Wednesday’s Headlines: Stimulus Bill Thrown In The Air

Wednesday’s Headlines: Stimulus Bill Thrown In The Air

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Nautilus (NLS) +13.3%

Peloton Interactive (PTON) +11.6%

Lemonade (LMND) +9.2%

Shopify (SHOP) +6.7%

Workday (WDAY) +6.4%

Moving Down ⬇️

Calavo Growers (CVGW) -8.2%

Fitbit (FIT) -5.1%

Huazhu Hotels Group (HTHT) -4.0%

Lululemon (LULU) -3.6%

Duluth Trading (DLTH) -3.1%

1. U.S. stock futures remain relatively flat on Wednesday morning despite the latest reports that President Trump may not sign off on the long-awaited COVID-19 stimulus bill. Late on Tuesday, Trump called the new $900 billion COVID relief bill an unsuitable “disgrace” and admonished lawmakers to alter the bill’s contents, especially the amount allocated for direct payments to Americans. After weeks of negotiations, this would be a big blow, but many have already expressed their concern about the small size of individual stimulus packages, which amount to $600 per person. The president is expected to make an announcement on his decision later today. Read the full story here

2. Buoyed by positive investor sentiment towards Peloton’s (PTON) Precor acquisition yesterday, rival Nautilus (NLS) saw shares soar 13.3% on Tuesday. The Bowflex creator has seen its stock rise more than 1,100% year-to-date, having fallen to a 52-week low of just $1.20 per share during the March sell-off, but now it appears to be riding the coat-tails of a successful industry as stay-at-home orders remain in place. Nautilus has been bandied around as an M&A target for a bigger company despite its monster 2020 rally, with Peloton being thrown into that mix of potential acquirers. Read the full story here

3. Determined to clean up its image amid continued ad boycotts and antitrust investigations, Facebook (FB) unveiled new security features on Tuesday. The company announced that it would start allowing users to set up physical security keys as a way to verify their identity before logging into the social network’s mobile app, beginning next year. The world’s largest social network said it also plans to expand Facebook Protect — its security program for high-profile accounts including election candidates — to more types of accounts globally next year. Despite this, Facebook shares fell more than 2% on Tuesday, though its stock remains up 27% year-to-date. Read more here

JamieJamie

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