Tuesday’s Headlines: Markets Make A Strong Recovery
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
GoPro (GPRO) +17.7%
Nautilus (NLS) +8.4%
Sea Limited (SE) +7.8%
Bill.com (BILL) +7.3%
Roku Inc. (ROKU) +7.0%
Moving Down ⬇️
Stitch Fix (SFIX) -11.0%
Ctrip (TCOM) -2.1%
Vail Resorts (MTN) -1.6%
1. Major benchmarks bounced back in early morning trading today following their worst week since October. The Dow Jones (DIA) rose 233 points, while the S&P 500 (VOO) and Nasdaq Composite (QQQ) also traded in the green. This positive return comes despite another volatile day, as trading volumes across the U.S. continue to soar to unprecedented figures. It’s also a busy day for Wall Street as a slew of earnings are on the way, including industry leaders Pfizer and tech giants Amazon and Alphabet which will both report after the bell. Read more here.
2. Android technology is coming to Ford Motor Company (F) vehicles. The automaker announced that it is teaming up with Alphabet’s Google (GOOG) to offer cloud-based data services such as built-in Google apps like map and voice technology. Ford is planning to tap into Google’s software, artificial intelligence, and cloud computing to develop new services and modernize internal operations. As part of the six-year partnership, the motor company will incorporate the Android operating system into its Ford and Lincoln vehicles starting in 2023. Together the two companies will also discover other uses of data to develop new retail and create new ownership offers. See more here.
3. Cloud’s elite, Google (GOOG), Amazon (AMZN), Microsoft (MSFT) and Salesforce are all putting dollars behind data start-up, Databricks. The company raised $1 billion ahead of a likely IPO in the not-too-distant future, giving it a valuation of $28 billion. Databricks software helps companies quickly process data and is also working with organizations to deploy AI models. Investors have noted how rare it is to see a cloud startup backed by all four cloud titans. Other investors with public-market credentials include Fidelity and Whale Rock Capital. CEO Ali Ghodsi of Databricks stated that the funds will be used to accelerate its international presence. See more here.
Get this week’s full earnings calendar here.