Good morning. This week will prove a busy one for big tech names, with companies like Apple...
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 38,333.45 | +0.59% | | | | S&P 4,927.93 | +0.76% | | | | NASDAQ 15,628.04 | +1.12% | | | | *As of market close | | • | Markets closed higher on Monday, ahead of a busy week for earnings. | | • | Oil dropped 1.3 percent, closing at $77.02 per barrel. | | • | Gold rose 0.7 percent, ending trading at $2,031 per ounce. | | • | Cryptocurrencies rallied, with bitcoin at $43,098 at the stock market close. | | | | | | | | | | This Commodity Trend Points to Strong Returns for a Merger Play | | | | The winter months in North America typically bode well for investors in natural gas. However, the specific dates and moves in prices depend significantly on weather conditions. That can make getting the exact timing challenging. However, investors could instead look to invest in undervalued stocks that could rise higher even past a cyclical trend and rally for years to come. That would play well to America's natural gas resources and our rising ability to export it to higher-priced markets. » FULL STORY | | | | | | Insider Activity Report: Texas Capital Bancshares (TCBI) | | | | Fairmount Funds Management, a major holder of Viridian Therapeutics (VRDN), recently bought 476,190 shares. The buy increased the fund's holdings by 35 percent, and came to a total cost of $9,999,990. This marks the first insider buy since April 2023, when the company CEO bought 4,000 shares for just over $101,000, and also made a $160,000 buy in March 2023. The company's General Council was a small seller of shares in the past year. » FULL STORY | | | | | | Unusual Option Activity: Verizon Communications (VZ) | | | | Chipmaker Intel (INTC) sold off heavily last week following the company's latest earnings. One trader sees shares rebounding from their recent drop. That's based on the February 23 $46 calls. With 24 days until expiration, 9,463 contracts traded compared to a prior open interest of 194, for a 49-fold rise in volume on the trade. The buyer of the calls paid $0.81 to make the bullish bet.
» FULL STORY | | | | | | • | Retail Landlords See Strong Demand
Property owners for retail space are scaling back discounted rents and other concessions for tenants, a sign that the commercial real estate market may be stabilizing. That's in contrast to the pandemic and immediate aftermath, when landlords slashed prices and offered specialty discounts. | | | | • | Evergrande Moves to Liquidation
Chinese property developer Evergrande has been ordered into liquidation. The company has been struggling for over two years with its high debt levels and a cooldown in China's real estate market. China has recently moved to stimulate its economy and ease some of the pressures in the real estate market. | | | | • | Amazon Terminates iRobot Acquisition
Tech giant Amazon (AMZN) is not moving forward with its acquisition to buy vacuum maker iRobot (IRBT). The companies see no path for regulatory approval of the deal in the European Union. iRobot shares dropped on the news, and the vacuum maker announced that it would lay off 31 percent of its staff. | | | | • | Toyota Halts Shipments on Diesel Testing Issues
Toyota Motors (TM) is suspending shipments on 10 models after finding irregularities in certification tests for diesel engines. The company plans to run new engine certification tests in the presence of regulators to ensure the irregularity is fixed. Toyota sold about 84,000 of the affected engines and vehicles last year. | | | | • | Flexport May Lay Off More Workers
Logistics company Flexport may eliminate as many as 20 percent of its roles in the next few weeks. The company provides freight forwarding and brokerage services, and announced similar cuts back in October. Global shipping has been sluggish coming out of the pandemic, amid a restructuring of supply chains. | | | | | | TOP | | ADM | 5.384% | | | ILMN | 4.288% | | | CCL | 4.074% | | | TSLA | 3.858% | | | BLDR | 3.834% | | | BOTTOM | | HPQ | 2.467% | | | IP | 2.422% | | | STX | 2.09% | | | DD | 1.871% | | | BBY | 1.761% | | | | | | | | | All the economic data — both the GDP and PCE — was good …That was comforting to everybody. And I think it does show we're still in this potential 'Goldilocks' landing, where the economy softens a bit but is still positive. | | - Rhys Williams, chief strategist at Spouting Rock Asset Management, on how last week's GDP and inflation data shows that the economy remains strong, with inflation continuing to decline, without yet moving to a recession. | | |
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