Big Tech Earnings Still Buzzing

August 07, 2023

Photo by ilgmyzin / Unsplash

Today is Monday, August 7, 2023.

The Early Bird Index today is 57.61.

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Big Tech Earnings Still Buzzing

The last of the big technology companies announced their financial earnings results last week, and although there were several trends sprinkled in the results, it is clear that artificial intelligence is still an overarching focus that investors should consider.

Final Thoughts: With all of the focus on AI, the Nasdaq is up 33% this year. However, the Nasdaq is only up less than 2% in the past 30 days. Maybe the AI buzz has slowed, but these recent earnings could create more AI excitement in the coming months.

Notables

Notable Earnings Today: Palantir Technologies (NYSE: PLTR), Tyson Foods (NYSE: TSN), Lucid Group (Nasdaq: LCID), Beyond Meat (Nasdaq: BYND), Chegg (NYSE: CHGG), Paramount Global (Nasdaq: PARA), BioNTech (Nasdaq: BNTX), RingCentral (NYSE: RNG), Viatris (Nasdaq: VTRS), Skyworks Solutions (Nasdaq: SWKS), Axsome (Nasdaq: AXSM), Henry Schein (Nasdaq: HSIC), Shockwave (Nasdaq: SWAV), TreeHouse Foods (NYSE: THS), Five9 (Nasdaq: FIVN), Elanco Animal Health (NYSE: ELAN), ONEOK (NYSE: OKE), KKR (NYSE: KKR), Cabot (NYSE: CBT), CoreCivic (NYSE: CXW), Coterra Energy (NYSE: CTRA), Freshpet (Nasdaq: FRPT), Gogo (Nasdaq: GOGO), International Flavors & Fragrances (NYSE: IFF), James River Group (Nasdaq: JRVR), Kyndryl (NYSE: KD), Manitowoc (NYSE: MTW), Medifast (NYSE: MED), Spirit Realty Capital (NYSE: SRC, Teradata (NYSE: TDC).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Hercules Mulligan (StartEngine), Bioverge (Republic), 5 Generation Bakers (StartEngine), Apphive (MicroVentures), iXperience (StartEngine).

Notable Economic Events Today: N/A.

Hedera’s Early August Surge

Photo by Ethan Robertson / Unsplash

On Sunday, the cryptocurrency Hedera jumped 3% as other digital coins were flat and dropped.

Background: Hedera is the native cryptocurrency for Hashgraph, a distributed ledger that launched in 2017.

Recent Developments: On August 2nd, both the Hyundai Motor Company (OTCMKTS: HYMTF) and Kia (KRX: 000270) announced partnerships with the Hedera Network. The following day, Hedera appointed Andrew Aitken, a former open source expert to the White House, to a leadership post.

Powering the Story: Hedera is up 7.6% on the news, as investors jump on the bandwagon. This surge also indicates that bulls are attempting a comeback with Hedera, according to Cointelegraph.

Final Thoughts: For 2023, Hedera is up over 50%, but it is still considered to be a volatile asset.

Fiesta Restaurant Group Reportedly Gets Acquired

Fiesta Restaurant Group (Nasdaq: FRGI), the parent company of the Pollo Tropical restaurant brand, might be acquired.

Details: The Wall Street Journal reported on Sunday that Authentic Restaurant Brands will buy Fiesta Restaurant Group for $225 million. Both companies did not comment on the report, but the report said that the deal could close today.

Background: Authentic Restaurant Brands owns a portfolio of restaurants, including Primanti Bros.

Stock Price: Fiesta Restaurant Group is up 6% this year, but the stock is down 3% in the last 30 days.

Final Thoughts: In April, Fiesta Restaurant Group appointed a new CEO as the company embarked on a new path forward. The stock price might jump on Monday and some investors might be rewarded.

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