| | | | DOW 35,160.79 | +0.71% | | | | S&P 4,459.45 | -0.06% | | | | NASDAQ 13,453.07 | -1.22% | | | | *As of market close | | • | Stocks traded mixed on Wednesday, with tech dropping heavily. | | • | Oil traded flat, closing at $102.56 per barrel. | | • | Gold slightly rose, ending at $1,960 per ounce. | | • | Cryptocurrencies barely nudged, with Bitcoin at $41,242 at the stock market close. | | | | | | | | | | Suppliers Continue to Offer the Best Return Potential Here | | | | It may sound like a cliché at this point, but when there's a gold rush, the folks selling picks and shovels tend to be the ones to make a consistent profit. No matter what the industry, the key suppliers are the ones that tend to perform the best as other companies in the space duke it out for market share. That's why such companies could provide great returns here. With many companies still reporting supply chain issues, suppliers that can deliver can likely reward shareholders. » FULL STORY | | | | | | Insider Trading Report: BlackRock (BLK) | | | | William Ford, a director at BlackRock (BLK), recently added 3,000 shares. The buy increased his stake by 25 percent, and came to a total purchase price of just over $2.06 million. This marks the first insider buy at the asset management company in the past three years. All other insider transactions have been sales. And those sales have all been by C-suite executives on a fairly steady basis. » FULL STORY | | | | | | Unusual Options Activity: American Airlines (AAL) | | | | Shares of airliner American Airlines (AAL) have been rallying higher in recent weeks. One trader sees the potential for a move higher in the coming months.
That's based on the November $25 calls. With 211 days until expiration, 12,293 contracts traded against a prior open interest of 375, for a 33-fold increase in volume on the contract. The buyer of the calls paid $1.33 to get into the trade.
» FULL STORY | | | | | | • | Home Prices Hit a Record High
Existing home prices in the US hit a record high of $375,300 in March. The move comes just as mortgage rates have started to rise, with rates now hitting 5 percent for the first time since 2011. The combination of rising rates and record-high prices are starting to show up in reduced first-time homebuyer numbers. | | | | • | Calpers Looks to Replace Buffett as Berkshire Chairman
Warren Buffett has served as chairman of Berkshire Hathaway (BRK-B) for 52 years. However, the California Public Employee's Retirement System (CALPERS), a significant shareholder, is looking to support a shareholder proposal to replace Buffett as chairman. The vote will take place at the company's annual meeting on April 30. | | | | • | Lululemon to Launch Membership Program
Lululemon Athletica (LULU) is launching a membership program with two tiers, one free and one paid. The goal is to build a stronger base of loyal flowers, and expand beyond workout clothes into other lines such as unique events and fitness content as well. | | | | • | BMW Unveils the All-Electric i7
BMW has unveiled its i7, the company's flagship all-electric vehicle. The new car starts at $119,300, and can go 300 miles on a full charge, a slightly smaller distance than competing luxury EV offerings from Lucid and Mercedes. A gas version is also available at a starting price of "just" $93,300. | | | | • | Netflix Looks to Charge More for Shared Accounts
Following the first subscriber loss in over a decade and a substantial drop in shares as a result, Netflix (NFLX) states they're looking at ways to better improve the bottom line. One such way is to crack down on password sharing, with the platform saying it will charge more for shared accounts in the future. | | | | | | TOP | | MTB | 9.566% | | | IBM | 7.169% | | | HCA | 5.218% | | | OMC | 5.141% | | | WAT | 4.314% | | | BOTTOM | | NFLX | 36.198% | | | MTCH | 9.85% | | | ENPH | 8.671% | | | PYPL | 8.591% | | | SEDG | 7.814% | | | | | | | | | Both sentiment and positioning are now too bearish, in our view. While we slightly reduced our record equity allocation ... we remain constructive on equities and think that a near-term rally is likely, particularly in small-cap and high-beta market segments. | | - Marko Kolanovic, JPMorgan Chase analyst, on why the market has been oversold in the short-term, even given the number of bearish news and economic items in the past few weeks. | | |
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