In partnership with

Today is Tuesday, December 3, 2024.

The Early Bird Index today is 82.85

New to this newsletter? Sign up here

Chainlink's Europe Partnership 🌍

A new partnership announcement drove a 30% price increase for the cryptocurrency Chainlink on Monday.

Details: 21X, a tokenized securities trading and settlement system in Europe, said it will use Chainlink to enrich tokenized assets with high-quality data and facilitate cross-chain interoperability. 

Quote: “By leveraging the Chainlink standard, 21X will ensure its matching and settlement system is underpinned by highly accurate and reliable market data.” - Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs.

Price: Chainlink is now worth about $24, a level it hasn’t reached since 2022. It is up 53% this year, with most of the gain in the last 2 weeks.

Early Bird’s Nest Egg Gains: Chainlink has experienced significant price volatility throughout 2024, with adoption among financial institutions impacting the price. It has also been affected by broader economic conditions and investor sentiment in the crypto space.

Final Thoughts: 21X plans to launch in the first quarter of 2025. The launch could impact Chainlink and the broader crypto market.

The $9M Market Cap Mystery: Why We Believe This Stock is Grossly Undervalued

Bank of America Predicts Gold Will Hit $3,000 by 2025 — This Gold Stock is Just Getting Started.

As gold climbs once again, savvy investors are paying attention. This under-the-radar stock has already posted impressive gains and continues to see strong insider buying, signaling significant growth ahead.

Up 200% in recent years and primed for the next breakout, this hidden gem stock is one you don’t want to miss adding to your watchlist.

Learn About This Winning Stock

This is a sponsored advertisement on behalf of Four Nines Gold. Past performance does not guarantee future results. Investing involves risk. View the full disclaimer here: https://shorturl.at/73AF8

Notables

Notable Earnings Today: Salesforce (NYSE: CRM), Core & Main (NYSE: CNM), Okta (Nasdaq: OKTA), Donaldson (NYSE; DCI), Marvell Technology (Nasdaq: MRVL), Box (NYSE: BOX), Torrid (NYSE: CURV), Couchbase (Nasdaq: BASE),  Descartes Systems Group (Nasdaq: DSGX), Inotiv (Nasdaq: NOTV), Pure Storage (NYSE: PSTG), REX American Resources (NYSE: REX).

Notable IPOs Today: Aspen Insurance Holdings Limited (NYSE: AHL), Jupiter Neurosciences, Inc. Common Stock (Nasdaq: JUNS).

Notable Equity Crowdfunding Campaigns Ending Today: FinLitX (Netcapital), Pacha (Wefunder), Making Fun (StartEngine), Edison XFC (StartEngine), Neuritek (StartEngine).

Notable Economic Events Today: JOLTS Job Openings (10:00 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Zscaler's Conservative Outlook

Despite posting strong financial earnings results on Monday, cloud security company Zscaler (Nasdaq: ZS) fell 8.25% in after-hours trading.

Financials: Zscaler reported earnings of 77 cents per share in the past quarter and revenue of $628 million; both better than expected.

Outlook: The problem was Zscaler’s outlook, which appears too conservative. The company expects revenue in the current quarter to be between $633 million to $635 million. It forecasts annual revenue between $2.623 billion to $2.643 billion.

Final Thoughts: It’s another setback for Zscaler, which was already down 1.82% in 2024.

Microchip Cuts Revenue Outlook

Microchip Technology (Nasdaq: MCHP) declined by 2.86% in after-hours trading on Monday after lowering its revenue outlook and closing a factory.

Final Thoughts: This outlook reduction should be no surprise to Microchip investors as the stock was previously down 18.77% this year.

Trends to Watch

Super Good News: Super Micro pops nearly 30% after special committee finds no ‘evidence of misconduct’ (CNBC)

No Surprises Here: Intel CEO Forced Out by Board Frustrated With Slow Progress (Bloomberg)

Good News, But Actually Bad: Honeywell announces a new collaboration with Bombardier. But it’ll weigh on this year’s profit. (MarketWatch)

Powering Down Its Stake: G.M. Will Sell Stake in E.V. Battery Plant to Its Partner LG (New York Times)

Danger: Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’ (Financial Times)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Pick winning stocks: Upgrade to Early Bird Prime

Be social: Like our Facebook page and follow us on Twitter.

Want more investing tips? Listen to the podcast.

Show your support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.

_{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.}