FDX.NY 2.65%
Fedex Corp – Posted higher quarterly earnings and issued a stronger-than-expected full-year forecast on Thursday, J.P. Morgan raised its PT to $284 from $279, saying FY23 outlook came in better than expected despite economic headwinds. FDX reported Q4 revenue of $24.4 bln, up from $22.6 bln a year earlier. Non-GAAP net income of $1.8 bln was up from $1.36 bln last year. The company however did say it is unable to provide fiscal 2023 EPS forecast as it may incur additional costs related to business optimization initiatives.
Big Tech – Back on watch trading higher as a group again premarket after a third straight solid showing yesterday. Citigroup out this morning with a positive note on MSFT shares saying it has named the stock a “top pick, sell-off in software stocks is mostly done.” AMZN shares on watch as well after Evercore ISI cut its target price to $180 from $205, in the wake of a series of softening macro data points. META shares are being added to the Russell 1000 index as a part of a large Russell quarterly rebalance today. AAPL, MSFT, AMZN, GOOGL
Chinese EV Stocks – Showing strength again premarket after a fourth straight positive session yesterday. Recent new model launches from NIO and LI seem to have ignited this group again. Multiple positive analysts notes on the stocks this week as well. NIO, LI, XPEV
TSLA.NQ 0.29%
Tesla Inc – Slightly higher premarket after once again dipping below the $700 level yesterday, Credit Suisse has cut its PT on the stock this morning saying “Current quarter deliveries will fall short because of Chinese production delays.”
CCL.NY 2.38%
Carnival Corp – The cruise operator is expected to report before the opening bell this morning. Most analysts are expecting adjusted EPS of -$1.18 vs. -$1.80 in Q2 FY 2021. Room occupancy is expected to rise significantly YOY, but it still will be below pre-pandemic levels. Revenue is expected to continue its rapid recovery as cruise operations resume.
RBLX.NY 1.65%
Roblox Corp – Extending a monster week with another gap higher premarket, the was up 6.3% on Thursday, with the videogame company rebounding for a fourth straight day and on track to close at its highest level since the start of June. RBLX is now up ~34% since last Thursday, when the stock was trading near the lowest point since its March 2021 direct listing.
BHAT.NQ 15.02%
Blue Hat Interactive – Set to gap higher for a second straight session, the company announced yesterday it was cancelling a previously announced share offering.
TBLT.NQ 86.21%
ToughBuilt Industries – The micro cap construction equipment and supplies manufacturer is active premarket with no apparent news catalyst. $2m market cap, 1.1m float that is 11% short.

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