| | | | DOW 31,521.69 | +0.09% | | | | S&P 3,876,49/td> | -0.77% | | | | NASDAQ 13,533.05 | -2.46% | | | | *As of market close | | • | Tech stocks were crushed on Monday, as the Dow reported a modest gain. | | • | Oil prices jumped 4.1 percent closing the day at $61.69. | | • | Gold rallied 1.8 percent with the metal changing hands at $1,809. | | • | Cryptocurrencies saw a large pullback, with Bitcoin last trading near $53,899. | | | | | | | | | | Cloud Profits Could Turn this Tech Giant Back to Bigger Growth | | | | Tech companies are able to reap massive profit margins thanks to scale and costs. For instance, the cost of writing a piece of software is fixed. If a company can sell an additional copy, its marginal cost of production is minimal. That's also true of other tech services as well. It's why a number of companies building out their cloud capabilities are able to reap massive profit margins.
» FULL STORY | | | | | | Insider Trading Report: Henry Schein (HSIC) | | | | Mohamad Ali, a director at Henry Schein (HSIC), recently picked up 1,000 shares. The buy cost just over $65,000, and is an initial stake by the director. Insider trends also show that it's the first buy at the firm in the past three years. Insiders have been exclusively sellers over that timeframe, including both directors and C-suite executives. The sales have occurred on a regular basis, so some insiders have sold at lower prices than where shares trade today. » FULL STORY | | | | | | Unusual Options Activity: Exxon Mobil (XOM) | | | | Energy giant Exxon Mobil (XOM) has been moving higher along with the price of oil in the past few months. At least one trader sees shares taking a breather from here. That's based on the April $55 put options. The option expires in 52 days. Over 50,800 contracts traded against a prior open interest of 1,055, for a 48-fold jump in volume. The trade is slightly in-the-money as shares are currently going for about $54.50.
» FULL STORY | | | | | | • | White House Looks at Stock-Trading Tax After GameStop Saga
The White House has come out in favor of a financial transaction tax. Such a tax would be 0.1 percent on each trade (to start), and would raise up to $777 billion for the Federal Government. The tax might not be high enough to completely deter traders, however, especially those seeking stocks capable of moving double-digits on a daily basis. | | | | • | Boeing Takes a Hit on Engine Failures
Boeing (BA) can't seem to catch a break. After a viral picture of an engine part that crash landed in a yard popped up on social media, the company saw shares drop Monday, although they came off the lows during the day. The FAA has ordered inspections of all Boeing 777 aircraft with similar Pratt & Whitney engines. Pratt & Whitney is owned by Raytheon Technologies (RTX). | | | | • | Elon Musk Tweets Bitcoin Prices are High, Prices Tank
RBitcoin prices dropped under the $50,000 level briefly on Monday, but recovered nearly half their losses. The move came after Tesla Motors (TSLA) CEO Elon Musk tweeted about the cryptocurrency (again) stating that this time prices seemed too high. At one point over the weekend, BTC ran up to over $58,000, and Tesla was up nearly $1 billion on its initial $1.5 billion investment. | | | | • | Taco Bell Joins the Chicken Sandwich Wars
Chicken sandwiches are in, and even Taco Bell, owned by Yum Brands (YUM), is getting in on the profits. The company's latest product is a fried chicken sandwich taco. Served in a piece of puffy bread shaped like a taco, there's both a regular version and a spicy version. The move comes after Wendy's (WEN) and McDonald's (MCD) have unveiled more chicken sandwich offerings. (Maybe bring back the Mexican pizza?) | | | | • | LVMH Takes 50 Percent Stake in Armand de Brignac
French luxury conglomerate LVMH has taken a 50 percent stake in champaign brand Armand de Brignac, owned by rapper Jay-Z and started in 2006. The brand, nicknamed "Ace of Spades," sold more than 500,000 bottles in 2019, and estimates that sales were off 18 percent in 2020. The specific price of the stake sold to LVMH, owner of Moet Hennessy and Louis Vuitton, among others, has yet to be disclosed. | | | | | | TOP | | PBCT | 14.924% | | | TRIP | 11.999% | | | AAL | 9.422% | | | RCL | 9.332% | | | VNO | 9.208% | | | BOTTOM | | VTRS | 14.882% | | | ENPH | 11.532% | | | TSLA | 8.55% | | | JD | 9.946% | | | TER | 7.153% | | | | | | | | | Bitcoin prices have continued their meteoric rise with Tesla, BNY Mellon and Mastercard's announcements of greater acceptance of cryptocurrencies. But fintech innovation and increased demand for digital services are the real Covid-19 story with the rise of online start-ups and expansion of digital platforms into credit and payments. | | - JPMorgan Chase, in a research note, on the rising competition between traditional banking systems and fintech plays, and why the rally in Bitcoin may take a backseat to those trends. | | |
No comments:
Post a Comment