Morning Movers
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LCID.NQ -12.35%
Lucid Group Inc – Trading lower after cutting its 2022 production target to between 12,000 and 14,000 units from 20,000 units. LCID the revised production forecast is due to “extraordinary supply chain and logistics challenges” the company also reported a Q4 net loss of $1.05 bln, compared to a loss of $297.5 mln a year ago. Deliveries of 125 cars to customers last year, fell short of its 2021 production target of 577 vehicles.

TGT.NY 10.71%
Target – Beat estimates with profits of $3.19 per share, 52 cents higher than the same quarter last year when the company reported EPS of $2.67. Profits of $2.86 per share were anticipated by the twenty six analysts providing estimates for the quarter. Wall Street expected results to range from $2.52 to $3.06 per share, with a forecasted mean of $2.86 per share. The company reported revenue of $31.00 billion, which is lower than the estimated $31.39 billion.

Oil Stocks – Crude back to fresh 7 year highs in early trading as concerns over supply disruptions increase after failed talks between Russia and Ukraine outweighed discussions of a coordinated global crude stocks release. CVX announced it will increase its current share buyback program to between $5 billion and $10 billion this year, compared with its previous target of between $3 billion and $5 billion. Multiple positive analysts moves on the group this morning. CVX, OXY, XOM, DVN, MRO

Banks – Remain under pressure as a group after tougher sanctions by Western countries on Russia following its invasion of Ukraine. On Saturday, Western nations unveiled harsh sanctions including blocking some banks from the SWIFT international payments system. The new sanctions could hurt the lucrative Russian investment banking business that several U.S. banks have maintained, Reuters reported on Sunday, citing lawyers. C, JPM, WFC, BAC, GS

SOFI.NQ 2.27%
SoFi Technologies – On watch trading higher ahead of earnings after market tonight, impressive rally Monday in a weak market.

ZM.NQ -2.83%
Zoom Video Communications – Forecast full-year revenue and profit below Wall Street estimates on Monday, signaling a hit from tough competition and lower sign ups for its core Meetings platform. Still, beat estimates for fourth-quarter sales and profit, as revenue from enterprise customers grew by 38%. Excluding items, the company earned $1.29 per share, beating estimates of $1.06 per share.

COIN.NQ 3.00%
Coinbase Global – BTC up 13% in 24 hrs on more fierce debate whether Bitcoin (BTC-USD) and related currencies could be used to evade Western sanctions for Russia, as well as crypto’s correlation to risk assets. COIN has rallied more than $30 in 4 sessions and is trading up 3% premarket.

CTIC.NQ 55.79%
CTI Biopharma – The U.S. Food and Drug Administration has approved its drug for treating adult patients with a type of bone marrow cancer who also have low blood platelet count. The approval triggered a $60 mln payment from DRI Healthcare Trust for a tiered royalty on the treatment.

MULN.NQ 5.92%
Mullen Automotive – Back on watch higher on impressive premarket volume for the second straight session. The company announced a positive update on it’s next-generation solid-state polymer battery technology Monday, which is a significant advancement over today’s current lithium-Ion batteries.

AREB.NQ 24.81%
American Rebal Holdings – Micro cap aerospace & defence company up on little to no news, $6m market cap, 4m free float.

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