Tuesday, May 11, 2021 Markets are slumbering again in today’s pre-market, after seeing the wind come out of the sales Monday afternoon, about an hour before the closing bell. The indexes are still driving the bus, but looks currently a little confused about its destination, short-term. We had been transitioning from growth to cyclicals and back again, but right now it doesn’t look like a lot of new money is being put to work: the Dow is down 300 points, the Nasdaq right behind, and the S&P 500 is down 60. The Great Reopening was supposed to be a no-brainer, and to a good extent it is — even last week’s “disappointing” jobs numbers showed more than a quarter of a million new positions and 6.1% unemployment aren’t as robust as expected, perhaps, but are firmly pointed in the right direction. That we’re taking longer to get there is not so much a problem for investors this morning as an absence of interest in getting in further. Specialty retailer Hanesbrands (easily beat expectations on its bottom line: 39 cents per share versus 25 cents expected (and far better than the 5 cents per share reported a year ago). Revenues of $1.51 billion (advanced past the $1.32 billion in the year-ago quarter) topped estimates by 0.67%. It’s the fourth-straight earning beat for the Zacks Rank #3 (Hold)-rated underwear maker. But the stock is taking a bath on the news, -12% on a down morning overall. HBI Quick Quote HBI - Free Report) For more on HBI’s earnings, click here. Palantir’s ( third earnings report in its short public existence met on earnings — $0.04 per share — while beating decisively on the top-line: $341 million versus $343 million expected. The cyber-analytics (including U.S. intel and Defense) firm has raised sales guidance for Q2, and expects yearly revenue growth +30% through 2025. Shares are down 7%, however, getting its share of morning carnage. The company is down 21% year to date but +94% year over year. PLTR Quick Quote PLTR - Free Report) After today’s close, we look forward to fiscal Q4 numbers for Electronic Arts (. Also a Zacks Rank #3, expectations are for $1.04 per share on earnings, and $1.40 billion in quarterly sales. The company is carrying a string of six consecutive earnings beats, but that may not mean much if the market stays in this ditch today. EA Quick Quote EA - Free Report) Questions or comments about this article and/or its author? Click here>> Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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