Tale of the Tape
Good evening, folks. The market of stocks marched on.
Every major index closed higher while the Russell 2000 continued its incredible run.
Real estate, basic materials, and healthcare all gained more than 1%. Energy lagged and lost 0.47%.
Bitcoin bopped. The crypto cracked 23,775 today. What’s next, 100K? 🤷♂️
The US Dollar Index dove 0.75% as $DXY fell to its lowest level since April 2018.
Some stocks were hot.. MongoDB was a monster. $MDB marched 10% and is up 276% since its March low.
Tesla ticked another all time high. The stock gained 5% and closed above $650 for the first time ever.
$PENN is on a pursuit. The stock is up 23% since December 11 and closed at 91.54 today. Can Penn National cross the century mark? Place your bets…
Airbnb even checked-out at a new all time high. That said, the stock closed $18 off its Day 1 high. Some folks are still underwater. 🌊
Here are the closing prints:
| S&P 500 | 3,722 | +0.58% |
| Nasdaq | 12,764 | +0.84% |
| Russell 2000 | 1,978 | +1.30% |
| Dow Jones | 30,303 | +0.49% |
Crypto Is Going Crazy
Bitcoin broke 20K and now the crypto crowd is coming out.
Digital currency exchange Coinbase Global, Inc. reported that it’s going public.
The company announced it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions.
Coinbase, headquartered in California was founded in 2012 and has been a hot-spot for crypto trading. It is now the largest digital currency exchange in the United States.
Earnings Round-Up
BlackBerry posted a Q3 earnings beat while highlighting exciting new technology releases and partnerships.
Here are the details:
EPS: $0.02 vs ($0.01) est.
Revenue: $224M -20% YoY
John Chen, CEO of BlackBerry said:
We are pleased to report solid financial results this quarter, delivering sequential software and services revenue growth in line with our outlook. This quarter we delivered exciting new technology releases, especially our AIdriven BlackBerry® Cyber Suite. We also made significant progress with partnerships.
$BB was flat after hours.
FedEx reported strong second quarter results after the bell. Revenue grew 19% YoY.
Here are the numbers:
EPS: $4.83 vs $3.90 est.
Revenue: $20.6B +19% YoY
Here’s a cool infographic:
$FDX fell 3.5% after hours.
Accenture beat on top and bottom lines for Q1 fiscal 2021 this morning. $ACN leaped 7% today and closed at new highs.
Here are the stats:
EPS: $2.17 +8% YoY
Revenue: $11.8B +4% YoY
Julie Sweet, Accenture’s CEO, said:
I am pleased that we delivered first quarter revenues above our expectations, with broad-based improvement across industries and geographic markets, reflecting the relevance of our services, the strength of our growth strategy and the advantages of our scale in digital, cloud and security. New bookings, profitability and free cash flow were all very strong, and we again returned substantial cash to shareholders while continuing to invest in our business and our people.
Tractor Of The Year 🔋
Monarch Tractor has produced the world’s first fully electric and autonomous tractor. 🚜
The company addresses climate change, labor shortages, safety concerns, etc. by combining electrification, automation, machine learning, and data analysis to help the farmers of the future.
Praveen Penmetsa, co-founder of Monarch Tractor said:
Monarch Tractor is ushering in the digital transformation of farming with unprecedented intelligence, technology and safety features.
Here’s Monarch with more.
From [Redacted] with love
Today, the Russian international sports ban was cut in half, from four to two years, by the Court of Arbitration of Sport.
During this ban, Russia will miss two olympic games (Tokyo 2021, and Beijing 2022), as well as all other international sport competitions.
Individual athletes can be cleared to compete by a panel of authorities, but they’ll have to compete under a neutral flag and won’t be able to wear a Russian uniform (or hear the Russian national anthem.)
The Russians may have been doping, but they probably don’t think this punishment is dope.
Panic With Friends 🍿
Need more panic in your life? Christine Marchese discusses her latest venture – Storyspaces, which allows people to organize their own movie events both in person and virtually.
She shared:
The idea was, can we build something that takes ourselves out of it and connects this network of people and spaces to these amazing films that we curated that are both new releases and rereleases, and have people go from there? And that’s what we’ve been doing for the past few months.
Catch her conversation with Howard here.
“Is that all you’ve got?” – Google (probably)
Three more states asked to join the antitrust lawsuit against Google today, enlarging the third filing against the search giant.
Despite that, the stock barely budged. $GOOG only fell 0.86%.
We’ll wait to see how the case continues. Here’s the WSJ with more.
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
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📈 Five Commodity Themes for 2021
🎿 A Brief Excursion into Skiing’s Cyborg Future
🛫 NC, Ohio, celebrate Wright brothers’ first flight
₿ The Killer B’s …Biotech and Bitcoin
🔋 GM’s $27 Billion Electric Bet Begins With Bad-Boy Hummer Truck
📉 Robinhood Financial to Pay $65 Million to Settle SEC Probe
