Good MorningInvestors breathed a sigh of relief on Tuesday after the first big reports of the earnings season were released. Reports from the likes of JP Morgan, Wells Fargo, and Citigroup were a mixed bag but suggest two things are true about the economy. The first is that the economic downturn did not have as big an impact on earnings as expected. The second is that current consensus figures for full-year 2020 are too low.
Equities markets advanced on the news although the action on Tuesday saw some volatility. The S&P 500 was up 1.35% by the end of the day although gains were capped by big tech. The S&P 500 Technology Select Sector ETF advanced a smaller 0.50% due to weakness in the FAANG names. The upshot is that both the ETF and FAANG stocks made solid bounces from key support levels so higher prices are still in the forecast.
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Although the stock market has been in a clear uptrend for months, there are plenty of valid concerns about the state of the U.S. economy at this point. Unemployment remains high and we are still learning about the true extent of the economic damage caused by lockdowns and the pandemic. In early Ju... Read the Full Story |
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Markets | | | For a non-travel or hospitality-related business, AT&T (NYSE: T) is certainly making hard work of its recovery from Q1’s crash. Granted, it’s not an e-commerce business or an obvious winner from the fast-growing work-from-home economy, but still, it’s a $200 billion telecommuni... Read the Full Story |
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Markets | | | Don’t Underestimate This Market
Shares of Fastenal (NASDAQ: FAST) have staged a stunning and largely underreported rebound since hitting their post-pandemic bottom. Supported by an equally stunning rebound in the housing data, Fastenal has seen its share prices advance 57% to exceed the pre-p... Read the Full Story |
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Somewhere between “major international corporation,” “scrappy local success story”, and “beleaguered dinosaur” lies Ford (NYSE: F), a company that's been making history for decades but is increasingly under fire from a growing range of competitors. As other corp... Read the Full Story |
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Stocks | | | there have been a number of companies that have also benefited, but haven’t had as much market attention… at least for now. These three surprising names look likely to benefit from this year’s COVID outbreak Read the Full Story |
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The Early Bird Stock Of The Day Angi Inc. connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals. The company's Ads and Leads segment connects consumers with service professionals for local services through nationwide network of service professionals in various service categories; provides consumers with valuable tools, services, and content, including verified reviews, to help them research, shop, and hire for local services; and sells term-based website, mobile, and magazine advertising to certified service professionals, as well as services and tools, including quoting, invoicing, and payment services. This segment provides consumers access to online True Cost Guide, which provides project cost information for various project types, as well as a library of home services-related content. Its Services segment offers a pre-priced offering, pursuant to which consumers can request services through Angi and Handy branded platforms and pay for such services on the applicable platform directly; and provides professionals with access to a pool of consumers seeking service professionals and must validate their home services experience, as well as attest to holding the requisite license(s) and maintain an acceptable rating to remain on Services platforms. The company's International segment operates Travaux, MyBuilder, MyHammer, Werkspo, and Homestars home services marketplaces. The company was formerly known as ANGI Homeservices Inc. and changed its name to Angi Inc. in March 2021. The company was incorporated in 2017 and is headquartered in Denver, Colorado. Angi Inc. operates as a subsidiary of IAC Inc. | | View Today's Stock Pick |
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