In this article and video, Insider Financial recaps the day's stock market action and discusses the hot stocks on our radar.
This video covers SPY, QQQ, DIA, IWM, TLT, BTC, CRWD, PANW, ACIU, VAXX, PAY, NYCB, RNLX, FSR, NIO, TSLA, NKLA, SOUN, MARA, VKTX, TGT.
Video Summary
The major market averages closed out Monday’s trading session to the downside as the indices hovered in a tight range for most of the day. Treasury yields on the other hand caught a bid higher.
We get Jay Powell testimony on Wednesday and markets are pricing in a dovish Fed. Bitcoin on the verge of new highs. Gold new highs. Investors are betting on a June interest rate cut. We shall see what he says in his testimony to Congress.
Notable companies due to report Tuesday include Target (TGT), NIO (NIO), Ross Stores (ROST), Nordstrom (JWN), CrowdStrike (CRWD), and Box (BOX).
CRWD CrowdStrike Holdings (NASDAQ:CRWD) is scheduled to report fourth-quarter earnings on Tuesday, March 5th, after market close.
Analysts expect a year-over-year increase in both the top and bottom lines, with earnings per share of $0.82 on revenues of $839.96 million.
The cybersecurity firm is expected to post strong fourth-quarter results, benefiting from strong demand for its cybersecurity amidst an increase in online threats.
Last month, Palo Alto's comments about businesses suffering "spending fatigue" in regard to cybersecurity costs as well as pricing adjustments dragged cybersecurity stocks lower.
PANW earnings dump and then the greatest trader of our generation Nancy Pelosi stepped in and bought call options. Can make a lot of money trading options.
AC Immune (ACIU) will have multiple presentations at the International Conference on Alzheimer’s and Parkinson’s Diseases. Vaxxinity (VAXX) will also present clinical data from its UB-312 program in Parkinson’s disease and preclinical data from its anti-tau program in Alzheimer’s disease at the International Conference on Alzheimer’s and Parkinson’s Diseases and related neurological disorders.
NYCB slumped 10% in Monday afternoon trading after two major ratings firms downgraded the bank's credit ratings again after the bank disclosed a material weakness last week.
RNLX disclosed it has been approached by a publicly traded diagnostics company about a possible acquisition and issued an update on its financial position.
In terms of charts:
FSR ugly. TSLA, NIO, and NKLA down. Entire EV sector weak right now.
SOUN not seeing support. Be cautious.
MARA ugly reversal.
VKTX make or break. Above $100 and really going to squeeze.
Bottom Line
As we keep saying, there are always opportunities in the markets, and it’s our job to find winning stocks to trade. Huge gains can be made in such a short amount of time.
It’s essential to look for stocks that have yet to run. There are plenty of opportunities, and we look at hundreds of stocks weekly for our subscribers.
Remember, all it takes is one or two to become a winner, and you’ve crushed the market indices (and Jim Cramer) for the year.
Good luck to all (except the shorts and Cramer)!
WHEN INSIDER FINANCIAL HAS A NEW COMPANY TO RESEARCH, IT IS IMPORTANT TO PAY ATTENTION. AFTER ALL, OUR FREE NEWSLETTER PROFILED MANY TRIPLE-DIGIT WINNERS FOR SUBSCRIBERS. WE ALWAYS ARE LOOKING FOR MOMENTUM BEFORE IT HAPPENS!
Disclosure: We have not been compensated for this article/video. Insider Financial is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
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