Tale of the Tape
Good evening, folks. Welcome back to the market of stocks!
The major indices were pretty mellow on this fine Monday. The Nasdaq was the only major index to close positive.
Energy was the weakest sector. Communication services and utilities both gained over 0.5%.
Gold gained 1.5%. If you step back, you can see $GLD sits at former resistance dating back a decade. Where will the rock go? Nobody knows…
Here’s the unfinished $GLD monthly chart:
Palantir popped 20% after it was awarded a government contract. Hear Shake’s take on tonight’s episode of After Hours.
Rumor has it Apple’s testing chips that could rival Intel. $AAPL gained 1.2%. INTC fell 3.4%.
Lemonade squeezed to $99.99 but closed at $91.72. Who knows when it’ll cross the C-note.
Tesla ticked another all-time high today. The stock was up 7% and Elon’s EV maker is now worth more than $600B. Sheesh.
Here are the closing prints:
| S&P 500 | 3,691 | -0.19% |
| Nasdaq | 12,519 | +0.45% |
| Russell 2000 | 1,891 | -0.06% |
| Dow Jones | 30,069 | -0.49% |
Earnings Round-Up
JinkoSolar reported earnings early this morning. The company posted a new record for module shipments of 5,117 MW, +53.8% YoY.
EPS: $1.06 vs $0.85 est.
Revenue: $1.29B +17% YoY
The solar stock dropped 5% and closed at its lowest price since Nov. 4th.
Here’s the daily chart:
Despite today’s drawdown, $JKS is still up 159.5% in 2020.
Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer, shared:
JinkoSolar delivered solid results for the quarter with total revenue, total solar module shipments and gross margin all within our guidance range… By the end of 2020, we expect our in-house annual monocrystalline silicon wafer, solar cell and module production capacity to reach 20 GW, 11 GW and 30 GW, respectively…
Solar power has had the largest cost reduction in recent years, and we believe there is more room for growth next year. We are well positioned to capitalize on the accelerating global demand for clean energy and the expected rapid growth in shipments in 2021.
Read the press release here.
Coupa Software reported third quarter results after the bell today. The software company crushed Wall St. estimates as revenue rose 31% YoY.
Here are the stats:
EPS: $0.18 vs $0.03 est.
Revenue: $133M +31% YoY
Coupa CEO Rob Bernshteyn said:
We were very pleased to deliver over 30% year-over-year billings growth, as well as another quarter of record revenue. As we approach the end of the year with a focus on resilience and long-term market dominance, we continue to be assertive in expanding our comprehensive Business Spend Management platform to address all spend, unlocking value and profitability for the ever-growing set of customers in our community.
$COUP climbed 4% after hours. 🧗
Stitch Fix beat on revenue, raised guidance, and also posted a surprise profit. Damn. Aside from smashing earnings, the personal styling company snatched an executive from Amazon to be its next CFO.
Here are the numbers:
EPS: $0.09 vs ($0.20) est.
Revenue: $490.04M +10% YoY
And here’s a visual from the shareholder letter:
$SFIX soared 35% after hours. 🚀
Pfizer and Astrazeneca Seeking EUA in India
Pfizer and Astrazeneca are not content with waiting to save lives.
While both companies wait for US authorization, Pfizer was just granted approval for use of its COVID-19 vaccine in India. Pfizer was also recently granted EUA in the UK and Bahrain, too.
India’s prime minister expects vaccines to be ready in the next couple of weeks, with a vaccine program coming “after a nod from the experts.”
This could be a big plus for other nations — if approved, vaccine makers could ramp up production in India, one of the largest manufacturing hubs in the world.
We’ll wait for more info from India.
A “Rock” Solid Investment
Forbes reported that Dwayne “The Rock” Johnson’s Teremana Tequila is set to sell >300K 9L cases in its first year.
That’s almost double the amount of cases Clooney was selling when he exited his Casamigos tequila brand. Take that, George!
The company’s biggest problem? Figuring out ways to keep up with demand. Although, Co-Founder Jenna Fanan said “it’s a good problem to have.”
Other than not being able to fit in a sports car, it seems like there’s nothing The Rock can’t do.
The Times, They Are A-Changin
Bob Dylan sold his entire song catalogue to Universal Music Group for a deal estimated to be worth more than $200 million.
He sold high, too. There’s been a five-year expansion in the music industry that has led to similar deals, like Stevie Nicks’ $100 million sale of her songwriting last week.
We have a feeling that Dylan, aged 79, might be set up for a pretty comfy retirement.
It’s Electric 🔋
Lunaz continues to electrify classics for the new world. Most recently, the UK design company converted 50 vintage Range Rovers dating from 1970-1994 to electric drivetrains.
The company said:
The definitive British SUV, electrified for 2021.
An icon is reborn and made read for a clean-air future with the introduction of the Classic Range Rover by Lunaz. These recycled and re-engineered examples of the world’s most celebrated off-road vehicle adds an entirely new dimension of usability and reliability. Available in ‘Town’ specification, with the focus on rear and front seat luxury or full four-wheel drive ‘Country’ configuration for those that wish to enjoy zero-emission classic motoring in all conditions.
For a light £245,000 or ~$327,000, buyers will have a complete custom classic Range Rover EV. Here’s The Driven with more.
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
📈 Airbnb Boosts IPO Price Range to Between $56 and $60 a Share
😬 Interactive Brokers Hit by ‘Significant Failure’ on Platform
🍻 How to Set Up the Ultimate Portable Après Bar
💰 Some Small Hedge Funds Reap Big Gains in Tough Times
⛰️ Everest Gets an Altitude Adjustment: Nepal and China Agree on Height
