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Chinese Stocks – On watch as a group trading lower in the premarket following the Evergrande headline, overall weakness in Chinese stock futures are pressuring the group as we anticipate more details regarding the possible default from Evergrande. BABA, JD, PDD, BIDU
NIO Inc – Confirmed the launch of a new 75-kWh hybrid-cell battery pack with a longer range in cold weather and accurate state-of-charge estimation; Deliveries expected to start in Nov.
Blackberry Ltd – Beat Wall Street estimates for second-quarter revenue on Wednesday amid strong demand for its cybersecurity and Internet of Things software products. The company continues to benefit from an uptick in demand for cybersecurity and IoT products as more businesses and government organizations shift their operations to the cloud in order to support hybrid working. Revenue fell to $175 million for the quarter from $259 million a year earlier, but beat analysts’ expectation of $163.5 million. Net loss widened to $144 million, or 25 cents per share, from $23 million, or 4 cents per share, a year earlier.
General Motors – Has announced a $300 mln investment into Chinese autonomous driving startup Momenta to develop self-driving tech for future models in China. It is GM’s first such tie-up in the world’s biggest car market.
Roku Inc – Guggenheim upgrades Roku on strong growth path.
Marin Software Inc – Lower premarket after yesterday’s impressive move that followed news the company entered into a revenue share agreement with Google LLC to develop its enterprise tech platform and software products. The revenue share agreement will take effect after September 30, 2021 following the scheduled termination of the existing agreement between Marin and Google from December 2018.
Vaccine Stocks – The FDA has authorized a third booster shot dose of Pfizer’s Covid-19 vaccine for people aged 65 or older and those at high-risk of severe disease, including from their jobs. PFE, MRNA, BNTX, JNJ
Salesforce.com – Increased its FY22 revenue guidance and also increased its FY23 revenue outlook from $31.65 Billion to $31.80 billion.
Medirom Healthcare Technologies – Japan-based health and lifestyle co said on Wednesday after market close that it will buy Japanese private hair salon operator Zacc Kabushiki Kaisha in an all-cash deal of 370.0 mln yen.
Digital Brands Group – Micro-cap, low float(6.5m) apparel and accessories maker up on little to no news catalyst.
Eargo Inc – Shares are set to open at record low as JPM cuts rating following news of a DoJ criminal investigation.