Markets Journal 04/03/2020

  • Top Movers:
    • CD Projekt OTGLY: +17.16%
    • Luckin Coffee LK: -15.94%
    • Entravision Communications EVC: -14.77%
  • Warren E Buffett (Berkshire Hathaway BRK) sells some stake in Delta Air Lines DAL
  • Top unions call for closure of all Amazon AMZN warehouses
  • Amazon AMZN to delay Prime Day sales event due to coronavirus
  • Banks were not prepared for flood of small business coronavirus loan applications
  • Guidewire Software GWRE reached a 52 week low at $71.64
  • RUBI reached a 52 week low at $4.45
  • StoneCo STNE reached a 52 week low at $18.32
  • Entravision Communications EVC reached a 52 week low at $1.66
  • Facebook FB is blocking a million accounts a day to protect the election: Sheryl Sandberg
  • Dorman Products DORM reached a 52 week low at $46.50
  • Paycom PAYC reached a 52 week low at 171.31
  • BGC Partners BGCP reached a 52 week low at $2.07
  • American Air Lines AAL reached a 52 week low at $9.90
  • Funko FNKO reached an all time low at $3.40
  • March Jobs Report: U.S. employers cut 701,000 payrolls in March (-100,000 expected), the first monthly loss in a decade

Markets Journal 04/02/2020

  • March Jobs Report comes out on Friday (04/03/2020)
  • TOP Movers:
    • LK (Luckin Coffee): -75.57%
    • LYV (LiveNation): -12.68%
    • GRUB (Grubhub): -12.03%
  • Tesla (TSLA) misses estimates for quarterly deliveries
  • RUBI is down 12.50% to $4.62
  • Oil posts biggest one-day gain on record
    • Reason: Trump says he expects Saudi Arabia and Russia to cut production (supply)
  • Funko (FNKO) reached an all time low at $3.49
  • Luckin Coffee (LK) shares fall 81% after board suspends COO for alleged “fabricated transactions”
  • Altria Group (MO) portfolio co is down 5.98% to $35.36
  • Initial Jobless Claims jump to a record 6.648 million from 3.307 million last week (3.76 million expected) – LMAO!!!!
  • Zoom (ZM) users surge from 10 million to 200 million as world works from home.
  • Russian private oil executives have begged the Kremlin to settle its Saudi stand-off, which Lukoil Vice President for Strategic Development Leonid Fedun predicted the U.S. would win. Experts predict a severe recession in Russia if oil prices remain below $30 per barrel. Low prices are also raising the economic and political price for the Kremlin of propping up the Maduro regime in Venezuela. Saudi Arabia can pump oil at a lower cost than almost anywhere, but Crown Prince Mohammed bin Salman needs a price of about $80 a barrel to balance the Kingdom’s budget. Src: WSJ Editorial Board
  • the T-Mobile-Sprint merger closed on Wednesday following two years of political interference from state Attorneys General and the Justice Department. The deal will increase wireless competition and accelerate 5G, enabling more artificial intelligence, distance education, telemedicine and even remote surgery. Src: WSJ editorial board.