Thursday’s Headlines: A Good Start For The President

Thursday’s Headlines: A Good Start For The President

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Netflix (NFLX) +16.9%

Ford Motor Company (F) +8.4%

Teladoc (TDOC) +6.0%

Google (GOOG) +5.4%

Datadog (DDOG) +5.2%

Moving Down ⬇️

Zoom Communications (ZM) -2.8%

Etsy (ETSY) -2.5%

Duluth Trading (DLTH) -2.5%

Trupanion (TRUP) -2.3%

Silicon Valley Bank (SIVB) -1.7%

1. The stock market reacted favorably to a seemingly peaceful transition of power in Washington D.C. yesterday, notching all-time highs across the board. The Dow Jones (DIA) jumped 0.8% to a new closing high, while The S&P 500 (VOO) advanced 1.4% to also beat its own record close, followed by the tech-heavy Nasdaq Composite (QQQ), which jumped nearly 2% to end the day at fresh highs. These gains are backed by optimistic investor sentiment that President Joe Biden and his Democratic party will get their $1.9 trillion COVID-19 relief plan out the door and kick-start some economic recovery. Needless to say, the new president has a lot of work to do. Read the full story here

2. You don’t often see trillion-dollar businesses make 5% gains in a single day, but Google (GOOG) never was a very conventional company. The tech giant’s valuation closed at a record $1.27 trillion after reports surfaced that a federal judge is considering moving 10 states’ antitrust lawsuits to California. Jurors in the Golden State are expected to be more lenient towards the locally-founded company. However, it’s not all good news, as reports have also emerged that 38 other states are suing Google over accusations of monopolistic practices, while the European Union is gearing up for a similar serving. It seems like more bad news than good, so one must wonder if its 5.4% Wednesday gain simply comes from overall market sentiment. The development of these lawsuits will be one to watch. Read more here

3. They say that every dog has its day, but yesterday was just another in a long line of growth days for Datadog (DDOG). The SaaS-based analytics platform jumped 5.3% off the back of fresh coverage initiation by Truist Securities. The analyst firm has started Datadog with a buy rating and a price target of $120, which represents a 21% upside from Tuesday’s close. Datadog experienced a volatile finish to 2020; after hitting all-time highs of $116.87 per share in October, it see-sawed below the $90 per share mark and back up again several times. Since its addition to the MyWallSt shortlist back in May 2020, Datadog stock has grown more than 55%. You can read our full opinion on the company here.

You may have noticed that Netflix (NFLX) shares soared a whopping 17% yesterday following its Q4 earnings report. You can read all about it here

There is 1 company on the MyWallSt shortlist that will report earnings today:

Silicon Valley Bank (SIVB)

Get this week’s full earnings calendar here.

JamieJamie

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