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Big Tech – After another difficult week for the Nasdaq last week, tech stocks will look to bounce this morning after the initial, post jobs number rally we saw Friday get faded right from the moment markets opened to end the week. Facebook shares are down more than 1% to start the week this morning after a CitiGroup down grade to “Neutral” from “Buy” with a $320 PT. Apple shares are also actively traded in the premarket after ending the week Friday up 0.50%. AAPL, FB, NFLX, AMZN, GOOGL
BioNTech SE – Pfizer’s covid-19 vaccine partner reported better than expected earnings this morning sending its shares up more than 10% in early trading. The company posted better than expected top and bottom line results benefitting from increased demand for its covid-19 vaccine. BioNTech also said it plans to set up a regional centre along with a new manufacturing facility in Singapore for its vaccines, boosting its presence in Asia as a debate over patents rages and pressure grows on drugmakers to raise output of COVID-19 shots.
Crypto Stocks – On watch this morning as a group following a very volatile weekend for the assets. We saw Dogecoin prices take a 30% tumble during Elon Musk’s Saturday night live appearence after he called it a “hustle”, BTC meanwhile remains on watch holding just below the $60000. Ethereum recorded its biggest one-day gain in two years on Monday, as the world’s second-largest currency smashed past $4,000 for the first time. Ethereum’s digital token rose 7% in the last 24 hours to trade around $4,165. SOS, BTBT, MARA, RIOT, MSTR, SI
Energy Stocks – The group on watch this morning following news out over the weekend that the US government had issued an emergency legislation on Sunday after the largest fuel pipeline in the US was hit by a ransomware cyber-attack. The Colonial Pipeline carries 2.5 million barrels a day – 45% of the East Coast’s supply of diesel, gasoline and jet fuel. It was completely knocked offline by a cyber-criminal gang on Friday and work to restore service is continuing. The emergency status relaxes rules on fuel being transported by road. XOM, CVX, COP, DVN, MPC, OXY
Coinbase Global Inc – Trading higher in the premarket after another difficult week last week. The stock is down 30% from its IPO opening price, COIN is set to report earnings Thursday for the first time since going public in April.
FireEye Inc – Shares of the Cybersecurity firm are trading higher in the premarket after the company said it is among those dealing with a ransomware attack on a top U.S. fuel pipeline operator on Friday. Shares of other cyber security firms Palo Alto Networks and Crowdstrike Holdings are up 0.8% and ~1% respectively. PANW, CRWD, FEYE
Draftkings Inc – Multiple analysts moves on the stock this morning following Friday’s earnings from DKNG. Morgan Stanley and Guggenheim both upgraded the stock and increased PTs while JP Morgan, Needham and Truist analysts all downgraded DKNG and lowered their PT. The stock is trading lower on volume in the premarket looking to extend the slide we saw on Friday following its premarket report.
Ford Motor Co – Issued a safety recall affecting 620000+ vehicles this morning. The company said the recall is for 2016-19 Ford Explorers sold in the US, Canada and Mexico, the company said roof rail covers may become detached and it is not aware of any injuries from the issue.
Inovio Pharmaceuticals Inc – Trading higher in the premarket ahead of its latest quarterly earnings due out after market Monday. The stock was among those caught in last week’s vaccine related volatility brought on by a WTO proposal that would see intelectual property rights be termporarily removed from covid-19 vaccines.
Conformis Inc – Smallcap, medical equipment maker trading higher in the premarket after its Identity Imprint, knee replacement system received FDA clearance.
Alfi Inc – The recent addition to the Nasdaq in the IT service space is trading higher on volume for the second straight session with little news catalyst.