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🤘 A LYV Wire
Plus, what does gold's weird week mean for investors?
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Happy Friday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.
🟨 | US stocks were mixed again to end a turbulent week. The Dow and S&P 500 continued to dip, but the Nasdaq touched a record high as Tesla continued to tick up from the prior day’s remarkable surge.
📈 | One Notable Gainer: Coach- and Kate Spade-owner Tapestry secured the bag, with shares soaring more than 13% after a US judge blocked its pending merger with Michael Kors-parent Capri.
📉 | One Notable Decliner: The floor fell out from under Mohawk Industries. Its stock slid nearly 14% after a major capital market firm dumped some of its holdings in the flooring company.
🤘 | Tomorrow's Trade: The Show Must Go On. Keep scrolling for more, or read on our site.
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S&P 500 Heatmap. Credit: Finviz
All Stock Heatmap. Credit: Finviz
Global ADR snapshot. Credit: Finviz
MARKET MOVERS
DECK (+10.6 %) Hoka Shoes Sales Surge, Driving Deckers Outdoor's Earnings and Stock Higher (YF)
DLR (+9.5%) Digital Realty posts growth in FFO on data center services demand (Reuters)
COF (+5.2%) Capital One acknowledges Discover merger won't close this year (American Banker)
HCA (-8.8%) HCA Healthcare stock drops on Q3 miss (SeekingAlpha)
RMD (+7.1%) ResMed Tops Estimates in Fiscal 2025 Q1 (The Motley Fool)
OVERHEARD ON THE STREET
CNBC: The Washington Post’s owner, Amazon CEO Jeff Bezos, blocked the paper from endorsing Kamala Harris for president.
MarketWatch: Elon Musk's wealth surged by $38 billion due to Tesla's record two-day stock gain.
WSJ: Boeing is considering selling its space business to maintain profitability and competitiveness in a challenging market.
Reuters: The World Bank unveiled a new Gender Strategy which aims to boost economic opportunities for women by 2030.
ABC: Security tech firm Evolv warned shareholders recent financial statements are unreliable as it investigates employee misconduct related to sales.
TOMORROW’S TRADE IDEA, TODAY
The Show Must Go On
A-Live and Well
Live Nation (LYV) has already had a good year. The stock has gained nearly 27% YTD, and more than 30% over the past 6 months.
But JPMorgan (JPM) believes Live Nation’s performance is just getting started.
The firm recently reiterated its Overweight rating on the stock and lifted its price target from $118 to $137 per share. That’s good for nearly 18% upside from this week’s close.
A New Venue
Live Nation, renowned for its ticketing and live entertainment operations, has landed on a new avenue for growth: venues.
JPM analyst David Karnovsky pointed to the fact that around 75% of the company’s 2024 capital expenditures, which totaled $650 million, is allocated toward venues.
According to Karnovsky, these extensive investments will lift the overall fan experience on both ends of the cost spectrum. He also believes it will entice artists to go on tour, particularly overseas.
Monetization Mindset
Karnovsky views Live Nation as a global leader in live entertainment, ticketing, and talent management services.
He expects the company to generate multi-year free cash flow growth on the back of a strong management team focused on monetizing artist, tour, and now venue content.
Karnovsky’s not alone. Of the 22 analysts covering the stock, 18 give it either a Buy or Strong Buy rating, according to LSEG.
Are you bullish or bearish on Live Nation Entertainment (LYV) over the next 12 months? |
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ON OUR RADAR
MarketWatch: Gold is breaking from its usual patterns. Here’s what that means for investors.
NYT: McDonald’s E. Coli outbreak has expanded to 75 cases, and other fast-food chains have halted onion sales in response.
ABC: A nonprofit is using AI to send cash relief payments to hurricane-impacted households in North Carolina and Florida.
WSJ: US natural gas futures rose for the third consecutive session, finishing the week with a solid 13% gain, amid ongoing tensions in the Middle East.
Bloomberg: Cryptocurrencies fell following a US investigation into Tether, the stablecoin central to much of digital asset trading.
THURSDAY’S POLL RESULTS
🟩🟩🟩🟩🟩🟩 🐂 Bullish
🟨🟨🟨⬜️⬜️⬜️ 🐻 Bearish
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