Morning Movers
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Coinbase Global Inc – Set to make its much anticipated debut on the Nasdaq today, the company will trade under the symbol “COIN”. The Nasdaq set a reference price of $250 for the direct listing aftermarket yesterday. It will be the first major direct listing to land on the Nasdaq with notable previous such as Roblox Corp., Spotify Technology SA, Slack Technologies Inc., Asana Inc. and Palantir Technologies Inc. all coming to the NYSE. On April 6th Coinbase reported Verified Users of 56 million, Monthly Transacting Users (MTUs) of 6.1 million, Assets on Platform of $223 billion, Trading Volume of $335 billion and total Revenue of approximately $1.8 billion, in its latest quarter!

JPM.NY -0.61%
JP Morgan Chase – Trading lower in the premarket this morning after reporting quarterly revenue of $32.3b or roughly $4.50/share well above estimates of $3.10/share. The largest U.S. bank said it released more reserves and was aided by a blowout quarter from its trading desks and soaring investment banking fees. JPMorgan, widely seen as a barometer of the health of the broader U.S. economy, was also helped by favorable comparisons to last year when the COVID-19 pandemic forced the bank to build reserves against the risk of a wave of loan defaults.

WFC.NY -0.75%
Wells Fargo & Co – Reported a strong rebound in first-quarter profit on Wednesday as the bank set aside less money to cover soured loans. The fourth-largest U.S. lender said profit rose to $4.74 billion, or $1.05 per share, in the three months ended March, from $653 million, or 1 penny per share, a year earlier. Analysts on average had expected a profit of 70 cents per share.

PLTR.NY -0.08%
Palantir Technologies – Coming off an impressive 9.7% advance in Tuesday’s session ahead of the company’s demo day event today, an event which the company said was oversubscribed will see it for the second time demonstrate its software online. Back on April 5 the company announced selection by the National Nuclear Security Administration (NNSA) for a deal worth up to $89.9 million for up to 5 years.

RBLX.NY -1.32%
Roblox Corp – Traded to new record high levels yesterday after the company announced a partnership with Hasbro (NASDAQ:HAS), which said it will create a line of toys and games based on the global video-game development platform. Hasbro will introduce a range of Roblox-inspired Nerf blasters “representing some of the most popular experiences on the Roblox platform.”

NKLA.NQ 4.73%
Nikola Corporation – Along with Italian truck group Iveco and energy services provider OGE have entered into a collaboration to accelerate deployment of hydrogen infrastructure and fueling solutions. NKLA will lead the installation of hydrogen fueling locations for all fuel-cell electric vehicles (FCEVs) at key locations supported by OGE’s hydrogen delivery systems.

Crypto Stocks – BTC back near all-time highs this morning benefitting this group for the second straight session, the two day rally comes ahead of the debut of crypto exchange Coinbase today. MARA, RIOT, SOS, MSTR, SI, TSLA, FTFT, BTBT are all up between 2%-4% in early trading.

DKNG.NQ 1.42%
Draftkings Inc – Following the Arizona Legislature’s passage of HB 2772, which would authorize fantasy sports and sports betting in the state pending action from Governor Doug Ducey, the PGA TOUR and DraftKings Inc. Announced that they will expand their existing commercial relationship to provide DraftKings market access for retail and mobile sports betting in Arizona, pending regulatory approvals. Will become the exclusive sports betting partner for the Waste Management, Phoenix Open.

BBBY.NQ -8.74%
Bed Bath & Beyond – Down sharply following earnings, reported EPS of $.08/share while revenue missed expectations. The company reported reported fiscal fourth-quarter net income of $9.1 million, after reporting a loss in the same period a year earlier. For the year, the company reported that its loss narrowed to $150.8 million, or $1.24 per share. Revenue was reported as $9.23 billion. The retailer reaffirmed its outlook for fiscal 2021 revenue, of between $8 billion and $8.2 billion.

GALT.NQ 25.17%
Galectin Therapeutics – Shares are up more than 20% premarket after the company said a paper published in a medical journal shows using Galectin’s lead drug candidate with Merck & Co’s cancer drug Keytruda significantly enhances tumor response to immunotherapy in patients with two types of cancers.

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