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Tesla Inc – Extending declines from Wednesday’s session breaking $700 in premarket trading. The company said yesterday is will work to expand Shanghai production over the remainder of the year. Overall geopolitical pressures remain the main influence.
Big Tech – Will this group lead today? With increased volatility and geopolitical pressures the key will be are strong stocks strong? Look to this group for clues in either direction. AAPL, MSFT, FB, GOOGL, AMZN
Alibaba Group – Reported its slowest-ever increase in quarterly revenue since going public in 2014, as tepid growth in its core e-commerce business and intensifying competition ate into sales. The slowing Chinese economy has taken a toll on the e-commerce company, as consumers cut back discretionary spending. During its annual Singles’ Day promotional event last November, the company recorded gross merchandise value growth of 8.5%, a record low. Alibaba is also facing intensifying pressure from rivals like TikTok-owned ByteDance and Kuaishou, who have capitalized on the booming trend of livestreaming e-commerce.
Travel Stocks – Among the hardest hit in premarket actions, NCLH reports EPS of -$1.95 misses by $0.34, revenue of $487.4M missed by $108.81M. Airlines and Casino stocks are also tumbling in early action. CCL, RCL, NCLH, AAL, UAL, DAL, LUV, SAVE
Oil Stocks – Sharply higher as a group as crude oil tops $100/barrel for the first time since 2014, and U.S. oil prices jumped 6 percent. Russia is a dominant natural gas and oil exporter, particularly to Europe, and some of its supply transits via pipeline across Ukraine. OXY, CVX, XOM, DVN, MRO
Moderna – Down more than 5% in early trading after it raised its full-year sales forecast for its COVID-19 vaccine by 2.7% to $19 billion, as it seeks to ramp up manufacturing following production problems last year. The company also said that it was planning to buy back $3 billion in shares. The vaccine maker expects higher sales in the second half of 2022 as it believes the coronavirus pandemic will enter an “endemic phase”. Moderna had previously projected sales of $18.5 billion from its vaccine, with an additional $3.5 billion in options. It now expects $3 billion in options.
Indonesia Energy – Micro cap energy stock extending recent gains on increased social media chatter and spiking oil prices. $56m market cap, 1.5m free float.
Imperial Petroleum – Sharply higher again in early trading as oil continues to spike, $16m market cap, 13.3m free float.
Houston American Energy – Another micro cap oil & gas producer up sharply in premarket trading, 8.8m free float.