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🛩 United We Ball
Tesla announces new layoffs set to impact about 10% of its staff. Plus, retail sales come in hot.
Charla Hojnacki
April 16, 2024
Happy Tuesday Zingernation! Selling begets selling, which helps explain why the recent downturn on Friday led to another big red day yesterday. But that selling only begets so much selling, until stock prices get so low that it begets buying. Seems simple, right?
That’s why I like to just keep adding to my ETF / SPY positions every two weeks and like my Italian uncle from Brooklyn, Tino, would say “fuhgeddabouit”. But, Tino’s strategy is actually pretty solid. In fact, a Charles Schwab study found that a buy and hold, passive system never once netted a negative return over a 20-year period. Maybe Tino knows a thing or two besides the best spot to get a slice of pizza or bagel after all.
Plus, trying to play gold’s new all-time highs? Check out today’s partner, Pasofino Gold.
And, crypto is so back. Billions of dollars are flowing into the new Bitcoin ETFs, driving prices to near all-time highs. Join thousands of engaged readers of Future Finance - our FREE digital assets newsletter.
MARKET SNAPSHOT
Last Week: What is this a Game of Thrones episode? Everything got slaughtered yesterday, with the $SPY and $QQQ dropping more than 1% as investors worry about escalation in the Middle East, as well as hot retail sales that could mean more inflation is on the way.
On Our Radar: Bank of America, United Healthcare, Johnson and Johnson and others will report before the open. Then, after the close, we will hear from companies like United Airlines, Interactive Brokers and more.
TOP STORY
Briefly: Leading airline company United Airlines Holdings Inc will report first-quarter financial results after market close Tuesday, April 16.
The Preview: Here's a look at the earnings estimates and key items to watch.
Earnings Estimates: Analysts expect United Airlines to report first-quarter revenue of $12.45 billion, according to data from Benzinga Pro.
So: The company reported revenue of $11.429 billion in last year's first quarter. United Airlines has beaten Street estimates for revenue in six straight quarters.
Basically: Analysts expect the airline company to report a loss of 56 cents per share for the first quarter, compared to a loss of 63 cents per share in the year-ago period. The company has beaten earnings per share estimates from analysts in six straight quarters.
Click here for the full preview.
PRESENTED BY MASTERWORKS
It’s one of the oldest markets in the world, but until recently, the average person would never dream of investing in it. Until a Harvard data scientist and his team cracked the code with a system to identify “excess alpha.”
The best part? Everyday people are already benefiting.
The company that makes it all possible is called Masterworks, whose unique investment platform enables savvy investors to invest in blue-chip art for a fraction of the cost. Their proprietary database of art market returns provides an unrivaled quantitative edge in analyzing investment opportunities.
So far, it's been right on the money. Every one of their 16 exits has been profitable, with recent exits delivering +17.8%, +21.5%, and +35.0% net annualized returns.
Intrigued? Ring The Bell readers can skip the waitlist with this exclusive referral link.
FIVE ZINGERS
Unhappy Meal: A new $20 minimum wage for fast food restaurants in California has some franchisees pretty fired up. And not in a good way.
Surprise, Surprise? Here’s why some analysts are expecting the unexpected in Bank of America’s earnings report this morning.
Pump It Up: Gas prices could surge higher amid escalation in the war in the Middle East. Here’s what you need to know.
Pay The Toll: It’s not just American citizens that get hit on tax day. Here’s why stocks tend to struggle around this time of the year.
The Pelosi Trade: Pelosi and other members of congress are loading up on defense stocks amid rising geopolitical risks. Here are the details.
ONE FOR THE ROAD
What Happened: The Anaheim Police Department is launching a pilot program that will see six Tesla Inc Model Y units put to the test as patrol cars starting this Monday.
Basically: Amid a critical shortage of patrol vehicles, exacerbated by supply chain disruptions and the pressing need to replace outdated cars, the department has swiftly moved to incorporate Teslas into its fleet, as shared by Teslarati.
So: According to Police Chief Rick Armendariz, the decision to adopt the Model Y was driven by the immediate availability of the vehicles and their potential to bolster public safety in the city by addressing the department's vehicle shortfall.
Why It Matters: The Tesla Model Y patrol cars were equipped for service through a collaboration with Unplugged Performance’s UP.FIT, a company specializing in adapting government and fleet vehicles. While the financial details of the acquisition were not disclosed, the department highlighted the Model Y's compelling attributes, such as rapid acceleration, substantial storage space, and low maintenance costs, as key factors in their selection.
PRESENTED BY MASTERWORKS
It’s one of the oldest markets in the world, but until recently, the average person would never dream of investing in it. Until a Harvard data scientist and his team cracked the code with a system to identify “excess alpha.”
The best part? Everyday people are already benefiting.
The company that makes it all possible is called Masterworks, whose unique investment platform enables savvy investors to invest in blue-chip art for a fraction of the cost. Their proprietary database of art market returns provides an unrivaled quantitative edge in analyzing investment opportunities.
So far, it's been right on the money. Every one of their 16 exits has been profitable, with recent exits delivering +17.8%, +21.5%, and +35.0% net annualized returns.
Intrigued? Ring The Bell readers can skip the waitlist with this exclusive referral link.