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SQ.NY 18.70%
Block Inc – The payments company of Twitter Inc founder Jack Dorsey, posted better than expected fourth-quarter profit thanks to a highly volatile bitcoin market and booming online retail, sending its shares soaring. The company said its fourth-quarter pre-tax profit, which did not include earnings from Afterpay. Total revenue hit $4.08 billion in the quarter from $3.16 billion a year earlier, while “gross profit” jumped 47% to $1.18 billion, the company said. Its unit that sells terminals and software for businesses to process payments, Square, generated gross profit of $657 million, up 54%. Cash App, which lets individuals send payments including in bitcoin, grew gross profit 37% to $518 million. Cash App generated $1.96 billion of bitcoin revenue in the quarter, up 12% from a year earlier despite the cryptocurrency sharp swings in value late last year. Dorsey founded Block, remains a large shareholder and serves as company chairman.

BYND.NQ -10.71%
Beyond Meat – Fourth-quarter and full-year 2021 results didn’t satisfy investors. Shares of the plant-based meat-substitute maker dropped 10.8% in Thursday’s after-hours trading session. The sell-off is attributable to fourth-quarter revenue and earnings falling short of the Wall Street consensus estimates and 2022 revenue guidance coming in lighter than analysts had been expecting. The California-based company said it expects revenue of $560 million to $620 million for 2022, compared with estimates of $637.3 million, according to Refinitiv IBES data. Sales to U.S. grocers, convenience stores and other retailers declined 19.5% in the fourth quarter ended Dec. 31.

COIN.NQ 1.25%
Coinbase Global – Lower after forecasting sequentially lower transaction volumes in the current quarter. Trading volumes jump more than 67% to $547 bln in the quarter ended Dec. 31, but current quarter volumes could be lower by $100 million to $200 million. At least four brokerages cut price target on stock.

TSLA.NQ 1.31%
Tesla Inc – Looking to hold gains from late in the session yesterday, multiple PT cuts on the stock including Daiwa Capital Markets cuts target price to $900 from $980, to reflect higher macro-uncertainties and risks to near-term margins.

BIG Tech – The group led the rally late in the session yesterday and will be closely watched again. AAPL, MSFT, NVDA, NFLX, AMD, GOOGL, AMZN

FL.NY -17.00%
Foot Locker Inc – Down sharply and set to open at its lowest level since Oct. 2020. FL forecasts full-year profit below expectations and projects slump in annual comparable sales as co grapples with higher costs and lapping of stimulus benefits from 2021. Sees 2022 adjusted profit between $4.25 and $4.60 per share, lower than analysts’ estimate of $6.49, according to Refinitiv IBES data. FL also expects comparable sales in 2022 to be down 8% to 10%.

ETSY.NQ 16.89%
Etsy Inc – Beat estimates for Q4 results, boosted by strong holiday demand for gifts and other products on its online marketplace. ETSY’s Q4 revenue jumped over 16% to $717.1 mln, beating estimates of $685.5 mln, according to Refinitiv IBES. Multiple PT hikes this morning.

FTCH.NY 30.38%
Farfetch Ltd – Shares of the online luxury retailer are sharply higher set for their second straight session of gains after the company forecast digital platform GMV growth, an e-commerce measure of transaction volumes, of 28% to 32% topping estimates; forecasts adj. EBITDA margin of 1% to 2%. The company reported its first year of adj. EBITDA profitability.

Cyber Security Stocks – Reports of multiple cyber attacks against Russia sent this group rallying yesterday and are higher again this morning, Israel-based Cyren Ltd was among the biggest gainers on the session along with US cyber security firm Ironnet Inc. Larger peers in the group however didn’t really anywhere near as much. Industry leader Palo Alto Networks has been hailed as a cybersecurity play for the year was only up 13% for the day. Hyper-growth stock SentinelOne has been rising as well. Its gains are just shy of 15%. CYRN, CISO, PANW, S

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