Watch us on YouTube Live at 8:30AM EST
Rivian Automotive – Sharply higher for the second straight session as investor Dan Loeb’s Third Point becomes the latest to disclose a position in the company, in a filing after the close yesterday the firm showed a 4m share stake in the company. The news follows a similar filing from billionaire George Soros after the close on Friday.
Tesla Inc – Trading higher after Elon Musk discloses a 21.2% passive stake in the car company as of Dec. 31 in SEC filing. Musk owns 231.7 mln shares which include 172.6 mln shares of common stock held by Elon Musk Revocable Trust and options to purchase 59.1 mln shares of common stock exercisable within 60 days of Dec. 31. Musk, who sold more than $16 bln worth of shares from November through December, said on Monday he made a donation of about 5 mln TSLA shares to a charity.
Chip Stocks – Remain on watch trading higher premarket as a group, INTC making headlines announcing a $5.4b all cash deal for specialty chip maker Tower Semiconductors. Intel is paying $53 per share for Tower TSEM.O – which specialises in analogue chips used in cars, medical sensors and power management . NVDA, AMD and MU are also among the most active. INTC, TSEM, NVDA, AMD, MU
BIG Tech – Back on watch also higher as a group benefitting from the lift in sentiment. In a filing the typically tech-averse Berkshire Hathaway bought 14.7 million Activision shares pre MSFT deal, now valued at about $1.19 billion. MSFT also announced it will fully reopen its offices by February 28. AAPL, FB shares also solidly higher in early trading.
Roblox Corp – Active premarket up more than 4% ahead of earnings after the close tonight. Multiple positive moves from analysts on the stock yesterday.
Virgin Galactic – Higher after announcing today that ticket sales will open to the general public starting on February 16, providing the opportunity to purchase one of the initial spaceflight reservations and secure membership in the unique community of Future Astronauts.
Travel Stocks – Higher as group on reopening positivity once again, cruise operators seeing the most volume premarket. CCL, RCL, NCLH, UAL, AAL, DAL, LUV
IPower Inc – Micro cap online services company trading higher after a surprise earnings beat after the close yesterday.