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Twitter Inc – Bloomberg is reporting this morning that a takeover deal between the social media platform and Tesla CEO Elon Musk could be reached as soon as today. Multiple source are reporting the two sides are in the final stretch of negotiations over a possible sale.
Oil Stocks – Lower as a group with the price for crude this morning as worries about lower Chinese demand continue to hurt prices, Beijing meanwhile saw the Chinese yuan skid to a fresh one-year low. XOM, OXY, CVX, DVN, MRO
Chip Stocks – Multiple analysts cautious on this group this morning stating that a sharp drop in graphic chip prices could presage an unexpectedly quick ending to a global chip crunch that has crippled manufacturing from smartphones to cars, and the issue will be a central one for companies reporting results this week. As Intel, Qualcomm and others report, investors will weigh how dampened consumer spending from inflation, China’s COVID lockdown and Russia’s invasion of Ukraine balance out supply chain blockages for microchips. AMD, NVDA, AMAT, MU, INTC
Apple Inc – Mega-cap tech lead the sell off Friday, important week for these stocks all set to report earnings. JPMorgan cuts target price to $205 from $210, citing lower iPhone unit outlook from preliminary smartphone data for C1Q22, which has tracked below expectations as per industry analyst estimates.
Coca-Cola – Red to green premarket following a better than expected quarterly report, Coke’s unit case volume rose 8% during the quarter, fueled by demand for drinks like Powerade and Coke Zero Sugar. Despite the suspension of its Russian business, the company reiterated its full-year outlook for organic revenue and comparable earnings per share growth. EPS of 64 cents adjusted beat estimates of 58 cents while revenue of $10.5 billion topped $9.83 billion expected.
Bed Bath & Beyond – Back on watch after another move Friday on more possible buyout rumors. The Wall St Journal reported the company received bids to buy its BuyBuy Baby business. Share price was up almost 7% in the last 30 minutes of Friday trading.
Tesla Inc – Lower premarket on reports Twitter Inc is close to a potential deal with Elon Musk, Friday multiple reports suggested Musk’s latest bid for the social media platform could involve a portion of his own shares in TSLA.
Ardelyx – Higher after the FDA said it plans to convene an advisory committee to look at the company’s Xphozah drug.
Nkarta – Announced positive preliminary dose finding data for two lead engineered natural killer cell programs.
Erytech Pharma – Sells U.S. Manufacturing Facility For USD 44.5 Million.