The Cinema Is On Hold

Tale of the Tape

Good evening, everyone. Wall Street surged to start the week.

The small-cap Russell 2000 led while the Nasdaq followed closely behind. Every major index gained 1.5%. 

Every sector was green. Energy surged 3%. Tech and healthcare were both up 2%.

Semiconductors soared. $SMH closed at its second-highest price ever.

Solar shined bright. $TAN +6%.

Regal Cinema will temporarily close its US theaters. More on this below.

President Trump will be discharged from Walter Reed at 6:30PM ET today. Here’s the latest from The White House.

Here are the closing prints:

S&P 5003,408+1.80%
Russell 20001,581+2.77%
Dow Jones28,148+1.68%

🌌 Stocktwits After Hours

Today on After Hours:

The “Miracle Drug” Rallies 8%
DraftKings 32M Stock Offering
Alteryx Jumps 20% AH

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The Cinema is On Hold

Regal Cinema will temporarily close its 500+ US locations on Thursday. 

Cineworld, parent of Regal Cinema, will also close its locations in the UK.

Cineworld CEO, Mooky Greidinger wants blockbuster movies to help attract customers.

Greidinger said:

We are now like a kind of a grocery shop that has no food to sell.

Here’s CNBC with more.

Cinemark lost 17%. AMC fell 11%.

I’ll Venmo You 

Venmo released its first credit card today to select customers. 

The card gives 3% back to customers for their top spending categories (Grocery, Entertainment, Dining, etc.) and offers a variety of fun features to track finances

Venmo’s card also doesn’t charge an annual fee but it does charge for cash advances, late payments, returned payments, and interest. 

APRs fall between 15.25% and 24.24%. 

Meet Maxine, by Nvidia

Nvidia ($NVDA) just launched Maxine, an AI platform for video conferencing. 

Maxine uses AI to boost streaming quality, resolution, lighting, and noise cancellation. The cloud-based streaming platform also cuts bandwidth to a tenth of the typical H.264. 

Avaya ($AVYA) plans on using Maxine’s technology in its own video conferencing app. Avaya said: 

…[its customers] will benefit from background noise removal, virtual green screen backgrounds, rich presenter features enabling presenters to be overlaid on top of presentation content, as well as live transcriptions that can recognize and differentiate voices.

Read more here

Toyota’s EV Truck🔋 

Toyota and Hino Trucks are collaborating to develop a Class 8 electric truck

A prototype will be available in early 2021. The EV features heavy-duty capability, Toyota’s fuel cell technology, and zero harmful emissions. 

Toyota’s executive engineer said: 

A fuel cell powered version of the Hino XL Series is a win-win for both customers and the community. It will be quiet, smooth and powerful while emitting nothing but water.

So cool. 👏👏👏

Here’s the official press release.

Earnings Ahead

Be sure to know when your stocks report earnings. Here’s the earnings calendar.

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