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Netflix Inc – Reported paid net additional subscribers in its latest quarter of 4.38m vs expectectations of 3.8m, forecast 8.5m net paid sub growth in Q4 which was inline with expectations. Said its subscriber base grew 9% from a year earlier, to 213.6 million, surpassing its own projections. Netflix earned $1.45 billion, or $3.19 per share, in the latest quarter. That’s up from $789.9 million or $1.79 per share, a year earlier. Revenue grew 16% to $7.48 billion from $6.44 billion.
Novavax Inc – According to a report in Politico, is facing production delays as the methods it used to test the purity of its COVID-19 vaccine have fallen short of U.S. regulators’ standards. NVAX, in a filing in Aug, said that U.S. govt has asked co to prioritize alignment with FDA on its analytic methods before manufacturing more doses. NVAX and partner Serum Institute of India have committed to together provide more than 1.1 bln doses to the COVAX facility. U.S. govt awarded $1.6 bln to Novavax in 2020 for its vaccine candidate.
United Airlines – Reported a smaller quarterly loss than a year ago, but a resurgence in coronavirus cases slowed bookings and drove up cancellations, upending the carrier’s plan to return to profit. United said it expects revenue in the current quarter to recover to up to 75% of 2019 levels, improving from about 68% in the quarter through September. The company reported an adjusted loss of $1.02 per share, compared with a loss of $8.16 per share last year at the height of the coronavirus pandemic. Analysts were forecasting a loss of $1.67 per share, according to Refinitiv data.
Cannabis Stocks – Back on watch as a group following yesterday’s late session rally, Two of the largest states made announcements that serve to benefit local sectors. California signed into effect a bill that will fully legalize smokable hemp and edibles containing CBD (cannabidiol). Less than a year after legalizing cannabis, New York’s government has also ruled that most employers will not be able to drug test employees for it. TLRY, CRON, CGC, SNDL
Vinco Ventures – Sharply lower after announcing its CEO and Chairman Christopher Ferguson has resigned from the company, effective Oct. 25, 2021. Both have assumed new roles with Zash the parent company and Cryptyde. Sept. 15 marked the proxy record date for shareholders needing to own Vinco shares in order to receive shares of spinoff Cryptyde. Cryptyde is expected to go public later on with ticker TYDE in the form of a dividend. Vroman will become CFO of Cryptyde.
Bitcoin – Came within $400 of ATHs overnight, the new ProShares Bitcoin Strategy ETF, the first U.S. bitcoin futures ETF, was second most traded stock among Fidelity customers on Tuesday according to the company. Fidelity customers placed 10,104 buy orders and 71,266 sell orders for BITO on its commission-free brokerage platform. The ETF ended 2.6% higher in its debut in the previous session with $1 bln worth shares changing hands.
Squeeze Stocks – A group of one-time meme stocks rallied back to life late in the session yesterday, the move followed an SEC report on the “meme” trading craze that suggested no further actions were required. WISH, BB, CRSR, HX, KODK, GRVI were among the biggest benefactors of the rally.
Troika Media Group – Micro cap media and ad agency up on no news. Also rallied yesterday with squeeze stocks, 23.8m free float.
LumiraDX – Trading up over 30% after approval for its COVID-19 antigen test in India.