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Delta Airlines – The airlines group trading higher this morning after Delta reported better than expected quarterly results, DAL posts Q4 adj. EPS of 22 cents ahead of estimates of 14 cents, however the company flagged significant headwinds from Omicron variant of COVID-19. DAL posts Q4 revenue of $9.47 mln vs estimates of $9.21 mln. The company said it benefited from strong holiday travel demand in the qtr, expects the recovery of flights to resume around the Presidents Day holiday in February.
Boeing Co – A Bloomberg report this morning is suggesting the company’s troubled 737 Max jets could get the green light to resume flight operations in China as soon as this month. No specific date was given with the report citing “sources” close the operation.
Taiwan Semiconductor – Chipmakers are higher premarket after the company posted a new record net profit in the fourth quarter of 2021, up more than 6 percent from the previous quarter as its gross margin continued to improve. TSMC, the world’s largest contract chipmaker, said it earned a fourth-quarter net profit of NT$166.23 billion (US$6.0 billion), up 6.4 percent from the third quarter and up 16.4 percent from the same period one year earlier. The chipmaker’s EPS of $1.15/share beats by $0.04, revenue of $15.74B however missed by $30M.
TPG Partners – PE firm set to make its debut on the Nasdaq today after raising $1 billion in its U.S. initial public offering (IPO) at a valuation of $9.1 billion. TPG said on Wednesday it priced its IPO at $29.50 per share. The buyout firm had said this week it planned to sell the shares at between $28 and $31 apiece. The Fort Worth, Texas-based firm has nearly $109 billion in assets under management, with investments in companies including Airbnb Inc, Spotify Technology, Burger King and McAfee Corp.
Snap Inc – Back to recent lows premarket after Cowen cuts stock to “market perform” from “outperform.” Cites concerns around lingering Apple iOS 14.5 changes impacting SNAP; “The 3Q21 print showed that SNAP’s direct response was not immune to negative impacts of iOS 14.5… we are concerned SNAP may have to continue to navigate through them in the coming quarters based on our recent ad buyer survey.” The brokerage adds SNAP also faces tough 1H22 revenue growth comparables and says co’s valuation remains elevated.
Nio Inc – Looking to extend a 3 session winning streak, 86Research with an upgrade on the stock this morning to “Buy” from “Hold” with a $52 PT.
Virgin Galactic – Shares are sharply lower after the company announced a proposed convertible senior notes offering of up to $425m.
Adagio Therapeutics – Shares are higher after data shows its COVID-19 drug produced antibodies to neutralize Omicron.
BTCS Inc – Active again premarket, on January 5 said its dividend would be payable in Bitcoin.