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FOCUS LIST🔎
LUCY – Up over 25% in the pre-market after eyewear collection release includes access to ChatGPT
GPS – Up over 23% in pre after reporting better than expected earnings and raised its full-year sales forecast
ZS – Up over 15% in pre after reporting better than expected earnings
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LUCY – Up over 25% in the pre-market after eyewear collection release includes access to ChatGPT
Innovative Eyewear, Inc. (LUCY) develops and sells smart eyeglasses and sunglasses.
On Wednesday the company announced the release of its Eddie Bauer Smart Eyewear collection.
The collection includes four styles and features voice access to ChatGPT. The USB-chargeable glasses have built-in Bluetooth microphones and speakers for music and calls. The line also marks the debut of the first rimless smart eyewear design, according to the company.
The collection will be soon available across department stores, sports retailers, physical locations and local optical stores.
After a strong day Wednesday on increased volume and a pullback Thursday on decreased volume, LUCY traded up over 25% in the pre-market this morning.
The $1.07 area acted as resistance in the pre-market and will be an important level to watch.
Above it, targets to the upside are $1.14 and then Wednesday’s high at $1.36. Beyond that, $1.60, $1.80 and $2 come into play.
Below $1.07, targets to the downside are $0.90 and then a gap fill at $0.79 with $0.70 below that.
GPS – Up over 23% in pre after reporting better than expected earnings and raised its full-year sales forecast
The Gap Inc. (GPS) operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands.
In the after-hours yesterday, the company reported Q1 2024 financial results.
Financial Highlights include:
Revenue is up 3.4% year on year to $3.39 billion.
GAAP profit of $0.41 per share, improved from a loss of $0.05 per share in the same quarter last year.
Free Cash Flow was -$63 million compared to -$102 million in the same quarter last year
Same-Store Sales rose 3% year on year (-3% in the same quarter last year)
“Gap currently seems operationally and structurally stronger than it has in many years with Gap brand showing signs of a turnaround for the first time in 10 plus years, Old Navy driving solid results and Athleta turning around faster than anticipated,” Citi Research analyst Paul Lejuez said.”
“Just one quarter into the fiscal year, the company raised its annual outlook, a solid sign that green shoots at the brands are taking root,” Telsey Advisory Group analyst Dana Telsey said.”
The stock traded up over 23% in the pre-market in reaction to the news.
$27.30 acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $28 and then the pre-market high at $28.33. Beyond that, targets to the upside are 52 week highs at $28.59, then $29 and $30.
Below $27.30, targets to the downside are $27, $26 then $24 and $22.52.
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ZS – Up over 15% in pre after reporting better than expected earnings
Zscaler, Inc. (ZS) operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations.
In the after hours yesterday, the company reported Q3 for the period ending March.
The first target for bulls is the pre-market high at $184.50.
Beyond that, targets to the upside are $185.72, $188.62 and then $190 and $194.
Below $184.50, targets to the downside are $181.20, $180, $178 and then $176.
MARKET NEWS 📰
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