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SoFi Technologies – Shares of SoFi Technologies Inc. surged in after-hours trading Tuesday after the financial-technology company said that it won regulatory approval to become a bank-holding company. The company announced late Tuesday that it won approval from the Office of the Comptroller of the Currency and the Federal Reserve for its plans to become a national bank by acquiring Golden Pacific Bancorp Inc
Bank Of America – Reported a jump in fourth-quarter profit on Wednesday, benefiting from loan growth and a frenetic pace of global deal making activity that helped drive its investment banking business. Net interest income (NII), a metric that measures the difference between the interest earned on loans and paid out on deposits, rose nearly 11% to $11.41 billion. The bank reported revenue, net of interest expense, of $22.1 billion, up 10% from last year. Profit rose to $6.77 billion, or 82 cents per share, from $5.21 billion, or 59 cents per share, a year earlier. Analysts on average had expected a profit of 76 cents per share.
Lucid Group Inc – Set to open higher this morning ahead of a large IPO lockup expiration at the open. According to a filing with the Securities and Exchange Commission (SEC), current or legacy, Lucid owners control 1.19 billion shares of LCID stock. The lockup period for current Lucid shareholders will end today; this is noteworthy since existing shareholders account for the vast majority of Lucid’s ownership; there are 1.6 billion shares of LCID stock outstanding at the time of writing. The Saudi Public Investment Fund (PIF) is the largest shareholder of Lucid stock with a 67.2% stake. However, the fund has a long-term investment horizon, so investors are not anticipating a significant sale.
Morgan Stanley – Reported higher fourth-quarter profit, as the Wall Street investment bank capitalized on a boom in mergers and acquisitions and generated robust fees from advising on deals. Profit rose to $3.59 billion, or $2.01 per share, in the quarter ended Dec. 31, from $3.27 billion, or $1.81 per share, a year earlier. Analysts on average were expecting the bank to report a profit of $1.91 per share.
Tesla Inc – Piper Sandler out with an increase on the company’s Q4 results this morning ahead of earnings Jan 26th. Analysts now expected 1.5m deliveries in 2022. The brokerage adds that if successful, in-house manufacturing of battery cells could unlock a fearsome increase in production capacity, says that peers are likely watching with a mix of dread and wonder.
Digital World Acquisition Corp – Back on watch trading higher for the third straight session coming off an impressive rally Tuesday. The stock had its highest traded volume since December 8th yesterday rallying more than 16%
Splash Beverage Group – Continues its recent rally following news last week its “TapouT” energy drink would be sold in 47 Walmart stores in Florida.
Fresh Vine Wine – Low float micro cap runner continues its recent rally on increased social media attention.
Bakkt Holdings – Partners with regulated digital assets institution Nexo to custody cryptocurrency assets in BKKT’s warehouse which allows for safe and secure storage of bitcoin BTC=BTSP and ethereum ETH=BTSP. BKKT, a retail-trader favorite, is trending #4 on investor-focused social media site stocktwits.com; message volumes have risen after news.