Meet The Neighbors 🏡

Tale of the Tape

Good evening, everybody. Stonks rebounded after yesterday’s weakness. ⛹️‍♂️

Consumer prices rose 5% from the previous year— May’s biggest boost in almost 13 years, according to the Labor Department. 

The Nasdaq led, gaining 0.78%. Small caps lagged, losing 0.68%. The S&P 500 closed at a record high. 💯

The Memestocks met their maker today. 🔪 💀 $GME gave up 27%, $AMC deflated 13%, and $CLOV collapsed 15%.

Healthcare was once again the top performing sector. $XLV closed up 1.71% at an all-time high.

Crypto stumbled. After ticking a $38.5K high this morning, $BTC.X dropped 2% to $36K. Ethereum was weaker at -6.5%. 

Here are the closing prints: 

S&P 5004,239+0.47%
Russell 20002,311-0.68%
Dow Jones34,466+0.06%

Earnings Roundup

Chewy reported a surprise profit during Q1 and grew sales 32% YoY. 🐶 ❤️

Here are the numbers:

EPS: $0.09 vs ($0.02) est
Revenue: $2.14B, +32% YoY

Sumit Singh, Chewy’s CEO, commented:

2021 is already turning out to be an exciting and busy year for Chewy. We continue to execute against our growth roadmap, expand our customer base, increase share of wallet, and grow our addressable market-expanding verticals. I am incredibly proud of the determination and focus of our teams and their ability to accelerate our pace of innovation on behalf of our customers, while consistently delivering strong top-line and bottom-line results for our shareholders.

$CHWY fell 2.6% after hours.

FuelCell Energy flopped 11% today after falling short of Q1 earnings expectations. 

Here are the stats:

EPS: ($0.06) vs ($0.05) est
Revenue: $14M, -26% YoY

FuelCell CEO Jason Few said:

We remain focused on execution of our Powerhouse business strategy, including advancing in-flight projects in our backlog. During the quarter, we added 2.8 megawatts to our generation backlog with a new project in Derby, Connecticut.

$FCEL is down 10% YTD.

More Hot Water for Amazon 

Amazon’s latest plunge into scalding water? A European Union data scandal that could involve fines up to $425M. 💰

Amazon may face $425M fines after EU regulators accused the company of breaching Europe’s General Data Protection Regulation (GDPR). The regulation sanctions Amazon’s privacy policies related to the collection and use of personal data. 

The fine, proposed by Luxembourg, would capture 2% of Amazon’s net income from 2020, not to mention 0.1% of its sales and (potentially) 4% of its current revenue. Yikes. 

Amazon declined to comment. $AMZN closed up 2.09%, -0.04% after hours. 

What’s going on, Amazon? 🤔 Here’s the WSJ with more. 

Boeing Takes Off  

After Boeing’s multi-year rough patch, things are starting to look up. 🙌 🛫

Today, United Airlines confirmed it’s in talks to purchase 100+ 737 MAX jets. The news comes just weeks after Southwest Airlines upsized its existing order of Boeing’s 737 MAX.

Orders show current support for the plane (and its manufacturer), but Boeing still has to recover 1,222 order cancellations after the 737 MAX’s two-year grounding.

Considering Boeing still has pending orders for over 4,000 737 MAX planes, though, we’d say the company isn’t exactly hurting. 

$BA is up 1% since yesterday at the close.

Your New Neighbors

Millions of Americans are home-hunting in the most expensive and competitive housing market in decades. 🏡 🔥

But buyers might be surprised to find out their competition isn’t other individuals or families, but giant corporations… and these corporations offer premiums over market prices to limit competition. 😬

Yeah… your new next door neighbor could be a foreign government or a giant investment bank like Blackrock. It’s no surprise why, either— land is a highly-valued commodity nowadays. 

For companies like Blackrock, buying up houses is all about demand. People will always need a place to live, and landlords are driving up rent. It’s pretty simple economics. 🤷

Retire with Crypto!! 💰

You obviously want to save for retirement… but you could go one step further and add crypto to your retirement plan. 🤗

Thanks to Coinbase and ForUsAll Inc. (a 401(k) provider), Bitcoin and other cryptocurrencies are coming to your 401(k) soon.  

In July, ForUsAll will allow a small group of workers to invest in cryptocurrency. Workers can invest up to 5% of their 401(k) contributions in Bitcoin, Ether, Litecoin, etc.

Live happily-ever-after thanks to cryptocurrency!! 🏰 ✨

Links That Don’t Suck

✈️ SpaceX’s Starlink in Talk with Airlines for In-Flight Wi-Fi

❤️ TJ Olsen Surprises Siblings with News of Finding Heart Donor   

👾 Game Company Raises $75M to Build NFT Game Engine

🌒 ‘Ring of Fire’ Solar Eclipse Seen in Parts of the World

🔋 G-7 Eyes Ambitious Shift to Electric Cars and Away From Oil

💭 Is There A Better Way to Invest in Memestocks?

😂 France President Emmanuel Macron Slapped in the Face (literally)