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Pre-Bell|U.S. Stock Futures Jumped Over 1% After the Job Report; This Chinese Meme Stock Surged Nearly 300% in 2 Days

Tiger Newspress2023-01-06

U.S. stock futures jumped Friday after the December jobs report release. Nonfarm payrolls increased by 223,000 for the month, above the Dow Jones estimate for 200,000, while the unemployment rate fell to 3.5%, 0.2 percentage point below the expectation.

Market Snapshot

At 8:50 a.m. ET, Dow e-minis were up 351 points, or 1.06%, S&P 500 e-minis were up 42.25 point, or 1.1%, and Nasdaq 100 e-minis were up 124 points, or 1.15%.

Pre-Market Movers

AMTD Digital Inc.— shares surged 27.75% in pre-market trading after surging around 200% on Thursday. It surged almost 300% in 2 days.

World Wrestling Entertainment — Shares advanced 9.7% after Vince McMahonelected himself executive chairman of the company despite retiring last year due to a sexual misconduct scandal.

Bed Bath & Beyond — The retailer dropped 12.4%, building on the sharp losses seen Thursday, after management said the company islow on cash and considering bankruptcy. KeyBanc dropped its price target to the stock from $2 to 10 cents, citing the concern of bankruptcy and weak fundamentals.

Tesla Motors — Shares fell 6.4% after the electric-vehicle maker lowered prices for its Model 3 and Model Y vehicles in China.

Silvergate Capital – The crypto-focused bank added to its Thursday losses following a downgrade from JPMorgan to neutral from overweight. The firm cited Silvergate’s worse-than-expected deposit outflows and called into question the company’s long-term profitability. Shares dropped 14% premarket, after posting a 42% loss Thursday.

Costco — Shares of the wholesale retailer dipped more than 1% in premarket even after the company reported solid sales number for December. Costco reported net sales of $23.8 billion in December 2022, an increase of 7% year over year.

Lululemon Athletica — The athletic wear maker added 1.8% following an upgrade to overweight from equal weight by Wells Fargo, which cited its momentum and attractive share price. Meanwhile, Ultalost 1.8% after getting downgraded to under weight from equal weight. Bath & Body Works shed 1.7% after the firm moved it to equal weight from overweight.

SunrunSunnova Energy International Inc.First Solar — Shares of the solar companies gained more than 1% each after being upgraded by Wells Fargo to overweight from equal weight. Analysts cited an improved regulatory backdrop in 2023 and long-term tailwinds, including ESG mandates and government and corporate de-carbonization goals.

DiscoverSynchrony— The consumer finance stocks were under pressure after being downgraded by Barclays to equal weight from overweight. Barclays analyst Mark Devries said in a note that these stocks are likely to fall if the economy enters a recession. Discover dipped 1.5% in premarket trading, while Synchrony lost 1.8%.

Market News

Tesla Motors cut prices for all versions of its Model 3 and Model Y vehicles in China by up to 13.5%, according to its Chinese website on Friday, after its December deliveries of China-made cars fell to the lowest point in five months.

Pfizer could part with or distance itself from some of its research programs as it rethinks its approach to early development research in rare diseases and cancer treatments, the company said Thursday.

Qualcomm is looking to leapfrog Apple by offering emergency satellite phone service using Android smartphones, with specific product announcements expected by the middle of the year.

Intel's self-driving tech unit Mobileye Global Inc. said on Thursday (Jan 5) it sees more than US$17 billion in revenues for its advanced driver assistance systems (ADAS) products by 2030.

Bed Bath & Beyond is preparing to seek bankruptcy protection in the coming weeks, people familiar with the matter said, following poor sales and an inability to compete with large online and big-box retailers.

Samsung Electronics Co., Ltd.’s operating profit fell by 69% to 4.3 trillion won ($3.4 billion) for the three months ended December, missing the average estimate of 6.7 trillion won by analysts. Sales fell to 70 trillion won, according to a company statement. Samsung is slated to provide a full financial statement with net income and information on divisional performance on Jan. 31.

Cathie Wood-led ARK Investment Management bought 172,276 shares of cryptocurrency exchange platform Coinbase Global, Inc. at an estimated valuation of over $5.7 million based on Thursday’s closing price.

NIO Inc. is recalling a total of 997 ET5 electric vehicles manufactured between September 7, 2022, and October 10, 2022, according to an announcement on the website of China's State Administration for Market Regulation (SAMR).

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Comment9

  • sunshine138
    ·2023-01-06
    Ok
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  • 来人
    ·2023-01-06
    Ok 
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  • KYBoo
    ·2023-01-06
    Hh
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    • KYBoo
      gg
      2023-01-06
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  • NPC69
    ·2023-01-06
    K
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  • kong1509
    ·2023-01-06
    Ok
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  • ZTPang
    ·2023-01-06
    Gogogo
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  • Andrewinho
    ·2023-01-06
    Don't stop!!! 🚀🚀🚀
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  • Kong06
    ·2023-01-06
    Ok
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  • CIK
    ·2023-01-06
    Very good news [Claw] 
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