Amazon's Italy Investment 💰

Plus, a bold Chainlink prediction.

May 28, 2024

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Today is Tuesday, May 28, 2024.

The Early Bird Index today is 73.86.

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Amazon's Italy Investment 💰

Amazon (Nasdaq: AMZN) reportedly wants to expand the cloud offering from its AWS (Amazon Web Services) unit in Europe.

Details: Reuters reported Monday that AWS is in talks with Italy to invest billions of euros in expanding its data center business in the country. This investment could be in its current site in Milan or another location. AWS did not comment on the report.

  • Also: Discussions between the parties are ongoing and the report said an announcement is not imminent.

Background: Last week, AWS announced that it plans to invest billions of euros in Spain to expand its cloud business.

Stock Price: Amazon is up 20% this year, but the stock is flat in the last 30 days.

Final Thoughts: The market didn’t react favorably to the investment in Spain last week. Will it react the same way with this report about Italy?

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Notables

Notable Earnings Today: CAVA Group (NYSE: CAVA), Box (NYSE: BOX), HEICO (NYSE: HEI), Hello Group (Nasdaq: MOMO), Bank of Nova Scotia (NYSE: BNS), Baozun (Nasdaq: BZUN), BioLine RX (Nasdaq: BLRX), Danaos (NYSE; DAC), Diana Shipping (NYSE: DSX), Digital Turbine (Nasdaq: APPS), Elbit Systems (Nasdaq: ESLT), Futu Holdings (Nasdaq: FUTU), Golar LNG (Nasdaq: GLNG), Icecure Medical (Nasdaq: ICCM), JOYY (Nasdaq: YY), Nano-X Imaging (Nasdaq: NNOX), Ooma (NYSE: OOMA).

Notable IPOs Today: Inhibrx Biosciences, Inc. Common Stock (Nasdaq: INXBV).

Notable Equity Crowdfunding Campaigns Ending Today: ClearValue Tax 3rd Channel Drop (GigaStar Market), North Shore Adventures (Wefunder), Cytonics (StartEngine), Golden Hour (SMBX), Cultivate Kitchen Co. (SMBX).

Notable Economic Events Today: S&P/CS HPI Composite (9:00 a.m. ET), CB Consumer Confidence (10:00 a.m. ET).

Source: Chainlink

The price of Chainlink soared above other cryptocurrencies on Monday with a 9% gain.

Details: This price surge coincides with a prediction on Monday from crypto analyst MichaĂ«l van de Poppe, who wrote that Chainlink “woke up from the crucial area of support.”

  • Quote: “From this point, I wouldn't be surprised with [a] 150-300% price increase.” - MichaĂ«l van de Poppe.

Also: Another report on Monday also showed that Chainlink is trading above a certain point on the chart, which signals strong bullish momentum.

Price: Chainlink is now up 31% in the past 30 days, which is better than most other major cryptos.

Final Thoughts: Despite the increase in the price, Chainlink is still volatile.

Cae Slips After Results

Simulation tech company CAE (NYSE: CAE) ticked by 0.06% during after-hours trading on Monday after posting its recent financial results.

Financials: CAE reported earnings of 37 cents per share in the past quarter and revenue of $1.1 billion; both were better than expected.

Final Thoughts: CAE is down 12% this year due to a decline in profits.

Investors Are Wary: Why Are Cruise Stocks Still Dead in the Water? (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.