?? Boeing Braces for Potential Strike by 33,000 Workers Amid Union Tensions
The articles and information in this newsletter are a summary of yesterday’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 500 5,554.13 +58.61 (+1.07%)
Dow Jones 40,861.71 +124.75 (+0.31%)
NASDAQ 17,395.53 +369.65 (+2.17%)
Market close: September 11, 2024
Breaking News
Boeing Braces for Potential Strike by 33,000 Workers Amid Union Tensions?? The company faces a potential strike by 33,000 workers despite a proposed contract offering a 25% pay raise. If approved, the strike could halt production and disrupt Boeing's supply chain, though air travel won’t be affected. CNN reports.
Image source: Wikimedia Commons
EdgeUp
?? ElectriStell: Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contract. Yahoo Finance reports.
?? LayoffWave: Samsung Electronics plans global job cuts of up to 30% in some divisions. Reuters reports.
??? FrameAI: Adobe to launch generative AI video creation tool later this year. Yahoo Finance reports.
?? FreshStart: Amazon is opening Fresh supermarkets after yearlong stall. CNBC reports.
?? TruthCrash: Trump Media shares slide after debate as lockup expiry looms. Yahoo Finance reports.
?? WeightWise: Novo Nordisk reports positive results of weight-loss drug liraglutide for children as young as 6, eyes FDA and EMA approval. Benzinga 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. $TNON: Tenon Medical
Total gain: +136.6%
2. $SMFL: Smart for Life
Total gain: +72.94%
3. $PTIX: Protagenic Therapeutics
Total gain: +43.99%
4. $NITO: N2OFF
Total gain: +32.94%
5. $NTGR: Netgear
Total gain: +27.74%
Tech Thursday
Apple believes Apple Intelligence is its platform of the future. Rolling it out will take time.
Apple’s iPhone 16 line hits store shelves on September 20, and while the new phones get some impressive hardware upgrades, their biggest selling point isn’t the Pros' larger displays or the lineup’s Camera Control button. It’s the generative AI-powered Apple Intelligence software platform. And while Apple Intelligence won’t launch alongside the new phones — it’ll begin to roll out as a software update for US English users in October — it’s clear that Apple is throwing all of its weight behind the technology as the catalyst to reaccelerate iPhone sales, which have flagged in recent quarters.
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Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on September 11.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $PLCE: Children's Place
Total gain: +85.71%
The company announced its financial results for the second quarter, which ended on August 3, 2024. Net sales decreased by $25.9 million, or 7.5%, to $319.7 million for the three months ending on August 3, 2024, compared to $345.6 million for the three months ending on July 29, 2023. Benzinga reports.
2. $PCT: PureCycle Technologies
Total gain: +43.92%
The company entered into a series of transactions with Sylebra Capital Management and Samlyn Capital, LLC to raise gross proceeds of $90 million. PureCycle expects the transactions to close on September 13, 2024. Benzinga reports.
3. $WOOF: Petco Health and Wellness
Total gain: +32.90%
Petco Health and Wellness Company announced its second-quarter 2024 financial results. Net revenue decreased by 0.5% year-over-year to $1.52 billion. Comparable sales increased by 0.3% year-over-year and by 3.5% on a two-year basis. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
ADBE Adobe
3Q 2024
After Market Close Estimate: 4.100 Actual: N/A
RH RH
2Q 2024
After Market Close Estimate: 1.600 Actual: N/A
RLGT Radiant Logistics
4Q 2024
After Market Close Estimate: 0.100 Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am Initial jobless claims - September 7
8:30 am Producer price index - August
8:30 am Core PPI - August
Extra-Time
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Parting Thoughts
“The greatest investment reward comes to those who research and reach decisions slowly, but act promptly.” ― Philip Fisher
Sourced in: “Common Stocks and Uncommon Profits”, by Philip Fisher, published in 1958