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EV Stocks – Higher as a group in early trading led by Chinese makers as we get November delivery numbers from the group today,Nio reports November deliveries of 10,878 vehicles, up 105.6% – Li Auto November deliveries rose 76% M/M to 13,485 units – Xpeng meanwhile tops the list again this month reporting deliveries of 15,613 vehicles in Nov, up 270% from a year ago. NIO, LI, XPEV
Merck & Co Inc – Higher after a panel of U.S. health advisers Tuesday narrowly backed a closely watched COVID-19 pill from Merck, setting the stage for a likely authorization of the first drug that Americans could take at home to treat the coronavirus. A Food and Drug Administration panel voted narrowly, 13-10 in favour that the drug’s benefits outweigh its risks, including potential birth defects if used during pregnancy.
Salesforce Inc – Sharply lower after the cloud based software maker forecast current-quarter profit below Wall Street estimates as it faces stiff competition from rivals including Microsoft Corp. The San Francisco, California-based company also picked insider Bret Taylor to co-lead the company alongside top boss Marc Benioff. The company also forecast first-quarter revenues to be between $7.22 billion and $7.25 billion, compared with estimates of $7.36 billion.Revenue rose 27% to $6.86 billion in the quarter ended Oct. 31, beating analysts’ estimate of $6.8 billion, according to IBES data from Refinitiv. Stripping one-time costs, the company reported earnings of $1.27 per share, also above estimates of 92 cents per share.
Travel Stocks – Back higher in early trading after resuming Friday’s selloff yesterday, as more data and news emerges on the new omicron variant of covid-19 initial reports continue to suggest the majority of cases are very mild with no severe cases reported to date. Most analysts are pointing to continued volatility in this sector until vaccine makers are able to determine efficacy levels against omicron. UAL, AAL, DAL, LUV, CCL, RCL, NCLH, WYNN, LVS, MAR
Moderna Inc – Lower for the second straight session premarket, on Tuesday Moderna CEO Stephane Bancel said that existing COVID-19 vaccines are likely to be less effective against the Omicron variant of the coronavirus. In an interview with the Financial Times Bancel said “There is no world, I think, where [the effectiveness] is the same level . . . we had with [the] Delta [variant]. I think it’s going to be a material drop. I just don’t know how much because we need to wait for the data. But all the scientists I’ve talked to are suggesting, ‘This is not going to be good.”
Apple Inc – Up nearly 2% premarket after being among the few tech stocks to record a gain in yesterday’s session. Reports are suggesting the company is planning to launch third-generation iPhone SE in first quarter of 2022.
Oceanpal Inc – The Diana Shipping spin off is set to more than double after a very volatile initial trading session yesterday. 9m shares outstanding.
VBI Vaccines Inc – Announced FDA approval of PreHevbrio for prevention of Hepatitis B.
Ardelyx Inc – Up sharply after announcing plans to launch bowel disease therapy.