Acquisition News Has Sent This Biotech Stock Soaring By 65% 🚀

August 07, 2024 | [Read Online]( Acquisition News Has Sent This Biotech Stock Soaring By 65% 🚀 [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=Acquisition%20News%20Has%20Sent%20This%20Biotech%20Stock%20Soaring%20By%2065%25%20%F0%9F%9A%80%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Facquisition-news-sent-biotech-stock-soaring-65) Good morning. Today is August 7th, and we’re going to look at Lyft’s first net profit, Airbnb’s poor revenue forecast, and a biotech stock that is rallying 65%. Previous Close 📈 The markets rebounded yesterday after three consecutive days of decline. All three indices were in the green. Futures Futures are also up today, with futures tied to the Dow Jones Industrial Average up by 0.6%, the S&P 500 by 0.8%, and Nasdaq 100 futures by 1.1%. What to Watch Walt Disney and CVS Health will report their earnings before markets open today. The June Consumer credit report will be released at 3:00 p.m. After the market closes, Monster Beverage will also share its quarterly numbers. [How to Build the Ultimate Dividend Portfolio]( This free workshop shows the 3-step process anyone can use to build what could be an income-producing portfolio of dividend stocks. Plus, you'll learn the TOP 7 dividend stocks for FREE. That way you can start building your own ultimate dividend portfolio as soon as the workshop is over! [See How to Build Your Own Ultimate Dividend Portfolio]( Technology Record Earnings Give Lyft Its First Net Profit, But Future Outlook Softens Lyft reported its first-ever net profit today, driven by a thriving ride-share market and significant cost-cutting measures implemented last year. The company earned a net income of $5.0 million for the quarter ending June 30th, a marked improvement over the $114.3 million net loss from the same period last year. This turnaround was also bolstered by a 41% increase in revenue to $1.44 billion, surpassing analysts' expectations of $1.39 billion. Under CEO David Risher's leadership since last year, Lyft has implemented extensive cost-cutting measures, including significant job reductions, which have helped narrow losses and stabilize fare increases. Despite the strong quarterly performance, Lyft's outlook for the current quarter is less optimistic. The company is forecasting gross bookings between $4.0 billion and $4.1 billion, slightly below the estimated $4.13 billion. Additionally, its adjusted core earnings guidance of $90 million to $95 million falls short of the Street target of $104.3 million. Travel Economic Worries Impacting Airbnb's Q3 Revenue Forecast and Booking Trends Airbnb shares are falling by 15% so far in premarket trading today after projections of Q3 revenue between $3.67 billion and $3.73 billion, which is lower than the anticipated $3.84 billion. Since the beginning of the year, domestic travel in the United States has been under pressure as Americans grow cautious about travel expenditures amid concerns about the economy. For the second quarter, Airbnb reported a profit of 86 cents per share, missing analysts' expectations of 92 cents per share. The company notes a global trend of shorter booking lead times, with travelers waiting until the last minute to book due to increased uncertainty and cautious spending. Airbnb's average daily rate (ADR) for the quarter is up by about 2% and is likely to continue growing in the third quarter. Despite these challenges, Airbnb reported a 9% increase in nights and experiences booked year-over-year, with significant growth in Latin America and Asia-Pacific regions at 17% and 19%, respectively. Total revenue for the quarter that ended June 30th is $2.75 billion, slightly above analysts' estimate of $2.74 billion. However, the net income margin is 20%, down from 26% a year ago. Electric Vehicles Rivian Shares Dipping as Q2 Results Fall Short, But Profitability in Sight Rivian is dropping by over 5% in premarket trading today after announcing mixed second-quarter results. For the second quarter, Rivian reported revenue of $1.158 billion, slightly below the expected $1.165 billion. The company’s adjusted loss per share of $1.13 is narrower than the projected $1.20. The electric vehicle maker is maintaining its full-year loss and production forecasts and is still anticipating a "modest gross profit" by year-end. Rivian also reaffirmed its adjusted EBITDA loss forecast of $2.7 billion for 2024, with capital expenditure outlays reaching $1.2 billion. Retooling upgrades at Rivian’s factories have impacted Q2 deliveries. Last month, the company reported producing 9,612 vehicles and delivering 13,790 vehicles, both figures down from Q1. Despite this, Rivian reaffirmed its guidance for the annual production of 57,000 total vehicles. Rivian ended the second quarter with $7.867 billion in cash and cash equivalents, significantly up from $5.98 billion at the end of Q1. This boost comes partly from a joint venture deal with Volkswagen, which includes an initial $1 billion investment and up to $4 billion more through 2026, aimed at developing next-generation EV architectures. [Own NVDA? Prepare for a "Cash Avalanche."]( The Dow has crossed 40,000, and the S&P has hit over 30 all-time highs this year. Yet, hedge funds are off-loading stocks at record levels. What's happening, and what does it mean for your investments? Discover insights from a 50-year Wall Street legend who warns of a "cash avalanche" soon to hit tech/AI stocks. [Watch the Free Video Now to Learn How to Protect Your Wealth]( Movers and Shakers G1 Therapeutics, Inc. [GTHX] - Last Close: $4.25 G1 Therapeutics is rallying by nearly 65% in premarket trade due to the announcement that Pharmacosmos Group will acquire the firm for $405 million (a 68% premium). This merger will bring together G1’s COSELA, the only FDA-approved drug to reduce chemotherapy-induced myelosuppression, with Pharmacosmos's expertise in hematology. The transaction is expected to close in late Q3 2024. My Take: The acquisition is based on solid synergies between G1 and Pharmacosmos, which might potentially catapult the stock to greater heights in the future. It could be a good stock to keep on your radar. Lumen Technologies, Inc. [LUMN] - Last Close: $5.00 Lumen Technologies is again surging by 37% in premarket trading, continuing from its strong run yesterday, when it grew by 93%. The gains are driven by a robust full-year guidance and new AI deals. During its earnings report, Lumen shared that it has secured $5 billion in new AI deals and announced a partnership with Microsoft, which is the primary reason behind the rally. My Take: Today’s premarket action shows there are still some gains to be made in the stock. Keep a close watch on this one. Inogen, Inc. [INGN] - Last Close: $8.15 Inogen is rising by more than 25% so far in premarket trading today after it announced yesterday a 6.1% increase in Q2 2024 revenue to $88.8 million, driven by higher demand in international and domestic B2B sales. The company’s gross margin improved to 48.1%, and the net loss decreased to $5.6 million from $9.8 million in Q2 2023. Adjusted net loss was $1.6 million, with adjusted EBITDA turning positive at $1.3 million. My Take: Inogen has seen consistent losses in recent quarters, so despite a strong performance in Q2, it would be best to keep this one on your wait-and-watch list for now. [Discover the Tax-Free Strategy to Save Your Retirement]( Feeling the pinch from taxes eating into your retirement savings? Learn about a powerful, tax-free strategy that can protect your nest egg from Washington’s reach. This report reveals the secrets to preserving your wealth and securing your financial future. [Get Your Free Report Now and Safeguard Your Retirement]( Everything Else - [Sony]( outperformed expectations with strong gains in its music and gaming divisions. - [SoftBank]('s Vision Fund is seeing gains after the company unveiled a significant share buyback. - [Novo Nordisk]( lowered its profit forecast amid a Q2 earnings miss. - [Chinese]( export growth slowed in July, while imports saw an unexpected increase. - The U.K. Tech Minister criticized [Elon Musk]('s response to the recent race riots. - Excess capacity and stiff competition have led to a profit decline for [Air Canada](. That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. Best Regards, — Adam Garcia Elite Trade Club [Click here]( to get our daily newsletter straight to your cell for free. P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. 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