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October 29, 2021 Facebook goes through it an identity crisisGood morning traders, Welcome back to The Daily Setup. Markets were up yesterday, with the Nasdaq and S&P 500 closing at record highs. Here’s what’s on the docket today:
So let’s send a few emails and cut out early for the weekend. Jeff
Chart of the Day, Shell & MetaverseBIGGEST MOVERIceberg, right ahead!
RBC Capital Markets, Mizuho Securities, and Macquarie Research, to name a few, maintain a buy to outperform rating on the company’s stock.TWLO put in a low for 2021 of $275.60 on May 11th. Shares traded as low as $278 Thursday morning. It is an interesting situation and something to monitor to see if buyers decide to build support in this area. Shell of a company (Shell on the Senate floor.) Oil giant Shell posted disappointing earnings on Thursday, with $4.1B in revenue compared to last quarter’s $5.5B. If you think that’s bad, take a look at their Q3 2020. Shares dropped roughly 3% on the news, and closed yesterday at $47.44, down 5% from Wednesday.
Loeb wants Shell to split so that its natural gas and renewable initiatives don’t go down with what he thinks is the oil company’s sinking ship. If there’s a break, gas and renewables could escape some of the PR sh*tshow Shell’s may be facing after being questioned by Congress about potentially misleading the public for that their products impacted climate change for nearly 50 years… allegedly of course. Aside from that, Shell’s probably going to keep recovering now that rona’s under control.
-a live look at Zuck yesterday
Olin a day’s workRumor Has ItOlin Chemical, a manufacturer of specialty chemicals for resins, glues, and ammunition, is on a roll. Q3 EPS came in at $2.38, 14% better than expectations– making this the third consecutive quarter they’ve outperformed estimates. Shares closed at $56.65 Thursday, up 2.74% from Wednesday’s close.
Amazon, Ford & GDP?Other NewsAndy, Please Report to Jeff’s Office Amazon (AMZN) reported (bottled) piss-poor earnings on Thursday, and the Andy Jassey experience is off to a bit of a disappointing start. EPS came in at $6.12 vs. expectations of $8.92, while revenue also fell short of estimates, at $110.81B vs. $111.6B. The company also guided downward for 4Q 2021, sending shares down almost 4% in after hours trading. Let’s just hope for Andy’s sake that Jeffrey Starship doesn’t get too mad and launch him into orbit aboard one of his phallic rocket ships… or worse, cancel his Prime Video and make him use Peacock.
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