Monday’s Headlines: Stimulus Checks Are Almost Here
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
IMAX (IMAX) +18.7%
Paycom (PAYC) +7.7%
iRobot (IRBT) +7.0%
ShotSpotter (SSTI) +6.9%
Calavo Growers (CVGW) +5.7%
Moving Down ⬇️
Redfin (RDFN) -5.8%
Coupa Software (COUP) -4.7%
Smartsheet (SMAR) -4.7%
Tesla Motors (TSLA) -3.8%
Spotify (SPOT) -3.5%
1. Stock futures dipped on Monday morning following the Senate’s passing of President Biden’s $1.9 trillion stimulus bill. Though a huge boost for many, the COVID relief effort is also expected to cause ripples in the U.S. Treasury market, where the benchmark 10-year yield has risen sharply in recent weeks — the yield rose as high as 1.62% on Friday. Despite these concerns, the Democrat-controlled House is expected to pass the bill later this week, with the President expected to sign it into law before unemployment aid programs expire on March 14. Read the full story here.
2. Shares in Microsoft (MSFT) are tumbling pre-market following a potential hacking breach that was revealed on Friday. More than 20,000 U.S. companies, as well as tens of thousands of organizations in Asia and Europe, have been compromised through a back door installed via recently patched flaws in Microsoft’s email software. Microsoft, which had initially said the hacks consisted of “limited and targeted attacks,” declined to comment on the scale of the problem on Friday but said it was working with government agencies and security companies to provide help to customers. Read the complete report here.
3. Always known for being different, Twitter (TWTR) CEO Jack Dorsey announced on Friday that he will be auctioning off the first-ever tweet as a non-fungible token (NFT). The tweet is his own from March 21, 2006, stating simply: “just setting up my twttr” — with the highest bid so far coming from Sina Estavi, CEO of Bridge Oracle, for $2.5 million. Crypto collectibles have exploded in popularity lately, and with Dorsey’s long-time affinity for various virtual currencies, it seems a case of sooner rather than later that his ventures, Square and Twitter will become affiliated with the trend. If you want to learn more about NFTs, read our blog post here.
There is 1 company on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.