?? Berkshire Hathaway Slashes Apple Stake by Two-Thirds in 2024
The articles and information in this newsletter are a summary of Friday’s trading and related news. They are presented for informational purposes only. Nothing in the newsletter should be taken as investment or trading advice.
S&P 5005, 728.80+23.35 (+0.41%)
Dow Jones 42,052.19+288.69 (+0.69%)
NASDAQ 18,239.92+144.72 (+0.80%)
Market close: November 1, 2024
Breaking News
Berkshire Hathaway Slashes Apple Stake by Two-Thirds in 2024.
?? Warren Buffett's Berkshire Hathaway sold an additional 25% of its Apple shares in Q3, reducing its position to about 300 million shares. This move is part of a broader strategy to increase cash holdings, which reached $325.2 billion by the end of the quarter, despite Apple's year-to-date stock increase of 20%. MarketWatch reports.
EdgeUp
?? GlobalExtend: Apple satellite connectivity provider Globalstar stock surges after deal extension. Benzinga reports.
?? SkyHigh: Amazon’s cloud unit records highest profit margin in at least a decade. CNBC reports.
?? StrikeDeal: Boeing shares rise on hopes new wage offer will end strike. Yahoo Finance reports.
?? ChipsUp: Intel shares jump 7% on earnings beat, uplifting guidance. CNBC reports.
?? NextSiemens: Siemens can make more acquisitions after Altair deal, exec tells paper. Reuters reports.
?? iTax: Apple reports better-than-anticipated Q4 revenue, earnings hurt by EU tax payment. Yahoo Finance reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time) Benzinga reports.
1. $RXRX: Recursion Pharmaceuticals
Total gain: 4181.89%
2. $NUWE: Nuwellis
Total gain: 89.7%
3. $VSTE: Vast Renewables
Total gain: 74.58%
4. $SGMA: Sigmatron International
Total gain: 61.85%
5. $OMIC: Singular Genomics Systems
Total gain: 59.28%
Trading Strategies
Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum".
Unlocking the Power of Stock Scanners in Your Small-Cap Trading Strategy
When it comes to trading, having the right tools at your disposal can make all the difference. Today, I want to dive into one of my favourite tools: stock scanners. If you’re aiming to enhance your trading experience and protect your investments, knowing how to leverage stock scanners is crucial. Let’s break down how to get the most out of them.
What Are Stock Scanners?
Stock scanners are powerful tools that help traders quickly filter through thousands of stocks to find those that meet specific criteria. They can be customized with filters based on price, market cap, volume, and technical indicators like moving averages. By setting up a scanner, you save yourself the time and effort it would take to manually search for these opportunities. The key is in knowing what to look for and how to interpret the results.
?? Read more
Refer a Friend & Earn Together
Did you know that it pays to invite your friends to TradeZero?When they fund a new account with us, you'll both receive $100 USD. T&Cs apply.
?? Learn More
Friday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on November 1.
(All pricing and percent gains are based on regular market trading hours from 9:30 am to 4:00 pm Eastern Time)
1. $VSTE: Vast Renewables
Total gain: +145.03%
The stock appeared to be moving on no notable news.
2. $CDXC: ChromaDex
Total gain: +68.48%
The company reported third-quarter 2024 financial results, highlighting strong performance across key metrics. Total net sales reached $25.6 million, with Tru Niagen contributing $18.1 million, reflecting year-over-year growth of 31% and 4%, respectively. The gross margin improved to 63.5%, up 210 basis points from the same period last year. Sales and marketing expenses dropped to 27.5% of net sales, marking a 350-basis-point improvement over last year’s 31.0%. The company achieved a net income of $1.9 million, or $0.02 per share, representing an increase of $2.8 million and $0.03 per share compared to the prior year. Benzinga reports.
3. $PRLB: Proto Labs
Total gain: +38.65%
The company reported third-quarter financial results for the period ending September 30, 2024, with revenue totaling $125.6 million, a 3.9% decline from the record $130.7 million achieved in the same quarter of 2023. Revenue from the Protolabs Network rose 11.6% year-over-year to $25.3 million. Net income was $7.2 million, or $0.29 per diluted share, compared to $8.0 million, or $0.31 per diluted share, in the prior year’s third quarter. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
GT Goodyear Tire & Rubber
3Q 2024
After Market Close Estimate: 0.210
Actual: N/A
RRX Regal Rexnord
3Q 2024
After Market Close Estimate: 2.470
Actual: N/A
BWXT BWX Technologies
3Q 2024
After Market Close Estimate: 0.770
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
10:00 am Factory orders - September
?? Enjoying the DailyEdge?
Recommend our 5-minute daily digest to a friend by sharing this link.
Extra-Time
Visit Our Knowledge Corner
Parting Thoughts
“A speculator’s chief enemies are always boredom from within and volatility from without.†― Edwin Lefèvre
Sourced in: "Reminiscences of a Stock Operator", by Edwin Lefèvre, published in 1923
?Phone?Supportfrom 8AM to 5PM ET +1-954-944-3885
?Live?Chat24/7 Customer Supporttradezero.com
The DailyEdge (“Newsletterâ€) is provided by TradeZero Holding Corp. and its affiliated broker dealers, TradeZero America, Inc., a United States broker dealer, registered with the SEC and member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC); TradeZero, Inc., a Bahamian broker dealer, registered with the Securities Commission of the Bahamas; and TradeZero Canada Securities ULC, a Canadian broker dealer, member firm of Canadian Investment Regulatory Organization (CIRO) and member of the Canadian Investor Protection Fund (CIPF) (collectively, the “TradeZero Broker Dealersâ€). The Newsletter may summarize information and articles with respect to securities investing and trading that may be of interest to TradeZero customers and the public generally. Any views and opinions expressed or third-party information provided in the Newsletter are those of the author and do not reflect the views of TradeZero or its employees. TradeZero believes that the content of the Newsletter is accurate, however, TradeZero does not warrant its accuracy and assumes no responsibility for any errors or omissions. TradeZero provides the Newsletter for information and education purposes only. The Newsletter is not a research report and is not intended to serve as the basis for any investment or trading decision. The Newsletter does not constitute an offer to sell or a solicitation to buy any security or instrument which it may reference. There is a risk of loss in online trading of securities including equities and options. Trading on margin is for experienced investors and traders only as the amount one may lose can be greater than an initial investment. Likewise, short selling as a securities trading strategy is extremely risky and can lead to potentially unlimited losses. Options trading is not suitable for all investors as it can involve risk that may expose investors to significant losses. Please read the Characteristics and Risk of Standardized Options, also known as the options disclosure document (ODD) before deciding to engage in options trading. If you have any specific questions about TradeZero’s brokerage services, please reach out to the TradeZero Broker Dealer in your jurisdiction.