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Tuesday, March 10

Noteworthy macro moves today: Oil (WTI) +5.4%. Bitcoin +3.0%. DAX 30 Index (Germany) +2.2%. Noteworthy US mega-cap moves today: Berkshire Hathaway Inc (BRK.A) +1.6%. Exxon Mobil Corp (XOM) -1.2%. Mastercard Inc (MA) -1.1%.

Global equity markets are trading higher following a rebound in Asian and European indices, driven by easing concerns over the U.S.-Iran conflict after President Trump's comments suggesting the war could end soon.

In the U.S., however, equity indices are experiencing mixed performance as lingering geopolitical tensions continue to weigh on market sentiment despite positive trends from overseas markets. Major U.S. stocks like Exxon Mobil are under pressure due to rising oil prices impacting operational costs and inflation concerns.

Additionally, recent economic data releases have shown mixed results; Germany's exports fell more than expected while Japan reported strong growth in machine tool orders and nominal wages. These developments reflect ongoing challenges in global trade dynamics amid heightened geopolitical risks that could influence future monetary policy decisions by central banks worldwide.

United States Oil Fund LP (USO) [+3.2%]
The United States Oil Fund LP (USO) has seen a price increase of 3.2% in pre-market trading on Tuesday. Recent developments include discussions by the U.S. Energy Secretary regarding coordinated releases from the Strategic Petroleum Reserve, while President Trump announced waivers on certain oil-related sanctions to maintain global oil flow. Concurrently, the UAE's Ruwais refinery was halted due to a drone attack, underscoring geopolitical tensions. On social media, there is heightened discussion around oil output cuts by Saudi Arabia, UAE, Iraq, and Kuwait, totaling approximately 6.7 million barrels per day. Notably, USO recorded its highest trading volume ever yesterday, with over 143 million shares traded. Additionally, a recent surge in U.S. oil prices above $91 per barrel has been linked to Saudi Aramco's announcement to restore a significant portion of its crude oil exports.

Ethereum (ETH/USD) [+2.9%]
Ethereum (ETH/USD) has increased by 2.9% since Monday, coinciding with Bitcoin's rise of 2.85%. The Ethereum Foundation has announced a $140 million staking initiative in partnership with Bitwise, generating notable discussion on social media. Additionally, significant outflows from Ethereum-related ETF investments have been reported, with ETH experiencing a net outflow of over $51 million, contrasting with Bitcoin's inflow of over $167 million. In a related development, Bitmine has acquired over 60,000 ETH, raising its total holdings to more than 4.5 million ETH, with over 3 million ETH staked. Meanwhile, Vitalik Buterin has introduced a potential innovation called “DVT-lite,” aimed at simplifying ETH staking for institutions. The ongoing military actions in the Middle East have disrupted global energy markets, contributing to a decline in oil prices, while China's trade surplus has exceeded expectations due to strong export growth.

VRTX | +6.5% | +8.3B
Vertex Pharmaceuticals Inc | Biotechnology
Vertex Pharmaceuticals Inc announced positive interim results from its Phase 3 RAINIER trial of povetacicept in immunoglobulin A nephropathy. The trial met its primary endpoint, showing a significant reduction in the urine protein to creatinine ratio at Week 36. The treatment group exhibited notable reductions in serum galactose deficient IgA1 and a high hematuria resolution rate. Vertex plans to submit a Biologics License Application by the end of March, which may expedite the approval process. Following this announcement, analysts at Jefferies initiated coverage with a Buy rating and a price target of 580, while OPCO raised its target from 540 to 600. Social media discussions highlighted the promising data and anticipated future developments, contributing to a substantial increase in Vertex shares during after-market trading.

BNTX | -17.8% | -3.6B
BioNTech SE | Biotechnology
BioNTech SE's co-founders, Prof. Ugur Sahin and Prof. Özlem Türeci, announced plans to establish an independent company focused on next-generation mRNA innovations by the end of 2026. This shift has raised concerns as BioNTech will contribute rights and mRNA technologies to the new entity in exchange for a minority stake. The company reported a Q4 net loss of €305 million, contrasting with a net income of €259.5 million the previous year. Revenues also declined to €907.4 million from €1.19 billion. The FY26 sales guidance of €2.33 billion to €2.68 billion falls short of the €3.12 billion estimate, attributed to pipeline doubts and delays in oncology ramp-up. Following these announcements, BioNTech's stock dropped significantly in pre-market trading, reflecting market reaction to these developments.

NIO | +6.5% | +711.4M
NIO Inc | Automobile Manufacturers
NIO Inc. reported its fourth-quarter earnings on March 10, 2026, revealing substantial financial improvements. The company achieved an adjusted EPS of RMB0.29, exceeding analyst estimates of a loss. Total revenues reached RMB34.65 billion, surpassing the consensus of RMB33.25 billion. Deliveries for the quarter totaled 124,807 vehicles, reflecting a 71.7% year-over-year increase. The gross margin improved to 17.5%, while the vehicle margin rose to 18.1%. For Q1 2026, NIO anticipates vehicle deliveries between 80,000 and 83,000 units, indicating a year-over-year growth of approximately 90.1% to 97.2%. Additionally, discussions on social media highlighted NIO's first profitable quarter with a net income of approximately $40.4 million and revenue of about $4.8 billion, both exceeding expectations. The board approved a new share incentive plan for founder William Li, contingent upon specific market cap and profit milestones.

RIVN | +4.7% | +781.8M
Rivian Automotive Inc | Automobile Manufacturers
Rivian Automotive Inc. has seen a notable price increase of 4.7% in pre-market trading, following recent analyst upgrades. TD Cowen has upgraded its rating from Hold to Buy, with a new price target of $20, ahead of the anticipated launch of the R2 vehicle on March 12. This model is expected to broaden Rivian's market reach due to its smaller size and more affordable pricing. Additionally, a review of 16 analysts' ratings shows an uptick in bullish sentiment, with the average price target rising from $15.75 to $19.81. Social media discussions reflect this positive sentiment, highlighting the TD Cowen upgrade and the significant rise in Rivian's stock price, with calls at a $16 strike now being "big in the money." Concurrently, NIO Inc. has experienced a substantial increase, which may also be influencing Rivian's stock movement within the electric vehicle sector.

QCOM | -2.7% | -4.0B
Qualcomm Inc | Semiconductors
Qualcomm Inc has experienced a premarket decline of 2.7% following a report from BofA Securities, which has initiated coverage with an Underperform rating and set a price target of 145.00. Additionally, Citigroup has raised concerns regarding Qualcomm's position amid the ongoing AI chip boom. Social media discussions have highlighted Google's upcoming Pixel 11 Pro Fold, showcasing refined design and performance improvements while tagging Qualcomm alongside other major tech companies. Meanwhile, the Russell 2000 Index has dropped, reflecting broader market sentiment that may also be influencing Qualcomm's stock movement.

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