Morning Movers
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Banks – Higher as a group in early trading after closing lower along with the overall market Wednesday. Most were higher initially after Minutes of the Fed’s December meeting, published on Wednesday, hinted the U.S. central bank might begin shrinking asset holdings and also raise rates as early as March, much sooner than analysts initially thought. A higher interest rate typically boosts banks, which make money on the difference between the interest paid out on deposits and earned on loans. WFC, MS, BAC, GS, JPM

GM.NY 0.88%
General Motors Co – Higher after BofA increased its PT on the stock to $100 from $85. Said yesterday it will launch an electric version of its Chevrolet Silverado pickup truck in 2023 to rival Ford Motor Co, Rivian Automotive Inc and Tesla’s TSLA.O upcoming Cybertruck. Electric Silverado will launch in two stages, with a $39,900 WT work truck for a limited group of commercial fleets and a consumer, outdoor adventure-oriented model starting at $105,000.

F.NY 0.21%
Ford Motor Co – Closed lower for the first time in three sessions yesterday, BofA also increasing its PT on F stock to $30 from $26.

WBA.NQ 2.59%
Walgreens Boots Alliance – raised its full-year adjusted profit growth forecast and beat first-quarter earnings estimates on Thursday, as the U.S. pharmacy major bets on sustained demand for COVID-19 vaccinations and testing. Net income attributable to Walgreens was $3.58 billion, or $4.13 per share compared to a loss of $308 million, or 36 cents per share, a year earlier, largely due to a one-time charge of $1.5 billion. The company increased its full-year adjusted profit forecast to low-single digit growth, from flat previously.

DDOG.NQ 1.70%
DataDog Inc – Higher after announcing a global strategic partnership with Amazon Web Services, Inc. (AWS). As part of this collaboration, AWS and Datadog will work together to develop and deliver tighter product alignment in the future. The company said the tighter alignment will enhance customers’ visibility into their cloud infrastructure as well as deepen security. “This strategic collaboration will open up joint marketing and co-selling programs between Datadog and AWS that will bring new opportunities for customers across the globe” says Matt Garman, senior vice president of sales and marketing at AWS”

BBBY.NQ 4.60%
Bed Bath & Beyond – Lower after reporting EPS that missed by $0.25, also missed on revenue estimates in latest quarter. The company pointed to a lack of inventory due to supply chain bottlenecks that cost Bed Bath & Beyond about $100 million in the quarter with the issues escalating during December.

FRLN.NQ 57.65%
Freeline Therapeutics – Announced that the U.S. Food and Drug Administration (FDA) has cleared its Investigational New Drug (IND) application for FLT201 as an investigational gene therapy for the treatment of Gaucher disease Type 1.

PSTV.NQ 10.08%
Plus Therapeutics – Company says it has entered into licensing agreement with The University of Texas Health Science Center to develop cancer therapies.

NKLA.NQ 3.44%
Nikolola Corp – Freight and shipping firm Saia has signed a letter of intent to purchase 100 zero-emission trucks with the initial 25 deliveries set to happen between 2022 and 2024.

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