Today is Monday, June 12, 2023.
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Investor Sentiment Analysis
Early Bird is back and has a new tool to help investors gauge the current state of the market. Introducing the Early Bird Index.
A comprehensive measurement to gauge the prevailing sentiment and overall outlook of investors in the market.
On a scale of 0 to 100. The higher the number, the more optimistic investors should be about the market. The lower the number, the more pessimistic investors should be.
Updated daily and 100% FREE.
Notable Earnings Today: Oracle (NYSE: ORCL), ECARX Holdings (Nasdaq: ECX).
Notable IPOs Today: Stellar Bancorp, Inc. (NYSE: STEL), Ares Acquisition Corporation II (NYSE: AACT), Fidelity Disruptive Finance ETF (Nasdaq: FDFF), Fidelity Disruptive Medicine ETF (Nasdaq: FMED), Fidelity Disruptive Technology ETF (Nasdaq: FDTX), Fidelity Disruptive Communications ETF (Nasdaq: FDCF), Fidelity Disruptive Automation ETF (Nasdaq: FBOT), Indivior PLC Ordinary Shares (Nasdaq: INDV), EVe Mobility Acquisition Corp (NYSE American: EVE).
Notable Equity Crowdfunding Campaigns Ending Today: BuyAlerts (Republic).
Notable Economic Events Today: Federal Budget Balance (2:00 p.m. ET).
Illumina CEO Exits Following Investor Clash
Photo by National Cancer Institute / Unsplash
Amid activist investor pressure, the CEO of the biotechnology company Illumina (NASDAQ: ILMN) suddenly announced that he is stepping down on Sunday.
Details: Francis deSouza resigned from the CEO role on Sunday, but will stay on in an advisory capacity until July 31. Charles Dadswell, senior vice president, is now interim CEO. A search is underway for a permanent successor.
Quote: “We have made great progress together, but I believe we are still at the very beginning of the impact Illumina will have on human health by unlocking the power of the genome.” - former Illumina CEO Francis deSouza.
Background: Illumina has been in a proxy fight with activist investor Carl Icahn, who previously tried to replace the CEO. Last month, Icahn convinced enough shareholders to get rid of Chairman John Thompson.
Stock Price: Shares of Illumina are about even so far in 2023.
Final Thoughts: The biotech space can be tough for investors to predict. Hopefully, with a leadership change, Illumina can someday grow.
Polygon Speaks Out
The price of Polygon ticked up 2% on Sunday, higher than most other cryptocurrencies, due in part to a strong social media post on Saturday.
Details: Polygon Labs wrote on social media late Saturday that it is proud of its history and it is “grateful for all the thoughtful work being done on all aspects of this technology around the globe, including by regulators & policymakers.”
Background: The comments come days after regulators have been cracking down on Polygon and other cryptos.
Price: In the past week, Polygon lost nearly 30% of its value.
Final Thoughts: Crypto investments are considered volatile, especially in light of the recent regulatory actions.
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Trends to Watch
Sell, Sell, Sell: Companies, Big Investors Sell Shares at Fastest Rate in Years (The Wall Street Journal)
Full of Hot Air: Fossil fuel company net zero plans 'largely meaningless,' report says (Reuters)
Some Positivity: A sideways Bitcoin price could lead to breakouts in ETH, XRP, LDO and RNDR (Cointelegraph)
Special Delivery: New York City announces minimum wage for app food delivery workers (CNN)
Not Rubbish: Andreessen Horowitz announces first international expansion—a U.K. crypto outpost (Fortune)
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