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Apple Inc – Back on watch trading lower premarket following a Bloomberg report late yesterday suggesting the company is likely to slash production of its iPhone 13 by as many as 10 million units due to the global chip shortage. The company was expected to produce 90 million units of the new iPhone models by the end of this year, according to Bloomberg. Seperately, Apple is also said to be studying the potential use of Airpods as a health device.
JP Morgan Chase – Reported a bigger-than-expected 24% jump in third-quarter profit on Wednesday, boosted by a global dealmaking boom and strength in its wealth management arm. The bank said robust M&A activity offset a slowdown in trading. JPMorgan also released $2.1 billion from its credit reserves during the quarter. Net income rose to $11.7 billion, or $3.74 per share in the quarter compared with $9.4 billion, or $2.92 per share, a year earlier. Investment banking revenue surged 45% to $3 billion.
Koss Corp – Quickly shot to the top of most mentioned lists on popular, trading focused social media sites late yesterday, as retail investors circulated a transcript from a court ruling suggesting a US judge had ruled in favor of the one time meme stock in a patent dispute with Apple. The company has a 4.4m share free float and 14.5% short interest.
Delta Airlines – Said total passenger revenue was 63% recovered in the September quarter 2021 compared to September 2019 on system capacity that was 71% restored compared to 2019 levels. The company expects Q4 total revenue recovered to low 70s percentage vs. 4Q19; consensus shows growth of 118.73% Y/Y. Reported EPS of $.30/share on revenue of $9.15b beating on both.
Plug Power Inc – Sharply higher pre-market on news of a new strategic partnership with Airbus to study the feasibility of bringing green hydrogen to future aircraft and airports. Plug Power says it will build deployment scenarios for green hydrogen infrastructure at airports, while Airbus will provide insight on hydrogen aircraft characteristics.
Sphere 3d – Sphere 3D and Gryphon secure largest single hosting services deal in Core Scientific’s history. The agreement is for mining for about 230 mw of carbon neutral bitcoin mining hosting capacity, managed by Core Scientific as hosting partner.
Jasper Therapeutics – Higher in the pre-market trading after Oppenheimer initiated its coverage with an outperform recommendation highlighting the potential of the company’s conditioning agents for hematopoietic stem cell transplantation.
Progenity Inc – Announced several patents granted by USPTO, strengthening the company’s intellectual property position in Ingestible Therapeutics Technologies.