BY THE NUMBERS
US equities rose on Tuesday, contributing to Friday’s record highs for the Dow Jones Industrial Average, S&P 500 and Nasdaq. The US stock market was closed for Presidents Day on Monday. All three stock positions ended higher last week, continuing the strength of February. With the close on Friday, the Dow, S&P 500 and Nasdaq rose by almost 2.8%, 4.8% and 9.4% for the year. (CNBC)
The 30-year treasury yield rose above 2% early Tuesday as investors watched progress with President Joe Biden’s proposed $ 1.9 billion Covid stimulus package on Capitol Hill and the pursuit of greater spread of coronavirus vaccines in the USA. more than 1.26%. (CNBC)
Bitcoin reached a new record high on Tuesday, reaching more than $ 50,000 per unit for the first time ever, before comparing some of the gains. Large corporations announced support for digital currencies last week. Bitcoin has more than quadrupled in 2020 and it is rising by more than 60% this year. (CNBC)
* MicroStrategy shares rise after firm reveals plans to sell convertible debt to buy more bitcoin (CNBC)
IN THE NEWS TODAY
More than 3.8 million households in Texas were in the dark on Tuesday morning as record low temperatures increased the demand for power for heat that pushed the state’s electrical network to its extreme. Running eclipses, typically on hot summer days, have been instituted in Texas. The icy weather was part of a huge winter explosion that brought snow, sleet and ice rain to the southern plains, across parts of the Ohio Valley and the northeast. (AP)
The power shortage was so great that the spot prices of wholesale electricity in the Texas power grid rose by more than 10,000% on Monday. Natural gas futures contracts rose more than 6% on Tuesday morning. However, RBC analysts said: “Certain regional spot prices for natural gas have risen ten to 100 times in a matter of days.” US oil prices also climbed to a pandemic high of more than $ 60 a barrel as drilling and refineries closed due to the cold. (CNBC & Reuters)
House Speaker Nancy Pelosi said Monday that Congress will set up a 9/11-style independent commission to investigate the deadly uprising of the U.S. Capitol last month. Investigation into the riot was already planned, with Senate hearings scheduled in the rules committee later this month. (CNBC)
* Senate GOP leader McConnell believes: acquittal confirms constitution, not Trump (WSJ)
* The social media platform Parler is back online on ‘independent technology’ (Reuters)
* New York prosecutors investigate Trump’s properties in Manhattan (WSJ)
Biden is trying to move beyond Trump’s acquittal in the indictment last week, and Biden plans to undertake his first official domestic trips of his presidency, with a CNN City Hall in Wisconsin on Tuesday and a tour of a Pfizer (PFE) Covid vaccine in Michigan on Thursday. (AP)
* Israeli study finds 94% drop in Covid-19 symptomatic cases with Pfizer vaccine (Reuters)
* Kovid-linked syndrome in children is increasing and cases are worse (NY Times)
Marriott International (MAR (announced on Tuesday the death of its CEO, Arne Sorenson, who underwent treatment for pancreatic cancer). Two weeks ago, Marriott said Sorenson would temporarily reduce its schedule to facilitate more demanding treatment. Sorenson becomes the third CEO head in the history of Marriott. in 2012, and the first without the Marriott surname (CNBC and press release)
STOCK TO WATCH
CVS Health (CVS): The pharmacy business reported quarterly earnings of $ 1.30 per share, 6 cents above the estimate. Revenue was also above forecasts from Wall Street, which was helped in part by Covid-19 testing and vaccinations at its sites.
Palantir Technologies (PLTR): The share of the industry analysis sank 6.2% in the futures market after reporting a quarterly loss, although revenue posted Street’s highest estimate on a jump in new contracts.
AutoNation (AN): The car dealer beat estimates by 42 cents a share, with a quarterly earnings of $ 2.43 per share. Revenue has also been estimated above, as demand remains high amid tight inventory. AutoNation has announced the addition of $ 1 billion to its share repurchase program.
Constellation Brands (STZ): Bierbrouer AB InBev (BUD) is suing Constellation over the use of the Corona brand for its hard seltzer. AB InBev claims that an agreement in 2013 between the two, as far as the brand is concerned, did not allow Constellation to use it for products other than beer.
CoreLogic (CLGX): CoStar Group (CSGP) has made a new bid to acquire rival real estate data provider CoreLogic worth $ 95.76 per share, following CoreLogic’s February 4 agreement signed by Stone Capital and Insight Partners private equity firms are acquired per share in cash.
Suidwes (LUV): The airline said it was still experiencing a significant impact on passenger demand year-on-year due to Covid-19, although it does expect it to improve from February to March.
Progressive (PGR): The insurer entered into an agreement to acquire Protective Insurance (PTVCB) for $ 23.30 per share in cash, compared to Protective’s closing of $ 15.01 per share on Friday. Protective stocks rose 47% in foreground trading.
Apple (AAPL): Carmaker Nissan has said it is not in talks with Apple about a possible joint venture for autonomous vehicles. According to a report in the Financial Times, the two companies briefly discussed the matter, but the talks faltered.
Toyota Motor (TM): The carmaker will halt production at nine factories in Japan following an earthquake that struck the northeastern region of Japan last week. Toyota did not specify the impact on production.
Facebook (FB): Facebook is designing a smartwatch that includes messaging features, as well as health and fitness information, according to technology website The Information, referring to people familiar with the matter. According to the report, sales of the device will begin next year.
Nvidia (NVDA): The FTC has launched an investigation into the graphic designer’s deal to buy disk designer Arm Holdings in the UK for as much as $ 40 billion. The protesters were reportedly protested by Alphabet (GOOGL), Qualcomm (QCOM) and Microsoft (MSFT) for regulators.
Bristol-Myers Squibb (BMY): Bristol and French partner Sanofi (SNY) will pay more than $ 834 million to Hawaii in a case involving the blood-thinning drug Plavix. The state accused the drug manufacturers of warning non-white patients about the risks associated with the drug. Bristol and Sanofi said the verdict was inconsistent with the evidence and promised to appeal.
Cintas (CTAS): The uniforms and building services provider has put a better outlook on the current quarter than expected, saying it now has a clearer picture of the impact of Covid-19 on its business and that its balance sheet is solid stay.