Morning Movers
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BBBY.NQ 76.51%
Bed Bath and Beyond – 25% short interest, rally after The Wall Street Journal reported that the billionaire co-founder of online pet-products retailer Chewy Inc. has built a 9.8% stake in the housewares retailer and is pushing the company to streamline its strategy and explore strategic alternatives. In a statement the company said “Bed Bath & Beyond’s Board and management team maintain a consistent dialogue with our shareholders and, while we have had no prior contact with RC Ventures, we will carefully review their letter and hope to engage constructively around the ideas they have put forth.”

Oil Stocks – Rallying for an 8th straight session along with crude prices, WTI touched its highest level since 2008 overnight and is holding a 6% premarket gap this morning, US Secretary of State Antony Blinken said Sunday that the U.S. and its allies are considering banning Russian oil and natural gas imports in response to the country’s attack on Ukraine. OXY, XOM, CVX, MRO, DVN

UBER.NY 2.41%
Uber Technologies – Raised its first-quarter profitability guidance on Monday, saying its mobility business was improving faster than expected, while customers continued ordering food deliveries at record numbers in February. Uber said in a filing it now expected adjusted earnings before interest, taxes, depreciation and amortization of $130 million to $150 million in the first three months of the year, up from $100 million to $130 million it previously projected.

Banks – Reversing early weakness on possible positive momentum in talks between Russian negotiators and Ukraine, US10YR bouncing off 1.70% support from last week ahead of CPI data before the open Thursday and the Fed meeting next week. JPM, GS, WFC, MS, BAC

TSLA.NQ 0.57%
Tesla Inc – Among the first moving red to green premarket showing relative strength after a choppy session Friday. The stock was under pressure Thursday and Friday on reports suggesting it’s Berlin gigafactory is still facing ramp up delays.

Chip Stocks – Remain under pressure for the third straight session of fears of further shortages in the space due to the Russian/Ukraine conflict. Russia is a major producer of key materials used in the production of semiconductors, current global sanctions against the country could create further delays in production. AMD, NVDA, INTC, MU, AMAT

Travel Stocks – Remain on watch after back-to-back sharp declines into the weekend on continued global uncertainty and skyrocketing fuel costs. Multiple negative analysts moves ounce again on the group. UAL, AAL, DAL, LUV, SAVE, RCL, CCL, NCLH

Small Cap Oil – Large group of low float, small to micro cap oil stocks up huge and actively traded on the move in crude this morning, HUSA, NINE, IMPP, MARPS, IO, MXC, USEG, INDO

BCEL.NQ -21.73%
Altreca Inc – Sharply lower after a monster move into the close on Friday following better than expected earnings earlier in the week from the small cap biotech.

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