Baidu Inc – Shares were up as much as 6% in the premarket after China’s search engine giant confirmed it will set up a company to partner with car maker Zhejiang Geely Holding Group to make smart electric vehicles (EV), the latest move by a tech company in the fast-evolving sector. Baidu, which has been developing autonomous driving technology and internet connectivity infrastructure, said the new EV company will count on Baidu’s intelligent driving capabilities and Geely’s car manufacturing expertise.
Nio Inc – JP Morgan increased its PT on the stock this morning to $75 from $50, following a successful “Nio Day” over the weekend the company’s chief executive said Monday the electric vehicle maker Nio Inc, which competes with conventional premium automakers including Daimler AG and BMW, may consider entering the mass product market under another marque. The statement said that as EV technologies advance and battery cost lowers, it is possible that NIO may enter the massive market, but definitely not under the Nio brand.
Nvidia Corp. – Nio also announced over the weekend it has chosen to use Nvidia’s Orin system-on-a-chip for its new generation of electric and autonomous vehicles. At the company’s NIO Day event, the company revealed its ET7 sedan and the NVIDIA DRIVE Orin-powered supercomputer, dubbed Adam, which will first appear in the vehicle that will ship in China starting in 2022. NVIDIA Orin is called the world’s highest-performance AV and robotics processor. The scalable supercomputer-on-a-chip family delivers an unprecedented 254 trillions of operations per second while also being able to scale down to entry-level ADAS/Level 2 use case.
Twitter Inc – Shares are trading sharply lower in the premarket and set for a fifth straight session of losses, Twitter said on Friday it has permanently suspended U.S. President Donald Trump’s account due to the risk of further incitement of violence following the storming of the U.S. Capitol.
Tesla Inc – Trading lower in the premarket for the first time in 11 sessions, Bank of America raised its current PT on the stock to $900 from $500 this morning. No additional significant news this morning but with the stock this extended most analysts are expecting profit taking at some point.
Gilead Sciences Inc – Trading up more than 2% on increased volume this morning, the company raised its 2020 profit forecast as recent resurgence in coronavirus cases boosted demand for its COVID-19 treatment, remdesivir. The antiviral was one of the drugs used to treat U.S. President Donald Trump’s coronavirus infection, experts say U.S. should expect another surge in COVID-19 cases in mid-Jan due to holiday gatherings.
Blockchain Stocks – The group is set to open sharply lower along with Bitcoin this morning, from a high near $42000 to just above $34k the decline comes as the US dollar strengthens and easing political uncertainty in Washington. The drop is by far the biggest this year and since the Coronavirus caused a cross-asset crash in March 2020, but was widely predicted by analysts. RIOT, MARA, BTBT, GBTC, WBAI
Eli Lilly and Co – The drugmaker’s shares were up as much as 17.1% premarket, the co’s mid-stage trial of its experimental Alzheimer’s drug donanemab has shown it slowed decline of cognition and function in patients with early-stage symptoms of the disease.
LM Funding America Inc – Announced that LMF Acquisition Opportunities, Inc., a special purpose acquisition company and an indirect subsidiary of the Company, filed with the Securities and Exchange Commission in connection with a proposed initial public offering of its units. LMF Acquisition intends to search for a target in the financial services industry, including potentially the financial technology (FinTech) sector, and related sectors. The proposed public offering is expected to have a base offering size of $75 million.
Mesoblast – Australian based drug maker announced that a single dose of its drug rexlemestrocel-L provides a reduction in heart attacks, strokes and cardiac death in patients with chronic heart failure. The results come from its landmark, randomised controlled phase 3 trial with 537 patients. Of the patients, who all had chronic heart failure, some received rexlemestrocel-L and others received a control sham. The study found that a single dose of the drug resulted in a substantial and durable reduction in heart attacks.
Aileron Therapeutics Inc – Completed $35.9m registered offering, announced plans to initiate a new randomized controlled phase 1B trial for leading drug candidate in Q2.