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SNOW.NY -19.34%
Snowflake Inc – Lower after saying it now expects product revenue for fiscal 2023 to grow between 65% and 67%, lower than 2022’s 106%. SNOW reported Q4 total revenue of $383.8 mln, beating analysts’ average estimate of $372.6 mln. The company announced it has acquired Streamlit, a firm which helps developers create data apps from Python; financial terms of deal were not disclosed.

BBY.NY 7.33%
Best Buy Co – Forecast downbeat full-year revenue and fell short of holiday quarter sales estimates. Shortages in appliances, mobile phones and gaming consoles due to a global lack of semiconductor chips and supply-chain bottlenecks have crimped Best Buy’s sales in the closing months of last year. The company’s CEO said “Q4 sales of $16.4 billion were impacted by more constrained inventory than expected, including some high-demand holiday items, and the temporary reduction in store hours in January due to Omicron-induced staffing challenges. A big beneficiary from pandemic-era home-working, the company said it expects full-year revenue of $49.3 billion to $50.8 billion, while analysts on average had estimated $51.05 billion, according to IBES data from Refinitiv.

TSLA.NQ -0.47%
Tesla Inc – The German state of Brandenburg has called a news conference for Friday at which it will announce its decision on approval for the planned Tesla gigafactory near Berlin. Earlier, Handelsblatt reported that Tesla had won final approval from the Brandenburg state environment office for its gigafactory.

F.NY 1.44%
Ford Motor Co – Back on watch higher for the second straight session, the company announced Wednesday it will go ahead with plans to separate its ICE business with its EV business.

RIVN.NQ 1.66%
Rivian Automotive – Trying to bounce in early trading after yesterday’s sell off, RIVN announced it would increase prices for all model options of its R1T electric pickup by 20% on Wednesday.

Oil Stocks – Another multi-year high for crude oil overnight as the Russian/Ukraine conflict continues to put supply concerns on energy markets and has triggered a dash for commodities that could be in short supply. Brent crude oil rose more than 5% closing in on $120 per barrel before settling at $114. That still leaves it up nearly 20% since last Thursday. WTI meanwhile topped out above $114/barrel in early trading Thursday but has pulled back slightly also up more than 20% on the week. OXY, CVX, XOM, MRO, DVN, COP

Bank Stocks – Back under pressure as a group after a relief rally yesterday, multiple downgrades in the sector this morning. Keef, Bruyette & Woods and KBW with downgrades on C stock to “’Market Perform”. C, JPM, GS, WFC, BAC

IMPP.NQ 15.05%
Imperial Petroleum – Micro cap energy stock continues its impressive rally along with crude prices. 13m share free float, $29m market cap.

INDO.AM 40.07%
Indonesia Energy – Micro cap energy stock continues its impressive rally along with crude prices. 1.5m shares free float, $107m market cap.

CAN.NQ 17.74%
Canaan Inc – AI focused software company with crypto ties up on better than expected earnings.

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