Good morning. We're fans of following company insiders when they buy their own...
It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.
| | | | DOW 34,751.32 | -0.18% | | | | S&P 4,473.76 | -0.15% | | | | NASDAQ 15,181.92 | +0.13% | | | | *As of market close | | • | Stocks traded mixed on Thursday, closing near highs of the day. | | • | Oil traded flat, closing at $72.61 per barrel. | | • | Gold dropped 2.3 percent percent, last going for $1,755 per ounce. | | • | Cryptocurrencies trended slightly down, with Bitcoin at $47,523 at the stock market close. | | | | | | | | | | Insider Trading Report: Molson Coors Beverage (TAP) | | | | Louis Vachon, a director at Molson Coors Beverage (TAP), recently picked up 3,000 shares. The buy increased his stake by over 10 percent, and came to a total purchase price of just over $138,000.
This is the second insider buy of the year, following another director buy in February. Directors have also been buyers in 2020 as well, although many company executives have been sellers over the past three years, with sellers far outpacing buyers. » FULL STORY | | | | | | Unusual Options Activity: Colfax Corporation (CFX) | | | | Shares of specialty industrial machinery company Colfax Corporation (CFX) have been trending higher in the past year, although the share appreciation has slowed in recent months. One trader sees the possibility of a drop in the months ahead.
That's based on the December $40 puts. 5,000 contracts traded hands, a 48-fold rise in volume from the prior open interest of 105. The trade has 91 days until expiration. The buyer of the put paid $0.85 to make the trade.
» FULL STORY | | | | | | • | FTC Promises More Antitrust Scrutiny for Big Tech
In a 3-2 vote, the FTC decided to rescind guidelines updated in 2020 regarding vertical mergers. These deals, between companies that don't directly compete, can potentially create antitrust issues over time. The FTC also promised to step up scrutiny in smaller deals that have been overlooked by regulators so far. | | | | • | Covid and Drought to Keep Coffee Prices High
A covid outbreak in Vietnam is leading to lockdowns there, which could impact production of the country's coffee crop. Adding in frost and drought in Brazil, and it's likely that the commodity will continue to see high prices through the next year. | | | | • | Canada Pacific Reaches Deal to Buy Kansas City Southern
Canadian Pacific Railway (CP) has reached a deal to buy Kansas City Southern (KSU) in a deal valued at $27 billion. The move comes as rival Canadian National Railway (CNI) has dropped out of bidding for the railroad. The deal looks to be the first major merger in the US in over two decades, and create a rail network linking Canada, the US, and Mexico. | | | | • | Apna Becomes India's Fastest-Growing Unicorn
Apna, an Indian startup allowing workers to learn new skills and find jobs, has raised $100 million in Series C funding. The raise values the company at $1.1 billion. The startup is 22 months old, making this the fastest-growing unicorn in India. The company has grown to 16 million users in 15 months on the Android app. | | | | • | SpaceX Launches First Space Tourism Mission
A SpaceX rocket has launched four people into space. None of them are astronauts, marking the first spaceflight comprised of tourists. The flight launched on Wednesday night at 8 PM Eastern, and will stay in orbit for 3 days until splashdown on Saturday. | | | | | | TOP | | ETSY | 3.026% | | | AAL | 2.709% | | | ALGN | 2.614% | | | DXCM | 2.469% | | | MGM | 2.439% | | | BOTTOM | | FCX | 6.641% | | | NEM | 3.951% | | | APTV | 3.303% | | | LHX | 3.076% | | | XEC | 2.971% | | | | | | | | | The wall of worry is becoming increasingly challenging to climb, with rising depth and breadth of concerns and a potentially tired market. The stress factors facing the market have not materially changed, including the Delta variant, earnings headwinds from supply chain and labor challenges, fiscal and monetary tailwind shifting to headwinds and bubbling concerns around China. | | - Mark Hackett, chief of investment research at Nationwide, on why the market may be due for a pullback based on a number of factors that have worn on the massive rally so far in 2021. | | |
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