Morning Movers
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MSFT.NQ 5.29%
Microsoft Corp – Posted earnings of $2.22 per share on Tuesday, ahead of the $2.19 expected on the Street, while revenues came to $49.36bn, up 18% year-on-year and better than the $49.05bn predicted by analysts. Sales and marketing expenditures totalled $5.6bn, 10% higher than the same time a year earlier and the fastest growth in over three years. Microsoft called for fourth-quarter revenues of $52.4bn-53.2bn, with guidance for each of the company’s three business segments surpassing expectations.

LCID.NQ 4.54%
Lucid Group – Announced it has signed agreement with Saudi Arabia for purchase of up to 100,000 of its EVs over 10 years. Says initial commitment will be for 50,000 vehicles with option to buy additional 50,000 vehicles within the 10-year period. Deliveries are expected in 2023, with annual order numbers initially ranging from 1,000 to 2,000, and increasing to between 4,000 and 7,000 starting in 2025.

TSLA.NQ 0.69%
Tesla Inc – Back on watch after yesterday’s epic sell off, more than 125 billion in value was wiped off the stocks value amid concerns that boss Elon Musk may have to sell down his stake to fund his takeover of Twitter. Tesla shares tumbled 12.2% on the technology-heavy Nasdaq index in America , with investors spooked by speculation that its multi-billionaire chief executive will sell off his stock to pay for the cash portion of his 44 billion dollar mega deal.

BA.NY -4.64%
Boeing Bo – Reported Q1 revenue $13.9b vs. estimate $16b, EPS of -$2.06 missed estimates, reported Q1 net income -$1,2b and said lower defense volume in the quarter along with charges on fixed-price defense development programs, partially offset by commercial services volume. The company also disclosed a $1.5-bln hit from halt to 777x production; submits plan for Dreamliner.

TWTR.NY -0.92%
Twitter Inc – Back on watch after yesterday’s sharp sell off, Twitter Inc. will be required to pay a termination fee of $1 billion under certain circumstances if it ends an agreement to be acquired by Elon Musk for $44 billion, according to a filing Tuesday. Musk will also be subjected to the same fee if he ends the deal. There are also fresh concerns over new misinformation laws in Europe and the UK that could raise concerns over the company’s operations in those company’s following the deal closing.

V.NY 5.85%
Visa Inc – The world’s largest payments processor said on Tuesday it expects revenue to accelerate past pre-pandemic levels, reassuring investors of a sustained recovery against the backdrop of challenging macroeconomic conditions. The company reported better than expected net income of $3.6 billion, or $1.70 per share, above analysts’ average estimate of $1.65 per share. Visa’s operating expenses, however, surged 11% to $2.4 billion as it spent more on employee compensation and marketing.

FB.NQ -3.17%
Meta Platforms – Sharply lower ahead of earnings tonight, WhatsApp will within weeks roll out cashback rewards to lure more Indians to its peer-to-peer payments service and is testing similar incentives for merchant payments, two sources said, as the company seeks to compete with rivals including Google. The latest move comes days after WhatsApp won regulatory approval to more than double its payments offering to 100 million users in India, its biggest market with more than half a billion users overall

DWAC.NQ 4.66%
Digital World Acquisition Corp – Impressive late session rally in a weak market, trading higher on volume again premarket.

AFIB.NQ 49.72%
Acutus Medical – Higher after agrees to sell its portfolio of Heart Devices to Medtronic.

NUTX.NQ 16.28%
Nutex Health Inc – Yesterday’s runners trading higher in the premarket, the medical equipment maker who made its debut in April via a merger with Clinigence had no notable news releases or obvious catalyst.

COSM.NQ 134.00%
Cosmos Holdings – Low float (9m) pharma runner no news.

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