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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 fell Friday, notching a losing week for all three major indexes as the post-election exhilaration gave way to trepidation and profit-taking.
📈 | One Notable Gainer: Shares of Peter Thiel’s Palantir Technologies rose 11% to a fresh record on news it will leave the NYSE for the Nasdaq exchange.
📉 | One Notable Decliner: Applied Materials’ stock shed more than 9% after the company’s sluggish sales forecast cast doubt on chip demand.
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S&P 500 Heatmap. Credit: Finviz
All Stock Heatmap. Credit: Finviz
Global ADR snapshot. Credit: Finviz
MARKET MOVERS
Moderna, Disney, Ulta Beauty
MRNA (-7.3%) Moderna, Novovax stocks slide after Trump nominates Robert F. Kennedy Jr. to be top health official (YF)
DIS (+5.5%) Disney earnings offer hope that streaming can successfully supplant linear TV (CNBC)
ULTA (-4.6%) Ulta Beauty Stock Drops. Berkshire Soured on the Shares Quickly. (Barron’s)
ASTS (-9.6%) SpaceX Rival Secures Key Contract, But Posts Big Earnings Miss (Investors.com)
ARM (-5.6%) Arm Holdings Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of (Simply Wall St)
OVERHEARD ON THE STREET
Reuters: US retail sales beat expectations last month, driven by higher purchases of vehicles and electronics.
AP: General Motors laid off 1,000 employees to cut costs and realign priorities in response to shifting market conditions.
CNBC: Elon Musk’s xAI will raise up to $6B at a $50B valuation to buy 100,000 NVIDIA chips.
WSJ: Ben & Jerry's is suing Unilever, claiming its parent company censored its statements supporting Palestinian rights.
CNN: A federal judge ruled that Kraft Heinz must face a nationwide class action over claims that its Kraft mac and cheese contains no artificial preservatives.
TOMORROW’S TRADE IDEA, TODAY
Fast Fashion, Quick Bucks
E-Comm Competition
Amazon (AMZN) just rolled out a new discount storefront, Haul. Bank of America (BAC) likes what it saw.
The firm believes this move could better position Amazon to compete with Chinese discount e-commerce giants Temu (PPD) and Shein.
BofA analyst Justin Post argues Amazon’s competitive pricing and powerful reach will allow it to establish itself as a solid alternative to its competition quickly.
Tariffs: Trouble or Tailwind?
Haul will exclusively feature items under $20, while allowing Amazon’s standard free shipping on orders over $25. As inflation-weary consumers become increasingly budget-conscious when shopping, these low prices could go a long way toward keeping them around.
Meanwhile, the threat of tariffs under a second Trump administration could pose a threat to retailers of cheap, imported goods.
Of course, Amazon stocks plenty of China-made products. But Post believes that Haul’s use of third-party sellers will help to mitigate the risk, while China’s Temu and Shein stand to take a much bigger hit.
Strong Consensus
Post cited Bloomberg data that shows Temu and Shein created a 1% growth headwind for Amazon in the last year. For a company with a more than $2 trillion market cap, clawing back just a fraction of that could be a major boon for its business.
Amazon is already off to a strong start. The stock is up more than 33% YTD. But the consensus on Wall Street is that it has more room to run.
Post, along with the vast majority of analysts covering the stock, rates Amazon a Buy, and projects the stock price to jump 13.5% to $230 per share.
Are you bullish or bearish on Amazon (AMZN) over the next 12 months? |
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ON OUR RADAR
WSJ: Despite the public perception, President-elect Donald Trump's softer regulations may not benefit Bitcoin.
Barron’s: One expert warns Trump’s “Trade War” could usher in a new era of protectionism for the US and China.
AP: Gold prices, which surged earlier this year, have fallen since Trump's victory.
CNN: The European Union fined Meta $840M, alleging abusive practices that benefited Facebook Marketplace.
CNBC: Trump plan to “end all taxes” on overtime pay would benefit millions of Americans — but can it actually be implemented?
THURSDAY’S POLL RESULTS
Are you bullish or bearish on Philip Morris International (PMI) over the next 12 months?
🟩🟩🟩🟩🟩🟩 🐂 Bullish
🟨🟨🟨🟨⬜️⬜️ 🐻 Bearish
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