Stocks

Google Ad

JPMorgan Chase, America's largest bank reported better than expected first quarter earnings Wednesday before the open. Revenue of $33.12 billion exceeded expected $30.52 billion driven by the $JPM’s trading $1.8 billion more revenue than analysts had expected. Goldman Sachs,  and Wells Fargo also report Wednesday.

Danaher is a name not often linked to the Coronavirus vaccine industry. In fact DHR has been entrenched in the development of COVID-19 vaccines and therapeutics through its $21.4 bln acquisition of Cytiva last March and raised its Q1 guidance to the high end. 

Earnings kicks off with reports from the major banks names including Wells Fargo (WFC), Goldman Sachs (GS) and JPMorgan Chase & Co (JPM) on Wednesday. On Thursday Bank of America (BAC), BlackRock (BLK), and Citigroup (C) report. Morgan Stanley (MS) and PNC Group (PNC) report Friday.

Memory chip maker Micron reported stronger earnings after the close Wednesday. Both business lines, DRAM and NAND memory chips exceeded forecasts. $AMD has been trying to recover from near their six months lows with the technology selloff.

ARK Invest launched it's first ETF in two years on Tuesday. ARK Space Exploration, which will trade under $ARKX top two holdings are Trimble and another Ark fund called the 3D Printing ETF $PRNT with weights of 8.6% and 6%. Other large stakes include Kratos Defense and Security Solutions $KTOS, L3Harris Technologies $LHC and JD.com $JD.

KB Homes reported better than expected Q1 earnings after the market Tuesday on lower than expected revenue from the weatherand power issues in Texas. The stock was higher with other homebuilders after robust order numbers. $KBH had the company's highest backlog level in the last 15 years.

Pharmaceutical company KemPharm shares have risen after $KMPH received approval for the AZSTARYS NDA an alternative for Adderall and other ADHD treatments. In there fourth quarter earnings they announced a restructured its balance sheet, extinguished its debt and re-listed on The Nasdaq Capital Market. The stock is also heavily shorted.

Video game developer Roblox launches on March 10 through a direct listing after raising $520 million from investors in a private funding round. The deal gives Roblox a $29.5 billion valuation at $45. The shares will trade under the ticker 'RBLX' on the New York Stock Exchange.

Cloud data platform Snowflake, who launched it's IPO last September reported Fiscal 4th quarter earnings Wednesday. $SNOW sold off after it's full-year guidance did not exceed analysts’ estimates, a miss in a hugely overvalued technology sector. SNOW also announced an end to its dual-share class structure.

U.S. electric vehicle maker Xos Trucks Inc is in talks to go public via a SPAC Reuters reported late Monday, citing sources. Xos is working a deal to merge with blank-check acquisition company NextGen Acquisition Corp $NGAC which could value the EV start up near $2 billion. Its customers include package delivery United Parcel Service Inc and cash-handling firm Loomis.

Google ads