 | | |  | DOW 31,494.13 | -0.38% | | |  | S&P 3,914.02 | -0.44% | | | | NASDAQ 13,865,36 | -0.72% | | | | | *As of market close | | | • | Stocks traded down on Thursday, but closed off their lows of the day. | | | • | Oil prices declined 1.8 percent, closing the day at $60.02. | | | • | Gold traded flat, with the metal changing hands at $1,774. | | | • | Cryptocurrencies were generally higher, with Bitcoin flat around $52,101. | | | | | | | |
| | | Solid Earnings and Stimulus Prospects Make This Retailer a Buy Now | | | | Markets continue to see some big moves in individual companies reporting earnings. Or, more accurately, in companies making announcements in conjunction with earnings.
For instance, Walmart (WMT) reported solid earnings thanks to rising ecommerce sales, and boosted its share buyback program to $20 billion. Yet shares sold off anyway, as the firm came in light with guidance for the year ahead. It also didn't help that the company announced a higher wage for 425,000 workers.
» FULL STORY | | | | |
| | Insider Trading Report: CVS Health Corp (CVS) | | | | Edward Ludwig, a director at CVS Health Corp (CVS) recently picked up 3,000 shares. The buy increased his stake by over 13 percent, and came to a total cost of exactly $216,000.
This is the first insider buy at the company since last May, when an EVP bought 5,000 shares. Overall insiders have been sellers of shares, and entirely from the C-suite of executives, rather than from company directors. Insiders own a paltry 0.17 percent of shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Facebook (FB) | | | | Social media giant Facebook (FB) has been trading in a range between $250 and $300 over the past few months. At least one trader sees a big selloff ahead.
That's based on the September $150 put options. Expiring in 210 days, shares would need to drop 47 percent for the trade to move in-the-money. Over 12,400 contracts traded, a 43-fold rise in volume over the prior open interest of 288.
» FULL STORY | | | | |
| | • | Marriott Reports First Annual Loss Since 2009
Hotel chain Marriott International (MAR) just reported its first loss since 2009. The company reported a total loss of $267 million, the second largest on record. The pandemic-driven slump impacted travel demand, which continues to remain low to this day. The news comes shortly after the death of company CEO Arne Sorenson, who passed away on Monday. | | | | • | Biden Order Supply Chain Review
Citing a heavy reliance on semiconductors and rare earth elements, President Biden ordered a review of key U.S. supply chains. The order may impact trade with China, which has spent years becoming the low-cost producers for many of these key goods, which also have potential military applications as well. | | | | • | Rising Oil and Copper Prices Becoming "detached from reality"
Rising commodity prices in recent months may not accurately reflect supply and demand fundamentals. In particular, notes Commerzbank, are oil and copper. The big moves higher there have been based on speculation. In the case of oil, OPEC nations have been discussing increasing their oil production thanks to the higher prices now occurring today. | | | | • | McDonald's Ties Pay to Diversity Goals
Setting the goal of having gender parity in management by the end of 2030, McDonald's (MCD) has tied its executive pay towards hitting that goal. Besides closing the gender gap, the fast-food giant is also looking to increase underrepresented groups from a current level of 29 percent to 35 percent by 2025. | | | | • | Clubhouse Tops Eight Million Downloads
Social media app Clubhouse, which operates via audio only, has topped 8 million downloads globally. The app has received a major boost following the disclosure that it was being used by billionaire Elon Musk, as well as Facebook (FB) CEO Mark Zuckerberg. At the start of the month, only 3.5 million downloads had been achieved. | | |
| | | | TOP | | | FE | 7.199% | | | | KHC | 5.24% | | | | LKQ | 4.976% | | | | DISH | 4.154% | | | | CBOE | 3.718% | | | | BOTTOM | | | ALB | 10.167% | | | | WAB | 9.187% | | | | MOS | 9.136% | | | | XEC | 7.199% | | | | WMT | 6.481% | | | | |
| | |  | | Builders report concerns over increasing lumber and other construction costs and delays in obtaining building materials. Rising interest rates will also erode housing affordability in 2021, as inventories of existing homes remain low. | | - Robert Dietz, chief economist at the National Association of Home Builders, on the impact of lumber prices hitting $1,000 per 1,000 board feet, double the price from three months ago, and the impact that may have on housing prices and housing starts. | |
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