Pre-market Movers: SIVB, ZVSA, BNED, SSYS, SOBR…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.55 A.M. ET).

In the Green

ZyVersa Therapeutics, Inc. (ZVSA) is up over 18% at $2.53.
Barnes & Noble Education, Inc. (BNED) is up over 18% at $2.04.
Stratasys Ltd. (SSYS) is up over 15% at $16.20.
SOBR Safe, Inc. (SOBR) is up over 12% at $2.15.
Caribou Biosciences, Inc. (CRBU) is up over 11% at $6.15.
Silvergate Capital Corporation (SI) is up over 8% at $3.08.
Wallbox N.V. (WBX) is up over 6% at $5.38.
Ambipar Emergency Response (AMBI) is up over 5% at $9.70.
Sweetgreen, Inc. (SG) is up over 5% at $7.86.

In the Red

SVB Financial Group (SIVB) is down over 43% at $59.50.
DocuSign, Inc. (DOCU) is down over 11% at $56.94.
Tabula Rasa HealthCare, Inc. (TRHC) is down over 10% at $5.25.
BYND Cannasoft Enterprises Inc. (BCAN) is down over 10% at $3.68.
NantHealth, Inc. (NH) is down over 9% at $2.45.
OKYO Pharma Limited (OKYO) is down over 9% at $2.32.
RLX Technology Inc. (RLX) is down over 8% at $2.00.
The Gap, Inc. (GPS) is down over 5% at $10.93.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is down over 5% at $6.77.

GigaCloud Technology Q4 Profit Climbs; Issues Q1 Revenue View

GigaCloud Technology Inc (GCT), a end-to-end B2B ecommerce solutions for large parcel merchandise, reported Friday that its fourth-quarter net income was $12.5 million, an increase of 34.2 percent from $9.3 million in 2021. Earnings per share were $0.31, up from prior year’s $0.27.

Adjusted EBITDA was $15.2 million, an increase of 34.9 percent from $11.3 million a year ago.

Total revenues increased 20.5 percent to $125.6 million from prior year’s $104.2 million. The increase was primarily due to an increase in service revenue from GigaCloud 3P and product revenue from both GigaCloud 1P and off-platform ecommerce.

Looking ahead for the first quarter, the company expects its total revenues to be between $123 million and $127 million.

Gold Edges Higher Ahead Of Next Week's Fed Meeting

Gold ticked higher on Friday and was on course for a third weekly gain as the banking crisis develops.

Spot gold climbed 0.7 percent to $1,932.03 per ounce, while U.S. gold futures were up 0.7 percent at $1,935.75.

A weaker dollar on improved risk sentiment lent support for bullion after First Republic Bank and Credit Suisse secured a lifeline.

Treasury yields traded mixed as investors weighed the outlook for the banking sector in the aftermath of Silicon Valley Bank’s collapse.

Traders shifted focus to the Federal Reserve’s meeting next week, where the U.S. central bank is expected to hike rates by a smaller 25 basis points rather than a 50-basis point rate hike expected earlier.

The Federal Reserve meets on March 21 and 22, with economists expecting the central bank to strike a balance between fighting inflation and reinforcing the financial system’s stability.

In economic releases, the euro zone’s final consumer inflation figures for February are due later in the day.

In the New York session, U.S. industrial production for February and Michigan’s preliminary consumer sentiment index for March are slated for release.

Waterdrop Turns To Profit In Q4; Net Operating Revenue Up 12.5%

Waterdrop Inc. (WDH) reported net profit attributable to Waterdrop for the fourth quarter of RMB 126.2 million, compared with a net loss of RMB 71.2 million, prior year. Profit per share was RMB 0.03 compared to a loss of RMB 0.02.

Adjusted net profit attributable to Waterdrop was RMB 159.7 million, compared with an adjusted net profit of RMB 5.9 million for the same period of 2021.

Net operating revenue increased by 12.5% year over year to RMB 679.5 million from RMB 603.9 million, prior year, which was primarily due to the collection of insurance-related income, crowdfunding service fees and digital clinical trial solution income.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

XPeng Posts Wider Loss In Q4; Total Revenues Down 39.9%

XPeng Inc. (XPEV) posted a net loss attributable to ordinary shareholders of RMB 2.36 billion for the fourth quarter of 2022, compared with a loss of RMB 1.29 billion, prior year. Net loss per ADS was RMB 2.74 compared with a loss of RMB 1.51.

Excluding share-based compensation expenses, non-GAAP net loss attributable to ordinary shareholders was RMB 2.21 billion, compared with a loss of RMB 1.20 billion. Non-GAAP net loss per ADS was RMB 2.57 compared with a loss of RMB 1.41 for the fourth quarter of 2021 .

Total revenues were RMB 5.14 billion for the fourth quarter of 2022, a decrease of 39.9% from the same period of 2021. Total deliveries of vehicles were 22,204 in the fourth quarter of 2022, a decrease of 46.8% from 41,751 in the corresponding period of 2021.

For the first quarter of 2023, the company expects deliveries of vehicles to be between 18,000 and 19,000, a year over-year decrease of approximately 45.0% to 47.9%.
Total revenues are projected to be between RMB 4.0 billion and RMB 4.2 billion, a year-over-year decrease of approximately 43.7% to 46.3%.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Xi to visit Moscow for Putin meeting cementing relations with Russia

The Kremlin has confirmed that Chinese President Xi Jinping will make a three-day visit to Russia next week to meet with Vladimir Putin. Xi will be in Russia from March 20 to March 22, the Kremlin said. Chinese spokesperson Wang Wenbin, at a regular news briefing, said the objective of the visit is to further deepen bilateral trust. China’s foreign ministry said Xi will exchange opinions on major international and regional issues with Russian President Putin during his visit.

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