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Match Group Inc – Tinder parent set to open at its highest level in more than 17 months, S&P Dow Jones Indices said on Friday MTCH will join the S&P 500, replacing Perrigo Company Plc.
Spotify Technology – Set to add to last week’s rally following multiple positive mentions and PT increases from analysts. KeyBanc Capital Markets is the latest to upgrade SPOT to “overweight” from “sector weight” on favorable industry trends as monthly active users (MAUs) seem back on track. Brokerage says SPOT appears to be growing faster than YouTube Premium and has favorable ranking among apps. Adds that possible changes to Apple Inc’s AAPL.O App Store policies could benefit SPOT’s distribution among older demographics.
Chinese Stocks – Higher as a group premarket led by PDD shares coming off mostly positive performances last week. JD.com on watch after it said founder Richard Liu will follow a number of high-profile Chinese CEOs in stepping back from operations at the firms as the government tightens its grip on the economy BEIJING. PDD, JD, BIDU, BABA, GOTU, DIDI, TME
NIO Inc – Announced plans to launch a second sedan, the ET5, While strong deliveries aided top-line growth of NIO, Li Auto, and XPeng, escalating operating expenses as well as cost of sales resulted in net loss for the firms in second-quarter 2021. NIO’s loss per American depositary share (ADS) narrowed to 7 cents a share from 16 cents incurred in the second quarter of 2020. Revenues jumped 127.2% year over year to $1,308.4 million on robust deliveries of 21,896 units, which surged 111.9%. Meanwhile, R&D and SG&A costs surged 62.1% and 59.9%.
Cassava Sciences – Among the most active premarket for the second straight session the company said on Friday that recent allegations of fraud were “false and misleading” and were a result of investor interests to drive down the price of the biotechnology company’s stock. Cassava’s stock SAVA, plunged 50.5% over the past three days of last week, after New York-based law firm Labaton Sucharow filed a Citizen Petition on behalf of clients, requesting the Food and Drug Administration halt clinical studies of Cassava’s simufilam, given “multiple reasons to question the quality and integrity” of the company’s research.
Novavax Inc – Higher in early trading after Japan’s Takeda Pharmaceutical said the Japanese government will purchase 150 mln doses of the COVID-19 vaccine it will produce using NVAX formula. Novavax is licensing and transferring manufacturing technologies to enable Takeda to manufacture vaccine.
Adaptimmune Therapeutics – Enters into a Strategic Collaboration with Genentech to Research, Develop, and Commercialize Cancer-targeted Allogeneic T-cell Therapies.
RenovoRX – Recent high flyer announced it has received new 510(k) clearance for its RenovoCath® Delivery System Designed for Targeted Treatment of Solid Tumors.
IronNet – Recent SPAC conversion, Russian steel company with no apparent news catalyst.
Mechel Pao – Small cap Russian steel company also rallying pre market with little or news catalyst.