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Twilio Inc – Sharply lower even as the cloud communications company posted a beat on both earnings and revenue for the third quarter. The company reported strong revenue guidance for the fourth quarter, but projected a wider fourth-quarter loss overall of 23 cents per share to 26 cents per share compared to an expected loss of 8 cents.
Ford Motor Co – Said it continues to charge forward with big investments in electric vehicles, F raised its full-year profit forecast and said it will restore its dividend. Raised its 2021 profit forecast for the second time in as many quarters and is now projecting $10.5 billion to $11.5 billion in earnings before interest and taxes. In an indication that it is managing the chip shortage better than its rival, Ford, with sales of US$35.7 billion, generated more revenue than competitor General Motors Co. GM earlier on Wednesday reported quarterly revenue of US$26.8 billion. The carmaker announced it will restore a quarterly dividend, paying shareholders 10 cents a share or US$400 million in total in the fourth quarter.
Digital World Acquisition Corp – Back on watch trading higher premarket on volume along with PHUN. DWAC was the most popular stock with retail traders last week, with $221 mln of retail inflow, J.P.Morgan data showed. About 14% of all market volume at DWAC can be attributed to retail market orders, JPM estimates. A media report on Wednesday that Republican Marjorie Taylor Greene invested between $15,000 and $50,000 in the blank check firm pushed its shares up as much as 25%. PHUN, DWAC
GlobalFoundries Inc – Set to make its debut on the Nasdaq today under ticker symbol “GFS”, the chipmaker sold shares in its initial public offering (IPO) at $47 a piece, at the higher end of its targeted price range, to raise about $2.6 billion. The IPO gives GlobalFoundries a valuation of about $26 billion, making it one of the biggest stock market flotations of the year in the United States.
Merck & Co – Reported adjusted earnings of $1.75 per share, higher than consensus analysts’ estimate of $1.55, the company also raised and narrowed its 2021 guidance for revenue and profit to $47.4 bln-$47.9 bln and $4.71-$4.76 per share respectively, excluding impact of potential launch of COVID-19 drug molnupiravir. Cancer drug Keytruda sales grow 22% to $4.5 billion, while that of cervical cancer vaccine Gardasil beats estimate.
Futu Holdings – Chinese online brokers Futu and UP Fintech TIGR are tumbling again premarket as comments from a Chinese central banker sparked fresh regulatory fears for the sector. In a speech, the head of the Financial Stability Department of the People’s Bank of China said “Online brokerages not licensed in China are conducting illegal businesses if they serve Chinese clients via the internet.” FUTU and TIGR face regulatory risks as China’s new personal data privacy law takes effect on Nov. 1.
Inflarx NV – German based biotech, former SPAC trading higher after providing a current quarter update that was better than prior forecasts. Raymond James upgrade and PT increase on the stock.
HCW Biologics – Preclinical biopharma stocks higher after announcing it has received FDA Clearance to Proceed with Phase 1b Clinical Trial for Immunotherapeutic HCW9218 for Pancreatic Cancer.
Medigus Ltd – Announced plans to form a new joint venture to trade NFT Assets, plans to invest up to $5M.