Today is Thursday, January 13, 2022.
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KB Home Builds Solid Earnings
Shares of KB Home (NYSE: KBH) jumped 5.43% in after-hours trading on Wednesday after the homebuilder posted solid earnings.
Financials: KB Home reported earnings of $1.91 per share, which was better than expected. Revenue of $1.68 billion fell just under what analysts had projected.
The Bad: The company cited numerous challenges in the quarter, including labor shortages and supply chain disruptions. There were also higher construction costs and elevated lumber prices.
The Good: Despite the challenges, KB Home posted good numbers due to strong demand and a favorable pricing environment. Gross margins increased 22% and homes delivered rose 28%.
Numbers: Shares of KB Home are up 21% in the past year, but the price of the stock has taken a hit in recent weeks.
Final Thoughts: These earnings were based on sales before November 30, which means it was before the impact of the omicron variant. There are also other homebuilder stocks that investors might like more.
Notable Earnings Today: Delta Air Lines (NYSE: DAL), Taiwan Semiconductor Manufacturing (NYSE: TSM).
Notable IPOs Today: Justworks, Inc. (Nasdaq: JW), TPG Partners, LLC (Nasdaq: TPG), FGI Industries Ltd. (Nasdaq: FGI), Andretti Acquisition Corp. (NYSE: WNNR), Vahanna Tech Edge Acquisition I Corp. Class A Ordinary Shares (Nasdaq: VHNA), CFSB Bancorp, Inc. Common Stock (Nasdaq: CFSB), Strategic CRISPR & Gene Editing Technology ETF (Nasdaq: XDNA), Gardiner Healthcare Acquisitions Corp. Common Stock (Nasdaq: GDNR), Destra Multi-Alternative Fund (NYSE: DMA).
Notable Equity Crowdfunding Campaigns Ending Today: Mylance (Wefunder), Marek Landscaping (Honeycomb).
Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Producer price index (8:30 a.m. ET).
Breaking Down the Shiba Inu, Robinhood Rumors
The price of Shiba Inu jumped more than 10% on Wednesday morning after a tweet from BreakingCrypto suggested that the popular cryptocurrency could be listed on Robinhood (Nasdaq: HOOD) as early as February.
But should investors get on the Shiba Inu bandwagon now?
Other Catalysts: Most other cryptos performed well over the past day, with new positive economic data as a potential reason.
Background: Built on the Etherum blockchain, Shiba Inu is essentially a meme token that is aimed at overtaking Dogecoin, a rival coin. In fact, rumors of a Robinhood listing occurred a few months ago.
Trends: The number of Shiba Inu searches on Google Trends has declined since October, according to Crypto Potato.
Final Thoughts: This could be the beginning of a new rally for Shiba Inu, but some investors may want to show a little caution. The Robinhood listing is not confirmed yet and it is only a rumor.
Buy the Dip on Oscar Health?
Should investors consider Oscar Health (NYSE: OSCR), even though the insurance tech company had an awful 2021?
History: Oscar Health had its initial public offering in March 2021. The stock price is down 80%. Things are so bad that Goldman Sachs (NYSE: GS) gave the stock a “sell” rating last month.
The Good: A new partnership with Stride Health and over $1 billion in cash could help the company in 2022.
The Bad: Oscar Health’s medical cost ratio skyrocketed in the past year due to Covid. The company keeps posting financial losses each quarter.
Final Thoughts: Oscar Health reports earnings on February 10. Will the company turn things around?
Trends to Watch
Driving the Price: SPAC led by racecar driver Michael Andretti prices $200M IPO (Seeking Alpha)
The Power of Retail Investors: Retail options trading boom a burden for some investing firms (Reuters)
The End Is Near: NEAR Hits All-Time High as Upstart Blockchains Win With 'FOAN Trade' (CoinDesk)
Fair Price: Coinbase Buys Futures Exchange in Crypto Derivatives Push (Bloomberg)
Nothing There: Here's why store shelves are empty again in parts of the U.S. (NBC News)
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