Morning Movers
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FB.NQ 1.12%
Facebook Inc – Trading higher premarket after leading the tech slide Monday, the stock was under pressure following the biggest service outage in 13 years for its platforms, in a statement, Facebook said the problem had been caused by a configuration change to the “backbone routers” that coordinate traffic between the firm’s data centres. This caused the cascading effect which brought the company’s various services down. Adding to the declines was the whistle blower report Sunday on 60 minutes that made multiple negative allegations against the company.

Crypto Stocks – Moving higher along with BTC and ETH prices this morning, BTC traded above $50k for the first time in a month. The latest move also pushed bitcoin’s market capitalisation back to nearly $1 trillion, other leading cryptocurrencies have also experienced significant gains in recent days, with Ethereum (ether), Binance Coin, Solana (SOL), Ripple (XRP) and dogecoin all rising by between 15-30 per cent since the start of October. Bitcoin still remains more than $10,000 away from its all-time high of $64,000. BTBT, MARA, HUT, MSTR, SOS, SI, COIN

Energy Stocks – Oil prices touched their highest level since November of 2014 in early trading up another 1.2% and have now added 28% since August lows. OPEC continues to maintain its schedule for lifting production despite continued efforts from global governments for an ease. Energy stocks as a group rallying for the fourth straight session premarket along with crude prices. XOM, CVX, COP, OXY, DVN

LULU.NQ 1.19%
Lululemon Athletica Inc – Higher on light volume after announcing an increase to the company’s current share buyback program, LULU said after the close yesterday its board approved a $500 million increase to its stock repurchase program on Oct. 1.

PEP.NQ 1.19%
PepsiCo Inc – Raised its full-year forecast after its quarterly earnings and revenue topped analysts’ expectations. The company’s organic revenue climbed 9% in the quarter. But growth of Pepsi’s North American beverage unit moderated during the quarter. PEP also said supply chain disruptions and inflationary pressure for labor, commodities and transportation weighed on its fiscal third-quarter results.

XENE.NQ 1.49%
Xenon Pharmaceuticals – Shares in the drug developer are looking to extend Monday’s impressive rally that saw the shares more than double after the Canadian company published strong efficacy results for its epilepsy drug, making it the latest in a string of domestic biotechs to surpass the US$1-billion valuation mark.

OCGN.NQ 11.11%
Ocugen Inc – Said it entered into exclusive development and commerical supply agreement with its Indian partner Bharat Biotech International for Covaxin, a COVID-19 candidate vaccine it is co-developing for U.S. and Canadian markets.

MARPS.NQ 56.18%
Marine Petroleum Trust – Nano cap oil and gas explorer up on no news, $10m market cap, 1.1m share free float.

RIDE.NQ -8.21%
Lordstown Motors Corp – Morgan Stanley lowers to “Underweight” calls it a $2 stock.

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