.

🔄 Reset: BP abandons goal to cut oil output, resets strategy. Reuters reports.

🚪 Oilout: Chevron to sell assets worth $6.5 billion to Canadian Natural Resources. Yahoo Finance reports.

🚦Driverless: US Supreme Court rebuffs Uber, Lyft bid to avoid California driver suits. Reuters reports.

⚖️ LawsuitIgnition: Stellantis files new lawsuits against United Auto Workers union. Yahoo Finance reports.

📉 ChipSung: Samsung’s profit recovery seen weakening in Q3. The Business Times reports.

🔋 LucidUnderCharge: Lucid’s quarterly production falls, missing estimates. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $NMHI: Nature's Miracle Holding
Total gain: 91.02%

2. $OTRK: Ontrak
Total gain: 78.02%

3. $BURU: Nuburu
Total gain: 50.74%

4. $VIRI: Virios Therapeutics
Total gain: 48.29%

5. $YANG: Direxion Daily FTSE China Bear 3x Shares
Total gain: 37.44%

* Analyzing the markets with Richie Naso, a Wall Street veteran of over 40 years and former member of the NYSE.

WEEKLY MARKET RECAP:

Markets were resilient as September and the third quarter closed, registering gains despite economic and political uncertainties. The S&P 500 and Nasdaq closed last Monday, September’s last trading day, up 0.4%, while the Dow Jones gained nearly 0.1%. The S&P 500 notched its 42nd all-time high for the year, making it the best September since 1997 and the best start to an election year ever.

QUICK HITS:

Since 1950, the S&P 500 has increased in the last three months of the year by more than 4%, and it’s up 80% of the time.

NVIDIA gained 2.9% this past week after CEO Jensen Huang confirmed that the company’s artificial intelligence chips are in full production, easing concerns about delays.

The closing price of the top three market percent gainers trading near or above $3 on October 7.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $SRRK: Scholar Rock Holding
Total gain: +353.63%
Scholar Rock announced that it has commenced an underwritten public offering of $275 million in shares of its common stock, and pre-funded warrants to purchase shares of its common stock for investors who choose this option instead of common stock. All of the shares and pre-funded warrants are being offered by Scholar Rock. Additionally, Scholar Rock intends to grant the underwriters a 30-day option to purchase up to 15% more shares of its common stock, based on the total securities offered in the public offering. Benzinga reports.

2. $AMBO: Ambow Education Holding
Total gain: +230.89%
The company announced that it has entered into a $1.3 million non-exclusive, annually renewable licensing agreement with Inspiring Futures. Under this agreement, Inspiring Futures is granted the rights to produce the HybriU AI UniBox and sell HybriU, a comprehensive AI-driven, plug-and-play educational solution, in international markets. This collaboration aligns with Ambow's mission to advance the future of education and empower educators and students globally. Benzinga reports.

3. $SOBR: Sobr Safe
Total gain: +165.79%
The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

PEP: PepsiCo
3Q 2024
Before Market Open
Estimate: 2.290
Actual: 2.310

ACCD: Accolade
2Q 2025
Before Market Open
Estimate: -0.440
Actual: -0.300

SAR: Saratoga Investment
2Q 2025
After Market Close
Estimate: 0.940
Actual: N/A

Time (ET) / Report / Period

3:00 am - Fed Governor Adriana Kugler speaks in Europe
6:00 am - NFIB optimism index - September
8:30 am - U.S. trade deficit - August

“The best opportunities often arise from uncertainty and chaos. While others panic, be the one who stays calm, analyzes the data, and finds the hidden opportunities. In every market downturn, there are seeds of the next great investment.”

― Stephen A. SchwarzmanSourced in:
“What It Takes: Lessons in the Pursuit of Excellence”, by Stephen A.
Schwarzman, published in 2019