Tale of the Tape
Good evening folks and welcome back to the greatest casino on God’s Green Earth.
Stocks rallied today. The S&P 500 rose 1% for its highest close in over a month. We’re now a measly 5% from February’s all-time closing high.
The morning began with a lift on positive COVID vaccine news from Moderna and held the majority of gains to the close. See more below.
For the third day in a row, big cap tech underperformed with the Nasdaq 100 closing flat, while the small cap Russell 2000 ramped 3.5%. Crazy AF if this leadership change sticks.
Still, Apple managed an all-time high and its market cap approached $1.7T – the largest US company and second only to Saudi Aramco worldwide.
Airlines, Hotels, Cruise Lines, and Leisure stocks in general outperformed like crazy. There’s a ton of pent up fun to be had so “Open The Nation” anticipation is tweaking. See more below.
| S&P 500 | 3,226 | +0.91% |
| Nasdaq | 10,550 | +0.59% |
| Russell 2000 | 1,478 | +3.50% |
| Dow Jones | 26,870 | +0.85% |
Portnoy’s Revenge
Penn National Gaming, Airlines, and the cruises ripped your freaking face off today, in part, off the Moderna vaccine news.
$PENN rose 18%, the Airlines ETF $JETS gained 7.72%, and Royal Caribbean was the best performing stock in the S&P 500 moving up 21%. Sheesh.
This combo was a trifecta for Bartsool’s Davey Daytrade Portnoy who is long and loud the combo.
Talk all you want about Portnoy’s shenanigans but this is a play on America really – on an optimistic ideal that we will prevail this vulnerable moment, reopen the economy, and get back to the important stuff like vacationing and gambling.
Shout out Davey Daytrade and may Cam show out to boot.
Earnings Round-Up
Goldman Sachs
EPS: $6.26 vs $4.26 est.
Revenue: $15.4B +8.7% YoY
See the press release here.
UnitedHealth Group
EPS: $7.12 vs $5.08 est.
Revenue: $62.1B +2.5% YoY
See the press release here.
GoHealth IPO
GoHealth is a health insurance tech company headquartered in Chicago, Illinois.
Here’s a little bit about the company,
At GoHealth, we pioneered the health insurance technology industry. We started out as innovators with big ideas who transformed into industry leaders. Similar to health care, our technological approach is constantly evolving, but our main goal has and always will be the same: to provide families and individuals with affordable health insurance.
GoHealth was expected to raise $751 million, or 39.5 million shares estimated at $18 to $20/share. Instead, the company raised 43.5 million shares at $21/share.
Unfortunately, $GOCO traded lower all day closing just off the lows. Not all IPOs double day 1. 🤷♂️
COVID vaccines, Moderna & Oxford.
This morning, data published in the New England Journal of Medicine suggests Moderna Therapeutics’ COVID vaccine triggers an immune response and is thus ready for its Phase 2 trial.
Here’s more info.
Oxford University also reported positive results for a COVID vaccine. After the close the following hit the tape,
Oxford Scientists Believe They Could Have Breakthrough
Here’s more from The Telegraph.
ST After Hours
We’re running it back. This time Stocktwits After-Hours will be a short 3-5 minute podcast updating you on the most important action of the day.
Here’s the pilot.
Please let us what you think, and if any of y’all wanna make the intro, shoot us an email here.
$SPCE Switching It Up
Michael Colglazier, former president and managing director of Disney Parks International will take over as new CEO of Virgin Galactic come next Monday. Earlier today, $SPCE stated that George Whitesides would be stepping down from CEO.
The stock closed up 0.65% today and was up an additional 5% in after-hours trading.
Crypto Hackers Are Not Playin’
This afternoon, hackers attacked numerous Twitter accounts belonging to high-profile individuals. The list of names include Elon Musk, Jeff Bezos, Kanye West and Joe Biden to name a few.
$TWTR is down almost 4% in after-hours trading.
Earnings Tomorrow
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
🐦 White Storks Are Nesting in Britain Again, After 606 Years
🛹 Hanging at The Hawk’s Nest: The Birdmanramp Photo Feature
🏥 Supreme Court Justice Ruth Bader Ginsburg Discharged From Hospital
🧪 Bloom Energy Announces Initial Strategy for Hydrogen Market Entry
🐄 Microsoft Courts New Customers: Cows
🌌 Mystery over Universe’s expansion deepens with Fresh Data
