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GOOGL.NQ 10.36%
Alphabet – Set to open at a fresh record high and set for its best day in nearly seven years, the gain of over $170b in market cap and inches closer to $2 trillion market valuation. The company reported record quarterly sales; Q4 sales up 32% to $75.3 bln, above est of $72.17 bln. Net income of $20.6 billion was 36% higher than in the year-earlier period, translating to earnings of $30.69 per share. That closed a strong 2021 for Alphabet, with revenue up 41% and net income soaring 89% from 2020 levels. The company also announced a massive 20-for-one stock split to take place on July 15th, effective July 18th in a bid to attract more investors.

AMD.NQ 12.55%
Advanced Micro Devices – Chipmakers are higher after the company forecast 2022 rev of $21.5 bln, above consensus est of $20.36 bln. Analysts at Cowen with an upgrade this morning saying “We believe the confidence to guide greater than 30% y/y growth in 2022 indicates the strength of AMD’s relationship with TSMC and confidence it has secured necessary wafer starts to support this robust demand.” EPS of 92 cents per share was up 77% year-over-year from the 52 cents reported a year ago. Revenues climbed 49% year-over-year and 12% quarter-over-quarter to $4.826 billion, beating the guidance for $4.5 billion, plus or minus $100 million.

PYPL.NQ -17.56%
Paypal – Down sharply after the company disclosed a big hit to revenue from the impending loss of marquee client eBay Inc. PayPal projected a 6% rise in revenue in the current quarter, far lower than the 11.7% growth estimated by analysts, the company listed out a number of other factors hurting its performance, including high inflation, the end of stimulus checks and the impact of the ongoing supply chain issues on cross-border volumes. EBay’s transition is expected to put $600 million of revenue pressure in the first half of this year. EPS missed by $0.01 while revenue was in line. SQ also lower on the news.

SBUX.NQ -2.60%
Starbucks Corp – Hurt by higher labour costs in the US and inflation, reported a a smaller holiday-season profit total than expected in an earnings report. Starbucks reported fiscal first-quarter earnings of $815.9 million, or 69 cents a share, on revenue of $8.05 billion, up from $6.75 billion a year ago and just shy of the fiscal-fourth quarter record total of $8.15 billion.

GM.NY 2.03%
General Motors – Reported results that include net income of $1.7 billion, net income margin of 5.2%, EPS-diluted of $1.16, EPS-diluted-adjusted of $1.35, EBIT-adjusted of $2.8 billion and EBIT-adjusted margin of 8.5%.   The company expects full-year 2022 net income to be in a range of $9.4 billion – $10.8 billion and EBIT-adjusted to be in a range of $13.0 billion – $15.0 billion. Tuesday said it will spend more than the $35 billion previously planned through 2025 to speed up launches of new electric vehicles as it prioritizes investments in technology over richer profits next year. GM added it expects 2022 operating profit of $13 bln to $15 bln; Citi analyst Itay Michaeli says he views the guidance as conservative in light of GM’s “surprisingly robust 2022 volume guide”

FB.NQ 3.71%
Meta Platforms – Up 4% premarket ahead of its quarterly report after market tonight. Most analysts are expecting record numbers from the social media giant as well.

CLOV.NQ 7.88%
Clover Health Investments – Higher for the third straight session after multiple upgrades this morning, Cowen goes to $7 PT and “Market Perform” Initiation of Coverage at “Hold” with a $6 PT from Canaccord Genuity.

MDJH.NQ 64.88%
MDJM Ltd – Nano cap real estate company higher after updating its short % aftermarket yesterday. 1.3m share float.

OLB.NQ 25.40%
OLB Group – Online services company, ($20m market cap) announced it achieved annual transaction volume run rate of $1.35 Billion following CBD Merchants Acquisition.

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