Morning Movers
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AFRM.NQ 26.90%
Affirm Holdings – Shares of buy now, pay later firm are sharply higher premarket after announcing an expanded deal with Amazon Inc. The new arrangement will see all eligible purchases of $50 and more on Amazon available to be split into monthly payments for U.S. shoppers; feature was earlier available only to select customers. The company also also reported Q1 rev of $269.4 mln, beating est. of $248.2 mln. Overall AFRM reported a loss of $306.6 million in its fiscal first quarter or ($1.13) per share.

RIVN.NQ 6.25%
Rivian Automotive – Set for a positive open after surging as much as 53% in its Nasdaq debut, in world’s biggest IPO of 2021, the stock closed nearly 30% above the company’s $78/share offering price. The industry positivity has peers Nikola Corporation, Lordstown Motors Corp, and Fisker Inc, up between 2.7% and 13.7% premarket.

SOFI.NQ 15.72%
Sofi Technologies – The online lending company’s shares are set for their best day in over 9 months after it reported a smaller-than-expected Q3 loss of 5 cents/share vs. est 14 cents/share. SOFI said revenue rose 35% from previous year to $272 mln, beating analysts’ expectations of $251.6 mln. SOFI also raised its FY revenue outlook to a range of $1 bln to $1.01 bln vs. est $982.5 mln. Five of six brokerages rate the stock “buy” or higher and one “hold”; their median PT is $27, per Refinitiv data.

DIS.NY -5.53%
Walt Disney Co – Reported Q4 revenue of $18.53 bln vs analyst estimates of $18.79 bln – Refinitiv data; DIS also missed profit expectations. Disney+ picked up 2.1 mln customers vs Factset estimate of 10.2 mln, the smallest rise since the streaming video service was launched. The company said parks continued their recovery, with strong attendance and per caps domestically although profitability in the quarter fell short of our estimate, says JP Morgan, cuts PT to $220 from $230.

BYND.NQ -19.09%
Beyond Meat Inc – Forecast fourth-quarter revenue below estimates on Wednesday, as the once red-hot plant-based meat maker reported slowing demand in both grocery stores and restaurants. Sales of its faux meat fell at fast-food locations when the Delta COVID-19 variant hit and labor shortages caused restaurants to cut hours and trim menus. Sales to U.S. retail stores fell 15.6% to $52.4 million in the third quarter, Beyond said, while those to U.S. restaurants fell 7.3% to $15.1 million. Net revenue rose 12.7% to $106.4 million but missed estimates of $109.2 million. Excluding certain items, the company reported a loss of 87 cents per share, compared with analysts’ estimates of a loss of 39 cents per share.

TSLA.NQ 2.30%
Tesla Inc – Higher premarket as financial filings out after the close Wednesday disclosed CEO Elon Musk did in fact sell roughly $5b in Tesla stock in trades carried out on Tuesday and Wednesday. Musk sold more than 3.5M shares and still holds 166M in the EV maker.

OPEN.NQ 18.08%
Opendoor Technologies – Trading higher after posting a smaller than expected Q3 loss per share of 9 cents versus estimates of 17 cents/share. Many analysts quick to suggest Zillow’s exit from the space will open the door for rivals such as OPEN to grab more market share. Rival Offerpad OPAD, also posts smaller-than-expected loss of 13 cents/share versus estimates of a $1.03/share loss.

CGEN.NQ 13.38%
Compugen Ltd – Announced collaboration expansion with Bristol Myers Squibb alongside $20 Mln equity investment.

RWLK.NQ 16.11%
Rewalk Robotics – Reports revenue of $2 million in Q3, highest qtrly revenue in 4 years, rev grows 164% due to higher sales of its wearable robotic suit for people with spinal injury, ReWalk Personal 6.0, in Germany and a multiple unit order to a U.S physical therapy university.

RIDE.NQ 15.47%
Lordstown Motors Corp – Foxconn finalizes $50 Million stock deal with Lordstown Motors. The $230M agreement will see Foxconn help produce the Endurance electric pickup.

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