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Johnson & Johnson – Shares are set to open sharply lower this morning after a NY Times report said the US announced it will pause use of the company’s covid-19 vaccine after multiple blooding clotting cases.
Nvidia Corp – Back on watch this morning after yesterday’s impressive rally, there are multiple analyst upgrades on the stock this morning after the company said midday yesterday its first quarter sales will come in above prior forecasts of $5.3b. Credit Suisse, Cowen, Mizuho and Rosenblatt Securities all upgraded the stock this morning.
Altimeter Growth Corp – In a record setting SPAC merger agreement will take Southeast Asia’s largest ride-hailing and food delivery firm public. Grab Holdings will come to market at a proforma equity value of $39.6 billion, cash proceeds are expected to be ~$4.5 bln and will include a private placement (PIPE) of ~$4 bln. The stock will trade on the Nasdaq under the symbol GRAB once the deal is complete.
Crypto Stocks – All-time highs in BTC this morning has this group higher to start, Bitcoin hit a record of $62,741 early Tuesday, extending its 2021 rally to new heights, a day ahead of the direct listing of Coinbase, the largest U.S. cryptocurrency exchange. Bitcoin bank Silvergate Capital Corp is up 5.6%, cryptocurrency miner Riot Blockchain is up 7.8% and Marathon Digital is trading 7.3% higher. China-focused Future Fintech Group is adding 3.1%, while even EV maker Tesla is seeing underlying strength adding 1.2%. SOS Ltd, a China-focused company mainly engaged in the consumer credit sector, is ahead 3% and shares of MicroStrategy Inc. SI, MARA, RIOT, FTFT, SOS, TSLA, MSTR
Cannabis Stocks – Lower off another disappointing earnings report this time from Organigram Holdings Inc. who reported quarterly net revenue that fell 37% to just $14.6m, the company’s overall net loss totalled $66.4m. Aphria Inc meanwhile is also lower for the second straight session after reporting a loss in its latest quarter yesterday, the stock tumbled 14% on the news a day ahead of a shareholder vote on its proposed merger with Tilray. OGI, APHA, CGC, TLRY
Travel Stocks – Lower following the JNJ announcement. American Airlines updates its Q1 financials this morning saying the company expects to report a net loss of approximately $1.2b-$1.3b for the period, the operator also said it expects its average daily cash burn rate for Q1 to be about $27m/day. UAL, AAL, DAL, LUV, SAVE, CCL, RCL, NCLH
Ford Motor Co – Announced plans to open showrooms for electric vehicles in 20 Chinese Cities, the company will also allow its customers to use NIO’s charging network in China.
Chewy Inc – Lower this morning on reports Morgan Stanley is shopping a “large block” of shares.
Novocure Ltd. – Mid-cap commercial-stage oncology company is trading higher on positive data from a recent phase 3 trial for a treatment of non-small cell lung cancer.
Dragon Victory International – Micro-cap Chinese based financial services company trading sharply higher on no significant news.
VTV Therapeutics Inc – Receives FDA Breakthrough Therapy status for a type 1 diabetes treatment.