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Chinese Stocks – Back on watch after yesterday’s monster rally that followed news Beijing was planning more stimulus and also vowed to keep markets stable. China’s securities regulator said it would continue to communicate with U.S. regulators and strive to reach an agreement on China-U.S. audit supervision cooperation as soon as possible. BABA, BIDU, JD, NIO, LI, XPEV, GOTU, PDD, DIDI
Tesla Inc – Reportedly delayed a bond offering worth more than $1 billion as volatility causes companies to pull back from markets. Elon Musk’s company was due to issue bonds backed by leases on its cars but has shelved the plans for now, Bloomberg reported. Separately, the company announced it will roll out a $2000 price hike on China-made Model Y cars.
William-Sonoma – Trading higher on light volume after beating estimates with its latest results and also announced its board approved the company to buy back $1.5 billion of stock. The company reported fourth-quarter adjusted earnings of $5.42 a share, beating Wall Street forecasts of $4.82. Revenue of $2.5 billion rose from a year earlier but came in below estimates of $2.58 billion. Williams-Sonoma said it was increasing its quarterly dividend by 10% to 78 cents a share. The new buyback plan of $1.5 billion supersedes the roughly $750 million that remains under its current repurchase authorization.
Chip Stocks – Lower as group after yesterday’s impressive rally, multiple positive analysts moves in the group this week including Wells Fargo adding NVDA shares to their “Signature Picks” list. AMD, NVDA, INTC, QCOM, MU, AMAT
Oil Stocks – Back on watch with crude rallying back above $100 barrel in early trading, there was further warning of supply shortfall from the IEA who said markets could lose three million barrels a day (bpd) of Russian crude and refined products from next month. Berkshire Hathaway (BRK.B) bought another 18.1 million shares of Occidental, according to an SEC filing. That brings Berkshire’s holdings in the energy producer to 136.4 million shares. XOM, OXY, CVX, MRO, DVN, IMPP, INDO, ENSV, HUSA, EFOI
Mullen Automotive – Active again premarket after being featured in a Yahoo Finance Live segment that identified Mullen’s progress on solid-state battery technology, positive coverage on CarBuzz, strong performance in a recent EV market study, and significant domestic presence as being the top reasons contributing to the uptick in the Company’s stock performance.
Hycroft Mining – Active again in early trading following Tuesday’s AMC investment news.