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Today is Thursday, October 10, 2024.

The Early Bird Index today is 73.62.

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E2open Parent’s Deal Delays 🤔

E2open Parent Holdings (NYSE: ETWO) dropped 20.10% in after-hours trading on Wednesday after reporting disappointing financial earnings results.

Details: E2open reported earnings of 5 cents per share in the past quarter, which was expected. However, revenue only reached $152.2 million and missed estimates.

Quote: “We also experienced delays in closing certain large, complex deals due to extended client decision timelines.” - CEO Andrew Appel.

Outlook: As a result of the deal delays, E2open lowered its full-year guidance. It now expects revenue in the range of $607 million to $617 million. The previous range was $630 million to $645 million.

Stock Price: E2open, which makes software for supply chains, was down 6.64% in 2024.

Early Bird’s Nest Egg Gains: E2open has faced several challenges in 2024, leading to a less-than-ideal performance. The company faced several operational hurdles. E2open's future outlook appears less promising compared to its industry peers.

Final Thoughts: While E2open has made some progress in improving retention and increasing quarterly subscription bookings, the overall picture remains challenging as the company works to overcome these obstacles and return to sustainable growth.

Notables

Notable Earnings Today: Delta Air Lines (NYSE: DAL), Tilray (Nasdaq: TLRY), Domino's Pizza (NYSE: DPZ), Neogen (Nasdaq: NEOG), Aehr Test Systems (Nasdaq: AEHR), Theratechnologies (Nasdaq: THTX).

Notable IPOs Today: Moove Lubricants Holdings (NYSE: MOOV).

Notable Equity Crowdfunding Campaigns Ending Today: Whiff and Nibble Novelty Gifts (Honeycomb), Well Water Finders (Netcapital), Finney's Arcade (Honeycomb), Precision Wellness (SMBX).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Consumer Price Index / Core CPI (8:30 a.m. ET), Federal Budget Balance (2:00 p.m. ET), Fed's Balance Sheet (4:30 p.m. ET).

Bitcoin Slips Amid Satoshi Debate

Bitcoin fell about 2% on Wednesday as former developer Peter Todd denied reports that he created the popular cryptocurrency.

Background: Satoshi Nakamoto is the presumed pseudonym of the anonymous individual who developed Bitcoin.

Details: An HBO documentary aired on Tuesday called Money Electric: The Bitcoin Mystery. The documentary identified Todd as Satoshi Nakamoto, which Todd said was “ludicrous.”

Final Thoughts: Bitcoin’s price is up 14% in the last 30 days.

Costco Grows September Sales

Shares of Costco (Nasdaq: COST) ticked up 0.17% in after-hours trading on Wednesday after the retail giant disclosed September sales.

Details: Comparable sales jumped 6.7% in September. Excluding gas, it went up 8.9%. E-commerce sales surged by 22.9%

Final Thoughts: Costco is up 39% this year.

Trends to Watch

Catastrophic Storm: Hurricane Milton could cost $60bn in insurance losses (Financial Times)

The Windiest Place on Earth: Disney World and Universal closures halt Orlando tourism as Milton approaches (Associated Press)

How Aggressive: Fed officials were divided on whether to cut rates by half a point in September, minutes show (CNBC)

Changing Consumer Landscape: Home Depot Is Dropping Warehouses in a Shifting Retail Market (Wall Street Journal)

Chip Surge: Broadcom’s stock stands alone in the chip sector as it nears new high (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.}