Tale of the Tape

Good evening, everyone. It was a happy hump day— every major index hopped higher!! 🐪 💚

The Russell 2000 rallied 2.35%, making up for yesterday’s dip and then some. The Nasdaq Composite inched up 1.19% while the S&P 500 and Dow Jones both dashed 0.93%. 

Utilities was the only sector to close in negative territory. Basic materials bounced 1.8%. Financials, industrials, consumer discretionary, and energy all surged 1.3%.

Healthcare hiked up 1.2% as $XLV flew to its 5th consecutive all-time high. Here’s the daily chart:

Crypto was mixed, but quiet— Bitcoin broke down 2.5% while Ethereum surged 3.4%. Doge dipped 2.73%. Is crypto gearing up to go crazy?? 🤑 Time will tell… 

Gold galloped. Vaneck Vectors Gold Miners ETF $GDX gained 1.74% and closed at its highest price since January 7, 2021. 

The medical devices ETF $IHI advanced 2.13% and closed at a new all-time high.

Draftkings dashed 5.51% while $PENN popped 3.94%. The gambling stocks gained as New York will be the next state to legalize sports betting. 🎲 🏈 Here’s SI with more.  

IBM marched 3.9% and closed at its highest price since February 24, 2020. $HOG emerged from its fog. The motorcycle maker rallied 2.8% and closed at its highest price in more than 3 years. 

Netflix gapped down following last night’s earnings release. The stock opened at 503 and settled at 509. Will $NFLX take out today’s low…? Nobody knows. 

Chipotle reported earnings after the close. Hear Shake’s take on tonight’s episode of After Hours. 🌌

And here are the closing prints: 

S&P 500	4,173	+0.93%
Nasdaq	13,950	+1.19%
Russell 2000	2,239	+2.35%
Dow Jones	34,137	+0.93%

Earnings Round-Up

Chipotle charged higher after beating earnings expectations. The burrito business rallied on record revenue and triple-digit digital sales growth, which accounted for more than 50% of its sales. 👀 🌯

Here are the numbers:

EPS: $5.36 vs $4.91 est
Revenue: $1.74B, +23.4% YoY

Brian Niccol, Chairman and CEO of Chipotle, commented:

Chipotle is off to a great start in 2021 thanks to our employees and their incredible level of collaboration and tireless dedication. As vaccines roll out and we get closer to moving past this pandemic, I believe Chipotle is well-positioned for growth. I’m excited about our future as we remain focused on innovating in culinary, leading in food with integrity, and providing convenient access inside our restaurants and through our expanding digital ecosystem.

$CMG crawled up ~1% after hours. The stock sits just below its all-time high. Here’s the daily chart:

The World’s Cutest Camera 📸

Attention all Polaroid fans!!!

Polaroid just released its ‘Polaroid Go,’ the world’s smallest analog instant camera. And we have to say, it’s dang cute. 🤗 📸

The tiny camera is 3.3 in wide, 2.4 in tall, and even comes with mini custom format film. Polaroid’s CEO, Oskar Smolokowski, commented: 

The Polaroid Go is our biggest contribution to this yet. It is just really playful yet incredibly well-designed, and it’s going to make it so easy for you to bring a totally different camera than your phone with you wherever you go.

Look at this little guy: 

The US Goes All-Electric

Treasury Secretary Janet Yellen is already making (eco-friendly) money moves. 💰 ♻️

Today, Yellen called on public and private sectors to address climate change, outlining clear objectives to achieve national carbon-free electricity by 2035. She commented: 

President Biden has outlined an ambitious strategy to transition the United States to net-zero emissions and has mobilized the entire government to achieve it. At Treasury, our goal is to take this ‘whole-of-government’ approach and turn it into a ‘whole-of-economy’ approach. 

Madam Treasury Secretary’s plan includes tax subsidies for fossil fuels and grants for EV adoption. The Biden Administration also intends to document assets at risk due to potential environmental disasters: 

The thinking goes that because we know so little about climate risk, let’s be tentative in our actions—or even do nothing at all. This is completely wrong in my view. This is a major problem and it needs to be tackled now.

Here’s CNBC with more info. ⚡

Kobe and Nike 💔

Earlier this week, Nike and Vanessa Bryant announced their failure to reach a continuing business agreement. Kobe’s and Nike’s existing contract will expire later this month. 💔

Kobe first signed with Nike in 2003 after his initial pro-contract with Adidas expired— he last signed a five-year extension in April 2016. This means Kobe’s line of basketball shoes will likely come to an end. 😔

Nike had this to say:

Kobe Bryant was an important part of Nike’s deep connection to consumers. He pushed us and made everyone around him better. Though our contractual relationship has ended, he remains a deeply-loved member of the Nike family.

Here are Vanessa Bryant’s thoughts:

I was hoping to forge a lifelong partnership with Nike that reflects my husband’s legacy. We will always do everything we can to honor Kobe and Gigi’s legacies. That will never change.

What’s The Speed Limit in Miami?

Whatever it is, we have a feeling it’s about to get broken… by a lot. 🏎️ 💨

Earlier this week, Formula 1 announced its 2022 Miami race. This will be the US’ 2nd race, and the 1st US street circuit race to host a Grand Prix since Phoenix in 1989-1991.

While developing the course, designers tested 70+ different circuits before settling on a final iteration. The finalized course features 19+ turns, a slow-speed technical sector, and its start/finish lies parallel to Hard Rock Stadium’s northern face. 

Hard Rock Stadium CEO Tom Garfinkel shared:

We’re very excited to bring the world’s greatest racing to the most dynamic city in the United States.

Will you tune in to racing record-breaking in the Magic City? 🏆

Earnings This Week

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

Links That Don’t Suck

💦 ICYMI from Benzinga: Emerging Hemp Company (GHMP) Completes Acquisition of Alkaline Water for Enhanced Retail Footprint*

🍺 New Belgium Brewing: Behind the Scenes of Torched Earth

👟 Zion Williamson Debuts Jordan Zion 1, His First Signature Shoe

👾 How The Virtual World and The Real World Will Integrate

🌍 Architecture Highlights from Central Africa Include Projects from Equatorial Guinea and Angola

🤔 Kobe Bryant’s Nike Deal is Over — What Happens Next?

🏡 Adam Levine’s Real Estate Portfolio: A Timeline

😊Jim O’Shaughnessy on Bitcoin, Investing Psychology, and the Secret to a Long-Lasting Marriage

🍏 Apple’s New Hardware is Built for our Visual Future