Thursday’s Headlines: DraftKings NFT Gamble

Thursday’s Headlines: DraftKings NFT Gamble

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Chipotle Mexican Grill (CMG) +11.5%

DraftKings (DKNG) +6.7%

Lemonade (LMND) +6.5%

Bumble (BMBL) +5.2%

Sea Limited (SE) +5.1%

Moving Down ⬇️

Netflix (NFLX) -3.3%

ShotSpotter (SSTI) -1.9%

Evolent Health (EVH) -1.4%

Teladoc (TDOC) -1.0%

Coupa Software (COUP) -1.0%

1. DraftKings (DKNG) is breaking into the NFT business by launching a marketplace with Autograph, a new NFT startup co-founded by NFL quarterback Tom Brady. The platform, which is aimed at collecting sports and entertainment-themed digital collectibles, presents another lucrative opportunity for DraftKings by funneling their existing audience into the new vertical. With rival marketplace Dapper Labs already dominating the NBA and other sports leagues' NFT space, DraftKings is hoping to become the hub for sports personality collectibles. Its partner Autograph has already landed exclusive NFT deals with famous athletes including Tiger Woods, Naomi Osaka, and Tony Hawk. Following the news, DraftKing shares jumped 6.7% yesterday. Read more here

2. The race to launch self-driving vehicles is heating up as Ford Motors (F) and Argo AI announced their plans to deploy an autonomous vehicle fleet with ride-hailing firm Lyft (LYFT). Ford’s self-driving rides will have safety drivers and it is aiming to launch in Miami this year. As part of the deal, Lyft will receive 2.5% common equity of Argo AI, an autonomous vehicle company backed by Ford and Volkswagen that’s supposedly preparing to go public this year. Huge companies are rushing to launch their own autonomous vehicles, including Volkswagen, which has a self-driving microbus in the works with Argo AI set for 2025 while General Motors said it will offer consumers its own versions this decade. See more here

3. On Wednesday, Microsoft (MSFT) confirmed that it is buying CloudKnox, a software start-up that helps companies restrict the access they provide to their cloud resources. The buy is another step in the Big Tech giant’s journey of expanding its security business whilst it continuously works to keep its flagship Windows product, among others, safe. Back in January, Microsoft generated more than $10 billion in security revenue over the previous year, a 40% rise year-over-year, proving that this business is growing faster than its other products and is therefore worthy of further investment. The CloudKnox deal comes just one week after Microsoft acquired another security company, RiskIQ. More here

One more earning from last night: 

Coca-Cola (KO)
For the second quarter, the soda giant reported revenues of $10.1 billion, up 42% YoY, that topped pre-pandemic levels and analysts estimates. This growth encouraged Coca-Cola to hike its full-year outlook to between 12% to 14% with the cola maker explaining that it is “biased towards a growth mentality and will invest behind this momentum going into the rest of the year.” Read the full press release here

There are three companies on the MyWallSt shortlist that will report earnings today:

Boston Beer (SAM)
Silicon Valley Bank (SIVB)
Twitter (TWTR)

Get this week’s full earnings calendar here 

NicoleNicole

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