$SPOT Was Hot

Tale of the Tape

Good evening, folks. Happy hump day!!!

The major indices were mellow but internally, stocks shot in every direction.

The Nasdaq was the only major index in the red. It was only down 0.05%, though. 🤷‍♂️

Energy was the strongest sector followed by financials. Real estate and basic materials both lost over 1%. 

Morgan Stanley marched to its highest price since November 2007. h/t Carl Quintanilla

Here’s the $MS monthly chart:

Everyone is wrapped up with Spotify Wrapped. Yesterday, the media streaming platform released the hottest trends in 2020. Today, $SPOT shot higher. The stock soared 12.6% and closed at a new all-time high.

Salesforce sank 8.5% after it announced its acquisition of Slack and reported earnings last night. 

Palantir got pummeled and had its worst day since its IPO. However, $PLTR is still up 137% since it started trading. 

$SNAP sailed 6% and closed $0.01 off its intraday high. 💪 The stock is up 35% since it reported earnings in mid-October.

A handful of software stocks reported earnings after the close. Listen here to find out what’s happening After Hours.

Here are the closing prints: 

S&P 5003,669+0.18%
Russell 20001,838+0.11%
Dow Jones29,883+0.20%

Earnings Round-Up

Snowflake reported 119% revenue growth in its first public earnings report. $SNOW fell 6% after hours.

Here are the results:

EPS: ($1.01) vs ($0.26) est.
Revenue: $159.6M +119% YoY

And here’s a visual from the report:

Zscaler beat both earnings and sales estimates for First quarter Fiscal 2021 results. Earnings grew 367% YoY while revenue increased 52% YoY.

Here are the results:

EPS: $0.14 vs $0.06 est.
Revenue: $142.6M +52% YoY

Jay Chaudhry, CEO of Zscaler, said:

Our customers are accelerating their digital transformation, and this drove our strong first quarter results. Organizations are turning to the Zscaler™ Zero Trust Exchange platform for the right security architecture, which can be implemented easily and rapidly. Our visibility and business momentum remain strong, and we are pleased to increase our fiscal year guidance.

$ZS zipped +9% after-hours.

CrowdStrike Holdings released Q3 earnings today after the bell. The cybersecurity company crushed on top and bottom lines. 

Here are the stats:

EPS: $0.08 vs $0.01
Revenue: $232.5M +86% YoY

CrowdStrike CEO George Kurtz said:

CrowdStrike delivered a record third quarter with results exceeding our expectations across the board. Broad-based demand and strength in multiple areas of the business fueled our rapid 87% year-over-year subscription revenue growth, record net new ARR of $117 million an record 1,186 net new subscription customers. CrowdStrike’s robust growth at scale underscores our growing leadership in the Security Cloud category and the immense value we deliver to customers seeking to transform, consolidate and fortify their security posture.

$CRWD cruised 13% after hours.

Okta rounds out earnings for tonight. The cloud company’s earnings grew 157% YoY.

Here are the numbers:

EPS: $0.04 vs ($0.01) est.
Revenue: $217.4M +42% YoY

$OKTA climbed 6% after hours.

UK Gave Pfizer The OK

UK health authorities just authorized Pfizer’s COVID-19 vaccine for emergency use. 🙌

An estimated 40M doses of the mRNA vaccine will be delivered to the UK in 2020 and 2021. Vaccinations are prioritized to at-risk populations first.

Pfizer’s CEO Albert Bourla commented on the good news: 

Today’s Emergency Use Authorization in the U.K. marks a historic moment in the fight against COVID-19. This authorization is a goal we have been working toward since we first declared that science will win, and we applaud the MHRA for their ability to conduct a careful assessment and take timely action to help protect the people of the U.K.

US authorization should come sometime in December. Is the end of the pandemic near? Time will tell…

Here’s Pfizer’s press release

Porsche E-Fuels 

Porsche, Siemens Energy, and others are developing a pilot project in Chile to make the world’s first commercial plant for producing eFuels.

Nearly 130,000 liters of eFuels will be produced as early as 2022. Capacity will be increased to around 55M liters of eFuels per year by 2024. 

Porsche CEO Oliver Blume commented:

Electromobility is a top priority at Porsche. eFuels for cars are a worthwhile complement to that – if they’re produced in parts of the world where a surplus of sustainable energy is available. They are an additional element on the road to decarbonization. Their advantages lie in their ease of application: eFuels can be used in combustion engines and plug-in hybrids, and can make use of the existing network of filling stations. By using them, we can make a further contribution toward protecting the climate. 

The Global X Autonomous & Electric Vehicles ETF ($DRIV) is up 50% YTD. The SPDR Energy ETF ($XLE) is down 30% YTD. 

Are we in the EV era? Time will tell…

Uber Bummer…

Uber might sell “Uber Elevate,” the rideshare company’s air taxi business, to Joby Aviation. 

Hyundai was originally going to help create the electric air taxis, but Uber’s pandemic-related cost cuts changed things.  

Uber cut 23% of its whole workforce in May and may even sell its self-driving business. 2020 has been tough. 

Here’s Reuters with more info. 

Home For The Holidays

Check out this holiday hideaway located in San Miguel de Allende, Mexico.

The owner requested that no trees be cleared. The architect behind the build, Fabián M Escalante, said:

The most important requirement was to keep, completely, all trees in the plot. Therefore, the first approach to the project was to know perfectly the site and the exact position of the vegetation.

In addition to maintaining the landscape, the studio sourced all-local products. 👏👏👏

Here are a few photos:

What a peaceful place. 🙏 

Here’s Dezeen with more. 

Earnings This Week

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

Links That Don’t Suck

🎿 Europe Cracks Down on Ski Tourism to Stem Covid-19 Infections

📫 UPS Places Shipping Limits on Some Retailers as Holiday Shopping Heats Up, Report Says

💸 Amazon in Talks to Buy Podcast Maker Wondery – WSJ

🎶 6 New Features to ‘Unwrap’ in Your Spotify 2020 Wrapped — Spotify

🏈 The Offense and Defense of Trading – The ReThink Group

📉 U.S. Imports of Saudi Crude Oil Fall to Lowest in Three Decades

Airbnb: The Disaster Artist…And 8 to 80 Portfolio Ready at IPO