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Today is Thursday, November 7, 2024.

The Early Bird Index today is 77.21.

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Bitcoin's Post-Election Rally 🚀

Bitcoin reached a record high of $76,000 in value on Wednesday after the 2024 presidential election results showed that Donald Trump was going to win.

Details: Bitcoin supporters have been bullish on Trump’s 2024 candidacy after he positioned himself as a strong advocate for cryptocurrencies with policies such as the development of a national Bitcoin reserve.

Early Bird’s Nest Egg Gains: During Donald Trump's first term as president from 2017 to 2021, his administration's approach to Bitcoin and cryptocurrencies was generally characterized by a hands-off attitude, though Trump himself expressed skepticism about digital currencies.

Final Thoughts: The price of Bitcoin is up 70% in 2024.

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Notables

Notable Earnings Today: DraftKings (Nasdaq: DKNG), Airbnb (Nasdaq: ABNB), Pinterest (NYSE: PINS), The Trade Desk (Nasdaq: TTD), Block (NYSE: SQ), Datadog (Nasdaq: DDOG), Rivian Automotive (Nasdaq: RIVN), Affirm (Nasdaq: AFRM), Hanesbrands (NYSE: HBI), Fortinet (Nasdaq: FTNT), Hershey Foods (NYSE: HSY), Under Armour (NYSE: UAA), Moderna (Nasdaq: MRNA), Arista Networks (NYSE: ANET), Halliburton (NYSE: HAL), Krispy Kreme (Nasdaq: DNUT), Papa John's (Nasdaq: PZZA), Expedia Group (Nasdaq: EXPE), Unity Software (NYSE: U), Molson Coors Brewing (NYSE: TAP), Canada Goose (NYSE: GOOS), Warner Bros. Discovery (Nasdaq: WBD), Sweetgreen (NYSE: SG), PENN Entertainment (Nasdaq: PENN), Toast (NYSE: TOST), Medical Properties Trust (NYSE: MPW), Planet Fitness (NYSE: PLNT), Cameco (NYSE: CCJ),  A10 Networks (NYSE: ATEN), ACI Worldwide (Nasdaq: ACIW), ACM Research (Nasdaq: ACMR), Air Lease (NYSE: AL), Air Products (NYSE: APD), Akamai Technologies (Nasdaq: AKAM), Array Technologies (Nasdaq: ARRY), AvePoint (Nasdaq: AVPT), Axon (Nasdaq: AXON), Barrick Gold (NYSE: GOLD), Becton Dickinson (NYSE: BDX), Bentley Systems (Nasdaq: BSY), BigCommerce (Nasdaq: BIGC), Blink Charging (Nasdaq: BLNK), Carlyle Group (Nasdaq: CG), Ceva (Nasdaq: CEVA), Cloudflare (NYSE: NET), Cryoport (Nasdaq: CYRX), Dentsply Sirona (Nasdaq: XRAY), Doximity (NYSE: DOCS), Dropbox (Nasdaq: DBX), Duke Energy (NYSE: DUK), DXC Technology (NYSE: DXC), EPAM Systems (NYSE: EPAM), Evergy (Nasdaq: EVRG), Five9 (Nasdaq: FIVN), Genpact (NYSE: G), Getty Images (NYSE: GETY), GoodRx (Nasdaq: GDRX), GoPro (Nasdaq: GPRO), H & R Block (NYSE: HRB), Hain Celestial (Nasdaq: HAIN), Hilton Grand Vacations (NYSE: HGV), Inogen (Nasdaq: INGN), Insulet (Nasdaq: PODD), International Seaways (NYSE: INSW), Kenvue (NYSE: KVUE), Kimbell Royalty Partners (NYSE: KRP), Lightspeed (NYSE: LSPD), MACOM Tech (Nasdaq: MTSI), Magnite (Nasdaq: MGNI), Manulife Financial (NYSE: MFC), Maravai Life Sciences (Nasdaq: MRVI), MeridianLink (NYSE: MLNK), MoneyLion (NYSE: ML), Monster Beverage (Nasdaq: MNST), Motorola Solutions (NYSE: MSI), News Corp. (Nasdaq: NWSA), Nexstar (Nasdaq: NXST), nLIGHT (Nasdaq: LASR), Nova Measuring (Nasdaq: NVMI), Opendoor Technologies (Nasdaq: OPEN), Oscar Health (NYSE: OSCR), Pacific Biosciences (Nasdaq: PACB), PG&E (NYSE: PCG), Pitney Bowes (NYSE: PBI), Prestige Consumer (NYSE: PBH), Ralph Lauren (NYSE: RL), Redfin (Nasdaq: RDFN), Rockwell Automation (NYSE: ROK), Sprout Social (Nasdaq: SPT), Steven Madden (Nasdaq: SHOO), Taboola (Nasdaq: TBLA), Tapestry (NYSE: TPR), Telus (NYSE: TU), Tempur Sealy International (NYSE: TPX), Thryv (Nasdaq: THRY), Upstart (Nasdaq: UPST), US Foods (NYSE: USFD), Vericel (Nasdaq: VCEL), Viatris (Nasdaq: VTRS), Vistra (NYSE: VST) Warby Parker (NYSE: WRBY), WK Kellogg Co (NYSE: KLG), YETI Holdings (NYSE: YETI).

Notable IPOs Today: DevvStream Corp. Common Stock (Nasdaq: DEVS), Aduro Clean Technologies Inc. Common Stock (Nasdaq; ADUR).

Notable Equity Crowdfunding Campaigns Ending Today: ACRE (SMBX).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), U.S. Nonfarm Productivity (8:30 a.m. ET), Unit Labor Costs (8:30 a.m. ET), Retail Inventories Excluding Auto (10:00 a.m. ET), Fed Interest Rate Decision / FOMC Statement (2:00 p.m. ET), Consumer Credit (3:00 p.m. ET), Fed's Balance Sheet (4:30 p.m. ET).

Lyft Raises Full-Year Outlook

Lyft (Nasdaq: LYFT) surged 20.35% in after-hours trading on Wednesday after posting a better-than-expected outlook with its financial earnings results.

Financials: Lyft reported a loss of 3 cents per share in the past quarter, which was expected. It also reported revenue of $1.5 billion, which was better than expected.

Powering the Story: The company raised its full-year outlook, with rides growth in the mid-teens year-over-year and bookings up 17%.

Final Thoughts: Before these results, Lyft’s stock was up 4% in 2024.

Qualcomm’s $15 Billion Stock Buyback

A combination of good financial results and a new $15 billion stock buyback sent shares of Qualcomm (Nasdaq: QCOM) up 6.28% in after-hours trading on Wednesday.

Final Thoughts: The stock was already up 23% this year.

Trends to Watch

Lovin These Results: AppLovin Stock Soars As Software Firm Crushes Q3 Targets (Investor’s Business Daily)

Grand Theft Success: Take-Two hits targets for September quarter with $1.47B in net bookings (VentureBeat)

Beautiful: E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain (CNBC)

Slumping: Arm forecasts results in line with expectations and shares drop (Reuters)

Welcome Home: Zillow Group Shares Jump After Narrowing 3Q Loss, Posting Higher-Than-Expected Revenue (MarketWatch)

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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.}