Hey Gotraders,
Happy Monday! It’s a brand new… and exciting... week! There is a lot going on this week. To start off with, it’s a massively busy week in terms of earnings. Companies such as Tesla (TSLA), Netflix (NFLX), Snapchat (SNAP), Mattel (MAT), and several others are set to report earnings. Refer to the complete list below! 👇
Also, ProShares’ Bitcoin ETF which will give mainstream investors exposure to Bitcoin futures contracts (but not the spot market), is set to start trading this week on Tuesday! The ETF will trade under the ticker “BITO.” Fingers crossed that the regulators don’t raise any objections on Monday, which marks the end of a 75- day review period. 🤞
What happened to the price of Bitcoin? The price of Bitcoin traded above $60K on Friday as traders were optimistic about the SEC approving the ETF. Bitcoin jumped more than 8% to $62,307, its highest level since April.
Why is this important? An approval for a crypto ETF would mark a landmark victory for the crypto industry. All this while, the crypto industry has been regarded as a highly unregulated market.
So, what happens after the first ETF gets approved? Well, expect several more crypto ETFs to emerge in the coming weeks. Invesco, VanEck, and Valkyrie, have all made proposals for a crypto ETF in August, which are subject to a 75-day review by the SEC.
“This is a crawl, walk, run market. The smallest step the SEC can take right now is to launch a Bitcoin futures market because it is a regulated market” - Bitwise Asset Management Chief Investment Officer Matthew Hougan.
P.S. The Bitcoin ETF will be available on Gotrade soon. Do look out for it! 😉
📈 Tesla is set to report earnings this week 🤩
Tesla (TSLA) is set to report earnings this week. Analysts are expecting a “blowout quarter” from them. Brokerage firms recently raised their projections for the company before earnings. They are expected to report earnings of $1.54 per share and projected revenue of $13.66 billion.
CNBC’s Jim Cramer thinks that “Tesla is a good bet.”
Shares of Tesla closed at $843.03, up 3.02% for the day.
📈 Analysts are loving Netflix heading into earnings 💰
Wall Street analysts are going all out on Netflix (NFLX) and betting big on them following the massive success of Squid Game.
“We believe that the global popularity of South Korean sourced Squid Game is indicative of the unique value proposition that Netflix brings to content creators and consumers around the world” - Analyst Michael Morris from Guggenheim.
Analysts think that “Netflix has emerged from a period of pandemic-driven disruption as the clear global video content leader.” 👏
Shares of Netflix closed at $628.29, up 20.16% year-to-date.
Top movers & shakers 🎢
What else is making headline news 📰
Scott Stuber interview: How Netflix (NFLX) beat Hollywood at its own game.
Cramer’s week ahead: It’s time to be constructive as earnings season picks up.
Earnings are the big catalyst for stocks in the week ahead, as Tesla (TSLA) and Netflix (NFLX) report.
Goldman Sachs (GS) crushes analysts’ estimates on strong investment banking and trading results.
FDA panel unanimously recommends Johnson&Johnson (JNJ) Covid booster shots to adults who already got the first dose.
Jack Dorsey says Square (SQ) may build a bitcoin mining system, adding to Bitcoin price surge.
Inside Taiwan Semiconductor (TSM), the Taiwanese chipmaking giant that’s building a new plant in Phoenix.
GitLab (GTLB) grew up in GitHub’s shadow — now it’s worth twice what Microsoft (MSFT) paid for its chief rival.
Facebook (FB) plans to hire 10,000 people in the EU to build its vision for a ‘metaverse’.
Jim Cramer says strong bank earnings have changed the tone of the stock market.
Popular companies releasing earnings this week 💰
Monday: Philips (PHG), State Street (STT), Albertsons Cos. (ACI), Zions Bancorp (ZION)
Tuesday: Johnson & Johnson (JNJ), Procter & Gamble (PG), Netflix (NFLX), Philip Morris (PM), Intuitive Surgical (ISRG), Canadian National Railway (CNI), BNY Mellon (BK), Ericsson (ERIC), Travelers (TRV), Fifth Third (FITB), Kansas City Southern (KSU), Dover (DOV), Halliburton (HAL), Teradyne (TER), Signature Bank (SBNY), Omnicom (OMC), United Airlines (UAL), Interactive Brokers (IBKR)
Wednesday: Tesla (TSLA), ASML (ASML), Verizon (VZ), Abbott Labs (ABT), NextEra Energy (NEE), IBM (IBM), Anthem (ANTM), Lam Research (LRCX), CSX (CSX), Crown Castle (CCI), Edwards Lifesciences (EW), Biogen (BIIB), Kinder Morgan (KMI), Diners Club International (DFS), PPG (PPG), Nasdaq (NDAQ), Equifax (EFX), Marina Bay Sands (LVS), Northern Trust (NTRS), Baker Hughes (BKR), ICON (ICLR), M&T Bank (MTB), Market Axess (MKTX), Comerica (CMA), ARMOUR Residential (ARR)
Thursday: Snapchat (SNAP), Mattel (MAT), Intel (INTC), Danaher (DHR), AT&T (T), SAP (SAP), Union Pacific (UNP), Blackstone Group (BX), Marsh & McLennan (MMC), ABB (ABB), Freeport-McMoRan (FCX), Chipotle (CMG), IQVIA (IQV), Dow, Inc. (DOW), Silicon Valley Bank (SIVB), Valero Energy (VLO), Southwest Airlines (LUV), Nucor (NUE), Tractor Supply (TSCO), KeyBank (KEY), Ally Financial (ALLY), Genuine Parts (GPC), Celanese (CE), Quest Diagnostics (DGX), W.R. Berkley (WRB), Whirlpool (WHR), American Airlines (AAL), Allegion (ALLE), Western Alliance (WAL), Carlisle (CSL), Boston Beer (SAM)
A company’s market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a company’s stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
That’s all from us for now.
Signing out,
Enjoyed the newsletter? 🤗
Why not share with your family or friends who may be interested in starting their investing journey. Simply forward this newsletter - all they got to do is click the “Subscribe Now” button below… Or they can get the Gotrade app - they’ll automatically become a subscriber.
The legal stuff 🤓
Disclaimer: TR8 Securities Inc., trading as Gotrade, provides this service as general information only, without taking into account your circumstances, needs, or objectives. You should consider the appropriateness of any forecast or other information herein for your individual situation. If in doubt, you should seek independent professional advice.
Gotrade utilizes financial information providers and information from such providers may form the basis for analysis. Gotrade accepts no responsibility for the accuracy or completeness of any information herein contained. Additionally, any third-party information provided therein does not reflect the views of Gotrade or any of their subsidiaries or affiliates. Opinions are the authors; not necessarily that of TR8 Securities or any of its affiliates, subsidiaries, officers, or directors.
All investments involve risk and past performance does not guarantee future results or returns. There is always the potential of losing money when you invest in securities or other financial products. TR8 Securities Inc. is licensed to carry on business as a Labuan Securities Licensee under the Labuan Financial Services and Securities Act 2010 (License No. SL/20/0014).
Will it be available on Tuesday, October 19 in GoTrade?