Tuesday’s Headlines: “Stocks Don’t Go Down”
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Tesla Motors (TSLA) +11.2%
Teladoc (TDOC) +9.3%
Zoom Communications (ZM) +8.7%
Square (SQ) +7.4%
Sea Limited (SE) +6.2%
Moving Down ⬇️
Match Group (MTCH) -4.0%
Under Armour (UAA) -2.5%
Markel Corp (MKL) -2.2%
1. The S&P 500’s (VOO) flirtation with all-time highs is fast becoming a better “will they/won’t they” than Ross and Rachel from 'Friends'. The major index rose 0.3% to close at 3,381.99 — a mere 4.16 points off of its February highs — while the Nasdaq (QQQ) rose 1%, with the Dow Jones (DIA) the only index in the red after falling 0.3%. With major retailers Walmart (WMT) and Home Depot (HD) reporting on their Q2 earnings this morning, these results could foreshadow the market's overall performance for the day. Read more here.
2. It really doesn’t take much for Tesla (TSLA) stock to shoot up these days, with the electric vehicle-maker soaring 11.2% off the back of, well, nothing apparently… The world’s most valuable automaker saw shares surpass $1,800 apiece after a Wedbush analyst boosted their price target, sending its valuation to $341 billion — roughly 12 times the value of Ford Motors (F). Tesla shares are now up a whopping 327% YTD with the company planning a 5-to-1 stock split on August 31. Read the full story here.
3. It might be too early in the week for a gin, but Diageo’s (DEO) $610 million acquisition of Aviation Gin will be cause to celebrate for a certain Marvel superhero (antihero?). Deadpool star Ryan Reynold’s, Aviation part-owner, will retain a stake in the brand as part of the acquisition, with Diageo adding yet another quality brand to a portfolio that already includes Smirnoff, Tanqueray, and Guinness. Shares in Diageo rose following the news, though it still remains down 17% YTD following a disastrous March sell-off. Read the full story here.
There are two companies in the MyWallSt shortlist that will report earnings today:
Sea Limited (SE)