Boeing Rekindles Relationship

And, Asana's $150 million stock buyback.

June 21, 2024

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Today is Friday, June 21, 2024.

The Early Bird Index today is 74.68.

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PRESENTED BY MEGACHARTS

Nvidia’s Incredible 3,000% Growth, Explained

Shares of Nvidia (Nasdaq: NVDA) are up over 3,000% in the last 5 years. But beyond the chart, what metrics specific to Nvidia can investors view to truly understand what’s behind this company’s incredible growth?

By Segment: Data Centre, Gaming, Professional Visualization, Automotive, OEM and Other.

By Geography: U.S, Taiwan, China, Other Countries.

By R&D: R&D Expenses and R&D Spending as a Percentage of Revenue.

Final Thoughts: The research platform MegaCharts has free charts with all this data for Nvidia. Check out MegaCharts today and become the smartest investor out of your friend group.

Boeing Rekindles Relationship

It’s been a lousy year for Boeing (NYSE: BA), but there might finally be some good news for the troubled aerospace giant.

Details: Reuters reported Thursday that Boeing is nearing a deal to buy back aerostructure manufacturer Spirit AeroSystems (NYSE: SPR), which jumped 4.23% in after-hours trading. The companies did not comment on the report. Acquisition talks began earlier this year but reportedly stalled due to Spirit’s ongoing work for Boeing rival Airbus (OTCMKTS: EADSY). 

  • However, the report said that “good progress” has been made in talks to divide Spirit’s work for Airbus.

  • Barring last-minute snags, the report said that a deal could be reached within days or weeks (just in time for the busy summer travel season).

History: Boeing spun off Spirit in 2005.

Recent History: Numerous mistakes, including well-publicized safety incidents, have weighed down Boeing this year. Early Bird Prime documented everything you need to know about Boeing in 2024.

Stock Prices: Boeing is down 29.97% this year. Spirit is up 2.93%. Airbus is up 3.01%.

Early Bird’s Nest Egg Gains: Boeing’s long-standing rival with Airbus might be driving this Spirit deal to improve its supply chain, especially with safety in mind. From 2008 to 2019, Boeing 737s had more accidents and fatalities than the Airbus A32x, according to a Cornell University study in 2024.

Final Thoughts: Closing this Spirit deal might be the first good thing to happen to Boeing in 2024.

Notables

Notable Earnings Today: CarMax (NYSE: KMX), FactSet Research Systems (NYSE: FDS).

Notable IPOs Today: Churchill Capital Corp IX Ordinary Shares (Nasdaq: CCIX), OS Therapies Incorporated (NYSE American: OSTX).

Notable Equity Crowdfunding Campaigns Ending Today: MISAA (Netcapital), hobbyDB (Wefunder), Seir Hill (Netcapital).

Notable Economic Events Today: S&P Global Services PMI (9:45 a.m. ET), S&P Global US Manufacturing PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), Existing Home Sales (10:00 a.m. ET), U.S. Leading Indicators (10:00 a.m. ET).

Asana's $150 Million Stock Buyback

Source: Asana

Work management platform Asana (NYSE: ASAN) jumped 3.52% in after-hours trading on Thursday after disclosing a $150 million stock buyback and reaffirming its fiscal guidance.

Stock Price: Asana is down 35% this year, with most of the decline in the last month.

Final Thoughts: Asana’s struggles reflect the challenges of enterprise software providers in 2024.

LendingTree’s Cyberattack Complications

LendingTree (Nasdaq: TREE) fell 2.48% in after-hours trading on Thursday after Bloomberg reported that hackers are selling data about the lending marketplace’s consumers online. Exact details about the hack are still being determined.

Stock Price: LendingTree is up 38% this year, but down 10% in the last 30 days.

Final Thoughts: Despite a good 2024, this cyber incident is holding LendingTree back.

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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.