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BABA.NY -3.86%
Alibaba Group – Shares are tumbling premarket after China’s securities regulator said it had not yet conducted any assessment regarding a revival of Ant Group’s IPO, the comments follow an earlier Bloomberg report that suggested the regulator was open to riving the IPO. Hopes of China easing its crackdown on tech and online firms got a boost earlier this week from a report that said Chinese regulators were concluding probes into ride-hailing giant Didi Global Inc DIDI.N and two other firms. In a third twist, Reuters later reported China’s leadership had given the nod for ANT to proceed with the IPO.

NIO.NY -5.35%
NIO Inc – Lower after the China-based electric vehicle maker reported a narrower-than-expected first-quarter loss and revenue that topped expectations, but a sharp contraction in gross margin and a downbeat outlook due to volatilities in the supply chain and vehicle delivery challenges resulting from the recent COVID-19 resurgence. Deliveries reached a quarterly record of 25,768 vehicles. Gross margin contracted to 14.6% from 19.5%, amid lower average selling prices due to changes in product mix, increased investment in power and service network and higher battery costs.

TSLA.NQ 3.18%
Tesla Inc – Up sharply after the China Passenger Car Association reported the company sold 32,165 China-made vehicles in May, including 22,340 for export. That compares with 1,152 vehicles sold and none exported in April. The Tesla factory halted work for 22 days beginning late March to comply with a city-wide lockdown in Shanghai. UBS with an upgrade to “BUY” pointing to a possible 50% increase in value.

META.NQ 0.34%
Meta Platforms – Facebook’s parent is set to begin trading under its new symbol “META” after The world’s biggest social media network changed its name last year to Meta Platforms from Facebook to reflect its push into the so-called “metaverse”, a shared virtual environment that it bets will be the successor to the mobile internet.

BILI.NQ -11.92%
Bilibili Inc – Shares of the Chinese e-commerce company are lower to start this morning after it reported its slowest quarterly revenue growth since going public in 2018; total net revenue in the quarter ended March 31 rose 30% to 5.05 billion yuan. BILI said its net loss widened to 2.28 billion yuan ($360.3 million)from 904.9 million yuan in the same period of 2021 as total operating expenses grew 42%. BILI says it faced operational impact from lockdown in Shanghai, where it is headquartered, the company sees second-quarter net revenue between 4.85 billion yuan and 4.95 billion yuan.

AAPL.NQ 0.38%
Apple Inc – Back on watch trading higher premarket, late Wednesday the company said it plans to fund loans for its forthcoming Apple Pay Later service off its corporate balance sheet. Apple said its treasury department will decide the exact mechanism it will use to fund the loans and funding sources may shift over time. Loans and creditworthiness decisions will be handled by a wholly owned subsidiary, Apple Financing LLC. Apple announced the pay-later service this week, offering to split purchases up into four equal payments over six weeks. The service will launch later this year along with Apple’s latest operating systems for iPhones and iPads and will put it into competition with existing buy-now, pay-later firms such as Affirm Holdings Inc and Block Inc’s Afterpay.

NVAX.NQ -6.21%
Novavax Inc – Lower on a CNBC report that the U.S. FDA may delay a decision to authorize co’s COVID-19 shots to review changes to its manufacturing process. An FDA panel of advisers on Tuesday voted to recommend that FDA authorize the shots for adults.

BJDX.NQ 33.33%
Bluejay Diagnostics – Higher after reporting the FDA had agreed to consider its plan to pursue a De Novo Regulatory Pathway for its Symphony IL-6 Test.

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