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Chinese EV Makers – Coming off an impressive rally Monday to start the week the group is out with Jan delivery numbers. NIO says it delivered 9,652 vehicles in Jan, up 33.6% y/y, XPEV delivered 12,922 cars in Jan, up 115%; topping the 10000 mark for the 4 straight month as cumulative deliveries top 150,000. LI Auto said it delivered 12,268 Li ONE cars in Jan, up 128% y/y; cumulative deliveries cross 136,356 cars. NIO, XPEV, LI
Tesla – Holding near yesterday’s highs premarket, the stock fell more than 11% in the month of January and rallied 10% yesterday. There was a minor recall announced 53,822 U.S. vehicles have been recalled with the company’s Full Self-Driving (Beta) software that may allow some models to conduct “rolling stops” and not come to a complete stop at some intersections posing a safety risk.
United Parcel Service – Trading higher after forecasting upbeat revenue, said it expects to hit margin targets early. Reported quarterly adjusted earnings of $3.59 per share for the quarter ended in December. The mean expectation of twenty six analysts for the quarter was for earnings of $3.10 per share. Revenue rose 11.5% to $27.77 billion from a year ago; analysts expected $27.06 billion. United Parcel Service Inc’s reported EPS for the quarter was $3.52.
Netflix – Higher for the fourth straight session premarket following its post-earnings sell off last week. Multiple upgrades and PT increases yesterday added to the Bill Ackman lead rally from Thursday and Friday last week.
AT&T – Trading sharply lower to start after announcing it will slash its dividend and also spin off its interest in WarnerMedia to its shareholders. The company said shareholders will receive an estimated 0.24 shares of Warner Bros. Discovery (WBD) common stock for each share of AT&T owned, AT&T approved an expected post-close annual dividend of $1.11 per AT&T share.
AMC Entertainment – Released preliminary results for the fourth quarter that topped prior estimates, the company said total revenues for the three months ended December 31, 2021 to be approximately $1,17b compared to $162.5 million for the three months ended December 31, 2020. Net loss for the three months ending December 31 expected to be between $194.8 million and $114.8 million, including an estimated non-cash impairment charge related to long lived assets of $50.0 million to $125.0 million, compared to a net loss of $946.1 million for the three months ended December 31, 2020, which included a non-cash impairment charge related to long lived assets, definite and indefinite lived intangible assets and goodwill of $466.1 million.
Exxon Mobil – Reported a fourth-quarter profit of $8.87 billion, the largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company said it generated $48 billion of cash flow from operating activities, the highest level since 2012, more than covering capital investments, debt reduction, and dividend. It also reduced structural costs by an additional $1.9 billion, increasing total savings to nearly $5 billion versus 2019. The company reported earnings of $23b in 2021 and also announced a $10b share repurchase program. Reported Q4 upstream earnings of $6.09 Bln.
Palantir Technologies – Satellogic announced a new strategic partnership with Palantir Technologies that will see the company leverage palantir’s foundry platform, accelerating business processes, rapid image product delivery, ai model training and more. Palantir’s government and commercial customers will have access to satellogic’s aleph platform apis.
Silvergate Capital – The crypto-focused bank said it bought Meta Platforms Inc-backed crypto venture Diem Association’s assets for $182 mln. WSJ on Thursday reported SI was buying Diem’s technology for about $200 mln. SI shares are down ~60% from their November peak, inline with a drawdown in cryptocurrencies.
Spir Global Inc – Small cap wireless tech company trading higher after Q4 results topped estimates.