Good morning. "We've investigated ourselves, and found we did nothing wrong." That's the view th...
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 38,797.38 | +0.33% | | | | S&P 5,021.84 | -0.09% | | | | NASDAQ 15,942.54 | -0.30% | | | | *As of market close | | • | Markets closed mixed on Monday, following last week's push to new all-time highs. | | • | Oil rose 0.3 percent, closing at $77.07 per barrel. | | • | Gold dipped 0.2 percent, ending at $2,034 per ounce. | | • | Cryptocurrencies trended higher, with bitcoin at $50,142 at the stock market close. | | | | | | | | | | Undervalued Staples Can Still Make Market-Beating Returns this Year | | | | The market rally since late 2022 has been driven by tech stocks, particularly large cap tech stocks developing artificial intelligence (AI) opportunities. That's caused other sectors of the market to lag. Over time, improving earnings from these sectors is creating a better value. Investors may want to take some profits in high-flying tech stocks now that markets are soaring to all-time highs. Other companies can likely help push stock indices higher this year as they play catch-up with the overall market. » FULL STORY | | | | | | Insider Activity Report: Estee Lauder (EL) | | | | Jennifer Hyman, a director at Estee Lauder (EL), recently bought 1,350 shares. The buy increased her stake by 135 percent, and came to a total cost of $198,045.
This marks the first insider buy over the last two years. Otherwise, company insiders have been regular and steady sellers of shares, mostly in 2022 and early 2023, in particular the company's President and CEO. Most sales from other executives have come following the exercise of stock options. » FULL STORY | | | | | | Unusual Option Activity: Micron (MU) | | | | Semiconductor producer Micron Technologies (MU) have had a strong year, rallying 42 percent. One trader sees further upside in the coming months. That's based on the May $100 calls. With 93 days until expiration, 14,221 contracts traded compared to a prior open interest of 354, for a 40-fold rise in volume on the trade. The buyer of the calls paid $2.19 to make the bullish bet.
» FULL STORY | | | | | | • | Diamondback Makes $26 Billion Offer for Endeavor
Shale producer Diamondback Energy (FANG) has made an offer to buy Endeavor Energy Partners in a cash-and-stock deal valued at $26 billion. Endeavor is the largest privately-held oil and gas play in the energy-rich Permian Basin. If the deal goes through, Diamondback would become the third-largest player in the region. | | | | • | Industry Prepares for Busier Homebuying Season
As spring approaches, real estate agents across the nation are preparing for a busier year than last year. 2024 marked the least affordable housing market since the 1980s as interest rates soared. Rates have dropped off their recent highs, which may increase sales volume in the months ahead. | | | | • | Buying Interest Increases in Commercial Real Estate
Investors are putting cash to work in distressed commercial real estate, as the number of distressed properties has been on the rise. Lenders are also getting tougher with office and hotel operators who have deferred maintenance the past few years amid lower vacancy rates. | | | | • | Microsoft Eating into Amazon's Cloud Lead
Tech giant Microsoft (MSFT) is increasing its position in the cloud services market, eating into the lead of dominant player Amazon (AMZN). Revenue at Microsoft's Azure jumped 30 percent in the most recent quarter, more than double the 13 percent growth at AWS, and Azure is now estimated to be three-quarters as large as AWS, compared to half as large five years ago. | | | | • | Gilead to Acquire CymaBay for $4.3 Billion
Biotech company Gilead Sciences (GILD) has made an offer to acquire CymaBay Therapeutics (CBAY), in a deal valued at $4.3 billion. The deal is all cash, and will add a treatment for chronic liver disease to Gilead's portfolio, as well as another leading drug candidate for liver diseases. | | | | | | TOP | | VFC | 14.281% | | | FANG | 9.371% | | | MHK | 6.472% | | | ENPH | 6.214% | | | MTCH | 4.884% | | | BOTTOM | | NOW | 3.32% | | | MSI | 3.201% | | | MPWR | 3.16% | | | CEG | 2.958% | | | TSLA | 2.781% | | | | | | | | | Overall, we reverse our previous cautious stance and turn positive on alternatives vs publicly traded traditional asset classes, given the significant narrowing in the gap between private vs. public market valuations and given improving fundraising. | | - Nikolaos Panigirtzoglou, analyst at JPMorgan Chase, on the rising investor interest in alternative investments following a decline in 2023 after two years of outperforming the rest of the market. | | |
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