Oncology Company Surges 66%

Merger rumors are good news for investors                                                                                                                                                                                                                                                                                                                                                                                                                 August 07, 2024 | [Read Online]( Oncology Company Surges 66% Merger rumors are good news for investors [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=Oncology%20Company%20Surges%2066%25%3A%20Merger%20rumors%20are%20good%20news%20for%20investors%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Foncology-company-surges-66) Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 Yesterday’s comeback rally was short-lived as U.S. indexes slid downward again today. The Nasdaq Composite ended out the day in the worst shape, 1.05% lower than its previous close. - DJIA [-0.60%] - S&P 500 [-0.77%] - Nasdaq [-1.05%] - Russell 2K [-1.03%] [7 Proven Winners to Buy and Hold Forever]( Every investor I know is worried about the same thing right now… Will this incredible market rally continue, or are we about to see a massive correction? Look, the honest answer is nobody knows. But I DO know a way to stop worrying about the market’s next move…Own a select group of stocks that can weather whatever the market has in store. These 7 stocks fit the bill and I’m making the full list available completely FREE for a limited time in our new report, “7 Stocks to Buy and Hold Forever.” [Get it now.]( (Clicking the link above will opt you into a subscription with MarketBeat) Market-Moving News 📈 Disney Surpasses Expectations with Strong Q3 Earnings and Streaming Profitability Disney's latest fiscal third-quarter earnings surpassed expectations, demonstrating strong growth across several divisions. The entertainment giant reported adjusted earnings per share of $1.39 and generated revenue of $23.16 billion, exceeding Wall Street's forecast. A key highlight of this quarter was Disney's streaming services—Disney+, Hulu, and ESPN+—which turned a profit for the first time, ahead of schedule. The combined streaming sector posted a $47 million operating profit, a stark contrast to the $512 million loss reported in the same quarter last year. Excluding ESPN+, the direct-to-consumer streaming unit faced a $19 million loss. CEO Bob Iger emphasized the success of Disney’s film and TV content, attributing it as a major driver behind the company's growth. Disney+ Core subscribers rose by 1% to 118.3 million, and Hulu subscribers increased by 2% to 51.1 million. The entertainment segment’s revenue climbed 4% to $10.58 billion, thanks to subscription growth and price hikes, although traditional TV network revenue saw a 7% decline. The U.S. theme parks division experienced a slight downturn due to inflation and reduced consumer demand, but Disney’s overall revenue grew by 4% to $23.155 billion. ESPN's revenue saw a 5% increase, bolstered by a 17% rise in domestic advertising. Despite these challenges, Disney remains optimistic about future growth. Iger outlined plans for technological enhancements and the addition of live channels to their streaming platforms. He also mentioned Disney's forthcoming crackdown on password sharing, aiming to improve profitability. The company is committed to investing heavily in its theme parks over the next decade, expecting these investments to drive accelerated growth in the future. Nike's Olympic Success Boosts Sales and Outshines Competitors Nike has capitalized on the Summer Olympics, experiencing a significant boost in demand for its new product launches and outperforming competitors. The event's opening week, from July 26 to August 1, saw a notable increase in visits to Nike’s direct-to-consumer site. Website visits to Nike peaked at 2 million on July 31 following U.S. gymnast Simone Biles’ historic seventh Olympic gold medal and the U.S. women’s team securing their third gold. During this period, Nike and Puma saw increased traffic, while Adidas, Hoka, and On experienced declines. Out of the visits to Nike.com, 86,900 resulted in sales. In contrast, Adidas had 532,500 visits, with only 3,600 likely converting into purchases. Daniel Reid, Senior Insights Analyst at Similarweb, noted that continued victories by Nike-sponsored athletes could sustain this momentum throughout the Olympics. Nike has heavily invested in this year's Olympics, spending more than ever before to revitalize sales and compete with emerging rivals. CFO Matthew Friend mentioned that the company is reinvesting nearly $1 billion in consumer-facing activities for fiscal 2025, including product launches and enhanced sports marketing efforts during the Paris Olympics. As the official sponsor of the U.S. Olympic & Paralympic team, Nike introduced a range of products, including the Jordan 4 Retro SE shoes and the Olympic Electric Pack, featuring new designs like the Alphafly 3 and Pegasus. On the resale platform StockX, the Jordan 4 Retro SE Paris Olympics Wet Cement shoes, retailing for $225, became the highest-selling Olympic product, traded over 8,373 times by the end of July. Despite this Olympic boost, Nike has faced challenges this year compared to its competitors in the running, performance, and casual shoe categories. However, the games have sparked renewed interest in Nike, making it a standout option right now. Shopify Shares Soar After Strong Q2 Performance Exceeds Expectations Shopify's shares surged by up to 22% in early trading on Wednesday following the company’s strong second-quarter results, which exceeded Wall Street’s expectations. Despite a challenging economic backdrop affecting consumer spending, Shopify reported significant growth. The Canadian e-commerce firm posted earnings per share of 26 cents, surpassing the 20 cents anticipated by analysts. Revenue for the quarter reached $2.05 billion, exceeding the expected $2.01 billion. Notably, Shopify’s gross merchandise volume (GMV) increased by 22% to $67.2 billion, well above the forecasted $65.8 billion, according to FactSet. Shopify, known for its software solutions for online merchants as well as advertising and payment processing services, continued to perform well even amid a mixed consumer spending environment. CFO Jeff Hoffmeister noted that the company managed to capture additional market share despite economic uncertainties. Unlike rivals such as Amazon, Etsy, and Wayfair, which have reported cautious consumer spending and a shift towards cheaper brands, Shopify's diverse merchant base has helped it navigate the slowdown more effectively. President Harley Finkelstein attributed the company's success to its broad range of merchants across different industries and regions. For the upcoming third quarter, Shopify anticipates revenue growth in the low-to-mid-20s percentage range year-over-year. Analysts from FactSet predict a 21% increase, bringing sales to approximately $2.07 billion. [Free Report: Five Top Cheap Stocks Poised for a Big Move]( Some of the greatest opportunities can be found in undervalued stocks. Often, a stock will become undervalued because of negative events, like the pandemic. Perhaps the company missed earnings, became overlooked, or was hit with downgrades. Or, maybe the stock fell along with its competition. Here are five of the most exciting, cheap stocks you may want to take a look at today. [Download free report here…]( Top Winners and Losers 🔥 G1 Therapeutics [GTHX] $7.06 (+66.12%) G1 Therapeutics announced a definitive merger with Pharmacosmos Group today, leading to a share spike. PetIQ [PETQ] $30.42 (+47.89%) PetIQ surges on the heels of a $1.5 billion sale to Bansk Group. Upstart Holdings [UPST] $33.30 (+39.51%) Upstart Holdings reported better-than-expected results for second quarter and optimistic projections for this fall. Talis Biomedical [TLIS] $4.55 (-49.50%) Talis Biomedical left investors unsettled after bringing in directors specializing in liquidation and bankruptcy. Emergent Biosolutions [EBS] $5.72 (-41.87%) Emergent Biosolutions shares cascade after sharing significant losses in its Q2 earnings report. Nevro Corp [NVRO] $4.83 (-44.42%) Nevro faltered after missing revenue and earnings goals for the second quarter.w That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback! Thanks for reading. I'll see you at the next open! Best Regards, — Adam G. Elite Trade Club Text ELITESTOCKS 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 Mobile Alerts Now]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. 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