| Adobe [ADBE] - Last Close: $490.91 A strong earnings report is lifting shares of Adobe. Late Thursday, the software designer released its fiscal Q2 results, and investors are cheering the results. Adobe reported non-GAAP EPS of $3.91 per share, marking a 16% increase from last year, and beat the consensus of $3.79. Revenues grew 9.7% from last year to $4.82 billion in fiscal Q2, which also beat analysts' $4.77 billion estimates by a healthy margin. Adobe's fiscal 2023 earnings guidance also outpaced the Street's expectations. ADBE is leading the S&P 500 with a 4.4% gain on the heels of the strong earnings report. My Take: ADBE is just killing it. Share prices broke through a key resistance point last month and, although the rally is beginning to look over-extended, there's no telling where the gains will stop for the stock. Virgin Galactic [SPCE] - Last Close: $4.06 Buckle up and prepare for lift-off. The space tourism era is officially here. Late Thursday, Richard Branson's Virgin Galactic announced it will launch (no pun intended) its much-anticipated commercial spaceflight service later this month. The company said the first spaceflight, called "Galactic 01", will take off between June 27th and 30th. Another flight, Galactic 02, is planned for August, and the company says it will plan to make monthly flights from thereafter. SPCE is up 39.1% on elevated premarket trading volume. My Take: I wasn't sure this day would ever come, but it looks like Branson might just pull it off. This could be a big catalyst for SPCE, so I'll be keeping my eye on this stock. VCI Global [VCIG] - Last Close: $2.40 VCI Global is climbing higher after announcing a potential partnership. This morning, the business technology firm said it negotiating an exclusive partnership with Fusionex Group. VCI Global plans to offer its AI and big data consulting services to its customers, and it has selected Fusionex as a key technology partner. Specifically, the company wants to leverage Fusionex's Analytics GIANT to deliver enhanced value and strategic guidance to its clients.
Financial details of the partnership weren't disclosed, but shares of VCIG are up 33.3% on the news.
My Take: Anytime you mention AI, a stock jumps 30% these days. I'm not sure if this is the real deal, but, if VCIG really launches its AI service, there could be another pop in its future. Surface Oncology [SURF] - Last Close: $0.74 A newly announced acquisition deal is boosting shares of Surface Oncology. This morning, the biotech announced it has agreed to a $65 million stock-for-stock merger deal with Coherus BioSciences [CHRS]. Under the terms of the agreement, Coherus will issue common stock at $5.2831 per share and acquire all outstanding shares of SURF. SURF shareholders will also receive an extensive collection of contingent value rights based on commercial milestones for several drugs. Both companies have approved the deal, and they expect to close sometime in Q3. SURF is up 39.1% on news of the merger deal. My Take: This is a bit of an unusual arrangement. I am not sure exactly what SURF shareholders are getting, but the market seems to like the deal well enough. GainersJE Cleantech [JCSE] >> +24.8%iRobot Corp [IRBT] >> +22.5%Humanigen [HGEN] >> +22.5%FingerMotion [FNGR] >> +20.7%DeclinersApplied UV [AUVI] >> (52.6%) Edtechx Holdings [EDTXU] >> (28.9%)Panbela Therapeutics [PBLA] >> (19.9%)Clene [CLNN] >> (20.9%) Naas Technology Inc. Dr [NAAS] ... AM Fed Gov. Christopher Waller speaks ... 7:45a Consumer sentiment ... 10:00a | 