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European Economics Preview: Germany Unemployment Data Due

Scienjoy Holding Corporation Reports Advance In Q1 Bottom Line

Scienjoy Holding Corporation (SJ) reported earnings for its first quarter that increased from the same period last year

The company’s earnings came in at RMB83.22 million, or RMB2.34 per share. This compares with RMB70.95 million, or RMB2.32 per share, in last year’s first quarter.

Excluding items, Scienjoy Holding Corporation reported adjusted earnings of RMB77.71 million or RMB2.18 per share for the period.

The company’s revenue for the quarter rose 27.0% to RMB463.44 million from RMB365.03 million last year.

Scienjoy Holding Corporation earnings at a glance (GAAP) :

-Earnings (Q1): RMB83.22 Mln. vs. RMB70.95 Mln. last year.
-EPS (Q1): RMB2.34 vs. RMB2.32 last year.
-Revenue (Q1): RMB463.44 Mln vs. RMB365.03 Mln last year.

-Guidance:
Next quarter revenue guidance: RMB438mln-RMB478mln

Pre-market Movers: ASPN, SCWO, HYPR, DNAY, XCUR…

The following are some of the stocks making big moves in Thursday’s pre-market trading (as of 06.50 A.M. ET).

In the Green

Aspen Aerogels, Inc. (ASPN) is up over 52% at $12.84
374Water, Inc. (SCWO) is up over 28% at $3.61
Codex DNA, Inc. (DNAY) is up over 18% at $2.28
Kalera Public Limited Company Ordinary Shares (KAL) is up over 16% at $10.09
Grove Collaborative Holdings, Inc. (GROV) is up over 8% at $6.62
W&T Offshore, Inc. (WTI) is up over 7% at $4.93
MillerKnoll, Inc. (MLKN) is up over 5% at $29.48

In the Red

Hyperfine, Inc. (HYPR) is down over 28% at $1.93
Exicure, Inc. (XCUR) is down over 17% at $2.28
Borr Drilling Limited (BORR) is down over 13% at $4.68
MicroStrategy Incorporated (MSTR)is down over 9% at $162.54
Rain Therapeutics Inc. (RAIN) is down over 8% at $4.53
RH (RH) is down over 6% at $220.99
Wayfair Inc. (W) is down over 6% at $45.11
SAP SE (SAP) is down over 5% at $88.45
Earthstone Energy, Inc. (ESTE) is down over 5% at $14.06

Supreme Court Rules 6-3 That the Planet Should Burn

The Supreme Court ruled on Thursday that the Environmental Protection Agency cannot regulate how much climate pollution power plants emit under the Clean Air Act. The court ruled 6-3, along idealogical lines, with Chief Justice John Roberts writing the majority opinion.

West Virginia v. Environmental Protection Agency stemmed from the Clean Air Act, an Obama-era law that mandated certain emissions regulations. West Virginia was one of several fossil-fuel-rich states to sue the EPA over the regulations, leading the Supreme Court to rule that the Clean Power Plan (the part of the Clean Air Act that called for emissions regulations) must be suspended until the courts could upheld its legality. The Trump administration issued its own industry-friendly plan that may have even increased emissions, but it never went into effect, either. The courts struck the Affordable Clean Energy plan down just as the former president was leaving office.

It’s now up to the Biden administration to propose a replacement. It will be severely limited in its ability to do so thanks to the Supreme Court’s ruling on Thursday.

This is a breaking news story and will be updated.

Where TikTok-Like Dance Challenges Meet Network TV

“Dancing With Myself,” on NBC, shows the deep influence of the dance challenge on popular culture, even as its hold on TikTok has loosened.

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As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Margaret Fuhrer

Biden Says He Would Support Axing the Filibuster to Codify Roe v. Wade

President Joe Biden told reporters at a NATO summit on Thursday that “If the filibuster gets in the way” of codifying abortion rights into federal law “we should provide an exception to the filibuster to deal with the Supreme Court decision.”

The President’s statement is the most concrete call to action from Democratic leadership for a pathway towards legislative action since the Supreme Court overturned Roe v. Wade

Biden indicated that he would be “talking to the governors” as to what actions he and his administration should be taking to protect abortion access in the absence of a federal guarantee.

184K New Covid Cases, 860 Deaths In U.S.

With 184,070 new cases reported on Wednesday, the total number of people that have been infected with the coronavirus in the United States has risen to 86,636,811, as per the latest data by the Center for Systems Science and Engineering at Johns Hopkins University.

860 Covid deaths reported on the same day took the total U.S. Covid casualties to 1,014,835.

Georgia reported the most number of cases – 17,802 – and deaths – 80.

Deaths have decreased by 13 percent in the last two weeks, New York Times’ latest tally shows.

More than 30,000 people are currently in American hospitals with the coronavirus, an increase of 3 percent over the last two weeks. More than 3,300 of these patients are admitted in intensive care units, marking a 9 percent rise in a fortnight.

84,153,379 people have so far recovered from the disease, the Worldometer tally shows.

2,053 additional deaths were reported globally on Wednesday, taking the total number of people who have lost their lives due to the pandemic so far to 6,324,459

European Economics Preview: Germany Unemployment Data Due

Unemployment and retail sales from Germany and quarterly national accounts and house prices from the UK are due on Thursday, headlining a hectic day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases revised UK GDP data for the first quarter. The statistical office is expected to confirm 0.8 percent sequential growth.

Also, UK Nationwide house price data is due for June. House price inflation is expected to ease to 10.8 percent from 11.2 percent in May.

In the meantime, Destatis is slated to issue Germany’s retail sales, labor market statistics and foreign trade prices. Economists forecast sales to grow 0.5 percent on month in May, reversing a 5.4 percent drop in April.

At 2.45 am ET, the French statistical office Insee publishes flash consumer prices, producer prices and consumer spending figures. Consumer price inflation is expected to rise to 5.7 percent in June from 5.2 percent in May.

At 3.30 am ET, Sweden’s central bank announces its monetary policy decision. The bank is expected to raise its key rate to 0.75 percent from 0.25 percent.

At 3.55 am ET, Germany’s unemployment data is due. The jobless rate is seen unchanged at 5.0 percent in June.

At 4.00 am ET, Italy’s Istat is scheduled to publish unemployment data. Economists forecast the unemployment rate to remain unchanged at 8.4 percent.

At 5.00 am ET, Eurostat releases euro area unemployment data for May. The jobless rate is seen at 6.8 percent, unchanged from April.