Morning Movers
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VIAC.NQ -0.70%
ViacomCBS Inc – Media stocks were hammered on Friday and are under pressure again this morning with shares of ViacomCBS and Discovery shares targeted as part of what Bloomberg reported as an “unprecedented” $35 billion in block trades, that also included Chinese companies. Sunday we learned it was Archegos Capital Management LLC — family office of trader Bill Hwang that was forced into liquidating certain positions and sold a major block of Viacom and Discovery as well as dumping shares of Chinese technology companies and other U.S. media conglomerates. The Wall Street Journal later reported the same. Multiple sources this morning are suggesting there will also be a 45m shares trade priced at $47. DISCA

CS.NY -12.12%
Credit Suisse Group AG – Warned Monday they were facing big losses after U.S. hedge fund Archegos Capital, defaulted on margin calls, putting investors on edge about who else may be caught out in this, Nomura said it faced a possible $2 billion loss due to transactions with a U.S. client while Credit Suisse said a default on margin calls by a U.S.-based fund could be “highly significant and material” to its first-quarter results.

BA.NY 2.54%
Boeing Co – Higher in early trading on news Southwest Airlines will continue to build its business around the 737 MAX family with a new order for 100 airplanes and 155 options across two models. The deal comes after a multi-year fleet evaluation by Southwest and means that Boeing and its suppliers could build more than 600 new 737 MAX jets for the airline through 2031.

TME.NY 8.16%
Tencent Music Entertainment Group – Up 5% premarket after also being caught up in the Archegos lead selloff Thursday and Friday last week. Tencent announced a US$1 billion ($1.34 billion) share buyback Monday, days after the Chinese online music company was caught up as one of the names hit by a liquidation of holdings by former Tiger Management trader Bill Hwang.

CRYPTO.STOCKS 5.23%
Crypto Stocks – Back on watch this morning trading higher on BTC strength, shares of SOS Ltd. are among the lead advancers in early trading the company announced on Friday it plans to establish a digital asset exchange and said it has entered a tailor-made license to use a blockchain asset exchange software system made by a third party. SOS, MARA, RIOT, SI, MSTR, EBON are all up between 2%-5%.

TWTR.NY 1.94%
Twitter Inc – Showing relative strength in premarket trading, Truist Securities raised its PT on the stock to $74 from $64.

BIDU.NQ 0.43%
Baidu Inc – Another Chinese name looking to bounce trading higher in the premarket, was also caught up in the Archegos liquidation on Friday along with Alibaba.

SEAC.NQ 32.04%
SeaChange International – Sharply higher in the premarket after the online media and content provider secured a multi-year, multi-million-dollar contract with one of the largest broadband service providers in the United States. Under the new contract, SeaChange will work with the customer to move its infrastructure to a virtual platform, thereby reducing the operator’s hardware footprint and enabling higher availability of service.

UPC.NQ 105.20%
Universe Pharmaceuticals – Chinese pharma stocks are trading higher in the premarket on no apparent significant news. UPC, CPHI, HYW

HGEN.NQ 59.04%
Humanigen Inc – Small cap pharma stock higher on news its lead drug candidate, lenzilumab, improved ventilator-free survival in hospitalized COVID-19 patients in a late-stage trial.

NFT.STOCKS 11.08%
NFT Stocks – The group trading higher again in the premarket on volume, WKEY, HOFV, TKAT, JFIN, OCG, YVR, FNKO, CIDM, CSCW

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