Tuesday’s Headlines: Apple Leads The Way

Tuesday’s Headlines: Apple Leads The Way

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Tesla Motors (TSLA) +8.7%

MercadoLibre (MELI) +8.2%

Sea Limited (SE) +6.6%

StoneCo (STNE) +5.5%

Shopify (SHOP) +5.0%

Moving Down ⬇️

Vail Resorts (MTN) -2.6%

Wynn Resorts (WYNN) -3.7%

Trupanion (TRUP) -5.6%

Nordstrom (JWN) -6.2%

Hasbro (HAS) -7.4%

1. Investors are waiting with bated breath for Thursday’s earnings reckoning, where 4 out of 5 of the Big Tech giants will report on their Q2 numbers. The anticipation has turned bullish it seems, with Apple (AAPL) and Amazon (AMZN) driving the Nasdaq (QQQ) 1.7% higher on Monday, while other tech-related stocks, including Facebook, Netflix, and Alphabet also traded higher. The Nasdaq is far outperforming its Dow Jones (DIA) and S&P 500 (VOO) counterparts in 2020, soaring more than 20% YTD as of yesterday’s close. Read the full story here.

2. There’s a hint of déjà vu in the air as e-commerce stocks rallied on Monday, likely due to rising coronavirus fears. South American giant MercadoLibre (MELI) led the pack with an 8.2% gain, while Sea Ltd (SE) jumped 6.6%, followed by strong gains from Amazon, Shopify (SHOP), and Etsy (ETSY). As states suffer from increased lockdown measures once more, many investors appear to be betting on further restrictions which could see consumers revert to increased e-commerce usage — the very event that has seen these stocks skyrocket already this year. Read more here.

3. Not even Baby Yoda can help Hasbro (HAS) as the old-school toymaker saw its stock plummet 7.4% following a disappointing Q2. Store closures, product shortages and lower retail inventory hampered Hasbro, causing revenue to fall 29% with net losses coming in at $33.9 million, or $0.25 per share. “We believe the outlook improves from here,” Hasbro CEO Brian Goldner said in a statement. “We expect the environment to improve in the third quarter and set us up to execute a good holiday season.” Get the official Q2 earnings report here.

Earnings today

There is one company in the MyWallSt shortlist that will report earnings today:

  • Starbucks