Alibaba (BABA) – Shares of China-based US-traded companies traded higher Monday morning following a Reuters survey which showed a solid gross domestic product (GDP) reading out of China. Sources polled see China’s GDP up 4% during the first quarter, vs the 2.9% growth during the last part of 2022. Alibaba shares were up more than 2% in pre-market action.
Microsoft (MSFT) – Analysts at Morgan Stanley were favorable on Microsoft ahead of the company’s Q3 earnings report next week on Tuesday. The analysts believe a “1-2 point Azure miss is already reflected in shares” and “a near-term return to high-teens total return is not fully reflected” in shares.
Spotify (SPOT) – A play on AI. A Wall Street Journal article featured on the homepage of its website discussed how Spotify uses AI to design playlists for users.
Airbnb (ABNB) – Analysts at Oppenheimer questioned if recent investor sentiment on Airbnb had gotten too negative. The firm’s analysts noted the supply situation for Airbnb had improved given “apartment friendly” markets.
ContraFect (CFRX) – One of Monday morning’s momentum names. Shares were up more than 100% on seemingly no news. The stock is in penny stock territory and has a low float, with around 2 million shares.