🍗 More Bank Failures Coming?
Morning Tendies
March 24, 2023
Hopefully everyone had a great week,
Welcome to Morning Tendies, the only newsletter that gives you the same feeling as seeing your team advance in March Madness
Enough of the chit-chat, let’s get into it:
Market Overview 📈
Earnings 💰
Key Headlines 🔑
Get Prepared for the Week Ahead 🔮
Tendie Memes 🍗
Market Overview 📈
Main Takeaways:
UBS agreed to buy Credit Suisse for $3.2 billion, the Federal Reserve hikes interest rates 0.25%, Block’s stock dropped nearly 20% after a short-seller report was released by Hindenburg, and more layoffs.
Heat Map of the S&P 500:
How the largest stocks performed:
Best performing large cap stocks:
Worst performing large cap stocks:
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Earnings 💰
Diver Deeper:
Want our In-Depth analysis on Nike’s Earnings? Click Below👇
🚨Nike $NKE Releases Earnings🚨
Let's Take an In-Depth Look at the Sneaker Giant's Earnings...
(A Thread🧵👇)
(1/6)
— Morning Tendies (@MorningTendies)
Mar 22, 2023
Want our In-Depth analysis on Gamestop’s Earnings? Click Below 👇
🚨Gamestop $GME Releases Earnings🚨
Let's Take an In-Depth Look at their Earnings...
(A Thread🧵👇)
(1/5)
— Morning Tendies (@MorningTendies)
Mar 21, 2023
Key Headlines 🔑
Monday, March 20th 2023:
UBS (UBS) reaches agreement to buy Credit Suisse (CS) - Fox Business
First Republic (FRC) shares crash more than 46% after downgraded credit rating - The Guardian
BioNTech (BNTX) inks deal with OncoC4 to develop cancer treatments - MarketWatch
Amazon (AMZN) to lay off 9,000 more workers - CNBC
Exelixis (EXEL) announces $550 million share repurchase program - Yahoo Finance
Bed Bath & Beyond (BBBY) falls to 30-year low on reverse stock split plan - Fox Business
Tuesday, March 21st 2023:
Footlocker (FL) closing 400 shopping mall locations to prioritize better earning stores - Fox Business
Takeaway firm to cut 1,900 jobs in UK - BBC
Yellen says U.S. will take more action to protect smaller banks if needed - Fox Business
Tesla (TSLA) rises on Moody’s credit rating upgrade - Yahoo Finance
U.S. existing-home sales rise for the first time in 13 months, surging 14.5% in February - MarketWatch
Wednesday, March 22nd 2023:
Papa John’s (PZZA) CFO Ann Gugino is stepping down with immediate effect - MarketWatch
Carvana (CVNA) plans $1 billion debt exchange in restructuring bid - Bloomberg
PacWest (PACW) decideds to not rise additional capital after getting private backer and federal loans - MarketWatch
NVIDIA (NVDA) Brings Generative AI to World’s Enterprises With Cloud Services for Creating Large Language and Visual Models - NvidiaNewsroom
Federal Reserve raises interest rates 0.25% to highest since 2007 amid bank crisis. The rate hike brings the Fed’s policy rate, the federal funds rate, to a new range of 4.75%-5%
SEC warns Coinbase (COIN) it’s pursuing enforcement action over securities violations - CoinDesk
Thursday, March 23rd 2023:
Bank of England hikes interest rates by 25 basis points after inflation surprises - CNBC
U.S. weekly jobless claims edge lower to 192,000 - NYPost
Block (SQ) stock drops on Hindenburg Short Report - Bloomberg
Ford (F) expects EV business unit to lose $3B this year, hit profitability in late 2026 - TechCrunch
ABB (ABB) sets new $1B stock repurchase program, after completing last year’s $2B program - MarketWatch
Snapchat (SNAP) launches enterprise division to help businesses build AR features - Reuters
Accenture (ACN) to cut 19,000 jobs globally - Fox Business
Indeed to lay off 15% of its staff - Fox Business
Friday, March 24th 2023:
Deutsche Bank (DB) slides after sudden spike in the cost of insuring against is default - CNBC
GSK (GSK) falls amid California court ruling on Zantac, company disagrees - Seeking Alpha
Nelnet (NNI) to cut 550 jobs - MarketWatch
2-Year Treasury Yield heads toward its biggest three-week decline since November 1987 - MarketWatch
Bed Bath & Beyond (BBBY) to cut 1,300 more jobs in New Jersey - Yahoo Finance
Get Prepared for the Week Ahead 🔮
Next Week’s Economic Calendar:
Next Week’s Earnings Calendar:
What we’ll be keeping an eye on:
Monday: Carnival Corp, BioNTech, PVH
Tuesday: Walgreens, Lululemon, Micron, TD Synnex
Thursday: Blackberry
Tendie Memes 🍗
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research