London Lists Bitcoin, Ethereum

Plus, Dell's layoffs amid cost cuts.

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Today is Tuesday, March 26, 2024.

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London Lists Bitcoin, Ethereum

The London Stock Exchange announced Monday that Bitcoin and Ethereum ETNs (exchange-traded notes) will begin trading as a market on May 28.

Background: This announcement comes after the U.S. approved its first spot Bitcoin ETFs (exchange-traded funds) in January. Spot Ethereum ETFs are still not approved in the U.S., but that could change later this year.

Definition: ETNs are very similar to ETFs. The difference is that ETNs do not own the underlying asset.

Price: Bitcoin is up nearly 60% this year. Ethereum is up 54%.

Final Thoughts: This London Stock Exchange approval adds more legitimacy to cryptocurrency. It also gives investors more access to crypto investing options.


Notable Earnings Today: GameStop (NYSE: GME), TD Synnex (NYSE: SNX), McCormick (NYSE: MKC), Progress Software (Nasdaq: PRGS), GDS Holdings (Nasdaq: GDS), Concentrix (Nasdaq: CNXC), nCino (Nasdaq: NCNO), BioLine RX (Nasdaq: BLRX), Bragg Gaming Group (Nasdaq: BRAG), Direct Digital Holdings (Nasdaq: DRCT), Douyu International Holdings (Nasdaq: DOYU), Forge Global Holdings (NYSE: FRGE), Noah Holdings (NYSE: NOAH), Ouster (NYSE: OUST), Panbela Therapeutics (OTCMKTS: PBLA), Ryvyl (Nasdaq: RVYL), Terran Orbital (NYSE: LLAP), VolitionRX (NYSE American: VNRX).

Notable IPOs Today: U-BX Technology Ltd. Ordinary Shares (Nasdaq: UBXG), IB Acquisition Corp. Unit (Nasdaq: IBACU).

Notable Equity Crowdfunding Campaigns Ending Today: Taste Of Nature (PicMii), Sidekicks Salsa (Honeycomb), Headless Mumby Brewing (Honeycomb), AdvisorCheck (Republic), Fiorella Management Group (SMBX).

Notable Economic Events Today: Durable Goods Orders (8:30 a.m. ET), S&P/Case-Shiller House Price Index (9:00 a.m. ET), CB Consumer Confidence (10:00 a.m. ET), Atlanta Fed GDPNow (12:30 p.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Dell's Layoffs Amid Cost Cuts

The technology company Dell (NYSE: Dell) ticked up 0.35% in after-hours trading on Monday after disclosing layoffs as part of a regulatory filing.

Details: The company said it will cut costs in 2024 by limiting external hiring and reducing its overall headcount.

Stock Price: Dell is up 51% this year thanks to the AI boom and stronger-than-expected financial results a few weeks ago.

Final Thoughts: How much longer can Dell afford to cut costs while growing its business? Eventually, layoffs impact growth. The stock is near a five-year high.

Vista Outdoor’s Takeover Offer

Vista Outdoor (NYSE: VSTO), which makes outdoor sports and recreation products, jumped 3.22% on Monday thanks to a takeover offer.

Details: The company confirmed receiving a takeover offer from MNC Capital to buy the stock at $37.50, higher than the current price of $33.30. On March 4, Vista Outdoor rejected a previous bid to acquire the company.

Final Thoughts: These takeover offers have allowed the stock to jump 12% this year.

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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.