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Chinese ADRs – Higher as group for the third straight morning on continued reopening positivity coming up of China, the group faded early gaps and relative strength yesterday. Multiple positive analysts notes on the tech focused names as regulators look to boost support for the sector. BABA, JD, BIDU, PDD, BILI, DIDI

NIO.NY 1.91%
NIO Inc – Higher along with Chinese strength, the Chinese EV maker also said it will start making high-voltage battery packs in 2024 as it looks to improve profitability and competitiveness to take on rivals like Tesla. Producing on an 800-volt battery pack will begin in the second half of 2024, on Thursday, Nio forecast weak annual revenue and slowing deliveries in Q2, reflecting a general drop in production by major automakers as a result of a two-months long COVID-19 lockdown in Shanghai.

DOCU.NQ -24.45%
DocuSign Inc – Multiple negative analysts moves on the stock after the e-signature company posted Q1 adj. EPS of 38 cents vs est. of 46 cents. The Pandemic darling also cut its billings forecast for fiscal 2023 to between $2.52 bln and $2.54 bln from previous outlook of $2.71 bln to $2.73 bln.

AMD.NQ 0.94%
Advanced Micro Devices – Multiple upgrades and PT increases today after yesterday’s special analysts day event. The company detailed its strategy to drive its next phase of growth across what it predicts to be a $300 billion market for High-Performance and Adaptive Computing Solutions. The company made multiple new product announcements including an expanded multi-generational CPU core, graphics, and adaptive computing architecture roadmaps including new details on the Zen 4 and 5 product lines.

TSLA.NQ 0.14%
Tesla Inc – Little changed premarket after the company announced it would cancelled three online recruitment events for China scheduled this month, the latest development after Chief Executive Elon Musk threatened job cuts at the electric car maker, saying it was “overstaffed” in some areas. The company cancelled the three events for positions in sales, R&D and its supply chain originally scheduled for June 16, 23 and 30, notifications on messaging app WeChat showed late on Thursday, without stating a reason.

AMZN.NQ 0.11% – Minor note, said it will not bid for rights to telecast India’s premier league cricket, projected to be worth more than 500 billion rupees ($6.4 billion), a source with knowledge of the company’s plans said on Friday. The decision comes just two days ahead of the bidding for the television and digital broadcast rights of the hugely popular Indian Premier League, a two-month tournament that usually takes place every April and May. Separately, both AMZN and NFLX are said to be in the running for North American broadcast rights for Formula 1.

SFIX.NQ -15.04%
Stitch Fix – Shares in the online personalized styling service firm are lower after at least 5 brokerages cut PTs on stock after the company posted Q4 net revenue below Street’s estimates yesterday. SFIX said it is reducing its workforce by around 15% of salaried positions as continues to struggle with onboarding new clients. Stitch Fix expects to save $40 million to $60 million in costs in fiscal 2023 from the job cuts and other changes, while incurring charges of around $15 million to $20 million in the fourth quarter. Stitch Fix also forecast net revenue between $485 million and $495 million for the fourth quarter, compared with estimates of $495.1 million, according to Refinitiv data.

NFLX.NQ -4.68%
Netflix Inc – Down sharply on a GS downgrade to “sell” and PT cut, GS says it sees solidly lower revenue growth in out-years for NFLX reflecting broader industry maturation.

PALT.NQ 30.59%
PalTalk – Micro cap ($19m) mobile communications firm up after announcing the acquisition of Visicom’s Manycam assets.

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