Buckle up for a busy day! 🚨

May CPI data and a Federal Reserve announcement are both on today's schedule.                                                                                                                                                                                                                                                                                                                                                                                                                 June 12, 2024 | [Read Online]( Good Morning! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Let’s get ready to trade! Markets 📈 Stocks closed Tuesday’s trading session with mixed results as investors looked forward to noteworthy events on today’s schedule. The Nasdaq outperformed, while the Dow and Russ2K edged lower. - Dow [-0.3%] - S&P 500 [+0.2%] - Nasdaq [+0.8%] - Russell 2K [-0.3%] Futures are edging higher ahead of this morning’s May CPI report. Both Dow and S&P 500 contracts are up about 0.1% in early trading. What to Watch Today: Today’s schedule will feature two big events that investors will watch closely. First, the May CPI report will drop at any minute and provide investors with an updated look at our fight against inflation. Later in the day, the Federal Reserve will wrap up its June policy meeting before issuing a press release on its interest rate decision for the month. The central bank is expected to hold rates steady, but Chairman Jerome Powell’s post-meeting press conference could drum up some volatility in today’s session. [The AI Software Revolution Is Here – Don’t Get Left Behind!]( The AI revolution is entering a new era, and the spotlight is shifting to groundbreaking software. Industry giants are betting big on these cutting-edge innovations, pouring billions into the AI software market. As this transformative technology reshapes entire industries, fortunes will be made – and you have the chance to be part of it. The question is, will you seize this once-in-a-lifetime opportunity, or watch from the sidelines as others get rich? [Get the AI Software Stocks That Could Change Your Life Forever HERE!]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 National Amusements Halts Talks with Skydance on Paramount Deal, Sources Say 🎬 National Amusements has ended discussions with Skydance regarding a proposed merger with Paramount Global, concluding months of negotiations without a deal. National Amusements, controlled by Shari Redstone, had previously agreed on economic terms for a merger involving Skydance, RedBird Capital, and KKR. Breakdown of Merger Talks 🛑 Despite reaching economic terms, the deal stalled as National Amusements and Skydance could not agree on all terms. National Amusements, which owns 77% of class A Paramount shares, announced on Tuesday that they were unable to reach mutually acceptable terms. "NAI is grateful to Skydance for their months of work and looks forward to ongoing collaboration," the statement said. Market Reaction 📉 Following the report, Paramount shares closed nearly 8% lower on Tuesday. National Amusements expressed support for Paramount’s strategic plan and ongoing efforts to drive value for shareholders. The company highlighted its commitment to working with Paramount’s Office of the CEO and Board of Directors. Points of Contention ⚖️ Sources familiar with the matter indicated that a disconnect on certain terms, including a "majority of the minority" vote requested by Redstone, contributed to the breakdown. Skydance found this clause impractical to add after lengthy discussions. Additionally, internal disagreements, including private comments critical of Skydance CEO David Ellison, were cited as factors. Paramount and Skydance declined to comment on the failed talks. The Wall Street Journal earlier reported the cessation of discussions. The Special Committee of the Board of Directors of Paramount Global confirmed that they did not vote on any potential transaction as no agreement was reached. Featured Earnings 💰️ - Vera Bradley [VRA] ... AM - Affimed [AFMD] ... AM - Coda Octopus Group [CODA] ... AM - 51Talk Online Education Group [COE] ... AM - Broadcom [AVGO] ... PM - Dave & Buster'S Entertainment [PLAY] ... PM - Oxford Industries [OXM] ... PM - Torrid Holdings [CURV] ... PM - Cango [CANG] ... PM Economy 🏗 - Consumer price index [May] ... 8:30a - FOMC interest-rate decision ... 2:00p - Monthly U.S. federal budget [May] ... 2:00p - Fed Chair Jerome Powell press conference ... 2:30p Running Hot 🔥 Gainers - Golden Heaven [GDHG] >> +63.9% - Wang Lee Group [WLGS] >> +40.6% - SU Holdings [SUGP] >> +25.5% Decliners - Thermogenesis [THMO] >> (36.7%) - Tonix Pharma [TNXP] >> (39.4%) - Kwesst Micro Systems [KWE] >> (21.7%) Avidity Biosciences [RNA] - Last Close: $28.92 Newly published clinical data from a Phase ½ trial of AOC 1020 for Facioscapulohumeral Muscular Dystrophy is rallying Avidity Bio today. According to a press release, AOC 1020 produced a 50% mean reduction across multiple DUX4 regulated gene panels. Functional improvements included muscle strength, reachable workspace, and positive trends in patient-reported outcomes. The company places to accelerate the initiation of registration cohorts in the trial due to the early success. RNA is up 23.6% on just under half-a-million shares traded. My Take: RNA is on pace to set a new 52-week high after this rally, but it could find price support around the $29 mark. Beamr Imaging [BMR] - Last Close: $4.40 Yesterday evening, Beamr announced its AI-ready video processing solution is now available in The Oracle [ORCL] Cloud Marketplace. The application allows users to transform videos in the emerging AV1 format, enabling the modernization of large-scale video libraries. BMR is a top mover with a 26.1% gain on nearly 4 million shares traded. My Take: There’s not a lot of substance to this announcement from BMR. Watch out for a pump and dump. Cyngyn [CYN] - Last Close: $0.0950 Cyngyn is surging after providing an update on its advanced AI-driven “computer vision for autonomous machines” early this morning. The company said it has successfully deployed the technology on material handling vehicles, such as forklifts. CYN is up 19.2% on more than 42 million. My Take: I think companies are just putting out press releases with buzz words like “NVIDIA” and “AI” to trigger Wall Street buying algorithms. Once again, there’s not a lot of substance in CYN’s announcement. Molecular Partners [MOLN] - Last Close: $4.99 Upbeat data from preclinical trials of MP0712 is lifting shares of Molecular Partners in today’s premarket. The company is developing the drug in partnership with Orano Med, and early data shows favorable anti-tumor activity and safety profile. The companies say they’re planning a first-in-human study, and it expects to publish initial data sometime in 2024. MOLN is up 17.8% but volume is thin at less than 50K shares traded. My Take: MOLN is already trading in a pretty high range, so I’m not sure whether now is a good time to make an entrance. It could take some time for this trial to play out, so it might be wise to wait for a more favorable entry price. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. Elite Trade Club Text ELITE to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign up for SMS]( [Privacy Policy]( | [Advertiser Disclosure]( *Alternative investments are speculative and possess a high level of risk. No assurance can be given that investors will receive a return of their capital. Those investors who cannot afford to lose their entire investment should not invest. Investments in private placements are highly illiquid and those investors who cannot hold an investment for an indefinite term should not invest. Private credit investments may be complex investments and they are subject to default risk. [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. 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