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Check out the companies that are trending in pre-market trading. Cryptocurrency Stocks – Stocks that give investors exposure to Bitcoin fall in price after the Securities and Exchange Commission’s X account was temporarily compromised and false announcement of Bitcoin ETF approval late Tuesday It fell in tandem with this. Cryptocurrency exchange Coinbase and Bitcoin agency MicroStrategy each fell about 3% premarket. Mining stocks fell across the board, with Wall Street favorites CleanSpark and Riot Platforms down more than 3%. Marathons were down nearly 4%. Howmett Aerospace — Shares rose 1.8% on the back of two bullish calls from Wall Street. Bernstein named the stock a top stock in the U.S. aerospace industry, noting that rising prices, rising content share and strong guidance for commercial aircraft production should support the company. The Trust Company upgraded Howmett from reserve to purchase and called him one of the highest quality operations for original equipment manufacturers in commercial aerospace. Lennar — The homebuilder increased its annual dividend by 2.1% after increasing it by 50 cents to $2 per share. Lennar also plans to buy back up to $5 billion worth of additional shares. Intuitive Surgical — Medical stocks rose 4.9% after the company reported preliminary fourth-quarter revenue of $1.93 billion. That beats his $1.87 billion consensus estimate of analysts surveyed by StreetAccount. Intuitive also said that surgeries using the da Vinci system have increased by 21% compared to a year ago. TG Therapeutics — Biopharmaceutical shares rose 11.7% after the company provided preliminary net product earnings for its multiple sclerosis drug. The company said it expects approximately $40 million in the fourth quarter of 2023 and approximately $89 million for the full year. TG guided for net treatment revenue to be between $41 million and $46 million in the first quarter of 2024. For the full year, the company offered a range of $220 million to $260 million. Bloom Energy — Shares rose 4.3% following the price hike, outperforming Baird. The company said Bloom believes there will be positive catalysts through cost reductions, manufacturing improvements and announcements related to electrolyzer sales. Chesapeake Utilities — The utility stock rose 1% following RBC’s rating upgrade, outperforming the sector. RBC said it believes Chesapeake’s management is capable of delivering results, given its track record of successful mergers and acquisitions. Etsy — Shares fell 2% after Goldman Sachs downgraded the stock from buy to neutral. The company expects the company’s backdrop to be weak as consumer discretionary spending tightens. Toast — The restaurant-focused technology stock rose 3.5% following its acquisition by Goldman Sachs. Goldman said the market has not fully taken into account the expected earnings improvement trend this year. Mr. Car Wash — Shares rose 1.8% after Wells Fargo initiated coverage on the stock with an Overweight rating. The company said there was a lot to like about Mr. Car Wash’s business model and the stock was trading at an attractive entry point. — CNBC’s Tanaya Machel, Ha-Kyung Kim and Fred Imbert contributed reporting.
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