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Affirm Holdings – Extending recent momentum off the back of its recent buy-now pay-later partnership announcement with Amazon.com Inc. shares are higher after the company easily topped revenue and volume expectations for the most recent quarter reporting a smaller fiscal fourth-quarter net loss of $128.2 million, or 48 cents a share, whereas it posted net income of $35.4 million, or 17 cents a share, in the year-earlier quarter. Affirm’s loss includes a $105.2 million increase in stock-based compensation following the company’s January initial public offering. AFRM also increased its FY revenue forecast.
Chinese Stocks – Back on watch this morning as Chinese Regulators meet with platform firms BABA and DIDI. One note from the meetings appears to be an effort from Chinese government ministries to pressure companies to improve their use of algorithms as well as how they distributed incomes and ensured rest periods for their workers, according to a statement posted by the Ministry of Human Resources and Social Security. BABA, DIDI, JD, PDD, BIDU
Squeeze Stocks – SPRT, BBIG and CLOV are all under pressure premarket extending weakness we saw late in the day yesterday. Support.com investors will vote on the company’s propposed merger with blockchain tech firm Greenidge Generation Holdings today, the deal requires the approval of more than 50% of SPRT stock owners. SPRT, BBIG, CLOV, ATER
Tesla Inc – Trading higher premarket after a muted session Thursday, the stock was volatile mid-afternoon after an internal email was leaked showing Tesla Chief Executive Elon Musk asking employees to “go super hardcore” to make up for production challenges early in the third quarter and “ensure a decent Q3 delivery number,” according to his internal email seen by Reuters. “This is the biggest wave in Tesla history, but we got to get it done,” he said in the email sent Wednesday, referring to its end of quarter delivery push.
Dave & Buster’s Entertainment – Trading higher as the entertainment-venue chain beat expectations in the latest quarter and said that its recovery trends are continuing. The company, known for its food and arcade games, said that its comparable-store sales, which measures benchmark sales at stores open at least 18 months, increased 3.6% in the second quarter, compared with the same period in 2019. EPS were $1.07, $2.31 higher than the same quarter last year while revenue of $377.64 million also beat estimates.
Zscaler Inc – The cloud based security platorm company’s shares are trading higher early on after both results and forecast beat expectations. The company reported profits of 14 cents per share, 9 cents higher than the same quarter last year and beating estimates of 9 cents per share. Revenue of $197.07 million also topped estimated $186.82 million.
Iveric Bio Inc – Trading sharply higher as rival drug developer APLS shares tumble after announcing results from two late-stage trials testing pegcetacoplan in geographic atrophy, a main cause of blindness; one met main goals while another narrowly missed targets. APLS
T2 Biosystems – Thursday after market said its COVID-19 diagnostic test can detect the Mu (B.1.621) and Iota (B.1.526) variants of the SARS-CoV-2 virus.
Endo International – Thursday after market said it agreed to pay $50 mln to resolve lawsuits by New York state and its Suffolk and Nassau counties related to the sale and marketing of opioids.