 | | |  | DOW 31,437.804 | +0.20% | | |  | S&P 3,909.88 | -0.03% | | | | NASDAQ 13,972.53 | -0.25% | | | | | *As of market close | | | • | Stocks traded mixed on Wednesday, closing off of intraday highs. | | | • | Oil rose 0.2 percent, closing at $58.50 per barrel. | | | • | Gold rallied 0.2 percent, hitting $1,842 per ounce. Silver fell 1.3 percent to $27.04. | | | • | Cryptocurrencies pulled back, with Bitcoin last trading at $44,622. | | | | | | |
| | | Another Rare Earnings Miss Creates Another Buying Opportunity | | | | Some company CEOs have discussed getting rid of quarterly earnings reports. As long as it's required by the SEC, it will never happen. But those CEOs are right to point out that quarterly numbers, along with the Wall Street earnings guessing game, often creates a short-term focus that distracts from the long-term.
That's also why some of the best trades to make are companies that sell off after an earnings report, whether good or bad
» FULL STORY | | | | |
| | Insider Trading Report: UGI Corp (UGI) | | | | Ted Dosch, a director at UGI Corp (UGI), recently picked up 10,000 shares. The buy increased his holdings by over 41 percent, and came to a total cost of just over $374,000.
This marks the first insider buy of the year. Insiders have been both buyers and sellers in the past year, with massive insider buying back in August overwhelming insider sales. Overall, insiders own about 0.6 percent of shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Coty Inc (COTY) | | | | Cosmetics firm Coty (COTY) has been a poor performer during the pandemic, but shares have started moving up in recent months. Now, after flatlining for a few weeks, one trader sees shares moving higher.
That's based on the March 2021 $7.50 call. With 43 days until expiration, over 10,200 contracts traded against an open interest of 247, for a 41-fold rise in volume. The trader paid about $0.53 for each contract.
» FULL STORY | | | | |
| | • | SPACs Hit $31 Billion In Capital Raised In 2021
Five weeks into the new year, and SPACs – Special Purpose Acquisition Companies—have managed to raise $31 billion from going public. The speed and size of the move is leading some to talk of a bubble, as the SPAC Index, tracking the 50-largest pre-merger blank-check deals, is up 14 percent so far this year. As this is an opportunity for investors to get in at valuations usually reserved for early-stage investors, it's no surprise that retail traders may be behind the recent outperformance. | | | | • | Millennials Catch Up on Wealth, But Lag on Retirement Savings
From 2016 to 2019, the millennial age group saw a massive increase in wealth. That's after the 2008 recession hit their job prospects, and before Covid took another hit. Despite the large increase in wealth, student loan debt remains a laggard that other generations haven't had to contend with as severely. To address the spending there, it looks like the big shift in millennials compared to prior generations is in how much they've saved for retirement. | | | | • | Fidelity Looks to Grab Market Share from Robinhood and Vanguard
The brokerage wars continue. Fidelity's Geode Asset Management has grown its assets to $720 billion from $100 billion a decade ago. The low-cost index business model is a key player for Vanguard, which pioneered the index fund. But Geode is also looking to grab capital from Robinhood investors, who felt burned from the GameStop (GME) trading cutoff. | | | | • | Epic Games Sues Apple and Google Over App Store Payments
Epic Games has been raking in the revenue since 2017 when it launched Fortnite. The game is offered both on Epic's digital storefront, but also a number of App sites, like those owned by Alphabet's Google (GOOG) and Apple (AAPL). Both those companies want a cut of all sales, which is hitting Epic's bottom line by the millions. | | | | • | TikTok's Sale to Oracle Put on Indefinite Hold
Last year, the US government sought to have Chinese social media firm TikTok sell its US operations to a group of buyers, notably Oracle (ORCL) and WalMart (WMT). Now, those plans are being put on hold, essentially indefinitely. That means that users of the platform will still have their data stored on Chinese-held servers, so users beware. | | |
| | | | TOP | | | TWTR | 13.195% | | | | UAA | 8.349% | | | | UA | 6.956% | | | | TYL | 6.499% | | | | IFF | 5.956% | | | | BOTTOM | | | AKAM | 10.91% | | | | FMC | 7.271% | | | | IPG | 6.619% | | | | HBI | 6.162% | | | | AIZ | 5.656% | | | | |
| | |  | | There's a lot of money coming into the market. That lends itself to people going outside the course of the S&P 500 or Nasdaq 100. You will continue to see this behavior just because people are looking around to see what else is there besides buying the same stocks everybody else is buying. | | - JJ Kinahan, TD Ameritrade's chief market strategist, on the rapid growth in SPACs, as well as investor interest in other non-stock trades like cryptocurrencies. | |
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