Morning Movers
Watch us on YouTube Live at 8:30AM EST

Chinese Stocks – Higher as a group across the board this morning with no additional news catalysts. Following a stellar report from yesterday, we learned aftermarket Cathie Wood-led ARK Autonomous Technology & Robotics ETF ARKQ bought more than 164,000 shares of JD throughout the session. BABA meanwhile is trading up more than 5% premarket along with Pinduoduo Inc, its shares are up 11%. BIDU, BABA, JD, PDD, TME, DIDI, LI, XPEV, NIO, BILI, FUTU, DOYU

BBY.NY 4.40%
Best Buy Co Inc – Raised its full-year comparable sales forecast on Tuesday, as the electronics retailer expects demand to be resilient compared to analysts’ fears of a drop in growth from a pandemic-induced sale surge last year. The company said demand held strong in the second quarter, with Best Buy reporting a 20% jump in comparable sales, beating estimate of a 17.2% increase, according to IBES data from Refinitiv. Best Buy said it expects full-year comparable sales to rise 9% to 11%, compared to its previous forecast of an increase of 3% to 6%. The company said it expects third-quarter comparable sales to fall 1% to 3%, compared with analysts’ average estimate of a 9.1% drop. EPS beat by $1.09/share, beat on revenue.

MSFT.NQ -0.02%
Microsoft Corp – After announcing an increase to Office 365 pricing the stock closed at a fresh ATH yesterday and is looking to extend its recent rally this morning. The company also announced last week the changes are designed to push customers to more expensive subscriptions, which are seeing a smaller increase, to which Goldman Sachs released a positive note suggesting, Microsoft stands to grow Azure and Windows revenue as a result of the increased price of one bundle.

DKNG.NQ 1.37%
Draftkings Inc – Announced it has agreed to a multi-year deal with Simplebet to expand Sportsbook and In-Game Offerings.

BA.NY 0.70%
Boeing Co – Looking to extend Monday’s strong rally, Monday Billionaire Richard Branson’s Virgin Orbit said it will go public through a merger with a blank-check vehicle in a deal that values the company at $3.2bn and includes an investment from Boeing.

PTON.NQ 2.12%
Peloton Interactive Inc – Confirmed the all new Peloton Tread will be available in the United States, Canada, and the United Kingdom August 30, and will be available in Germany in fall 2021. The new Peloton Tread combines Peloton’s award-winning content and quality design with safety features integrated into the experience to create an efficient and engaging total body workout experience.

COIN.NQ 1.18%
Coinbase Global – Trading higher premarket on low volume after Needham initiates coverage with a “buy” rating and PT of $420, implying ~64% upside to stock’s Monday close. Analyst John Todaro sees COIN as a market-leading crypto asset exchange with significant opportunities beyond exchange services.

BPTH.NQ 31.99%
Bio Path Holdings – Trading higher this morning after receiving FDA clearance for its BP1002 application in acute myeloid leukemia treatment.

CARA.NQ 21.43%
Cara Therapeutics Inc – Set to open at its highest level in almost four months. The company announced after the close yesterday the U.S. FDA approved its injection Korsuva to treat moderate-to-severe itching in patients with chronic kidney disease undergoing dialysis.

Leave a Reply

Your email address will not be published.