 | | |  | DOW 31,961.86 | +1.35% | | | | S&P 3,925.35 | +1.13% | | | | NASDAQ 13,597.970 | +0.99% | | | | | *As of market close | | | • | All major indices closed higher, shaking off morning losses. | | | • | Oil prices rose 2.5 percent, closing the day at $63.23. | | | • | Gold declined 0.3 percent with the metal trading at $1,800 per ounce. | | | • | Cryptocurrencies jumped, with Bitcoin rallying to $49,144. | | | | | | | |
| | | Weak Short-Term Growth Hits One of the Hottest Plays in FinTech | | | | Payment processing company Square (SQ) has had a tremendous year. But the market wasn't too impressed by the company's recent earnings numbers. While it beat on both revenue and profit expectations, the rate of growth appears to be slowing.
That's led to a selloff in shares, adding to losses from the tech selloff earlier in the week. However, those numbers overlook some more powerful trends in place.
» FULL STORY | | | | |
| | Insider Trading Report: Conduent (CNDT) | | | | Scott Letier, a director at Conduent (CNDT), recently picked up 10,000 shares. The buy increased his stake by 4 percent, and came to a total cost of just under $50,000.
He was joined by CEO Clifford Skelton, who bought 20,661 shares, for a total buy of just over $100,000. Overall, insiders have been buyers of shares over the past three years, with no insider sales in that timeframe.
» FULL STORY | | | | |
| | Unusual Options Activity: Halliburton (HAL) | | | | Traders looking for market-beating opportunities outside the tech space have been increasingly attracted to energy. Gently-rising oil prices have been a rising tide for the sector. One play getting some attention? Services giant Halliburton (HAL).
One trader likes the March 19th $23.50 call options, just $1.50 over the current price near $22. Over 9,850 contracts traded, a 61-fold rise in volume from the prior interest of 162.
» FULL STORY | | | | |
| | • | Rising Lumber Prices a Boon to Saw Mill Operators, Not Land Owners
Lumber prices sit at all-time highs thanks to rising demand for better housing nationwide. With this boom underway, the real value is accruing to the saw mill operators who process raw lumber, rather than the growers of trees themselves. Expect supplies to remain tight until lumber makers can receive a better incentive for their property. | | | | • | Fry's Electronics Declares Bankruptcy
Joining the retail bankruptcy club, Fry's Electronics had 31 stores across 9 states. The company has shut down overnight, ending four decades in business. The company cited changing consumer shopping habits in the pandemic era. While many other retailers revamped their online operations last year, Fry's lagged in that area. | | | | • | Miami Becomes a Startup Hub
With many big-name Silicon Valley giants pulling up stakes for Texas, many smaller startups are moving even further east to Miami, Florida. The local government has discussed making payment options to employees or payments to the city in Bitcoin, and many successful tech funders have moved to the area, which has no state income taxes. | | | | • | J&J's One-Shot Vaccine Clears FDA Approval
Johnson & Johnson (JNJ) may be late to the Covid vaccine party, being third in line. But the company's innovation, a single-shot vaccine, is an improvement over the existing ones. The FDA just approved the vaccine for emergency use, noting that no specific safety concerns emerged during the vaccine's trial. | | | | • | IPO and SPAC Pipeline Remains Robust
2020 marked a huge year for companies going public, either via the traditional IPO process or via SPAC. There's no sign of a slowdown in sight, with big-names like Roblox, Coinbase and Stripe looking to go public in the coming months. | | |
| | | | TOP | | | NCLH | 9.259% | | | | MOS | 8.771% | | | | UAL | 8.595% | | | | BA | 8.118% | | | | OXY | 8.058% | | | | BOTTOM | | | VRSK | 9.619% | | | | BIDU | 5.766% | | | | LOW | 3.725% | | | | M | 3.652% | | | | MELI | 3.48% | | | | |
| | |  | | But the way you acted, and I think this is the biggest problem...Robinhood clearly...their marketing, everything about them, "we're democratizing trading, we're for the retail trader," that's the branding of Robinhood and it clearly worked...Knowing that, when you force people to sell, you only allow them to sell but they can't buy, you cratered the stock. | | - Dave Portnoy, founder of Barstool Sports and day trader, to Robinhood CEO and founder Vlad Tenev on the GameStop rally and crash last month. | |
|
No comments:
Post a Comment