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

NKE.NY 12.94%
Nike Inc – Posted a surge in fourth quarter gross margins and record overall sales that offset a modest slump in China for its latest quarter, shares are set to open at a record high Friday. The world’s biggest sports apparel group forecast 2022 sales of more than $50 billion on the back of better-than-expected fourth quarter earnings. Nike said earnings for the three months ending in May came in at 93 cents per share, up from a loss of 51 cents last year and smashing the Street consensus forecast of a 51 cent profit. Group revenues were up 95.5% YoY to $12.34 billion as consumers rushed to buy sports and fitness gear amid fading pandemic restrictions in major economies around the world.

FDX.NY -3.85%
Fedex Corp – Shares in the U.S. delivery firm are sharply lower to start after the company said potential hiring difficulties tempered its 2022 earnings forecast that missed Wall Street expectations. FedEx founder and CEO Fred Smith told analysts that operations at the Memphis-based company are being crimped by an inability to find enough workers. FedEx also reported a slightly higher than expected increase in profit and revenue for the fourth quarter that ended May 31. Adjusted net income nearly doubled to $1.36 billion, or $5.01 per share, from the year-earlier quarter. Revenue increased 30% to $22.6 billion. Analysts had expected fourth-quarter earnings of $4.99 per share and revenue of $21.5 billion, according to Refinitiv.

PSFE.NY 8.37%
Paysafe Ltd – The leading specialised payments platform announced the extension of its relationship with the fintech and financial intermediary company SweePay. The new collaboration will allow Swiss residents to settle bills using Paysafecash, a leading online cash solution. The extended agreement follows SweePay’s launch of Paysafe’s popular prepaid solution – paysafecard – as a payment option in 2015.

TRCH.NQ 5.05%
Torchlight Energy Resources Inc – Higher in early trading coming off a third consecutive decline totalling more than 52%, a fall was exacerbated by a cumulative 3-day volume of 10.6 times the average 3-day volume of 15.1 million shares. The stock remains high on the WSB mentions list and is actively trading again this morning.

TSLA.NQ 0.84%
Tesla Inc – Along with fellow EV sector names are mostly higher in premarket trading after U.S. President Joe Biden yesterday proposed $174 bln on electric vehicles, including $100 billion on electric-vehicle consumer rebates. The funding would “accomplish the president’s goal of building 500,000 EV chargers” according to the White House. Biden had previously sought $15 billion for EV charging stations.

WISH.NQ -0.42%
ContextLogic Inc – Another WSB favorite back on watch this morning active in the premarket again.

CCIV.NY 1.85%
Churchill Capital IV – Announced effectiveness of registration statement and sets July 22, 2021 as date of stockholder meeting for the Lucid business combination

SPCE.NY 12.27%
Virgin Galactic – Received approval from the FAA for full Commercial Launch License following success of its May test flight.

FFHL.NQ 60.16%
Fuwei Films – Micro-cap Chinese packaging maker set to open at four-month high after posting net income that more than doubled in Q1, boosted by higher product prices and lower expenses.

GRVI.NQ 30.00%
Grove Inc – Micro-cap pharmaceutical IPO from yesterday up sharply premarket and actively traded, 5.7m share free float.

PIRS.NQ 19.91%
Pieris Pharmaceuticals – Trading higher on new development plans for its PRS-220 in lung disease treatment, the company also secured a $17M grant.

Leave a Reply

Your email address will not be published. Required fields are marked *