Tale of the Tape
Good evening, everyone! We made it through taco Tuesday! 😋 🌮
The major indices were mellow. The S&P 500 and Dow Jones both finished flat. The Nasdaq lost 0.34% while the small-caps stepped up 0.14%.
Energy was the strongest sector as $XLE advanced 1.2%. Industrials and financials both flew 0.8%. Utilities lost 0.77% while healthcare came in +0.55%.
Crypto followed through on yesterday’s bounce back. BTC.X bopped 1.7%. $ETH.X surged ~4% and broke out to blue skies. ☀️ ☁️
Earnings season is here. 🎉 Tesla tumbled 4.5% following last night’s numbers. Crocs cruised 15% to close at an all-time high. UPS delivered better-than-expected estimates as the stock flew 10.42%. After hours, we got numbers from Google, Microsoft, AMD, Pinterest, and many more. 🌌 See the round-up below. 🤠
Novovax nestled up 16% after President Biden mentioned its possible COVID-19 vaccine release. Here’s MarketWatch with more.
Harley-Davidson rallied another 2%. 🔥 The stock is up 11.11% (*make a wish*) following its April 19 earnings report. With that being said, $HOG is still down more than 34% from its November 2006 all-time high.
Buffett’s Berkshire bopped 1% and closed at a new all-time high. $BRK.A settled at $411,400 a share. 🤯
Here are the closing prints:
| S&P 500 | 4,186 | -0.02% |
| Nasdaq | 14,090 | -0.34% |
| Russell 2000 | 2,301 | +0.14% |
| Dow Jones | 33,984 | +0.01% |
Earnings Round-Up 🤠
Holy earnings season. More than 150 companies reported numbers today while another ~250 will report tomorrow. 😅 Here are some notable names:
UPS crushed estimates on the top and bottom lines as the shipping giant continues to capitalize on increased e-commerce demand. 🚚 📦
Here are the numbers:
EPS: $2.77 vs $1.67 est
Revenue: $22.9B, +27% YoY growth
Crocs destroyed Wall Street expectations as the company set record revenue numbers. 🐊
CEO Andrew Rees said:
Demand for the Crocs brand is stronger than ever with expected 2021 revenue growth of 40% to 50%. In the first quarter we achieved record revenues and profitability, with growth in all regions and all channels. We have raised full year guidance as we continue to see consumer demand for our product accelerate globally.
Here are the numbers:
EPS: $1.49 vs $0.89 est
Revenue: $460M, +64% YoY growth
Crox is up 808% from its March 2020 low. Here’s the daily chart:
Microsoft beat expectations thanks to strong growth rates across the board. Specifically, its Azure public cloud unit, Xbox content, and services unit kept the momentum. 💪
Here are the numbers:
EPS: $1.95 vs $1.78 est
Revenue: $41.71B, +19% YoY growth
$MSFT tumbled 3% after hours.
Google almost doubled Wall Street earnings estimates after reporting record ad revenue.
Google CEO Sundar Pichai had this to say:
Over the last year, people have turned to Google Search adn many online services to stay informed, connected and entertained. We’ve continued our focus on delivering trusted services to help people around the world. Our Cloud services are helping businesses, big and small, accelerate their digital transformations.
Here are the numbers:
EPS: $26.29 vs $15.28 est
Revenue: $55.31B, +34% YoY growth
$GOOG is up 4% after hours. Here’s the daily chart:
AMD met Wall Street expectations thanks to “…strong execution and robust market demand.” 📱 🖥️
Here are the numbers:
EPS: $0.45 vs $0.44 est
Revenue: $3.45B, +94% YoY growth
$AMD advanced 3% after hours.
Soaring US Home Prices 🏡
US home prices are the highest they’ve been for 15 years. But why? 💭
The pandemic’s low mortgage rates increased buyer power— 30-year loans have dropped almost 3%. Not only that, COVID also prompted a widespread shift in interest from urban to suburban housing markets. An S&P report stated:
These data remain consistent with the hypothesis that Covid has encouraged potential buyers to move from urban apartments to suburban homes.
20 US cities experienced an 11.9% hike in home prices with Phoenix, AZ (the US’ #1 city for soaring home prices) facing 17.4% YoY gains in home prices.
Here are 10 cities where home prices saw their biggest boosts:
Design Helps Save the World 🌎
Since 2013, Lexus has hosted a Grand Prix design competition with the goal of “shaping a better tomorrow.” Each design is judged “…on the principles of anticipate, innovate and captivate,” and 2021’s winner (along with 6 finalists) was just announced.
Henry Glogau, a dual-citizen of New Zealand and Austria, entered a ‘Portable Solar Distiller’ that provides coastal settlements with drinking water and offers a shaded gathering area for locals. 🏆
The coolest part? Glogau’s design implements low-tech tools and supplies to make it accessible for a variety of cultures and areas.
The best designs are always the ones that create good in the world— a big shout out to Henry!
The CDC’s Mask Update 😷
Today, President Biden announced “life in America [is getting] closer to normal.”
The CDC, federal officials, and the President have officially lifted outdoor mask guidelines for fully vaccinated individuals. President Biden said:
As long as you are vaccinated and outdoors, you can do it without wearing a mask.
For fully immunized individuals, the CDC’s new guidelines also say masks are unnecessary at small indoor gatherings and even at restaurants, although members of different households are still encouraged to practice 6-foot social distancing.
CDC Director Dr. Rochelle Walensky says she senses less “impending doom,” and instead feels more “hopeful.”
Here’s the New York Times with more on updated mask requirements.
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
💰 Hemp Beverage Products Are Now Available on Amazon – See them here!*
🤖 A City Tailor-Made for Self-Driving Cars? Toyota Is Building One
💰 Iconic LeBron James Rookie Card Ties All-Time Record for Most Expensive Trading Card Sale
🌔 Monday’s Super Pink Moon as Seen Around the World
🏈 Trevor Lawrence Gets Paid in Crypto
🤷 What is Your Investing Risk Score?
🌳 MIA Design Studio Builds Its ‘Straw Pavilion’ of Atmospheric Blurred Timber
🎨 Binance is Launching Its Own NFT Marketplace in June
🏒 NHL Moving to Turner Sports is $1 Billion Risk-Reward for Hockey
