Happy Thursday Zingers! Yesterday investors chose to do what a lot of us did right before the Super Bowl and ‘bought the dip.’ The S&P 500 dipped by more than 1.3% Tuesday after a hot CPI report. Yesterday, it pretty much gained everything back.

Traders also bought the dip in $LYFT shares Tuesday after the stock jumped from $12 to $20. Then, the stock dropped nearly 25% because of a typo in the company’s earnings report. Lyft reported 500 BPS of EBITDA margin expansion instead of 50 BPS. The traders that came in after the typo-induced drop were rewarded. The stock went from $14 to around $16.50. I guess buying the dip pleased the crowd yet again!

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MARKET SNAPSHOT

Yesterday: Investors appeared to brush off inflation fears and started clicking “buy” again, with all major indices closing in the green.

On Our Radar: Tons of economic data is coming our way this morning, including initial jobless claims, U.S. retail sales, the Import Price Index, and more.

TOP STORY

Coinbase Stock Closed Up More Than 14% As Analysts Get Bullish Ahead Of Today’s Earnings Report

Briefly: Coinbase shares shot higher in Wednesday’s session amid bullish coverage from analysts ahead of the company’s report after market close.

So Basically: Analysts expect the leading American crypto company to beat revenue expectations for the fourth straight quarter.

So Then: Analysts see Coinbase reporting fourth-quarter revenue of $822.36 million, according to data from Benzinga Pro. The company reported $629.11 million in revenue in last year's fourth quarter.

So What: Bitcoin and most cryptocurrencies have been on a tear, with Bitcoin up nearly 25% in the last month. Most of Coinbase’s peers also traded higher yesterday.

Click here to keep reading.

PRESENTED BY ELICIO THERAPEUTICS

How Elicio Therapeutics Is Taking A Different Approach To Treating Cancers Like Colon Cancer, Expected To Be The Leading Killer Cancer By 2030

Elicio Therapeutics is at the forefront of cancer care with its AMP platform, transforming the landscape with cutting-edge immunotherapies. These innovations are designed not just to treat, but to strategically target and dismantle the very mutations that propel pancreatic and colon cancers.

The company's leading candidate, ELI-002, embodies this approach, aiming to deliver accessible, non-customized vaccines that promise a new dawn for cancer treatment efficacy and availability.

Though further studies are needed to confirm its efficacy, the shot could improve survival for colon cancer, expected to be the number one cause of cancer deaths for people between 20-49 years of age by 2030, and pancreatic cancer, which has just a 12% survival rate after five years.

There’s more, click here to keep reading.

FIVE ZINGERS

Cisco’s stock dropped around 5% after the company announced a (coincidentally) 5% layoff of its workforce in its earnings report.

Upstart’s stock dropped nearly 20% following a disappointing report and bearish coverage from analysts.

Kraft Heinz Co, a Warren Buffett darling, warned of potential consumer weakness, sending the stock down about 6%.

Uber’s stock rode higher yesterday, closing up around 15% after the company announced a $7 billion stock buyback.

Fastly shares dropped by 20% after the close following a disappointing earnings report and weak EPS numbers.  

ONE FOR THE ROAD

Steven Madden To Gain From Brand Value Despite Shifting Trends, Analyst Says

Briefly: Piper Sandler analyst Abbie Zvejnieks initiated coverage on Steven Madden, Ltd. with a Neutral rating and a price target of $45.

So Basically: Per the analyst, strong brand recognition and a recent acquisition of Almost Famous should boost the growth of the apparel and accessories business.

So Then: Rebounding wholesale business and changing footwear trends will likely power low-teens earnings growth for Steven Madden in 2024.

What’s Next? Zvejnieks writes that trend shifts, including ballet flats, kitten heels, and pointy toe, will be a momentum catalyst.

Click here to keep reading.

PRESENTED BY ELICIO THERAPEUTICS

Elicio Therapeutics (NASDAQ: ELTX) Reports Promising Progress In Cancer Vaccine Clinical Trials, Placing An Emphasis On The Lymphatic System

An estimated 609,820 people will die of cancer in the United States this year. Promising results from a 12-year-old clinical-stage biotechnology company have experts optimistic about the future of treating this deadly disease. 

With its proprietary Amphiphile or “AMP” platform, Elicio Therapeutics Inc. has developed multiple cancer vaccine candidates that concentrate an array of different immunogens in the lymph nodes. 

ELI-002 is Elicio’s lead clinical program for Kirsten rat sarcoma (KRAS) driven cancers caused by a mutation of the KRAS gene.

Click here to learn more and see what’s in store for Elicio Therapeutics in 2024.