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Boeing Ready for 2023 Takeoff
Details: After dealing with challenges during the pandemic, Dusina says that Boeing is a good turnaround story to invest in.
Catalysts: Dusina likes Boeing because of the current recovery in the travel industry, rising delivery rates for commercial airspace manufacturers, and because airlines are ready to retire their old airplanes in order to buy new ones.
But: There are still risks with Boeing. Dusina said that those concerns could include issues with supply chain challenges and air traffic growth.
Final Thoughts: What will happen to Boeing if there’s a recession? Is there still room for Boeing, which is up 10% in the last year, to grow? Dusina explains everything in a new episode of the Early Bird podcast.
Notable Earnings Today: Ciena (NYSE: CIEN), HighPeak Energy (Nasdaq: HPK), Nutanix (Nasdaq: NTNX), Biodesix (Nasdaq: BDSX), Trip.com (Nasdaq: TCOM), Adaptimmune (Nasdaq: ADAP), Domo (Nasdaq: DOMO), Lordstown Motors (Nasdaq: RIDE), AeroVironment (Nasdaq: AVAV), L.B. Foster (Nasdaq: FSTR), Cara Therapeutics (Nasdaq: CARA), Science 37 Holdings (Nasdaq: SNCE), Guidewire Software (NYSE; GWRE), Passage Bio (Nasdaq: PASG), CECO Environmental (Nasdaq: CECO), Dave (Nasdaq: DAVE), Quanterix (Nasdaq: QTRX), WW (Nasdaq: WW), Calavo Growers (Nasdaq: CVGW).
Notable IPOs Today: Inpixon Common Stock Ex-distribution When Issued (Nasdaq: INPXV), CXApp Inc. Class A Common Stock When Issued (Nasdaq: CXAIV).
Notable Equity Crowdfunding Campaigns Ending Today: EV Solar Kits (MicroVentures), StartupWind (StartEngine), Mayes NYC (Honeycomb).
Notable Economic Events Today: Factory Orders (10:00 a.m. ET).
Credit Suisse Reportedly Loses Top Investor
Photo by regularguy.eth / Unsplash
The top shareholder for the financial services giant Credit Suisse (NYSE: CS) has reportedly sold its entire stake in the company.
Details: The Financial Times reported on Sunday that investment manager Harris Associates, which owned as much as 10% of Credit Suisse last year, has now divested completely. Harris Associates said that it sold its shares because of “a question about the future of the franchise.”
Background: Last year was Credit Suisse’s biggest annual loss since the financial crisis in 2008. Customers withdrew a lot of funds from the bank during the final three months of 2022.
Stock Price: Shares of Credit Suisse are down 56% in the last 12 months and are down 13% in the last 30 days.
Final Thoughts: Bank stocks are still solid investments, but Credit Suisse is in financial trouble.
Equity Crowdfunding Spotlight: Phantom Phood
Briefly describe your business. Phantom Phood is the Airbnb of events and experiences; a community-driven marketplace for customers to book vendors and creators (chefs, caterers, bartenders, venue hosts, restaurants, and artists) and select seats at vendor-led events.
What are the terms of the investment for your campaign? Currently raising $2M on a SAFE (Simple Agreement for Future Equity) on a $12M Cap. See Republic for details.
Why will your startup succeed? Phantom Phood is primed for success. With a profitable exit from a previous startup, our founders have the experience needed to create a platform that meets the demand for entrepreneurship. We're confident in our ability to help businesses thrive.
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Trends to Watch
Arms Race: SoftBank's Arm aims to raise at least $8 billion in U.S. IPO, sources say (Reuters)
Admit It: Wall Street Concedes There Is Finally an Alternative to Stocks (The Wall Street Journal)
No Pressure: Stock Market’s Fate Comes Down to the Next 13 Trading Sessions (Bloomberg)
Shut Down: Amazon to close 8 of its cashierless Go convenience stores (MarketWatch)
Near Key Support: Bitcoin price faces ‘last stand’ as weekly close threatens $22K retest (Cointelegraph)
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