Morning Movers
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F.NY 4.79%
Ford Motor Co – Confirmed this morning it will run its electric vehicle (EV) and internal-combustion engine (ICE) units as separate entities, in a move aimed at supercharging its EV business as it plays catch up with Tesla.

SOFI.NQ 14.91%
SoFi Technologies – Reported a smaller loss of ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $279.88 million during the quarter, compared to analyst estimates of $279.47 million. During the same period last year, the business posted ($1.85) EPS. SoFi Technologies revenue was up 53.8% compared to the same quarter last year. SoFi Technologies updated its Q1 2022 guidance to EPS and its FY 2022 guidance to EPS.

JWN.NY 31.53%
Nordstrom Inc – Higher after multiple PT increases from analysts this morning, the company forecast full-year revenue and profit above estimates on Tuesday, signaling strong demand for its upscale apparel and footwear as Americans resume normal life. The department store chain said it expects to be in a position to return cash to shareholders in the first quarter. JWN has a 15.2% short interest.

AMC.NY 1.36%
AMC Entertainment – The popular meme stock is trading higher premarket after the company beat estimates for Q4 revenue as box-office hits such as “Spider-Man: No Way Home” brought people back to the movies. AMC posted an adjusted loss per share of 11 cents, narrower than forecast of 26 cents. The company’s revenue for the quarter ended Dec. 31 was $1.17 billion, above expectations of $1.10 billion.

RIVN.NQ -1.47%
Rivian Automotive – Has increased selling prices of its vehicles by about 20% due to inflationary pressures and higher component costs, angering some customers. The price increase also invited caustic comments from Elon Musk, chief executive of rival Tesla, who tweeted that Rivian’s “negative gross margin will be staggering” and it is “near impossible” for other firms to make affordable electric pickup trucks. The base price of the Rivian R1T is rising to approximately $79,500 from $67,500, while the R1S is starting at $84,500, up from $70,000.

CRM.NY 3.97%
Salesforce . com – Reported quarterly revenue and profit above Wall Street estimates, as a pandemic-led shift to hybrid work kept up the strong demand for its cloud-based software. Salesforce’s subscription and support revenue for the fourth quarter rose 24.7% to $6.83 billion. For 2023, Salesforce expects revenue of $32 billion to $32.1 billion, above expectation of $31.78 billion. The company’s revenue rose 26% to $7.33 billion in the quarter, beating analysts’ estimate of $7.24 billion.

Oil Stocks – Remain on watch rallying for a third straight session along with crude prices as the Russian/Ukraine conflict intensifies. XOM shares are higher after the top U.S. oil producer late yesterday highlighted plans to eliminate as much as $9 billion in costs per year by 2023, while emphasizing on shareholder returns and energy transition investments. The company said the moves would help it double earnings and cash flow potential by 2027, compared to 2019 levels. CVX rallied to new ATHs yesterday after increases its current shares buyback program. Recent smaller, high flying producers IMPP, INDO and BORR are also rallying in early trading. XOM, OXY, CVX, MRO, DVN, IMPP, INDO, BORR

PLTR.NY 1.31%
Palantir Technologies – Announced a new long-term agreement with engineering firm Jacobs that will see the strategic collaboration target data and technology solutions for the infrastructure and national security markets. The near-term focus of the relationship is the water sector – a critical enabling infrastructure – and involves the launch of a joint data analytics offering to support public and private sector clients in solving their most complex water infrastructure problems.

MULN.NQ 7.77%
Mullen Automotive – Very active premarket for the third straight session even with yesterday’s sharp sell off, the stock is trading back above the $1 level on heavy volume. The company gave a positive update on its solid state battery work earlier this week.

PSFE.NY 11.07%
PaySafe Ltd – The company reported a surprise profit in Q4, net income was $90.3 mln vs a loss of $3.4 mln a year ago. Revenue was up marginally to $371.7 mln from $370.3 mln; Analysts’ estimate was $357.4 mln, per Refinitiv IBES data. The company forecast FY22 revenue in range of $1.53 bln – $1.58 bln, in line with analysts’ estimate of $1.54 bln, per Refinitiv IBES data.

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