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All Financial dropped after reporting larger than expected loan loss provisions. Citigroup quarterly net declined but was ahead of expectations. Morgan Stanley and Goldman Sachs traded higher after reporting strong trading revenues. Twitter was in focus after the board said it will review the $43 billion offer from Elon Musk. Wells Fargo net drops on lower than expected mortgage lending.
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Twitter soared as much as 25% after Tesla CEO Elon Musk reported 9.2% passive stake in a regulatory filing. Tesla gained 1% after the company said EV shipment jumped 69% in the first quarter to 310,000. Starbucks declined 4% after coffee chain suspended $20 billion stock repurchase program announced three weeks ago. JD.com, Alibaba, Bilibili advanced after China tech stocks surged.
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GameStop advanced after the company is looking to increase outstanding shares to 1 billion from 300 million to enable a stock split. BlackBerry dropped after the company reported unexpected profit but missed the quarter revenues estimate. Li Auto, China-based electric vehicle maker delivered nearly 32,000 deliveries, more than double in the period a year ago.
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Micron Technology was in focus after the memory-chip maker reported better than expected sales and earnings. Data center linked revenues surpassed smartphone chip demand. Lululemon missed revenues outlook but announced $1 billion of share buyback. Chewy plunged 15% after reporting larger than expected loss. RH edged lower after the high-end retailer reported lower than expected revenues.
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Tesla jumped nearly 8% after the company said it is looking to split the stock without declaring the date and split ratio. AMC Entertainment surged 25% after the company CEO said more acquisitions are in the pipeline. Poly soared 50% after the communication company agreed to be acquired by HP Inc.
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