Thursday’s Headlines: Stimulus Checks Are On The Way

Thursday’s Headlines: Stimulus Checks Are On The Way

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

GoPro (GPRO) +12.3%

Redfin (RDFN) +7.0%

Zillow (Z) +6.3%

Evolent Health (EVH) +4.9%

ShotSpotter (SSTI) +4.6%

Moving Down ⬇️

Coupa Software (COUP) -5.3%

Sea Limited (SE) -4.9%

Teladoc (TDOC) -4.4%

Wix (WIX) -4.4%

Peloton Interactive (PTON) -4.1%

1. The stars have aligned for investors as the Dow Jones Industrial Average (DIA) hit an all-time high yesterday, crossing 32,000 for the first time. Wednesday’s gains came as the House passed the $1.9 trillion stimulus package, sending it to President Joe Biden for signing. The bond market also digested a $38 billion auction of 10-year Treasury bonds without a spike in volatility. It wasn’t all fun and games though as the tech-heavy Nasdaq’s (QQQ) rapid recovery from recent losses ground to a halt, remaining flat for the day. Read more here.

2. As if Twitter (TWTR) didn’t have enough political trouble at home to contend with this year, it is now placed firmly in the crosshairs of the Kremlin. The social blogging site has had its site speed reduced by up to 50% after Russia’s communications watchdog accused Twitter of failing to remove illegal and harmful content from its site. The regulator said it asked Twitter to remove links and publications more than 28,000 times between 2017 and March 2021, as Russia joins both Turkey and India in ongoing regulatory battles against the controversial platform. Read the complete story here

3. Amid a global chip shortage, Apple (AAPL) appears to be doubling down via a European expansion. Having all-but abandoned Intel (INTC) last year in a bid to become more self-sufficient, Apple announced on Wednesday that it will invest $1.2 billion over the next 3 years in a German silicon design center, with help from local partners. The new facility will be home to Apple’s growing cellular unit and intends to become Europe’s largest R&D site for mobile wireless semiconductors and software at a time where Apple has just overtaken Samsung once more as the world’s leading smartphone seller. Read more here

Roblox direct listing:
Yesterday, Roblox (RBLX) went public on the NYSE via direct listing under the ticker symbol ‘RBLX’. With a reference price of $45 per share, the company’s stock began trading at $64.50 and closed at $69.50 apiece, giving it a market cap of $38.26 billion. You can read our opinion on Roblox in our latest Insight here

Some earnings from last night:

Calavo Growers (CVGW)
Perhaps avocado toast is no longer the craze because Calavo Growers came out with a Q4 earnings miss of $0.17 per share on revenue of $220.6 million, versus EPS expectations of $0.24. The company cited uncertainty around transport and trade due to COVID-19 for its lower-than-expected results, but is optimistic that business will improve as more vaccines are distributed worldwide. Read the official press release here.  

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

DocuSign (DOCU)
Ulta Beauty (ULTA)
Vail Resorts (MTN)

Get this week’s full earnings calendar here.


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