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Apple Inc – Higher premarket after yesterday’s rally that followed a successful “Unleashed” event that saw company unveil a refreshed its line of Apple MacBook Pro laptops with a changed design and new processors, but its latest launch wasn’t just a MacBook Pro show. It also debuted new 3rd gen AirPods, new colours for the HomePod Mini and a cheaper way to get your Apple Music fix.
Johnson & Johnson -Raised its annual adjusted profit forecast, but kept the sales outlook for its COVID-19 vaccine at $2.5 billion for this year. Third-quarter profit beat expectations and the company lifted its 2021 forecast for adjusted earnings per share to between $9.77 and $9.82, from its prior estimates of $9.60 to $9.70. Meanwhile, a decision by the U.S. Food and Drug Administration on booster doses of the vaccine is pending. Sales of its cancer and immune disease drugs helped the healthcare conglomerate report a 13.8% rise in sales to roughly $13 billion. J&J earned $2.60 per share, beating expectations of $2.35 per share. However, its sales of $2.33 billion missed estimates of $2.37 billion.
Macy’s Inc – On watch after an impressive rally Monday, the move followed a media report that the e-commerce business of luxury retailer Saks Fifth Avenue is aiming to go public soon. An initial public offering would be the second phase of a deal struck earlier this year that separated the e-commerce business from Saks’ bricks-and-mortar retail operations, which also prompted an activist investor to call for Macy’s to do the same last week.
Energy Stocks – Trading higher premarket as a group with oil prices back to near fresh 7 year highs. GS raised its PT on Exxon Mobil’s stock from $68 to $70. XOM, CVX, BP, COP, MRO, DVN
Walmart Inc – Trading solidly higher premarket after Goldman Sachs adds the stock to its conviction buy list ahead of earnings. The positive note points to major investments made by WMT over the past few years starting to pay off with strong results, saying “After several years of investment (largely in ecommerce and its supply chain) weighing on profitability, we think WMT is now in a position to grow EBIT dollars along with continued investments due to the greater scale of its ecommerce business today, improving mix, and growth from higher margin ancillary businesses like advertising.” Importantly, it is noted that Walmart (WMT) has already secured its transportation capacity needed for Q4.
Procter & Gamble – Reported quarterly adjusted earnings of $1.61 per share for the quarter ended in September. The mean expectation of eighteen analysts for the quarter was for earnings of $1.59 per share. Revenue rose 5.3% to $20.34 billion from a year ago; analysts expected $19.91 billion. Procter & Gamble Co’s reported EPS for the quarter was $1.61. The company also warned of higher prices for “staples” to come.
SoFi Technologies – Back on watch after an impressive move Monday. The company announced a new partnership with Pagaya Technologies, a financial technology company. Under the partnership, SoFi will be able to expand financial products offered to its members, adding Pagaya’s proprietary artificial intelligence, technology and infrastructure. There have also been multiple upgrades on the stock over the past week worth of trading days.
Alibaba Group Holdings – Extending its recent rally premarket, announced late yesterday it has developed a custom computer chip that the China-based tech giant will use to power its data center servers. The chip will not be available for use outside of Alibaba.
Energous Corp – The developer of WattUp®, a revolutionary wireless charging 2.0 technology, today announced that its 900MHz 1W Active Energy Harvesting transmitter technology has received U.S. Federal Communications Commission (FCC) Part 15 grant of equipment authorization for wireless power transfer at any distance. This approval complements a similar unlimited distance wireless charging approval in Europe, announced in May, 2021, expanding the ecosystem reach.
Kaival Brands Innovations – Microcap food retailer up on little to no news, 11m share free float. A recent positive Argus Research note on the company is being circulated on social with a $22 PT on it.
Inflarx NV – InflaRx Awarded up to EUR 43.7 Million (~USD 50.7 Million) Grant by German Government to Advance the Development of Vilobelimab for Treatment of Severe COVID-19.