October 23, 2024
Image source: Adobe Stock and Wikimedia Commons
TSMC Alerts U.S. of Possible Export Violation After Huawei Chip Discovery. 🌐 The company notified U.S. authorities after discovering one of its chips in Huawei’s AI product, raising concerns over a potential export restriction breach. The chip was identified by TechInsights during a teardown of Huawei's Ascend 910B, despite TSMC having ceased shipments to Huawei since 2020. The incident highlights ongoing challenges in enforcing export controls. Reuters reports.
🚖 Autonomotive: Tesla stock price slides ahead of Q3 earnings. Yahoo Finance reports.
📈 GElevation: GE Aerospace's struggle with supply constraints hits jet engine deliveries. Reuters reports.
🩺 MediZoom: Zoom partners with Suki to offer AI-powered medical note-taking. Yahoo Finance reports.
🚘 Drive$trong: GM stock has best day since 2020 after automaker tops Wall Street’s third-quarter expectations, raises guidance. CNBC reports.
🛡️ DefenseLift: RTX boosts 2024 forecast again on demand for aircraft repairs, defense systems. Reuters reports.
💪 CostCycle: Peloton partners with Costco to sell Bike+ as it looks to reach young, wealthy customers. CNBC 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. $CNSP: CNS Pharma
Total gain: 124.25%
2. $DBVT: DBV Technologies
Total gain: 74.28%
3. $MBIO: Mustang Bio
Total gain: 52.57%
4. $FAMI: Farmmi
Total gain: 48.65%
5. $ZPTA: Zapata Computing Holdings
Total gain: 44%
* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum
Combining Price Action with Yield Curve Insights
While yield curves might seem outside the scope of price action, they can provide crucial context for understanding the broader economic sentiment. For example, a rising 10-year yield typically signals expectations of inflation, which can influence trading strategies, especially for sectors like real estate and consumer goods. By keeping an eye on the 10-year yield, you can better understand market sentiment and adjust your strategy accordingly.
The closing price of the top three market percent gainers trading near or above $3 on October 22.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1. $GNPX: Genprex
Total gain: +136.42%
The company has progressed to the highest dose level in its Phase 1 clinical trial of Reqorsa gene therapy, in combination with Tecentriq, for the treatment of advanced small cell lung cancer. This decision follows positive safety results. Benzinga reports.
2. $BTOC: Armlogi Holding
Total gain: +47.70%
Armlogi announced enhancements to its Warehouse Management System (WMS) through the integration of artificial intelligence. The upgraded WMS is expected to transform how Armlogi streamlines operations, optimizes inventory management, and boosts overall efficiency across its global warehousing network. The new WMS is designed to shorten the learning curve for new users, reduce operational errors, and improve productivity. Benzinga reports.
3. $PHUN: Phunware
Total gain: +39.00%
The stock appeared to be moving on no notable news.
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
CP: Canadian Pacific Kansas
3Q 2024
After Market Close
Estimate: 0.730
Actual: N/A
ALGN: Align Tech
3Q 2024
After Market Close
Estimate: 2.310
Actual: N/A
CCS: Century Communities
3Q 2024
After Market Close
Estimate: 2.560
Actual: N/A
Time (ET) / Report / Period
9:00 am - Fed Governor Michelle Bowman speaks
10:00 am - Existing home sales - September
2:00 pm - Fed Beige Book
“Owning the stock market over the long term is a winner’s game, but attempting to beat the market is a loser’s game.”
― John C. BogleSourced in:
"The Little Book of Common Sense Investing", by John C. Bogle, published in 2007