Why Elliott’s Starbucks Win Could Shake Up Southwest Airlines Next
August 14, 2024
Breaking News
Why Elliott’s Starbucks Win Could Shake Up Southwest Airlines Next. ✈️ Elliott Investment Management, fresh off a major victory at Starbucks, is turning up the heat on Southwest Airlines. The activist investor plans to nominate 10 board members in a bold move to reshape the struggling carrier's leadership and strategy. MarketWatch reports.
EdgeUp
🌟 HuaAI: Huawei readies new AI chip to challenge Nvidia in China. Reuters reports.
💼 RelianceAlign: Reliance, Disney offer concessions to win antitrust nod for India media merger. Yahoo Finance reports.
💧 SpaceXPollute: SpaceX repeatedly polluted waters in Texas this year, regulators found. CNBC reports.
🌐 CitiShift: Citigroup's head of digital assets for markets unit departs. Reuters reports.
🚫 SamStrike: Samsung Electronics' main South Korea union to strike over pay from Thursday. Yahoo Finance reports.
☕ CoffeeCommand: Starbucks stock rallies on hopes of a turnaround under its new CEO. MarketWatch reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.
1. $DGLY: Digital Ally
Total gain: +98.84%
2. $CDT: Conduit Pharmaceuticals
Total gain: +52.87%
3. $JZ: Jianzhi Education Tech
Total gain: +22.62%
4. $BURU: Nuburu
Total gain: +22.01%
5. $LASE: Laser Photonics
Total gain: +16.96%
A Question About Risk
* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 11am ET, as our Risk Management educator
What is the Moving Average R-Zone?
Moving averages are dynamic significant levels. By combining two moving averages, a zone or space is created between them that expands and contracts with price action. At some point, the moving averages will cross and start to separate, producing a potential rotation zone. Future price action may pull back into that zone, find support or resistance, and resume its original direction. This is where trades can be found. Moving averages represent price areas rather than exact levels.
Some traders expect prices to stop directly at moving averages and use them as stop areas, but this approach can be disappointing. Moving averages provide areas where price can react rather than exact stopping points.
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on August 13.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1. $ELWS: Earlyworks Co
Total gain: +169.87%
The stock appeared to be moving on no notable news.
2. $CXAI: CXApp
Total gain: +80.95%
The stock appeared to be moving on no notable news.
3. $LWAY: Lifeway Foods
Total gain: +48.62%
Edward and Ludmila Smolyansky, significant shareholders of Lifeway Foods, have announced the filing of a consent statement with the US Securities and Exchange Commission. This marks the launch of their "Life Back to Lifeway" campaign. The campaign aims to replace the current Board of Directors of the health food company, including CEO Julie Smolyansky, with new leadership dedicated to revitalizing the company with a strategic vision that aligns with the best interests of its shareholders. Benzinga reports.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
CSCO: Cisco Systems
4Q 2024
After Market Close
Estimate: 0.850
Actual: N/A
IFS: Intercorp Financial Services
2Q 2024
After Market Close
Estimate: 0.650
Actual: N/A
BRF: BRFS
2Q 2024
After Market Close
Estimate: 0.060
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am - Consumer price index - July
8:30 am - Core CPI - July
Parting Thoughts
“It is not enough to merely buy a stock because you believe it will go up. The investor must have confidence in the management and a sound understanding of the business and its future potential.”
― Philip Fisher
Sourced in:
“Common stocks and uncommon profits”, by Philip Fisher, published in 1958