| Micron [MU] - Last Close: $96.25
After Wednesday’s close, chip giant Micron reported an unexpected profit and a huge revenue spike on its fiscal Q2 earnings report.
Micron generated EPS of $0.42 after posting a $(1.91) loss a year earlier. Analysts expected a loss of $(0.24) per share.
Revenues jumped 57% to $5.82 billion for the quarter, also beating the consensus of $5.35 billion. Its Q3 guidance also topped expectations.
MU is leading the S&P 500 with a 17.3% gain on over 2 million shares traded.
My Take: MU’s earnings beat could be a catalyst for the entire chip sector. I wouldn’t be surprised if we saw other chipmakers perform well today. In fact, I’m already seeing several chip stocks rising in the premarket.
Lufax Holdings ADS [LU] - Last Close: $3.37
China-based FinTech stock Lufax is rallying after announcing a special dividend as part of its early-morning Q4 earnings release.
Lufax had a dismal quarter, posting sales and EPS that fell well below Wall Street’s estimates, but the special dividend is still boosting the stock.
LU will pay a special dividend of $2.42 for each ADS, subject to approval by shareholders at its upcoming May 30th general meeting.
LU is up 45.0% on more than 8 million shares traded.
My Take: LU had a weak quarter but the special dividend announcement is saving the stock right now. However, the dividend still hasn’t been approved, so take this news with a grain of salt.
Asset Entities [ASST] - Last Close: $0.5050
A newly-announced agreement with Zendrop is rallying shares of Asset Entities in today’s premarket.
Under the arrangement, the company will provide Zendrop with services through its Ternary SaaS platform for payment processing and Stripe Verified Partner for Discord communities.
Financial terms of the arrangement weren’t disclosed.
ASST is up 75.0% on over 11 million shares traded.
My Take: I’m not sure why ASST is reacting so strongly to this news. Maybe there’s more to the story but I am not seeing it at the moment.
CuriosityStream [CURI] - Last Close: $0.5815
This documentary-focused streaming service provider is rallying after publishing strong Q4 earnings results this morning.
CuriosityStream’s $14.8 revenue figure missed the $15.8 million consensus, but it saw its gross profit jump to $6.7 million from $1.4 million a year ago.
It also posted a thinner-than-expected loss of $(0.09) per share, against the Wall Street consensus of $(0.15) per share.
The company also announced a new quarterly cash dividend of $ 0.025 per share that will payout on April 30th to shareholders of record on April 12th.
CURI is up 40.1% on over 3 million shares traded.
My Take: CURI is showing signs of progress, and it plans to make the dividend a regular thing. This catalyst could help the stock extend its recent up-swing.
Gainers
Kaival Brands [KAVL] >> +65.4%
Cullman Bancorp [CULL] >> +28.0%
Blue Ocean SPAC [BOCN] >> +27.6%
Decliners
Movella [MVLA] >> (56.3%)
Tourmaline Bio [TRML] >> (33.9%)
Waldencast [WALD] >> (21.4%) Accenture [ACN] ... AMDarden Restaurants [DRI] ... AMFactSet Research Systems [FDS] ... AMAcademy Sports And Outdoors [ASO] ... AMWinnebago Industries [WGO] ... AMLufax Holding [LU] ... AMNike [NKE] ... PMFedEx [FDX] ... PMLululemon Athletica [LULU] ... PMAAR [AIR] ... PM Initial jobless claims [Mar] ... 8:30aPhiladelphia Fed manufacturing survey [Mar] ... 8:30aS&P flash U.S. services PMI [Mar] ... 9:45aS&P flash U.S. manufacturing PMI [Mar] ... 9:45aU.S. leading economic indicators [Feb] ... 10:00aExisting home sales [Feb] ... 10:00a | 