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Biggest stock movers Monday: SOFI, HIMS, and more. (00:15) Samsung (SSNLF) shares jump on report of imminent HBM4 mass production. (01:03) China’s Luckin Coffee (LKNCY) targets Starbucks’ (SBUX) premium market with first flagship store. (01:38)
This is an abridged transcript.
Hims & Hers Health (HIMS) is on our biggest movers list ahead of market opening.
HIMS -15% in premarket action.
We told you Sunday on Wall Street Brunch that HIMS said it will stop offering a compounded, copycat version of Novo Nordisk’s Wegovy (semaglutide) pill, following pressure from Novo and heightened FDA scrutiny.
In a post on X, the company said it decided to discontinue the treatment after “constructive conversations” with industry stakeholders.
The move comes after the commissioner of the FDA said regulators would target companies producing mass-market copycat drugs which raises broader concerns around compounded GLP-1 offerings.
Novo Nordisk is up 7% percent in premarket action following the announcement.
Samsung Electronics’ (SSNLF) shares rose as much as 6.4% on Monday after a report that the company will soon begin mass production of HBM4 memory chips. The chips are used as part of the buildout for artificial intelligence infrastructure.
A news outlet reported that Samsung plans to ship the semiconductors to Nvidia (NVDA) as early as the third week of February.
The report said, citing unnamed industry sources that the HBM chips will be used to power Nvidia’s upcoming Vera Rubin AI accelerators.
Luckin Coffee (LKNCY) continues to take aim at Starbucks (SBUX).
The coffee chain announced the official inauguration of its 30,000th store on Sunday. It’s the first Origin Flagship, in Shenzhen.
China’s Luckin Coffee is targeting Starbucks’ high-end roastery market with the new flagship in the south, marking its first major shift from budget stores that once helped it surpass Starbucks (SBUX) in store count.
Luckin has a vast network across 300+ Chinese cities and is expanding its presence in Singapore, Malaysia, and the U.S.
According to a CNBC report, in contrast to Luckin’s (LKNCY) typical offerings priced at roughly $1 or $2 for an Americano or latte, the flagship store has nudged prices slightly higher for a range of pour-over and cold brew coffee drinks.
This store also marks Luckin’s first adoption of high-end semi-automatic coffee machines.
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Catalyst watch:
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The spinoff of Becton, Dickinson and Company’s (BDX) biosciences & diagnostic solutions business and merger with Water Corporation (WAT) will become effective after the close.
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Sports betting stocks DraftKings (DKNG) and FanDuel (FLUT) will be on watch as analysts digest the impact of the Super Bowl results on Q1 hold rates. The House has seen disappointing results vs. the betting public in the last two Super Bowls.
Dow, S&P and Nasdaq futures are in the red. Crude oil is up 0.1% at $63/barrel. Bitcoin is down 2.7% at $68,000. Gold is up 0.4% at $4,991.
The FTSE 100 is down 0.1% and the DAX is up 0.2%.
The biggest movers for the day premarket: Kroger (KR) +5% – Shares advanced after The Wall Street Journal reported the grocer plans to appoint former Walmart U.S. chief Greg Foran as its next CEO, ending a months-long search following Rodney McMullen’s exit.
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
