| Rivian [RIVN] - Last Close: $13.86 Rivian is getting a boost from its premarket earnings report. The EV company beat the Street's estimates for earnings and revenues in Q1 and it produced a noteworthy increase in vehicle production and delivery. Rivian generated quarterly revenues of $661 million, topping the consensus of $652 million. Operating losses of $(1.25) per share also beat analysts' $(1.59) estimate. The Amazon-backed EV maker reported produce 9,395 vehicles and 7,946 deliveries. It currently has $12 billion in cash on hand. RIVN is leading the Nasdaq-100 with a 6.5% premarket gain. My Take: RIVN is an EV company that appears to be actually selling and delivering EVs. Shocking! Share prices are well off their 52-week highs, so this could be a swing trade candidate with great potential upside. Upstart [UPST] - Last Close: $14.09 A strong earnings report is also lifting shares of Upstart. The cloud-based AI stock released its Q1 earnings after Tuesday's closing bell, and the market is cheering the results. Upstart's Q1 adjusted loss narrowed to $(0.47) per diluted share, down from $(0.61) a year ago. Analysts expected a $(0.81) per share loss. Revenues of $102.9 million were down substantially from last year's $310.1 million figure, but beat the consensus of $99.8 million. Upstart's Q2 guidance also surpassed the market's expectations. UPST is one of today's top movers with a 37.5% gain. My Take: UPST's report topped expectations, but that drastic slowdown in revenues is concerning. However, if shares prices can break through $15, the stock could find new support at that price point. CTI BioPharma [CTIC] - Last Close: $4.82 CTI Bio is rallying after a huge merger announcement. This morning, the biopharma firm announced it has agreed to be acquired by Swedish Orphan Biovitrum, aka Sobi, in a $1.7 billion deal. Under the terms of the agreement, CTIC shareholders will receive $9.10 per share in an all-cash transaction, a 89% premium to its Tuesday closing price. The deal values the company at approximately $1.7 billion, and it has been unanimously approved by both companies' boards. Subject to shareholder vote and other closing conditions, the deal is expected to close in Q3. CTIC is up 84.2% in the premarket, and it's one of the morning's most actively traded stocks. My Take: Good deal for CTIC shareholders, but you missed the boat if you don't already own this one. Addex Therapeutics [ADXN] - Last Close: $0.7466 Addex Therapeutics is moving higher after a clinical update. This morning, the development-stage biotech reported an independent review panel recommended it continue a Phase 2 trial of ADX71149 for epilepsy. The independent review committee made their decision following a review of unblinded data from Part 1 of Cohort 1. Addex is co-developing the drug with Johnson & Johnson's [JNJ] Janssen Pharmaceuticals subsidiary, and it could see €109 million in milestone payments if the drug is approved. ADXN is up 46.0% on active trading volume in today's premarket. My Take:ADXN could see a big pop if this drug makes it through clinical trials successfully, but it could take months or even years for the potential catalyst to come to fruition. GainersUnique Fabricating [UFAB] >> +92.1%Sharps Technology [STSS] >> +35.6%Zerofox Holdings [ZFOX] >> +26.9%Alto Ingredients [ALTO] >> 22.2%DeclinersBabylon Holdings [BBLN] >> (43.7%) SeaStar Medical Holdings [ICU] >> (32.4%)Amplitude [AMPL] >> (20.7%)Twilio [TWLO] >> (18.4%) Roblox Corporation [RBLX] ... AM
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Unity Software Inc. [U] ... PM Consumer price index [Apr] ... 8:30a Core CPI [Apr] ... 8:30a CPI year over year [Apr] ... 8:30a Core CPI year over year [Apr] ... 8:30a | 