Tesla Took Off

Tale of the Tape

Good evening, folks. Happy hump day. 🐪

The market of stocks was sluggish. Every major index finished negative. The Russell 2000 ticked an intraday all-time high, but then the small-caps got sold.

All the sectors struggled. Energy nearly lost 3%. Industrials was the strongest sector. $XLI only dropped 0.50%.

Bitcoin bounced above $18K. The cryptocurrency is creeping towards all time highs. Will Bitcoin break $20K? Time will tell.

Tesla took off. The stock popped and is now up 19% since S&P Global announced that it would be included in the S&P 500. More on this below. 

Boeing briefly bounced after the FAA cleared the 737 MAX for take off. $BA gapped up +6%, but gave it all back. The stock lost 3.2%. 

This afternoon, New York City closed public schools as COVID continues to spread. Pfizer and BioNTech shared some good news about its Phase 3 vaccine trial, though. See more below.

Here are the closing prints: 

S&P 5003,567-1.16%
Russell 20001,769-1.26%
Dow Jones29,438-1.16%

Earnings Round-Up

Target exceeded Q3 expectations as the retailer’s curbside pickup service grew > 500%.

Here are the stats:

EPS: $2.79 vs $1.60 est.
Revenue: $22.63B vs $20.93B est.
Same-store sales: +20.7% vs 11.2% est.

$TGT gained 2.3%.

Lowe’s just missed estimates. Same-store sales grew over 30% with online sales doubling.

Here are the numbers:

EPS: $1.98 vs $1.99 est.
Revenue: $22.31B vs $21.25B est.

$LOW lost 8.21%.

Nvidia beat on top and bottom lines for Q3, revenue grew 57% YoY.

Here are the results:

EPS: $2.91 vs $2.57 est.
Revenue: $4.73B vs $4.41B est.

Jensen Huang, CEO of NVIDIA said:

NVIDIA is firing on all cylinders, achieving record revenues in Gaming, Data Center and overall. The new NVIDIA GeForce RTX GPU provides our largest-ever generational leap and demand is overwhelming. NVIDIA RTX has made ray tracing the new standard in gaming.

$NVDA was down 2% after-hours.

Sonos is screaming higher after the company reported Q4 earnings. 

See the numbers here:

EPS: $0.33 vs $0.00 est.
Revenue: $339.8M vs $298.8M est.

Sonos CEO Patrick Spence shared this:

We reached an inflection point in the fourth quarter that demonstrates the power and profitability of our model. As our customers recognize, Sonos products operate seamlessly together, with more products improving the experience. That’s why year in and year out, our existing customers add more products to their systems – every new household that we gain starts that cycle anew.

$SONO is up 23.5% after hours and the stock is trading at prices not seen since September 2018. Will Sonos soar through its IPO highs? Place your bets…

Here’s the unfinished weekly chart:

Tesla Took Off

Tesla charged up 10%. Elon’s EV maker is now up 19% since news broke that it would be added to the S&P 500. 

Yesterday the stock gapped up, but failed at former highs. Today, $TSLA ripped and rallied to close at its second highest price ever.

Check out the daily chart:

And here’s the unfinished monthly because why not. Wowza.

Boeing’s 737 MAX Can Fly Again

After two crashes in 2019, the FAA cleared Boeing’s 737 MAX for take off. 

Last year, the aerospace company recalled the 737 MAX as the accidents killed 346 people.

The planes have all-new safety designs. Now, Boeing’s design changes supposedly make future accidents “impossible.”

Here’s Boeing’s CEO on the end of the flight ban: 

We will never forget the lives lost in the two tragic accidents that led to the decision to suspend operations. These events and the lessons we have learned as a result have reshaped our company and further focused our attention on our core values of safety, quality and integrity.

Here’s more from the Chicago Tribune.

$BA gapped up early on the news but the stock sold off. 

Here’s the daily chart:

Pfizer Vaccine Update 

Today, Pfizer and BioNTech confirmed 95% efficacy for the Phase 3 trial of their COVID-19 vaccine

In adults over 65, efficacy was found to be 94%.  🙌

The drug companies found minimal side effects apart from fatigue or headaches from injection. 

Also… Pfizer and BioNtech got FDA approval for Emergency Use Authorization (EUA) of the vaccine! Pfizer Chairman Dr. Albert Bourla said this about possible distribution: 

The study results mark an important step in this historic eight-month journey to bring forward a vaccine capable of helping to end this devastating pandemic. We continue to move at the speed of science to compile all the data collected thus far and share with regulators around the world. With hundreds of thousands of people around the globe infected every day, we urgently need to get a safe and effective vaccine to the world.

As we near the end of the worst year ever, good news feels good. 

Here’s the press release

🌌 Stocktwits After Hours

Tonight on After Hours:

Are We Heading For More Lockdowns?
Big News For Boeing
Target and Nvidia Earning Review

Listen here: Spotify | Apple | Google

Earnings This Week

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

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♣️ Beat The Reformed Broker at Poker – We’re Playing for a Good Cause!

Starting At The Start

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