Trading/Investing Thread - Page 104

On April 27 2022 02:34 {CC}StealthBlue wrote:
Isn't GE supposed to be the "bellwether" of the US economy?

https://www.youtube.com/watch?v=kCE7eVXfRwc

edit: Now down by over 11%....

Robinhood Markets Inc. was supposed to upend the way people trade. Instead, the way people trade is starting to upend Robinhood.

Less than a year into its run as a public company, Robinhood is dismissing 9% of its 3,800-person workforce. The Silicon Valley startup that once threatened to challenge Wall Street said that after a period of “hyper growth” and robust hiring in 2020 and early 2021, it was left with too much overlap.

“This rapid headcount growth has led to some duplicate roles and job functions, and more layers and complexity than are optimal,” Chief Executive Officer Vlad Tenev said Tuesday in a statement.

One of last year’s hottest initial public offerings has all but collapsed since. The stock, which plunged 74% since its debut, slid an additional 4.5% in extended trading at 5:48 p.m. in New York after the job cuts were announced.

The online brokerage exploded in popularity during the pandemic, as new investors used its app to trade through wild market swings, including run-ups in meme stocks and cryptocurrencies. But trading activity, which makes up the bulk of the firm’s revenue, started to wane, and none of its recent offerings -- including crypto wallets and a debit card -- have helped stem the decline.

Robinhood, which is scheduled to report first-quarter results after U.S. markets close on Thursday, missed Wall Street’s revenue estimates for the previous two periods and has racked up more than $2 billion of losses since the IPO.

On April 27 2022 17:12 Oukka wrote:
Is the Tesla swing over the last few days just down to the Twitter-saga or was there something in the earnings call that also contributed?

The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand.

While the surprise contraction adds to political headaches for President Joe Biden, it’s unlikely to dissuade the Federal Reserve from hiking interest rates aggressively to combat inflation.

Gross domestic product fell at a 1.4% annualized rate in the first quarter following a 6.9% pace at the end of last year, the Commerce Department’s preliminary estimate showed Thursday. The median projection in a Bloomberg survey of economists called for a 1% increase.

The report is more an illustration of how GDP calculations tend to be volatile from quarter to quarter, not necessarily indicating weakness in the economy or a sign of recession. The contraction was due to a jump in imports and a drop in exports, coupled with a slower buildup of businesses’ stockpiles. On a year-over-year basis, the economy grew 3.6%.

Together, trade and inventories subtracted about 4 percentage points from headline growth. Government spending shrank, also weighing on GDP. But real final sales to domestic purchasers, a measure of underlying demand that strips out the trade and inventories components, accelerated to a 2.6% annualized rate.

Against a backdrop of quicker inflation and solid spending, Fed monetary policy is still geared for a half-point rate hike next week. Nonetheless, officials need to balance tighter policy with risks to demand.

The economy faces other potential headwinds that include knock-on effects from Russia’s war in Ukraine. Growth prospects in Europe are deteriorating, some raw materials are in short supply and the Chinese government’s severe pandemic-related lockdown measures are leaving supply chains in disarray.

On April 28 2022 23:34 {CC}StealthBlue wrote:
So... a recession?



Source

On April 29 2022 05:22 {CC}StealthBlue wrote:
What would you call it? Especially with inflation over 8%


Meanwhile at Robinhood...

https://twitter.com/CNBCOvertime/status/1519773219280105472

Tesla Inc. needs more time to file a regular disclosure ahead of its annual shareholders’ meeting, pushing back a potential detailing of plans for issuing new shares and a possible stock split.

Elon Musk’s electric-car-market leader said on Monday in a securities filing that it wouldn’t be able to file a proxy statement until sometime later this year, without providing a specific timeline. Tesla faced an April 30 deadline for filing its shareholder proxy after the end of its fiscal year on Dec. 31.

“We currently expect that our definitive proxy statement for the 2022 annual meeting of stockholders will be filed later than the 120th day after the end of the last fiscal year,” it said.

Investors are awaiting details on an anticipated request for a share-issuance vote the Austin, Texas, based company announced in a March 28 tweet. Tesla said new shares would “enable a stock split,” but didn’t provide details.

On May 03 2022 08:18 BlackJack wrote:
Series I Bonds up to 9.62%. Can only buy up to $10,000 per calendar year. Apparently can get another $5,000 if you use your federal tax return, something I wish I knew a month ago.

AMD reported first-quarter earnings after the bell on Tuesday, beating analyst estimates for earnings and revenue, sending the stock up over 3% in extended trading.

Here’s how the chipmaker did versus Refinitiv consensus estimates in the quarter ending March:

• EPS: $1.13, adjusted, versus $0.91 expected, up 117% year-over-year
  
• Revenue: $5.89 billion, versus $5.52 billion expected, up 71% year-over-year
  AMD said it expected $6.5 billion in sales in the current quarter, ahead of analyst expectations of $6.38 billion.
  

AMD’s results on Tuesday suggest that the chipmaker is still growing fiercely, with 71% sales growth in the first quarter, and every one of its individual lines of business growing by double digits during the quarter.

On May 03 2022 08:59 KwarK wrote:

You can abuse the gift loophole to buy more. Bought 25k but I’m probably going to up that substantially.

On May 04 2022 17:47 BlackJack wrote:


Can you elaborate on this? I googled this and according to an article on seekingalpha you can use the gift option to lock in the interest rate while it is high and deliver when it goes down but you can't actually exceed the $10k per SSN per year