Morning Movers
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Oil Stocks – Crude oil briefly tested the $100/barrel level again this morning sending this group higher premarket, separately, CVX said on Monday it would buy biodiesel maker Renewable Energy Group Inc REGI.O in an all-cash deal valued at $3.15 billion as the oil major looks to boost its clean-energy business. Chevron will pay $61.5 for each share of Renewable Energy, representing a premium of over 40% to the company’s last closing price. BP shares are down sharply after saying it would sell its nearly 20% stake in Russia’s state-controlled oil producer Rosneft following Russia’s invasion of Ukraine.XOM, CVX, BP, DVN, MRO

Defence Stocks – Defence stocks in Europe and the United States surged in a falling market on Monday after news that Germany will increase its military spending in response to Russia’s invasion of Ukraine. U.S. weapons makers extended gains, with Lockheed Martin adding 5.5% in premarket trading. Raytheon and Northrop Grumman were up about 5%. LMT, RTX, NOC

Banks – Lower as a group after tougher sanctions by Western countries on Russia following its invasion of Ukraine. All major banks down more than 2% in early trading, Citigroup Inc which has the biggest exposure to Russia among major U.S. lenders, sheds 3.3%. On Saturday, Western nations unveiled harsh sanctions including blocking some banks from the SWIFT international payments system. The new sanctions could hurt the lucrative Russian investment banking business that several U.S. banks have maintained, Reuters reported on Sunday, citing lawyers. JPM, GS, WFC, C, BAC

NIO.NY 0.62%
Nio Inc – Plans to carry out secondary listings in Hong Kong and Singapore as it looks to build in the region further. The company has received preliminary approval from Hong Kong Stock Exchange to trade its shares in the city, according to regulatory filings. Singapore Exchange is also reviewing an application for a secondary listing. NIO says Class A shares are due to start trading on March 10 in Hong Kong under the code “9866” when it receives final approval.

TSLA.NQ -0.10%
Tesla Inc – Higher premarket after Panasonic said it will begin mass producing new Tesla batteries by end-March. The company also said it will expand its current vehicle recall to include certain Chinese made and sold models.

LCID.NQ 1.71%
Lucid Group Inc – Higher ahead of its quarterly report after the bell tonight, the Luxury electric vehicle maker also signed a deal to open a manufacturing plant on Saudi Arabia’s west coast, the company’s first site outside the US.

MULN.NQ 46.80%
Mullen Automotive – MULN shares testing of its latest solid-state polymer battery cells revealed potential for 150-kilowatt-hour battery pack that delivers 600-plus miles of range and 18-minute DC fast charge (DCFC) capable of yielding over 300 miles of range. The company adds it is working towards using batteries in its second generation Mullen FIVE EV Crossover cars, with in-vehicle prototype testing marked for 2025.

ALF.NQ 18.45%
ALFI Inc – AI based software maker up on little news, increased social media chatter throughout the session Friday. $33m market cap, 8m free float.

IMPP.NQ 8.57%
Imperial Petroleum – Along with Indonesia Energy are both trading higher again along with oil prices, both micro cap, low float energy stocks. IMPP, INDO

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