| | | | DOW 34,496.72 | -0.72% | | | | S&P 4,361.04 | -0.69% | | | | NASDAQ 14,486.20 | -0.64% | | | | *As of market close | | • | Stocks declined on Monday, closing at their lows of the day. | | • | Oil rose 1.4 percent, closing at $80.45 per barrel. | | • | Gold traded down 0.2 percent, last going for $1,755 per ounce. | | • | Cryptocurrencies generally rose, with Bitcoin at $57,378 at the stock market close. | | | | | | | | | | Repeat Sales of the Same Product Make This Company a Clear Winner | | | | While the recurring revenue model is one that can often lead to steady profits and returns for investors, a truly great company can essentially sell the same product repeatedly, marking up profits on top of profits.
That's the case with Take-Two Interactive (TTWO). The video game development company has seen shares surge on new that it's remastered three of its classic Grand Theft Auto games. » FULL STORY | | | | | | Insider Trading Report: Lemonaria (LMNR) | | | | Jose De Jesus Loza, a director at Lemonaria (LMNR), recently picked up 10,000 shares. The buy increased his stake by nearly 3 percent, and came to a total purchase price of just over $156,000.
This is the sixth buy from this director since mid-September, who has bought nearly 40,000 shares all told. That's in contrast to a number of sales over the past year from insiders at higher prices. » FULL STORY | | | | | | Unusual Options Activity: The GEO Group (GEO) | | | | Shares of private prison company The GEO Group (GEO) have been trending up since May, with a large spike higher on Friday. One trader sees the possibility for a move even higher.
That's based on the March $12 calls. With 157 days until expiration, over 70,830 contracts traded against a prior open interest of 662. That makes for a 107-fold leap in volume on the option trade. The buyer of the call paid $0.70 to make the trade.
» FULL STORY | | | | | | • | Goldman Lowers Economic Forecast
Goldman Sachs (GS) has lowered its GDP forecast for the US economy. Overall, they expect a 5.6 percent rise in growth, down from 5.7. And next year's estimate was lowered from 4.4 percent to 4 percent. The culprit is lower fiscal support from the government, and uncertain consumer spending. | | | | • | Oil Tops $80 Per Barrel
Oil prices topped $81.50 per barrel in the US on Monday, a new seven-year high. The commodity is now 120 percent higher compared to a year ago, and over $120 higher than during the dip last year when prices briefly traded at a negative price thanks to some poor decisions from traders. The rise reflects a supply shortage and tight demand. | | | | • | Southwest Airlines Cuts Over 2,000 Flights
Starting over the weekend, Southwest Airlines (LUV) has had to cut over 2,000 flights. The company has blamed a combination of bad weather, an air traffic control issue, and a staffing shortage. The total cancelled flights account for over 30 percent of the company's schedule. | | | | • | Target Joins Early Black Friday Deals Club
Retailer Target (TGT) is joining companies like Amazon (AMZN) in launching Black Friday deals early. As with other firms that have already launched the holiday shopping season, the biggest reason is related to supply chains, which are resulting in the production and shipping delay of a number of goods and services. | | | | • | Facebook Launches "Audio" Hub
Social media giant Facebook (FB) has launched its "Audio" hub on its mobile App. The service combines podcasts, short-form audio, and other clips on a personalized service that will provide specific recommendations. The new feature will compete with similar offerings from other social media services. | | | | | | TOP | | ENPH | 4.366% | | | MOS | 3.988% | | | WYNN | 3.509% | | | FCX | 3.355% | | | HAL | 2.97% | | | BOTTOM | | GPN | 4.8% | | | GPS | 4.677% | | | ETSY | 4.375% | | | CMCSA | 4.132% | | | LUV | 3.932% | | | | | | | | | Six months from now, many of the current bottlenecks should resolve in part, if not fully. Higher wages are inevitable, but less stimulus will bring more workers back to jobs and fewer Covid cases should balance out some inflationary pressures. | | - Karen Firestone, CEO, and co-founder of Aureus Asset Management, on why the current market fears will likely be replaced by others in the months ahead, but with the possibility for a move higher in the interim. | | |
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