Tale of the Tape
Good evening, y’all!! Happy turnaround Tuesday?!
The market of stocks stumbled for the second straight day, but the Nasdaq Composite closed well off its intraday low. 🤷 The Index gapped down 2.2%, reversed, and nearly finished flat.
The S&P 500 stalled 0.87% while the Dow dropped 1.36%. Will selling continue the rest of the week? Or did the market find its footing?? Time will tell…
Every sector (except basic materials) settled in negative territory. Energy stalled 2.55% as US gas prices reached their highest level in more than 6 years. 😬 Hear more on tonight’s episode of After Hours. 🌌
Crypto cooled off. Both bitcoin and ethereum traded within their previous day’s range. Where will the cryptos crack next??
US job openings hit a record high… but who wants a job when you can trade stonks instead? 😂
3D Systems dashed 35%. Palantir turned up 9.4%.
Roblox ripped 21% after last night’s earnings— the stock had its 3rd-highest volume day since its mid-March IPO.
EA and Unity Software reported earnings after the close. Did gaming stocks continue to see growth?? 🕹️ 🔥 Read more below.
Here are the closing prints:
| S&P 500 | 4,152 | -0.87% |
| Nasdaq | 13,389 | -0.09% |
| Russell 2000 | 2,206 | -0.26% |
| Dow Jones | 34,269 | -1.36% |
Is The Dollar Going Down? 💵
Investing magnate Stanley Druckenmiller claims the Fed’s attempts to sustain the economy during the pandemic could threaten the US dollar’s long-term health.
Druckenmiller said:
I can’t find any period in history where monetary and fiscal policy were this out of step with the economic circumstances, not one.
According to the chairman, the Fed’s attempts to bury interest rates and buy trillions in bonds despite a booming economy could revoke the dollar’s world reserve currency status. Druckenmiller also commented:
If they want to do all this and risk our reserve currency status, risk an asset bubble blowing up, so be it. But I think we ought to at least have a conversation about it.
Druckenmiller calls central banks the root of dollar instability. Here’s CNBC with the details.
Earnings Round-Up
Palantir popped 9.4% after reporting Q1 earnings. The software company met earnings expectations. Revenue grew 49% YoY.
Here are the stats:
EPS: $0.04 vs $0.04 est.
Revenue: $341M, +49% YoY
$PLTR is down 14% YTD.
Electronic Arts beat on both the top and bottom lines after the close. 🔔 Live services and Apex Legends propelled the impressive quarter.
Here are the numbers:
EPS: $1.23 vs $1.05 est.
Revenue: $1.49B, +23% YoY
Andrew Wilson, CEO of Electronic Arts, commented:
With tremendous engagement across our portfolio, we delivered a record year for Electronic Arts. We’re now accelerating in FY22, powered by expansion of our blockbuster franchises to more platforms and geographies, a deep pipeline of new content, and recent acquisitions that will be catalysts for further growth.
$EA advanced 1.5% after hours.
Unity Software also beat on both the top and bottom lines after the bell today. The leading 3D content platform grew revenue 41% YoY. 💰
Here are the details:
EPS: ($0.10) vs ($0.12) est.
Revenue: $234.8M, +41% YoY
Unity CEO John Riccitiello commented:
Our first quarter results are reflective of the powerful transition from linear 2D to real-time 3D, which is one of the most important changes in how people interact with technology. We believe that real-time 3D will continue to grow at an accelerated pace and achieve massive scale.
$U gained 1% after hours.
FuboTV flew 24% following its Q1 earnings beat and raise. Revenue more-than-doubled YoY, and subscribers increased 105% YoY. 👏 👏
Here’s the full report:
EPS: ($0.55) vs ($0.44) est.
Revenue: $119.7M, +135% YoY
Don’t Miss Owning an NFT of an NFT
Yes, now you can own an NFT of an NFT. 🤦
How? Merriam-Webster, the American dictionary publisher, added the definition of ‘NFTs’ (non-fungible tokens) to its dictionaries. The publisher even announced the auctioning of an NFT of its definition of NFT. What. 😂
Merriam-Webster’s auction has already started an NFT marketplace on OpenSea with bidding set to close on May 14.
Do you want an NFT of ‘NFT?’
Broadway is BACK!
Ladies and gentlemen, we are pleased to announce that Broadway is BACK. 🥳 🎭
Hamilton, Wicked, Aladdin, Six, Come From Away, Chicago, and The Lion King will all reopen on September 14. In October, Jagged Little Pill, The Phantom of the Opera, and Ain’t Too Proud are returning to the stage.
Diana and MJ are also ready to go for December. Meanwhile, tickets for September shows are on sale now.
Broadway’s exciting announcement comes as NY Gov. Cuomo recently declared a full-capacity reopening for Broadway theaters after Labor Day.
Live theater in New York creates 100,000 jobs and generates nearly $15B for the local economy. Is NYC on the road to recovery? 🚕 Only time will tell…
Another Canine Crypto
Dogecoin started as a joke. Now, a joke on this joke is ripping— no joke! 😅
Binance, one of the largest cryptocurrency exchanges, listed a SHIBA INU (SHIB) crypto on Monday afternoon. The MemeCoin has surged more than 750% in the last week.
Now, the SHIB crypto is already one of the 30-largest cryptocurrencies by market cap. Crypto lovers call it a “new Dogecoin,” but SHIB calls itself the “Dogecoin Killer.”
What a ‘Wow’ moment. Or should we say… a Bow-Wow moment?! 🐶
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
💰Osprey Polkadot Trust offers accredited investors easy access to Polkadot & Web3. Check Us Out HERE!*
🚚 Americans Up and Moved During the Pandemic. Here’s Where They Went.
💰 Inside Pictet, the Secretive Swiss Bank for the World’s Richest People
🥊 NIKE’s Latest Campaign ‘Play New’ Encourages Those Who Suck at Sports
🏟️ Colosseum Reconstruction Winner Proposal Introduces Reversible Arena Floor
🏅 Rhode Island School of Design Space Club Projects Get NASA Backing
🏘 We Need to Build More Houses
💉 Uber, Lyft to Provide Free Rides to Covid-19 Vaccine Sites until July 4
