🗓️ DailyEdge: Tuesday, October 15

Image source: Wikimedia Commons

US Mulls AI Chip Export Caps for Nvidia and AMD. 📊 The Biden administration is in early talks to impose new limits on AI chip sales to select nations, focusing on the Persian Gulf. This move could reshape global AI capabilities as the US tightens control over its semiconductor power. Yahoo Finance reports.

💡 NucleiPower: Google to buy power for AI needs from small modular nuclear reactor company Kairos. Reuters reports.

🛑 BoeingStrike: Boeing factory strike crosses 1-month mark as pressure mounts on new CEO. CNBC reports.

🎥 VidEdge: Adobe starts roll-out of AI video tools, challenging OpenAI and Meta. Reuters reports.

✈️ JetSet: Elliott requests special meeting at Southwest Airlines. Yahoo Finance reports.

🌏 GoldmanLift: Goldman Sachs raises China's GDP forecast to 4.9% in 2024. Reuters reports.

⚠️ CamGlitch: NHTSA opens probe into nearly 36,000 Ford vehicles over rear-camera failure. Reuters 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. $DBGI: Digital Brands Group
Total gain: 110.66%

2. $BNZI: Banzai International
Total gain: 44.59%

3. $LIPO: Lipella Pharmaceuticals
Total gain: 40.2%

4. $HOTH: Hoth Therapeutics
Total gain: 27.43%

5. $WOLF: Wolfspeed
Total gain: 23.02%

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

LAST WEEK:

The stock market saw a positive rally despite mixed economic signals. The S&P 500 gained 1.4%, driven by strong earnings reports from big banks and sectors like technology and transportation. This occurred despite mid-week inflation data, which raised questions about future Federal Reserve rate cuts. In response to inflation concerns, U.S. Treasury yields rose, reflecting investor caution about the economic outlook.

Energy markets also saw notable movement as oil prices rose by 2% amid continued geopolitical tensions and disruptions from Hurricane Milton.

Looking forward, investor attention is expected to shift toward upcoming earnings reports from major companies, including UnitedHealth, Johnson & Johnson, and Netflix, along with economic indicators like jobless claims and retail sales, which will provide more insight into the economy’s current state.

The closing price of the top three market percent gainers trading near or above $3 on October 14.

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

1. $VERB: Verb Technology Company
Total gain: +60.94%
Verb Technology Company and GO FUND YOURSELF! have released the full, unredacted text of a letter from Verb Technology and the CEO Rory J. Cutaia to stockholders. This letter, distributed via Form 8-K on October 11, 2024, provides key insights into the company's current position. CEO Cutaia shared details about Verb Technology's market cap, approximately $3.8 million, and, as of the most recent Form 10-Q filing, the company held around $17.2 million in cash. Notably, the only debt is a minimal, low-interest SBA loan of about $125,000, with a 3.75% interest rate and a 30-year term. Benzinga reports.

2. $RANI: Rani Therapeutics Holdings
Total gain: +57.43%
The stock appeared to be moving on no notable news.

3. $LBPH: Longboard Pharmaceuticals
Total gain: +51.65%
Lundbeck and Longboard Pharmaceuticals have announced an agreement for Lundbeck to acquire Longboard. According to the terms, Lundbeck will initiate a tender offer for all outstanding shares of Longboard common stock. Longboard shareholders will receive a cash payment of USD 60.00 per share. The transaction carries an approximate equity value of USD 2.6 billion and a net value of USD 2.5 billion (about DKK 17 billion), net of cash, on a fully diluted basis. Benzinga reports.

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

JNJ: Johnson & Johnson
3Q 2024
Before Market Open
Estimate: 2.210
Actual: 2.420

BAC: Bank of America
3Q 2024
Before Market Open
Estimate: 0.770
Actual: 0.810

OMC: Omnicom Group
3Q 2024
After Market Close
Estimate: 2.020
Actual: N/A

Time (ET) / Report / Period

8:30 am - Empire State manufacturing survey - October
1:00 pm - Fed Governor Adriana Kugler speaks

“You have to keep your priorities straight if you plan to do well in stocks.”

― Peter LynchSourced in:
“Beating the Street”, by Peter Lynch, published in 1993