Tale of the Tape
Good evening, y’all! Today was a turnaround Tuesday!
Every major index inched higher while the small-caps continued on their quest.
Utilities and energy tied as today’s strongest sector. The technology ETF $XLK closed at its highest price since September 2nd. Will tech tick a new all-time high? Time will tell…
Bitcoin bopped to 19,500 again. We’re still waiting for the crypto to crack 20K…
Apple advanced 5% as the company expects strong iPhone demand heading into 2021. $AAPL also closed at its highest price since September 2nd. See more on America’s Apple below.
The sun was hot and solar surged 8% closing at its highest price since January 2010. ☀️
Here are the closing prints:
An Apple a Day Keeps. . . The Investors Happy
iPhone sales are experiencing Gs after introducing 5G.
According to a Nikkei report, Apple will produce 95-96 million iPhones in the first half of 2021 — that’s up almost 30% YoY. 📈
$APPL was up 5.01% and closed at its highest price since early September. Here’s the daily chart:
What’s Up, Jack?
Twitter has made headlines for many reasons lately.
The company was fined by the European Union and will pay $546K after it failed to promptly notify regulators of a data breach.
Additionally, Twitter announced that it will unplug Periscope by March 2021. This comes a week after the company acquired the virtual hangout app Squad and announced its integration with Snap.
Who knows what Jack is thinking. 🤔
Today, $TWTR gained 1.60% and closed at a new 5-year high. Maybe investors are pleased with the progress? Place your bets…
Greg Rieben shared this weekly chart on Stocktwits and said:
Twitter broke out of a long standing down trend with a successful test of prior resistance which has now become support.
Is Twitter ready to take off? Perhaps. 🤷♂️
Lilly Acquires Prevail Therapeutics
Eli Lilly will buy the gene therapy company Prevail Therapeutics for $1.04B. $LLY gained 6% while $PRVL soared 82%.
$LLY will purchase $880M upfront, with $PRVL valued at $22.50 per share. For a grand total of $160M, shareholders also receive a contingent value right worth up to $4 per share.
M.D. Mark Mintun, VP of Pain and Neurodegeneration Research at Lilly, said:
The acquisition of Prevail will bring critical technology and highly skilled teams to complement our existing expertise at Lilly, as we build a new gene therapy program anchored by well-researched assets. We look forward to completing the proposed acquisition and working with Prevail to advance their groundbreaking work through clinical development.
It’s Official 🇺🇸
The electoral college formally declared Biden’s victory last night. The final score?
Donald Trump: 232
Joe Biden: 306
Yesterday, the Supreme Court denied Texas’s lawsuit attempting to extend last night’s Electoral College deadline… and then Pennsylvania, Michigan, Wisconsin, Georgia, Arizona and Nevada all cast their official votes for Biden.
Joe Biden will be the 46th President of the United States. 🇺🇸 🦅
Greek Freak Signs Freak Contract
Giannis Antetokounmpo, the reigning (and back-to-back) NBA MVP announced on Twitter that he will resign with the Milwaukee Bucks.
His supermax contract is worth more than $228M over the next five years. That works out to $150k per quarter. 😮
That’s not the only news to come out of Milwaukee today — Adam Schefter reported that Microsoft, the Milwaukee Bucks, and the Green Bay Packers have come together to form a VC called ‘TitletownTech.’
We know Giannis can dunk. And Rodger can throw a football over a mountain. But wait until you see what Gates can do.
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
*💹 IBD is offering 12 days of discounts on MarketSmith, SwingTrader and more! What’s today’s deal? Go here to find out…
🖥️ Community Takes All: The Power of Social+
🍿Millennials Like to Trade…Not Just Chat…an Update and Stocktwits and Robinhood Integration
📊 Custom Indexing is THE Investing Mega Trend of 2021
🌩️ Winter Storm to Test New York City’s Outdoor-Dining Program
🏈 Lamar Jackson Cramps, Comes Back and Saves the Ravens’ Season
✈️ Airlines in Line for $17 Billion in Pandemic Relief Proposal