Stock Earnings Season Recap

And, Macy’s suitors up buyout offer.

Today is Monday, March 4, 2024.

The Early Bird Index today is 72.47.

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Stock Earnings Season Recap

What can this recent earnings season tell us about the state of the market? Kevin Luthringshausen, the chief content officer at The Tradier Hub, discusses this topic in a new episode of the Early Bird podcast.

In Focus: Luthringshausen says that the “Magnificient Seven” big tech stocks stood out during earnings season this quarter because of the artificial intelligence boom and other factors. 

  • Meta Platforms (Nasdaq: META) rolled out a dividend, which Luthringshausen said was a big deal for retail traders. Other stocks such as Tesla (Nasdaq: TSLA) and Apple (Nasdaq: AAPL) struggled for different reasons.

Zooming Out: Other stocks that Luthringshausen said had good earnings this quarter included Procter & Gamble (NYSE: PG), United Airlines (Nasdaq: UAL), and JPMorgan Chase (NYSE: JPM).

What Matters: Despite inflation, a tough macroeconomic environment, and global wars, Luthringshausen said that the market is still strong and resilient. He said that sentiment was good.

Final Thoughts: What advice does Luthringshausen have for investors? What will the big themes be during the next earnings season? Find out by listening to a new episode of the Early Bird podcast.

The OpportunistTruly unorthodox business ideas based on how the world has changed over the last week


Notable Earnings Today: Stitch Fix (Nasdaq: SFIX), Sea Limited (NYSE: SE), GitLab (Nasdaq: GTLB), Paymentus Holdings (NYSE: PAY), Avadel Pharmaceuticals (Nasdaq: AVDL), AeroVironment (Nasdaq: AVAV), Ekso Bionics Holdings (Nasdaq: EKSO), Eos Energy Enterprises (Nasdaq: EOSE), Global Ship Lease (NYSE: GSL), Modiv Industrial (NYSE: MDV-A), Nektar Therapeutics (Nasdaq: NKTR), Semrush Holdings (NYSE: SEMR), (Nasdaq: SOHU), ThredUp (Nasdaq: TDUP).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Squash the Beef (Honeycomb), Origo Brands (StartEngine), Cebu Chicago (Honeycomb), The Drivers Cooperative (Wefunder), Atlas News (StartEngine).

Notable Economic Events Today: N/A.

Macy's Suitors Up Buyout Offer

Macy’s (NYSE: M) confirmed on Sunday that it received an updated offer from two investment firms to acquire the company.

Details: Arkhouse Management and Brigade Capital Management placed a new bid to acquire Macy’s at $24 per share in cash. The price is 33% higher than Macy’s current stock price. Macy’s said that it will review the offer.

Background: The two investment firms first submitted their buyout offer for Macy’s in December. Since then, Macy’s restructured its company by closing 150 stores. The company also increased its dividend to attract investors.

Stock Price: Macy’s is down 8% in 2024 and down 16% in the last 12 months.

Final Thoughts: If Macy’s got acquired and went private, it would be a sign that retail companies are better off staying out of the public markets.

Dogecoin Jumps on Sunday

The price of Dogecoin jumped 9% on Sunday, higher than most other cryptos. It was one of the best days so far for Dogecoin in 2024.

Final Thoughts: Dogecoin is up 69% in the last 12 months. The odd thing is that other so-called meme coins did not experience the same price surge on Sunday.

Like the 90s All Over Again: Nvidia’s Surge Stokes Talk of a Bubble (Wall Street Journal)

Until the Summer: OPEC to Extend Oil Production Cuts Through June (The New York Times)

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The contents from Early Bird are for informational and entertainment purposes only and do not constitute financial or legal advice.