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Oracle Corp – Higher after posting Q4 adj. EPS of $1.54 on rev of $11.84 bln vs. est. for EPS of $1.37 on revenue of $11.66 bln. ORCL said it now expects Q1 revenue to grow between 17-18% vs. est. of 14.1% revenue growth as the company’s infrastructure cloud revenue, which includes its data centers business was up 36% in Q4. The CEO said “Couple a high growth rate in our cloud infrastructure business with the newly acquired Cerner applications business -and Oracle finds itself in position to deliver stellar revenue growth over the next several quarters”.
Apple Inc – JPM with a positive note this morning saying the company’s video-streaming and fitness subscription services combined will garner revenue of more than $8 bln and a subscriber base of ~149 mln by 2025. Apple TV+ and Apple Fitness+, part of AAPL’s multiple service offerings, are likely to generate standalone revenue of ~$4.8 bln and $3.6 bln, respectively.
Crypto Stocks – Continue to slide along with BTC prices, Bitcoin briefly broke $21000 overnight and is trading this morning just above $22000. Shares of MSTR remain on watch as the company is said to be nearing a margin call around that $21000 level, in May MicroStrategy President Phong Le said in webcast the company would be forced to stake more tokens against a bitcoin-backed loans or trigger selling of some of its vast holdings if that price were to break. COIN, MARA, RIOT, BTBT, SI are also all down again premarket.
Chinese ADRs – Showing relative strength again premarket after yesterday’s sell off, positivity surrounding the group continues to lie with China reopening its economy in a post covid-19 world. BABA, JD, BIDU, PDD, NIO, XPEV
Walt Disney Co – Little changed this morning even as the company said its Shanghai Disneytown and Shanghai Disneyland Hotel said to reopen on June 16th; Shanghai Disneyland itself to remain closed so far.
Redbox Entertainment – Down sharply premarket after back to back sharp rallies, the retail favorite and highly shorted (%52) entertainment company remains among the most actively traded for a fifth straight session.
Kavel Brands Innovations – Former small cap runner sharply higher premarket after announcing a distribution deal with Philip Morris International for an International Electronic Nicotine Delivery System product distribution.
Mullen Automotive – Active premarket again ahead of the company’s inclusion into both the Russell 2000 and 3000 indexes coming up at the end of the month.