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Intel Corp – Intel EPS beats by $0.25 the company also beat on revenue for its current quarter, INTC also forecast second-quarter revenue above Wall Street estimates, betting on demand for its new generation of processors for data centers and PCs as cloud-based services become an integral part of businesses. The company expects second-quarter revenue of about $17.8 billion or $1.05/share compared to analysts’ average estimate of $17.59 billion.
Snap Inc – Snap forecasts 80% revenue rise in second quarter as Covid curbs ease, the company posted quarterly breakeven results per share for its latest quarter while expectation were for a loss of 6 cents per share. Revenue rose 66.4% to $769.58 million from a year ago; analysts expected $743.79 million. Snap Inc’s reported EPS for the quarter was a loss of 19 cents. The company said dailly active users (DAUs), a metric closely watched by investors and advertisers, rose 22% year-over-year to 280 million in the first quarter. Analysts had expected 275.3 million.
MicroVision Inc – Back on watch despite fading yesterday’s initial strength, the stock is trading up nearly 6% premarket. The stock was the most mentioned name on Reddit’s WallStreetBets forum Tuesday and Wednesday this week drawing attention to the name that has seen increased short interest over the past few weeks.
Nikola Corporation – Back on watch this morning after yesterday’s impressive rally adding nearly 24% at one point, board member Jeffrey Ubben defended the electric vehicle company in an interview with CNBC yesterday, saying despite the controversy over its founder and former chairman and ceo Trevor Milton, the company had its head down and is working towards achieving its goals. The company, through its Energy division announced yesterday it will team up with TravelCenters of America, are to collaborate on the installation of hydrogen fuelling stations for heavy-duty trucks at two existing TA-Petro sites.
Crypto Stocks – Lower across the board premarket with another sharp selloff in BTC prices, cryptocurrency markets were also hit hard on fears U.S. President Joe Biden’s plan to raise capital gains taxes will curb investment in digital assets. BTC is traded at its lowest level since early March overnight and will remain closely watched this morning. COIN, SI, MSTR, SOS, BTBT, RIOT, MARA, BTCC.B
Airline Stocks – Set to open higher as a group this morning despite weak earnings from multiple participants this week, Raymond James analysts out this morning with an upgrade on AAL shares to “Market Perform” from “Underperform”. Stifel raised PT from $57 to $67 on SouthWest shares (LUV) that were relatively strong yesterday as it stated expectations of returning to profitability by the second half of this year. UAL, AAL, DAL, LUV, ALK, SAVE
Skillz Inc – Recent high-flyer actively traded in the premarket again this morning, Jefferies starts coverage of mobile gaming company with a “hold” rating saying Skillz boasts some of the best mobile game user metrics with leading payer conversion rates. However, brokerage remains on the sidelines on valuation and sets PT of $17, which represents an upside of about 3% to stock’s Thursday close.
Skechers USA – Higher this morning post earnings, Morgan Stanley also upgraded the stock. Reported quarterly earnings of $0.63 per share, beating estimates of $0.49 per share. This compares to earnings of $0.39 per share a year ago. The company also provided a revised, positive forecast for the remainder of the year.
American Express Co – Exceeded quarterly profit estimates saying it released more than $1 billion worth of funds it had set aside to cover potential coronavirus loan losses.Net income rose to $2.74 per share from 41 cents per share a year earlier, beating analysts’ estimates of $1.61 per share. The credit card issuer’s total revenue, excluding interest expense, fell 12% to around $9 billion.
Mattel Inc – Reported a loss of 10 cents per share in its latest quarter after the close yesterday, smaller than the 35 cents per share loss analysts had expected. The company however also said it will consider turning its collector brands into non-fungible tokens (NFTs), the toymaker said after posting a record 47% surge in quarterly sales as Americans snapped up Barbie dolls and Hot Wheels cars in the usually slow post-holiday months.
Ocugen Inc – Looking to extend an impressive rally from late in the day yesterday, shares continued their rise for a second straight day, closing up nearly 43%. The rally followed news from its COVID-19 vaccine partner, Bharat Biotech, who reported strong phase 3 results in a second interim analysis of COVAXIN covid-19 vaccine. COVAXIN is also now listed on the FDA’s Substance Registration System.
Sypris Solutions Inc – Up sharply in the premarket after saying its unit Sypris Electronics received a follow-on award from U.S. Department of Defense to manufacture and test electronic assemblies for a government spacecraft program. SYPR said production is expected to begin in 2021.