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Microsoft Corp – Shares of speech technology and AI firm Nuance Communications are sharply higher in the premarket after Reuters reported Sunday that Microsoft is in advanced talks to buy NUAN for about $16 bln, the reported suggested the deal could value NUAN at ~$56 per share and an agreement could be announced as soon as Monday. Companies already partner in healthcare, and a deal will help Microsoft “further integrate Nuance’s advanced speech technology throughout its consumer and enterprise ecosystem. NUAN
Alibaba Corp – Shares are set to open at a new all time high this morning 2 days after being hit with a record $2.78 billion antitrust fine imposed by Chinese regulators. BABA said “the fine would not have a major negative impact on its business.” Regulators slammed the tech giant with the penalty on Saturday after a months long probe concluded it had been abusing its dominant market position.
Uber Technologies – Trading higher in the premarket after the company said March total company bookings reached their highest monthly level in the company’s nearly 12-year history. March Mobility business posted its best month since March 2020 crossing $30b annualized gross bookings.
Domino’s Pizza Inc – Morgan Stanley upgrades the stock with a $420 PT after DPZ said it has teamed up with Nuro Ltd., a autonomous and AI company to start autonomous pizza delivery with an on-road robot. Deliveries will begin in Houston.
Aphria Inc – Down sharply premarket after announcing a loss in its latest quarter vs. a year ago profit. The cannabis company reported an adjusted loss of $.15/share in its latest quarter on revenue of $166.2m. Net revenue for the three month period was $153.6m up 6.4% as the company pointed to lockdowns major Canadian Provinces for the decline.
Tesla Inc – Up more than 1% this morning after Cannacord Genuity upgraded the stock to a “Buy” from a “Hold” and placed a $1071PT on the stock up from $419. Analysts are suggesting TSLA is on it’s way to becoming “the brand” in energy storage. Also, saying new battery innovations in manufacturing, cell design, and auto structural integration will reduce $/kWh by 30%, further widening the gap, and its lead over traditional OEMs.
Boeing Inc – Lower in the premarket for the second straight session following news late Thursday and before the open Friday suggesting further possible electrical issues with its MAX 737 planes. Reports this morning are also suggesting a proxy firm is recommending a vote against two longtime directors, Boeing’s board is also expected to consider extending the tenure of its CEO, who hits mandatory retirement age in 2022.
Beyond Meat – Up this morning after announcing a major retail expansion throughout Europe to kick off this spring. Beyond Meat products are available at approximately 122,000 retail and foodservice outlets in over 80 countries worldwide. The expansion will include further stores in the UK, Germany, Austria, Switzerland and The Netherlands.
Regeneron Pharmaceuticals – Trading higher this morning after data from a recent trial showed that REGN’s antibody cocktail, REGEN-COV, helped reduce the risk of symptomatic infections in other members of households where a person is ill. The company will seek U.S. FDA approval for the therapy as a preventative treatment.
Pintec Technology – Shares of the Chinese computer programming services provider are sharply higher in the premarket after the company announced plans to acquire Shenzhen Jishengtai Technology Co Ltd (JST) in an all-stock deal, a securities technology firm based in Shenzhen, China. JST designs and implements an end-to-end broker supplied system (BSS) for automatic order matching and execution of securities trading.
Auris Medical – Looking to extend a three session rally trading higher in the premarket, on Thursday the company issued a vague press release saying that it will provide a business update on its AM-301 program for protection against airborne viruses and allergens on Tuesday, April 13, 2021. After the announcement, Auris Medical’s management team will host a live conference call and webcast at 8:00 am Eastern Time (2:00 pm Central European Time).
Briacell Therapeutics – Positive data from a recent study showing improved survival rates in breast cancer patients using its Bria-IMT treatment.