This is the AI name to watch today

Good day, 360!

Here are our TOP three investing ideas today. These setups look primed! Be the best prepared trader on the Street!

SOUN - 2nd Day play, closed 30% higher after announcing dynamic interactions with generative AI on Tuesday

APP - AppLovin 30% higher in pre-market after issuing strong guidance

HOOD - 5% higher after earnings, as co-founders cancel share-based compensation valued at $500 million

SOUN - 2nd Day play, closed 30% higher after announcing dynamic interactions with generative AI on Tuesday

Soundhound AI (SOUN) was the AI trade de jour yesterday after an AI related PR on Tuesday. Anyone who was short from Tuesday could be in trouble today as SOUN closed near the highs yesterday. The stock is in play today and is one to keep on your radar along with other AI names.

$4.90-$5 was a resistance area yesterday and in the after-hours today. That will be an important line in the sand.

Above it, targets to the upside are $6, $7 and then $8. If there are trapped shorts the move could be significant.

To the downside, potential areas of support are $4.40 then $4.25. $4 is a major level with $3.60, $3.30 and $3 being the next major targets below that for bears.

APP - AppLovin 30% higher in pre-market after issuing strong guidance

Despite missing on EPS, APP beat on revenue with sales of $702.31M vs $689.86M estimate. The company said it saw Q1 revenue of $685M-$705M vs the $682.17M estimate.

The market loved the news with the stock up over 30% in the pre-market and Keybanc maintaining an Overweight rating and raising its price target to $22, representing another 30% upside from current levels.

$16.20 was support in the pre-market with $16.80 acting as resistance so that will be an important range today.

Above $16.80, the first target for the bulls will be the after-hours high of $17.95. The next potential resistance above that is $18.56 with $18.84 and $19.18 also being prior levels of resistance.

Below $16.20 the first target to the downside would be $15, with $14 and $13.20 below that.

HOOD- 5% higher after earnings, as co-founders cancel share-based compensation valued at $500 million

Despite missing on EPS and Sales estimates, Robinhood (HOOD) is gapping higher this morning. That’s very unusual after an earnings miss. The market is a forward-looking mechanism and the fact that HOOD management announced they would forgo share compensation to the value of $500 million is a positive sign for the stock.

That's $500 million of dilution and approximately 50 millions shares at current prices that will not hit the market. Investors cheered the conservative approach from management and could mark the beginning of a turnaround for the stock despite the earnings miss.

$10.80 was support in the premarket, with the $11.15-$11.25 area acting as resistance.

The after-hours high of $11.40 would be the first target for bulls. Above that, $11.63 was a previous major resistance area and then there is a gap fill to $12.03 above that. $12.50-$12.75 would then be the next target.

Below $10.80 there is a gap fill to $10.47 with potential support at $10.22 and then the psychological $10 level below that.

Economic Calendar (EST)

8:30am Initial Jobless Claims

10:30am EIA Natural Gas Report

Earnings for Today (After Market)

AIRC, APDN, ATEX, AYX, BAP, BARK, BE, BHF, CBT, CC, CLSK, COUR, CRSR, CUZ, DOCS, DXCM, EQR, EXPE, FLO, FLUX, FORR, G, GNSS, KN, LADR, LGF, LPTH, LTRX, LYFT, MESA, MHK, MODG, MSI, NET, NGL, NLS, NWSA, OFC, OSCR, PECO, PETV, PINE, PRO, PXLW, PYPL, QLYS, RBC, REG, RGCO, RICK, ROAD, RSSS, RWT, SANG, SPSC, SRTS, STEP, SVM, TCX, TEX, ULH, USX, VCTR, VRSN, VTR, VVI, VWE, XAIR, YELL, YELP

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IPG: Interpublic Increases Common Stock Dividend for Eleventh Consecutive Year and Announces New Share Repurchase Program

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DIS price target raised to $130 from $119 at KeyBanc

DIS price target raised to $110 from $98 at Barclays

DIS price target raised to $141 from $125 at Wells Fargo

DIS Price target: Raised to $140 from $115 at Guggenheim

DIS price target raised to $133 from $126 at Credit Suisse

DIS price target raised to $135 from $115 at Bac

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