🏃 Another big run for Weight Watchers

Good day, 360!

Here are our top 3 investing ideas today. These setups look primed! Be the best prepared investor on the Street!

FRTX - Over 50% higher this morning after announcing Phase 1 success

RIGL - Gapping 30% higher after crushing earnings estimates

WW - Weight Watchers is a 2nd day play, closes up 79% after Sequence, Weekend Health acquisition

FRTX - Over 50% higher this morning after announcing Phase 1 success

Fresh Tracks Therapeutics announced topline results from its phase 1 study of its oral drug FRTX-02 which met its primary endpoint for daily oral treatment for atopic dermatitis and other autoimmune diseases.

The $3.05 area has been resistance in the after-hours and should be an important pivot point today.

Above it, the first major target for Bulls would be the pre-market high of $3.33. Above that there is potential resistance at $3.50, $4 and then $4.64.

Below $3.05 there is potential support at $2.80 and then $2.60. Below that, targets to the downside are $2.50, $2 and then a gap fill to $1.83.

RIGL - Gapping 30% higher after crushing earnings estimates

In the after-hours yesterday, RIGL Pharmaceuticals reported Q4 EPS of $0.01 vs -$0.09 estimated. Revenue for the quarter came in at $51.3M vs the $36.52M consensus.

The market LOVED the huge beat and surprise profit, and the stock is gapping over 30% higher on the numbers this morning.

$1.89 was resistance in the after-hours which then acted as support in the pre-market and should be an important pivot point today.

Above that the first major target for Bulls would be the pre-market high of $2.23. Potential resistance levels above that are at $2.40, $2.60, $2.70 and then $2.90.

Below $1.89 there is potential support at $1.70-$1.73, $1.60 and then a gap to fill at $1.47.

WW - Weight Watchers is a 2nd day play, closes up 79% after Sequence, Weekend Health acquisition

Weight Watchers International (WW) missed earnings estimates by reporting Q4 sales of $223.9 million vs $224.53 million expected and issued worse than expected Q1 guidance of Q1 revenue of ~$235million vs $243.89 million expected.

However, the company also announced that it would acquire Sequence, Weekend Health for $106 million and the market responded positively to the telehealth company acquisition.

WW has a history of some big runs, and after selling off over 90% from 2021 levels yesterday buyers finally took control.

$6.40 acted as support yesterday and should be an important pivot point today.

Above it, the first target for bulls would be yesterday’s high of $7.07. Potential resistance higher is at $7.40, $7.80, $8.20 and then $9.

Below $6.40 there is potential support at $5.90, $5.70. Further targets to the downside are at $5, $4.60, $4.30 and then $4.

Economic Calendar (EST)

7:00am MBA mortgage applications 

8:15am Employment report

10:00am JOLTS

10:00am Fed Powell speaks

10:30am EIA Petroleum report

Earnings for Today (After Market)

ADES, ASAN, ASRT, BFRI, BGSF, CDXC, CLLS, CNFR, DADA, ECOR, EOLS, ESTE, FFIE, FOSL, GLRE, GPRK, GWRS, HDSN, IDT, KLXE, KRMD, LDI, LMB, LOMA, MDB, METC, MIRM, MLR, NAPA, NDLS, NEPH, ONL, OPRX, PFIE, QNRX, RBT, RDVT, REPX, SALM, SLNG, SMRT, SONX, SOVO, SPIR, STR, TACT, TCON, TIPT, USIO, VET, VSEC, VTOL

Top Headlines

INTC Intel Wants $5 Billion More From Germany for a Chip Plant -Bloomberg

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ROC: ROC Energy Acquisition Corp. Confirms Funding and Second Extension of Deadline to Complete Initial Business Combination

FITB Fifth Third Announces Acquisition of Big Data Healthcare, a Payments Company Serving National Health Systems, Physicians

AAL DAL American Airlines prepared to match Delta's pilot pay rates -CEO

MESO FDA Accepts Mesoblast’s Resubmission of the Biologic License Application for Remestemcel-L In Children with Steroid-Refractory Acute Graft Versus Host Disease as a Complete Response and Sets Goal Date of August

NSC: A Norfolk Southern train conductor and former local rail union leader was killed in a crash just days after a second major derailment in Ohio. @Alex_Presha reports as the NTSB opens a special investigation into the railway company’s safety practices. ABC

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MYNZ Mainz Biomed Launches Number of Educational Events in Germany to Raise Awareness for CRC Screening and Early Detection

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AMPH Amphastar Pharmaceuticals Receives FDA Approval for Naloxone Hydrochloride Nasal Spray 4mg

PLTR signs $99.6 mln deal with U.S. State Department

F Ford Offers Discounts For Mustang Mach-E Electric SUVs In China

TSLA Tesla Inc Shares Fall 0.8% in Pre-Market Trading Following Berenberg Downgrade to 'Hold' and China's Passenger Car Sales Data Release

President Biden to propose 5.2% federal pay increase - Washington Post

SHLS: Shoals Technologies Group, Inc. Announces Pricing of Secondary Offering of 24,501,650 Shares of Class A Common Stock by Selling Stockholders -- Priced @$24.70

CDTX: Closing of Public Offerings of Common Stock and Preferred Stock and Full Exercise of Underwriter’s Option to Purchase Additional Shares in Public Offering of Common Stock

SAGE BIIB: Sage Therapeutics and Biogen Share Update on FDA Advisory Committee for Zuranolone

PERF: Perfect Corp. Launches Brand New AR 3D Viewer and 3D Authoring Tool to Elevate Virtual Try-On Shopping Experience and Simplify Ring and Watch SKU creation

HNI to acquire Kimball International (KBAL) for $485 million in cash and stock

PLTR: Department of State Selects Palantir to Modernize Data Management for the Bureau of Medical Services

TLSA Tiziana Life Sciences Announces Publication in Proceedings of the National Academy of Sciences (PNAS) Illustrating the Immunological Basis of the Mechanism of Action for Intranasal Foralumab

CSTL Recommendations by Expert Consensus Panel Relating to Risk-Stratification Tests and Tools for Use in Cutaneous Melanoma Have Been Adopted as an Official Policy Recommendation of the National Society for Cutaneous Medicine

BBIO BridgeBio Pharma Announces Pricing of Public Offering of Common Stock of 8.82 Million Shares at $17 Each

AVIR: New Data Showcasing Favorable Profile of Bemnifosbuvir for Treatment of COVID-19 and Hepatitis C to be Presented at 2023 International Conference on Antiviral Research

GFGD: ZeroNox, a Leader in Off-Highway Electrification of Commercial and Industrial Vehicles, to Become First Public Company of its Kind, Through Merger with The Growth for Good Acquisition Corporation

ALGM: Allegro MicroSystems Announces Industry’s First ASIL C Safety Rated Field Current Sensor for Electric Vehicle Powertrain Systems

TSLA US investigates 120,000 Tesla Model Y Vehicles for steering wheels that can fall off: AP

ATHE Alterity Therapeutics Enrolls First Patient in Italy in ATH434 Phase 2 Clinical Trial in Multiple System Atrophy

MNTS Momentus (NASDAQ: MNTS) Vigoride-6 Spacecraft Arrives at SpaceX Launch Site

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