- Stocks & Income
- Posts
- š“ Booking.com and Expedia blew out earnings
š“ Booking.com and Expedia blew out earnings
šļø And unemployment stayed near record lows
Wyatt from Alts
03 May
For all the history nerds here, I did a deep dive into the end of the bronze age and what that tells us about the world today. Check it out.
š¾ From the farm to your bank account
To feed the worldās growing population, farmers will need to produce as much food over the next 40 years as they produced in the last ten thousand.
We'll need big investments in farms and agribusinesses. That's why āHarvest Returnsā offers exclusive private opportunities for investing in farming and ranching operations.
It's hard to imagine a world where farmland investing isn't valuable. That's where Harvest Returns comes in.
Invest in:
š Ranches and Farms
Invest in helping American farmers start + grow operations.
You can invest in projects such as hydroponic farms, indoor aquaculture facilities, or vineyards for $5,000
š± AgTech Companies
Precision drones + biotech is revolutionizing the way food is grown.
Harvest Returns provides investors access to āhigh-potential, early stage AgTech companiesā.
Lately we've been exploring Harvest's newest offering: their āPrivate Credit Fundā.
š Private Credit Fund
Diversified assets across varied agriculture sectors+geos
1-3 year maturity debt notes (to leverage high interest rates)
Quarterly cash distributions.
First distribution is projected for JuneHigh targets: 14.5% IRR and a 1.5x exit multiple
š° Market Headlines
Stocks settled into their rally after the Fed signaled a dovish bias.
āIt is unlikely the next policy move will be a hike" were the key words from Powell during a press conference.
TheĀ Dow Jones Industrial AverageĀ gained 0.85%, while the S&P 500 rose 0.91% and the Nasdaq jumped 1.51%.
Apple announced a record $110 billion share buyback after its earnings report beat expectations but revealedĀ a 4% decrease in overall revenue and a 10% fall in iPhone sales. [Ed: If there was any doubt about Appleās path forward before, there isnāt anymore]
Sony and Apollo sent a letter to Paramount's board expressing interest in aĀ $26 billion buyoutĀ as the company mulls a bid from Skydance Media.
CoinbaseĀ postedĀ a sizable jump in Q1 profit, driven by an uptick in crypto trading after the Bitcoin ETFs launched in January.
š¶ļø Market Vibes
š° Market Forecasts and Futures
Markets have given up on a June cut. November is now the earliest likely(ish) date.
š± Fear and Greed Index
š¤ What you said last time
The vast majority of you think war is a legitimate worry.
š Trends you need to know
.
56% more Americans are trying to figure out how to declare bankruptcy today than one year ago.
š§ What do you think?
š¬ Have your say
Do you know anyone declaring bankruptcy? |
š Stocks
Get $20 free shares at āpublic.comā using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
ModernaĀ closed more than 12% higher after posting a narrower-than-expected Q1 loss.
Peloton's stock plunged to an all-time low after CEO Barry McCarthy unveiled plans for his departure and a 15% global workforce reduction.
DraftKingsĀ announced better-than-expected results in Q1 CY2024, with revenue up 52.7% year over year and shares rising 2.9%.
ExpediaĀ beat earnings estimates and revenue, closing trading 2.2% higher.
BookingĀ blew away Q1 earnings expectations, launching shares more than 9%.
WayfairĀ reported revenue slightly above estimates, but posted a larger-than-expected net loss; shares rose 14%.
ConocoPhillipsĀ missed Q1 earnings estimates and revenue, dropping shares nearly 2%.
The Cigna GroupĀ fell 3.5% despite surpassing Q1 EPS estimates and raising its full-year 2024 outlook.
Market movers
Democratic Sen. Ed Markey introduced the first federal bill to regulate warehouse employers' use ofĀ productivity quotas, taking aim at Amazon's labor practices.
An internal memo revealed Amazon is requiring its AWS Global Summit events to spend up toĀ 80% of their time talking about generative AI.
Wells FargoĀ announced more layoffs in Iowa on the same day shareholders voted to increase the CEO's pay by $4.5 million.
Ideas, trends, and analysis
The number of Americans filing for unemployment remainedĀ historically lowĀ at 208,000 last week.
Mortgage rates climbed to 7.22%, theĀ highest level in over 5 months.
The UK is set to suffer theĀ slowest growthĀ of all rich nations next year at just 0.4%.
Oil prices ticked up on the prospect of the USĀ replenishing its strategic reserves, after falling to 7-week lows.
43% of Americans say their financial situation is improving, up from 37% the past two years.
š Global Perspectives
š³šŖĀ šŗšø Russian troopsĀ enteredĀ a base housing the US military in Niger, according to a US official.
šŗšøĀ šØš³Ā š·šŗĀ A senior US official urgedĀ China and Russia to agree that only humans, not AI, will decide on deploying nuclear weapons.
šØš³ The death toll from aĀ collapsed highwayĀ in southeastern China climbed to 48 as searchers dug for a second day.
š¦šŖ Heavy rainsĀ returnedĀ to the UAE just two weeks after record-setting rainfall triggered damaging floods.
š®š· Iran charged "several journalists and activists" following a BBC report alleging that security forces killed a teenage protester.
š Crypto
US lawmakersĀ urged the SECĀ to approve Bitcoin options trading.
BlackRock's Bitcoin ETF saw itsĀ first outflowsĀ as US spot BTC ETFs shrank 20% since March.
Arkansas governor announced plans toĀ sign two billsĀ regulating crypto mining.
Hong Kong's new Bitcoin ETFs sawĀ $217 million in inflows, not enough to offset $298 million in outflows from US ETFs.
š§ Errata
A Florida man was arrested for throwing fried chicken at his sister.
TheĀ highest observatoryĀ in the world just opened in Chile after 26 years of planning and construction.
More and more Americans think China is their enemy.
Europeās close flyby of the sun revealed a beautifully hellish environment.
šŗ What to Watch Today
Thatās all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
Join the conversation