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Apple Inc – Back on watch this morning after yesterday’s impressive rally adding more than 1.8% on the session, the company is said to be working on a new 4k version of Apple TV set to debut later this year. CEO Tim Cook also finally revealed iOS 14.5 update will arrive this month. Morgan Stanley Cuts Apple’s Price Target to $156 From $164.
Microsoft Corp – Rallied to fresh all-time highs yesterday extending impressive gains from last week after we learned the company had secured a $21b 10 year contract from the US Army.
Moderna Inc – Announced late yesterday its contracted drug manufacturer Catalent will expand production of MRNA’s covid-19 vaccine. By doubling its current output Catalent will be able to produce 400 vials a minute at its Bloomington IN, plant. Moderna said it will now be able to supply an additional 100m doses to the US by May.
Snap Inc – Shares of the photo-messaging app are higher in the premarket after Atlantic Equities raised the stock to an “overweight” rating from “neutral”. The brokerage says strong momentum for current ad offerings and a pipeline of products could significantly augment revenue for SNAP. The current median street PT on the stock is $75.50.
Facebook Inc – Set to open slightly lower this morning after also putting in a strong rally yesterday. Yesterday there were reports of more than 500 million Facebook users possibly exposed to a data breach with information have been found available on a website for hackers. That information however appears to be several years old, Facebook suffered from several of these occurrences at the end of 2018 and beginning of 2019. The is another example of the vast amount of information collected by Facebook and other social media sites, and the limits to how secure that information is.
Travel Stocks – The group is trading slightly lower this morning after leading yesterday’s rally, we saw cruise operators and airlines all higher between 2%-4% yesterday. Norwegian Cruise Line shares were among the top gainers after it said its planning U.S. trips in July with mandatory vaccination for travelers. Data from the TSA meanwhile continues to show gradual improvement for air travel with the 21, 19 and 7-day avg now in the -30’s% vs -50’% early March of last year. NCLH, CCL, RCL, UAL, DAL, LUV, SAVE, ALK
ViacomCBS Inc – Trading lower in the premarket again and very active this morning on reports from Reuters that Credit Suisse is said to be shopping big blocks of shares of the company again as the Archegos Capital unwind may not be done yet. CS is said to be offering ranges with 34 mln VIAC shares at $41-$42.75 vs $42.90 last sale, 14 mln VIPS shares at $28.50-$29.50 vs $29.78 last sale, 11 mln FTCH shares at $47.50-$49.25 vs $49.69 last sale.
Chembio Diagnostics Inc – Trading lower this morning after yesterday impressive volume, the stock skyrocketed 63.8% on record volume in afternoon trading Monday, in the wake of the point-of-care diagnostics company’s announcement of the commercial launch of its rapid COVID-19/flu test.
Brooklyn Immunotherapeutics – Small cap biotech firm up this morning on volume despite little significant news catalyst on the stock.
Weidai Ltd – Micro-cap Chinese fintech trading higher in the premarket after reporting FY 2020 earnings that were above expectations.