#premarket-trading

#premarket-trading

Featured Speaker Alex Thorn

Head of Firmwide Research Galaxy




Hear Alex Thorn share his take on "Bitcoin and Inflation: It's Complicated" at Consensus 2023.MicroStrategy (MSTR) is uniquely positioned among listed companies to benefit from an increase in the price of bitcoin (BTC), Berenberg said in a report Thursday.

Apple (NASDAQ: AAPL) shares slipped fractionally in premarket trading on Thursday as investment firm Needham cut its revenue and earnings estimates for 2023, citing "weak iPhone demand" in China, while highlighting a new potential platform that could boost its advertising revenue.Analyst Laura Martin, who has a buy rating and $171 price target on Apple ( AAPL), now expects 2% revenue growth to $403.1B and $6.07 per share in earnings, down from 2% and 4% from previous estimates, citing not only concerns about the iPhone in China, but the weakening global economy, supply-chain shortages and growing geopolitical pressures between the U.S. and China.

Cal-Maine Foods, the largest egg producer in the United States, reported revenue doubled and profit surged 718% last quarter because of sharply higher egg prices.The company, which controls about 20% of the US egg market according to Reuters, said its average selling price for a dozen eggs in the quarter ending February 25 was $3.30, more than double the average of $1.61 a year earlier.

Markets in Europe and Asia tumbled Friday following a sharp selloff in banking stocks in the United States as a major tech lender said it had to sell shares to plug a hole in its finances.SVB Financial Group (SIVB), which is partnered with nearly half of all venture-backed tech and health care companies in the United States, was forced to raise capital after it sold part of its portfolio of US Treasuries at a loss to cover a rapid decline in customer deposits.

SVB Financial Group's announcement that it needed to sell billions of dollars of assets to make its customers whole continued to send Wall Street into panic mode.Shares of SVB (SIVB) were halted Friday morning after falling more than 60% in premarket trading.The stock tumbled 60% Thursday.SVB, a relatively unknown bank outside of Silicon Valley, lends to higher-risk tech startups that are struggling as interest rates rise and venture capital money dries up.

Uber on Tuesday reported revenue growth exceeding expectations from Wall Street, suggesting that the company has continued to recover from a pandemic slump as drivers return to the platform.But it posted a net loss, in part because of its investments in other ride-hailing companies.Revenue was $8.34 billion for the third quarter, a 72 percent increase from a year earlier.

Uber on Tuesday reported revenue growth exceeding expectations from Wall Street, suggesting that the company has continued to recover from a pandemic slump as drivers return to the platform.But it posted a net loss, in part because of its investments in other ride-hailing companies.Revenue was $8.34 billion for the third quarter, a 72 percent increase from a year earlier.