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Today is Thursday, September 12, 2024.

The Early Bird Index today is 70.54.

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NETGEAR's 5G Mobile Hotspot 📶

NETGEAR (Nasdaq: NTGR) surged by 27.50% (wow!) in after-hours trading on Wednesday after the computer networking company posted a financial update.

Details: The company raised its third-quarter revenue outlook because of the earlier-than-anticipated launch of NETGEAR’s latest 5G mobile hotspot.

Background: NETGEAR’s stock was up 11% this year thanks to reasonably good financial results in 2024. Even the announcement of the CEO retiring in January couldn’t derail the stock.

Early Bird’s Nest Egg Gains: NETGEAR's introduction of the Nighthawk M7 Pro Mobile Hotspot represents a significant advancement in mobile connectivity technology that could positively impact the company's business and stock performance.

• The Nighthawk M7 Pro is the world's first WiFi 7 5G mobile hotspot, showcasing NETGEAR's innovation in the networking industry.

• The device's premium pricing strategy could potentially improve profit margins. The enterprise-focused offerings with multi-year agreements could provide a steady revenue stream for NETGEAR.

Final Thoughts: While the M7 Pro presents significant opportunities, investors should be aware of potential challenges, such as a competitive environment and margin pressure.

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Notables

Notable Earnings Today: Adobe (Nasdaq: ADBE), Signet Jewelers (NYSE: SIG), RH (NYSE: RH), Kroger (NYSE: KR), Caleres (NYSE: CAL), Lovesac (Nasdaq: LOVE), ADS-TEC Energy (Nasdaq: ADSE), Farmer Bros. (Nasdaq: FARM), Innate Pharma (Nasdaq: IPHA), Ispire Technology (Nasdaq: ISPR), MYT Netherlands (NYSE; MYTE), Turkcell (NYSE: TKS).

Notable IPOs Today: Galaxy Payroll Group Limited Ordinary Shares (Nasdaq: GLXG), Eureka Acquisition Corp Class A Ordinary Share (Nasdaq: EURK), Kairos Pharma, Ltd. (NYSE American: KAPA), Impact BioMedical, Inc. (NYSE American: IBO).

Notable Equity Crowdfunding Campaigns Ending Today: Daylily Coffee (Honeycomb), Dah Dah Creative Play (Honeycomb), Bruno’s Food Truck (Honeycomb), Fathom Video (Wefunder).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Producer 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).

23andMe's Takeover Proposals

23andMe (Nasdaq: ME) jumped 9.56% in after-hours trading on Wednesday after the CEO made comments about the biotechnology company’s future.

Details: In a regulatory filing Wednesday, CEO Anne Wojcicki said that she is “open to considering third party takeover proposals” for the company.

Background: 23andMe is down 66% this year. The company is experiencing severe financial difficulties and has made drastic cuts. There are regulatory and business model challenges.

Final Thoughts: The rumor of a takeover might be the only thing that excites investors of this stock.

Oxford Industries Posts Bad Results

Clothing company Oxford Industries (NYSE: OXM) fell 10.41% in after-hours trading on Wednesday after posting bad financial earnings results.

Financials: Oxford Industries reported earnings of $2.77 per share in the past quarter and revenue of $419.9 million; both were lower than expected.

Final Thoughts: The company warned about declining consumer sentiment in the quarter.

Trends to Watch

Can’t Keep Up: 3 reasons why Ethereum price has lagged behind Bitcoin in 2024 (Cointelegraph)

Improvement: Consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021 (CNBC)

Good Question: Are Ethereum Staking Yields Too High? (CoinDesk)

More Boeing Challenges: Boeing faces possible strike on Friday over labor contract (Reuters)

Major Investment: OpenAI Fundraising Set to Vault Startup’s Valuation to $150 Billion (Bloomberg)

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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.}