Summary: U.S. equity index futures are up, with Tesla's pre-market trading up over 28%; big banks are optimistic, $New Oriental (EDU.US)$ New Oriental is showing strong growth; promising trial data, Moderna rose more than 6%.
On January 18, U.S. equity index futures rose, with Dow futures up 0.05%, Nasdaq futures up 0.05%, and S&P 500 index futures up 0.09%.
Tesla's pre-market trading surged over 28%, after announcing a strategic agreement with Huanggang City, Hubei Province, China, planning to relocate its FF China headquarters to Huanggang.
$Tesla (TSLA.US)$ Tesla continued to rise more than 2% in pre-market trading, with the stock surging more than 7% last Tuesday. The daily sales volume in China increased by 76% year-on-year after the price reduction last week.
Moderna rose more than 6% in pre-market trading after announcing the trial data for its respiratory syncytial virus (RSV) phase III trial, indicating an 84% efficacy in preventing symptoms in the elderly.
BofA is optimistic, with New Oriental rising more than 5% in pre-market trading. BofA Securities published a research report indicating a buy rating on New Oriental due to the steady business momentum in the second quarter of 2023, reaffirming the buy rating. The group's revenue for the second fiscal quarter of the 2023 fiscal year was down 3% year-on-year to $0.6382 billion as of the end of November last year, exceeding the upper guidance limit of 3%. BofA Securities stated that New Oriental was somewhat affected by the epidemic in the second quarter and expects growth momentum to accelerate after the reopening. The non-GAAP operating margin for the fiscal year 2023 may recover to over 8%,...