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Tesla Inc – Down nearly 5% premarket after announcing it will recall nearly 12,000 U.S. vehicles sold since 2017 because a communication error may cause a false forward-collision warning or unexpected activation of the automatic emergency braking system, the National Highway Traffic Safety Administration said Tuesday. The California automaker said the recall of 11,704 Model S, X, 3 and Y vehicles was prompted after a software update on Oct. 23 to vehicles in its limited early access Full-Self Driving (Beta) population. In a tweet the company’s CEO Elon Musk also said “no contract has been signed with Hertz” after the rental car company announced a deal that led to Tesla’s market value surpassing $1 trillion.
Pfizer Inc – Higher on an earnings beat, Pfizer also raised the full-year sales forecast for its COVID-19 vaccine by 7.5% to $36 billion, as it signs deals with countries for booster doses and receives clearances for using its shots in children. The company had in July forecast sales of $33.5 billion from the vaccine. EPS beat by $0.25/share, revenue also topped estimates.
Under Armour Inc – Sharply higher in early trading after raising its annual revenue and profit forecasts on Tuesday, as people seek comfortable casuals and athletic wear with their pandemic-hit social life still irregular and offices yet to open. The athletic apparel market forecast 2021 revenue to increase about 25%, compared with its previous forecast in low twenties. Analysts on average expect revenue growth of 22.7%. Net revenue increased to $1.55 billion in the third quarter ended Sept. 30 from $1.43 billion a year earlier. IBES data from Refinitiv showed analysts had expected $1.48 billion in revenue.
Fisker Inc – Looking to extend a three session rally after announcing it has secured a long-term battery capacity deal with CATL for the Fisker Ocean SUV. The company said it also remains on target for deliveries of the Ocean to start in November of 2022.
Simon Property Group – Higher after beating earnings estimates. The company’s funds from operations hit $1.18 billion this quarter, beating estimates and blowing away the $723.2 million recorded in the same period last year by over 50 percent. Net income also jumped to $679.9 million, from $145.9 million in the third quarter of 2020. Occupancy for the company’s shopping centers was at 92.8 percent. with base minimum rent per square foot at $53.91.
Chegg Inc – The online education specialists reported third-quarter revenue came in slightly lighter than expectations at $171.9 million, but the bigger miss came in Chegg’s sales forecast, which called for holiday-season — or finals/midterms-season, in Chegg’s case — sales of $194 million to $196 million. Analysts on average expected third-quarter sales of $173.9 million and fourth-quarter revenue of $241.7 million. The company’s CEO also said “It is clear to us the online education industry is experiencing a slowdown.”
Baosheng Media Group – Low float, micro cap premarket runner on no apparent news catalyst, gaining social media attention. 8.8m free float.
Bone Biologics – Micro cap medical device company sharply higher on a Benzinga report suggesting hedge fund Hankey Capital has taken a 69% position in the company. 2.3m free float.
NXT-ID – Monday’s micro cap, low float runner getting attention again today, the software company that focuses on the medical industry has a 7.9m share free float. Call buying volume on the stock yesterday increased more than 1600% over its average.
Artelo Biosciences – Higher for the second straight session after Wainwright starts with ‘buy’ on therapy potential.