Morning Movers
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CHINESEEV.STOCKS -2.46%
Chinese EV Makers – Under pressure this morning on disappointing monthly delivery numbers as covid related lockdowns in China hurt demand. NIO reported 5074 deliveries for the month a 50% decline MoM. XPEV meanwhile reported 9002 a 75% increase YoY but still down sharply MoM. Li Auto was the hardest hit by the lockdowns reporting 4167 deliveries for the month down 62% from March. LI, NIO, XPEV

AAPL.NQ -0.79%
Apple Inc – Active again premarket showing relative weakness after Friday’s tumble, the company has been hit with another EU antitrust charge over its payment technology. EU antitrust regulators charged Apple with restricting rivals’ access to its NFC chip technology in a move that could result in a hefty fine for the iPhone maker and force it to open its mobile payment system to competitors.

CHIP.STOCKS -0.55%
Chip Stocks – Among the leaders to the downside in Friday’s sell off, INTC in focus after International semiconductor consortium ISMC said it will invest $3 billion in India’s southern Karnataka state to set up a chip-making plant, the state government said on Sunday. ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor. U.S. chip giant Intel Corp has announced plans to acquire Tower. India’s first semiconductor fabrication unit is expected to generate more than 1,500 direct jobs and 10,000 indirect jobs, the state’s investment promotion division said in a tweet. QCOM and Volkswagen meanwhile have reportedly set up a years-long partnership with US chip to develop automated driving technology, with the contract set to run until 2031. AMD, NVDA, INTC, MU, AMAT, QCOM

CHINESE.STOCKS -2.21%
Chinese TECH – Back on watch after Friday’s gap higher that followed news regulators in that country plan to ease their ongoing crackdown on the once-freewheeling tech sector on Friday as President Xi Jinping seeks to bolster the economy in the face of growth-sapping COVID-19 lockdowns, sending shares in online heavyweights surging. China’s powerful Politburo, in a meeting chaired by Xi, said it will step up policy support for the world’s second-largest economy, including its so-called “platform economy”, fueling investor hopes that the worst may be over for an unprecedented, multi-pronged crackdown that began in late 2020. BABA, JD, PDD, BIDU, BILI

TSLA.NQ -1.94%
Tesla Inc – Trading lower to start following three straight volatile sessions to end last week, the moves followed news that CEO Elon Musk had sold $8.5b worth of TSLA shares to help fund his acquisition of Twitter Inc. Also under pressure from Chinese delivery number, the company typically reports its own a few days following.

HOOD.NQ -0.76%
Robinhood Markets – Back on watch after Friday’s, post earnings rally, on the weekend Berkshire Hathaway’s vice-chairman Charles Munger said the retail broker, which is trading near a record low, was getting its comeuppance. After a peak in 2020 in trading volumes, Robinhood posted a 43% fall in first-quarter revenue earlier this month as transaction volumes declined across asset classes amid poor performance of shares.

SOUN.NQ 63.23%
SoundHound AI – US-based technology company that provides custom artificial intelligence (AI) solutions based on sound search, has merged with Archimedes Tech SPAC Partners co, a blank-check firm in a deal that values the voice assistant maker at USD2.1 billion. The deal with Archimedes Tech SPAC Partners Co will provide SoundHound with proceeds of USD244 million, consisting of a USD111 million private placement in public equity and about USD133 million from the special purpose acquisition companies (SPAC) IPO, assuming no redemptions.

INVZ.NQ 27.97%
Innoviz Technologies – A leading provider of high-performance LiDAR sensors and perception software, announced today that one of the largest vehicle manufacturers in the world has selected Innoviz to become its direct LiDAR supplier across multiple brands. The selection, which is Innoviz’s third major design win, follows more than two years of extensive diligence and qualification, and will increase Innoviz’s forward-looking order book by $4 billion to $6.6 billion.

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