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- Allbirds | March 14th, 2024
Allbirds | March 14th, 2024
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MOST ANTICIPATED EARNINGS TODAY
MARKETS AT A GLANCE
| Index/Asset | Day | Month | Year |
|---|---|---|---|
| Dow | ▲0.10% | ▲0.89% | ▲22.93% |
| S&P | ▼0.19% | ▲3.97% | ▲33.24% |
| Nasdaq | ▼0.54% | ▲3.71% | ▲43.28% |
| Bitcoin | ▲2.32% | ▲47.08% | ▲200.14% |
| 10-Year | ▲1.24% | ▲0.96% | ▲18.89% |
[ good morning ]
Here’s everything you need to know today
With inflation confidence holding up the rally until next week--the Street is just really happy to see some winners in retail. Dollar General came out with basically the opposite earnings story Dollar Tree posted yesterday--showing strength despite how difficult the economy is. Dick's Sporting Goods also showed that specialty retail still has a lot of bit despite all the pressure facing consumers.
Meanwhile, the last gasps of the 2021 SPAC bubble are crashing as players like Fisker consider bankruptcy.
This market really wants to be optimistic, but can the economy keep pumping out decent enough data? Let's explore today's top stories and see if we can find out.
 | RETAIL |
BREAKING NEWS
Dicks Sporting Goods is soaring in early trading after the retailer posted a barn-burner of an earnings call. Retail is so back.
WHAT HAPPENED
The Street has counted Dick’s out in the last few quarters—and investors are scrambling after the sports store beat every conceivable metric. Dick’s generated a massive $3.85 EPS from $3.88 billion in revenue. Sales jumped 8% thanks to broad-ranging improvements.
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 | FINANCE |
BREAKING NEWS
Robinhood stock is surging in early trading thanks to a huge jump in trading volume. Traders moved $80.9 billion on the platform in the last month—a 36% jump from January numbers.
WHAT HAPPENED
Retail investors are pouring back into the market. The bull rally is finally trickling down to individual investors as more people buy into the hype. Robinhood customers deposited a net $3.6 billion into Robinhood in February alone—jumping 46% in a single year. Robinhood now has $118 billion in Assets under Custody, meaning the platform added over $15 billion in assets in a single month.
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 | ELECTRIC VEHICLES |
BREAKING NEWS
EV startup Fisker watched their stock drop by over a third this morning after the Wall Street Journal printed a report signaling that a bankruptcy filing was imminent.
WHAT HAPPENED
It has been a public and deeply messy end for the once-promising EV player. Fisker has suffered through production delays, weak manufacturing, and a whole host of other issues. Despite this, the EV company seemed like they had a fighting chance when they finally started delivering vehicles last June.
Then, the popular tech reviewer MKBHD put out a review of their latest version of the Fisker Ocean—calling it ‘the worst car I’ve ever reviewed’ (yikes). Long story short, Fisker also botched their response to this (justifiably) awful review—sparking a maelstrom of public backlash and ridicule. Fisker’s shaky reputation basically got torched in the last month.
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What You Missed Yesterday
Trump's EV Critique Sparks Industry Reflection Amidst Transition Hurdles EU Sets Global Precedent with First Comprehensive AI Regulations House Targets TikTok, Setting Stage for Senate Showdown | Intel Loses $2.5 Billion Pentagon Grant Dollar Tree Burns $2 Billion and Closes Stores Where is all the Inflation? |
Extra Moby Snacks
Dollar General managed to salve the Street’s fears surrounding retail with a strong earnings and revenue beat. After the stock got rocked in the fallout from Dollar Tree’s crash—Dollar General rose over 4% in early trading.
U.S. Steel gave back a lot of their recent gains thanks to fears that Biden may block a proposed acquisition by Nippon Steel. The stock dropped 2% in early trading.
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