• Deutsche Bank analyst ReenaVerma Bhasin initiated coverage of Grab Holdings with a Buy rating and $3.20 price target. Grab is Southeast Asia's leading "superapp" platform, with a dominant position in mobility and deliveries, and a developing business in digital financial services, Bhasin tells investors in a research note. The stock offers "attractive upside potential" after dropping 65% year-to-date, says the analyst. Bhasin expects strong growth in mobility and says the deliveries business is also targeted to break even over next 12 months.
• Li Auto officially unveiled the L9, the company's second model after the Li ONE SUV, at a launch event on the evening of June 21 Beijing time, continuing with the extended-range technology of its predecessor. The Li L9 is priced at a flat price like the Li ONE at RMB 459,800 ($68,650), though it's RMB 110,000 higher than the Li ONE's RMB 349,800. Li Auto offers only three premium colors and a paid option package for power pedals, all priced at RMB 10,000.
• Moderna's COVID-19 variant vaccine will be ready to ship in August as the company has been making shots ahead of approval, Chief Executive Stephane Bancel told Reuters on Wednesday, adding that the only bottleneck to supply was a regulatory one. "Our goal is as early as August given we're going to file all the data in June, by the end of June... hopefully in the August timeframe, the vaccine is authorised," Bancel said in an interview.
• Analysts expect KB Home to report quarterly earnings at $2.01 per share on revenue of $1.63 billion after the closing bell. KB Home shares gained 0.4% to $25.72 in after-hours trading.
• La-Z-Boy Incorporated reported upbeat results for its fourth quarter and issued strong sales forecast for the first quarter. La-Z-Boy shares climbed 10.4% to $25.10 in the after-hours trading session.