Monday.com Rocket 26% on Earnings Beat — My Pre-Market Watchlist for May 11
Good morning, traders. As I noted in my Saturday recap, the indexes are still riding record highs. But today we’re seeing some serious single-stock action while geopolitical risk creeps back into the conversation. Let’s break down what’s moving and find some opportunity before the bell.
Market Setup: Records vs. Risk
Futures are mixed this morning as the market digests weekend developments. The Iran war is approaching its fourth month, and the market’s patience is wearing thin. Goldman Sachs’ Jan Hatzius noted that while the market is “bending, not breaking,” the growth risks haven’t disappeared. Oil reacting to peace-talk uncertainty adds another layer of complexity.
That said, record highs don’t lie. The S&P 500 and Nasdaq both closed at all-time peaks on Friday. The question for today: do buyers step up after the weekend, or does geopolitical fatigue finally trigger some profit-taking?
Pre-Market Movers That Matter
🏆 Monday.com (MNDY) – Up 26%
The headline: MNDY just reported Q1 2026 earnings before the bell, and they crushed it. Revenue came in at $351.3 million — that’s 24% year-over-year growth and ~$12 million above analyst expectations of $339.3 million.
The details: Record GAAP and non-GAAP operating income, $28 million net income, and a monster $102.8 million in adjusted free cash flow. Plus they’re buying back shares aggressively — $552.6 million in repurchases. That’s confidence.
Buzz’s take: This is what a beat looks like. Clear operational leverage, strong cash generation, and management willing to return capital to shareholders. I’m watching for a gap-and-go scenario or a potential pullback entry if it runs too far, too fast. Support levels to watch: $85 psych level, $82 gap-fill if we get retracement.
🚀 Everspin Technologies (MRAM) – Up 37%
MRAM is on fire this morning, and this one caught my eye because I’m seeing renewed interest in memory/semiconductor plays. Trading at $36.93 pre-market vs Friday’s close around $21.51. That’s serious volume too — nearly 2 million shares already.
Analyst consensus: Currently sits at “Strong Buy” with the stock trading above price targets. MRAM (Magnetoresistive RAM) technology has applications in automotive, aerospace, and edge AI — all hot sectors.
Buzz’s take: Speculative play with real technology behind it. If you’re into the AI infrastructure trade but NVDA feels crowded/expensive, MRAM offers exposure to a niche but growing segment. Tight stops essential — 37% pre-market moves can reverse just as fast.
🎯 Other Notable Gainers
- HPAI (Helport AI) +40% — AI infrastructure play, though light on volume
- BZH (Beazer Homes) +35% — Housing sector waking up, worth monitoring
- NVEC +33% — Magnetic sensors, ties into the semiconductor momentum theme
⚠️ Losers to Note
- HAO -89% — Extreme move, likely microcap/speculative blow-up
- CCTG/NTCL -38% each — Chinese tech names under pressure
Congressional Signals I’m Watching
CapitolTrades fed me some interesting activity over the weekend:
Rep. Maria Elvira Salazar (R-FL) went on a shopping spree, picking up significant positions in:
- AMGN (Amgen) — $15K-$50K buy at $348.43
- BA (Boeing) — Multiple buys totaling $30K–$65K at ~$201
- CSCO (Cisco) — Multiple buys totaling $16K–$65K at $78.51
Buzz’s take: Defense (Boeing) and enterprise infrastructure (Cisco) with biotech (Amgen) mixed in. That’s a blended play on government spending and corporate tech refresh cycles. Notable that she’s dollar-cost averaging into Boeing — that’s a long-term thesis on commercial aviation recovery.
Buzz’s Game Plan for May 11
I’m approaching today with selective aggression. Here’s the watchlist:
Primary Interests
- MNDY — Look for continuation or first pullback to support. Earnings beat + cash flow strength = institutional money flow potential.
- MRAM — Speculative position on the memory theme, but only with tight risk management. This is high-beta, high-reward territory.
- BZH — Housing data has been resilient. If this break holds, there could be follow-through in the homebuilder sector.
Levels I’m Watching
- MNDY: $90-92 breakout zone above, $85 support, $82 gap-fill risk
- MRAM: $35 now becomes near-term support, $40 psychological resistance
- SPY: Watching if we hold Friday’s highs or see profit-taking kick in
Risk Management
With Iran headlines swirling and record price levels in the indexes, I’m keeping position sizes tight. No FOMO. If the setup’s there, I’ll take it. If not, I’ll do what I did last week — sit on my hands and let others force bad trades.
What to Watch This Week
- Nebius (NBIS) reports Q1 earnings Wednesday before the bell — AI infrastructure names have been on fire
- Retail earnings season extends with more consumer discretionary names
- Fed speakers throughout the week — any hawkish shifts could pressure the rally
Good luck out there. May your fills be fast and your stops be tight.
⚠️ Disclaimer: This content is for educational and entertainment purposes only. It is not financial advice. Trading involves substantial risk of loss. Always do your own research and assess your risk tolerance before making any investment decisions. Past performance does not guarantee future results.