Did $IBM Find Its Footing??

Tale of the Tape

Good evening, y’all!! 🤠

The market of stocks had a mellow Monday. Every major index closed lower, though the Russell 2000 was the only major index to flop more than 1%. 

Real estate was the strongest sector, rallying 0.3%. $XLRE is still stuck below its pre-covid all-time high. 🤷 Here’s the daily chart:

Healthcare finished flat. Tech tumbled 0.8% while consumer discretionary dropped 1.1%. 

Crypto also had a quiet day— both Bitcoin and Ethereum maintained their previous day’s range, but Doge didn’t stop. The Memecoin cruised ~20% and sits 4 cents from its all-time high.  

$FUTU flew 16% and closed at its highest price since February 19, 2021. The stock ticked above $200 intraday… but can it close over the round figure?? Who knows. 🤷‍♂️

Gambling stocks struggled— $PENN plopped 7% while $DKNG dropped 2.24%. As of today, $PENN is only up 7.7% YTD.

Lumber futures went limit up. $LB_F has had only one down day in over a month. 🤯 Here’s the daily chart:  

IBM and United Airlines reported earnings After Hours. 🌌
See the round-up below. 

Tomorrow is 4/20— will the pot stocks pop?? 🚬  🌈 Place your bets… 

Here are the closing prints: 

S&P 5004,163-0.53%
Russell 20002,232-1.36%
Dow Jones34,077-0.36%

Earnings Round-Up

Harley-Davidson — $HOG

The company crushed estimates on both top and bottom lines: motorcycle and related products’ revenue reved 12%. 🔥

Here are the numbers:

EPS: $1.68 vs $0.88 est
Revenue: $1.42B, +10% YoY

CEO Jochen Zeitz is excited about the company’s future: 

We can see the initial signs of consumer excitement and optimism returning and I am confident Harley-Davidson in 2021 is a significantly leaner, faster, and more efficient organization which is ready to win and successfully deliver on our 5-year Hardwire strategy, as the most desirable motorcycle brand in the world.

$HOG gapped up and ticked its highest price since October 2018. Here’s its incomplete weekly chart:


IBM finally bounced back and reported its first quarter with revenue growth in over a year. 🤗

Here are the numbers:

EPS: $1.77 vs $1.63 est
Revenue: $17.73B, +0.9% YoY growth

IBM CEO Arvind Krishna shared:

Strong performance this quarter in-cloud, driven by increasing client adoption of our hybrid cloud platform, and growth in software and consulting enabled us to get off to a solid start for the year.

$IBM gapped up ~3% after hours. The stock is trading at its highest price pre-pandemic. Here’s the daily chart:

United Airlines — $UAL

United’s still struggling, but the airline offered optimistic guidance for Q1. 

Here are the numbers:

EPS: $-4.29 vs $-6.89 est
Revenue: $3.2B, -66% YoY growth

$UAL dropped ~2% after hours. 

Tough Treading

If you’re a proud Peloton owner and active user of the Tread+, you may want to check out the US Consumer Product Safety Commission’s latest warnings

The CPSC just issued a warning for Peloton’s Tread+ after “multiple incidents of small children and a pet being injured beneath the machines.”

The CPSC emphasized caution for Tread+ users with pets and children. So far, Tread+ has caused 38 accidents and one child’s death. The CPSC claims “[Tread+] poses serious risks to children for abrasions, fractures, and death resulting from children becoming entrapped, pinned, and pulled under the rear roller of the product.” 

Peloton CEO John Foley expressed: 

While we are aware of only a small handful of incidents involving the Tread+ where children have been hurt, each one is devastating to all of us at Peloton, and our hearts go out to the families involved. 

We’ve heard from the CPSC and Peloton’s CEO, but what about actual consumers…? 🤔 Rachelstocks shared her take today on Stocktwits:

This is my baby. Every *baby* product I have bought for her has killed babies. Her crib came with a warning that it could kill her. Her swing, her bassinet, her little rocker, each one. Not to mention pretty much *every single normal household item.* 

I have no idea about the stock price. But this should not be an indictment of the product itself. 

You know what’s a lot more dangerous and kills a lot more babies each year? Stairs. So PSA: all homes should be on one level only. Definitely you should not have stairs. 

Pitbulls, on the other hand, are great with kids and I highly recommend getting one. 🐶💞💞💞😊😇

$PTON dropped 7.3%— here’s the daily chart:

Nixing Nicotine?

According to reports, the Biden administration is considering a policy which requires all US-sold cigarettes to adopt lower, less-addictive nicotine levels.

The news comes as the administration debates another cigarette conundrum—whether or not to ban menthol cigarettes. The FDA only has 10 days to respond to a court case regarding a citizen’s petition to ban menthols.

It’s important to note that Nicotine itself isn’t the cause of cancer, heart disease, or lung disease. 💡 It’s just responsible for the addictive nature of substances.

Tobacco companies are not happy, saying any required change in nicotine levels should be backed by scientific evidence.

Will the FDA crush cigarettes? 🥊 Only time will tell…

Goodbye, Gamestop

$GME CEO George Sherman announced his official resignation today.

As the Memestock company shifts its business from brick-and-mortar to e-commerce, Sherman decided to step down on or before July 31. 

The company is actively looking for new CEO candidates but has not disclosed Sherman’s official successor. Here’s CNBC with more. 

Adidas Goes Alternate

Adidas revealed a new addition to its iconic Stan Smith line—and it’s made of mushrooms.  🍄 👟

The shoes aren’t actually as weird as they sound. Adidas will use mycelium, the vegetative part of a fungus made from a network of fine white filaments. Mycelium is gaining popularity in the fashion scene as a more sustainable form of leather.

Adidas, however, gets bragging rights. The brand’s new Stan Smiths will be the first high-performance footwear ever made from mycelium. 💪

Jamie Bainbridge, VP of Product at Bolt Threads (the mycelium company collaborating with Adidas) shared:

By creating the iconic Stan Smith with a Mylo material upper, Adidas is demonstrating the far-reaching potential of this innovative material.  Mylo has the strength and performance it does today thanks to the guidance and deep technical expertise of the Adidas team in making great footwear.

Would you rock fungi footwear? 💭

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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