Wednesday’s Headlines: Is Tech Making A Comeback?

Wednesday’s Headlines: Is Tech Making A Comeback?

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Tesla Motors (TSLA) +19.6%

Peloton Interactive (PTON) +14.5%

Twilio (TWLO) +13.0%

Cloudflare (NET) +12.4%

Square (SQ) +11.5%

Moving Down ⬇️

Stitch Fix (SFIX) -28.2%

Planet Fitness (PLNT) -4.5%

Chuy's (CHUY) -3.9%

Walt Disney Co. (DIS) -3.7%

Vail Resorts (MTN) -3.6%

1. Don’t call it a comeback, but the Nasdaq Composite (NYSEARCA: QQQ) just had its best day since November after rising 3.7%. Despite recent sell-offs, investors poured back into tech and growth stocks, with Tesla (TSLA) among the big winners after wiping out its 5-day losing streak by jumping 19.6% on Tuesday. Meanwhile, the likes of Apple (AAPL), Amazon (AMZN), and Facebook (FB) also posted strong recoveries, coinciding with a decline in bond yields as the Biden Presidency looks set to make its $1.9 trillion stimulus relief plan a reality in the coming days. Read the complete report here

2. Having announced the deal last September, Microsoft (MSFT) has officially closed its $7.5 billion acquisition of ZeniMax. The firm is the parent company of major games developer, Bethesda, which many consider to be the real prize in this deal. It is also the biggest such acquisition in Microsoft’s gaming history, eclipsing the $2.5 billion 2014 acquisition of Minecraft-parent Mojang. Bethesda is a household name in gaming thanks to its ‘Fallout’ and ‘Elder Scrolls’ franchises, and the move allows Microsoft to address previous concerns that it has no hard-hitting original titles when compared to gaming rival Sony (SNE). It looks like the Xbox v Playstation drama is about to hit a whole new level. Read the complete story here

3. Even if Apple stock is on the rise once more, it can’t seem to leave its antitrust woes behind. French start-up lobby group France Digitale, which has around 2,000 members, filed a seven-page complaint with the country’s privacy regulator — CNIL — on Tuesday, accusing Apple of collecting user data for ad tracking services without explicitly asking permission. The complaint, should it become a full-blown investigation, will add to an already stacked pile of problems the iPhone maker is currently facing, including antitrust investigations into its App Store rules and its Apple Pay mobile wallet, as well as being in Facebook’s (FB) crosshairs over its latest app updates, which could harm advertisers. Read the full story here.

Some earnings from last night:

Casey's General Store (CASY)
The convenience store chain reported strong fiscal Q3 2021 results, with earnings-per-share of $1.04 on revenue of $2.08 billion topping analyst estimates. Despite this revenue figure being 10.7% lower year-over-year, CEO and President, Darren Rebelez, found a lot of optimism in the company’s 95% increase in digital sales, stating: “Our balance sheet remains strong, and we are committed to executing our long-term strategic plan.” Read the official release here.  

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

Calavo Growers (CVGW)

Get this week’s full earnings calendar here.

JamieJamie

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