Monday’s Headlines: Can The Street Beat A Great Week?

Monday’s Headlines: Can The Street Beat A Great Week?

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️ (BILL) +32.0%

Huazhu Hotels Group (HTHT) +13.7%

Activision Blizzard (ATVI) +9.6%

Wynn Resorts (WYNN) +7.6%

Zoom Communications (ZM) +7.6%

Moving Down ⬇️

GoPro (GPRO) -19.1%

Peloton Interactive (PTON) -5.9%

Lemonade (LMND) -2.1%

Nautilus (NLS) -2.1%

Calavo Growers (CVGW) -1.9%

1. It looks like the market could be on a roll as stock futures soar into the green on Monday morning. The Dow Jones, S&P 500 (VOO), and Nasdaq all rose higher this morning as investors build on the momentum gained on Wall Street last week when the market enjoyed its best week since November. The S&P 500, in particular, is enjoying a run of five straight positive sessions for the first time since August as its member companies continue to post record-breaking earnings. Read a more in-depth analysis here

2. PayPal (PYPL) investors don’t appear too fazed by the recent U.S. Consumer Financial Protection Bureau (CFPB) investigation into the Venmo app. According to reports, the CFPB is probing the social payments app over alleged “unauthorized fund transfers and collections processes”. PayPal has come out and publicly stated that it will support the investigation, but should discrepancies be found in its Venmo business — which processed about $47 billion in total payments in 2020 — things could get messy. Read the original report here

3. Less than 5 days after its last recall announcement, there’s more trouble for Tesla (TSLA), this time in China. Its fourth Chinese recall since Q4 2020 includes up to 36,126 of its Model S and Model X and is related to the same issue of touch-screen failures as last week’s U.S. recall. It may not be the last such occurrence either, with German authorities investigating the issue in Europe. Some respite for Tesla though in the confirmation from Hyundai-Kia that the carmaker is not in talks with Big Tech giant Apple (AAPL) to create a new, autonomous vehicle, contrary to last week’s reports. Read more here.

There are 3 companies on the MyWallSt shortlist that will report earnings today:

Chegg (CHGG)
Hasbro (HAS)
Take-Two Interactive (TTWO)

Get this week’s full earnings calendar here.


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