? Musk Promises A New Roadster
S&P 500 5,069.83 -8.35 (-0.16%)
Dow Jones 38,949.29 -23.12 (-0.06%)
NASDAQ 15,947.74 -87.56 (-0.55%)
Market close: February 28, 2024
Breaking News
Elon Musk has once again promised to deliver a next-generation Roadster six years after his initial announcement. CNBC reports.
(Source: Wikimedia Commons by Overlaet)
The Warm Up
Macy’s will close about 150 department stores and invest in its roughly 350 remaining locations. CNBC reports.
Warner Bros. Discovery halts merger talks with Paramount Global after several months. NYPost reports.
Housing inflation will finally cool in coming months according to U.S. Federal Reserve officials. Reuters reports.
TikTok will be compliant with Indonesia's regulation that bans in-app transactions on social media. Reuters reports.
Biden is to issue an executive order aimed at protecting Americans’ sensitive data from China. CNBC reports.
Sony is to lay off 900 staff as tough times for the video games industry persist. CNN reports.
Tech Thursday
Reddit hasn’t turned a profit in nearly 20 years, but it just filed to go public anyway.
Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday. The move would make Reddit the first major social media company to go public since Snapchat in 2017. And the offering will come with a twist that could allow some of the most fervent of its more than 70 million daily users to buy shares in the IPO — an opportunity typically reserved for institutional investors.
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on February 28.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $VANI: Vivani Medical
Total gain: (268%)
The company announced positive preclinical data on weight loss effects for NPM-115, the Company's miniature, twice-yearly, exenatide implant under development for the treatment of chronic weight management. Benzinga reports.
2. $VTVT: VTv Therapeutics
Total gain: (99%)
The company announced that it has closed a private placement to healthcare-focused institutional investors. Benzinga reports.
3. $BETS: Bit Brother
Total gain: (67%)
The stock appears to be moving on no notable news.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
DELL Dell Technologies
Quarter 4, 2024
After Market Close Estimate: 1.73 Actual: N/A
GMS GMS
Quarter 3, 2024
Before Market Open Estimate: 1.61 Actual: 1.60
HGV Hilton Grand Vacations
Quarter 4, 2023
Before Market Open Estimate: 0.95 Actual: 1.01
Today’s Key Economic Dates
Time (ET) / Report / Period
08:30 am Initial Jobless Claims
10:00 am Pending Home Sales
January
01:15 pm Cleveland Federal Reserve President, Loretta Mester, speaks
Extra-Time
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Parting Thoughts
"Most people don't understand the process. They get frustrated by it. Don't be. Focus. "
― David Sikhosana
Sourced in: Trade and Grow Rich: Adventurous Journey to Successful trading Indrazith Shantharaj, Kirankumar Nayak · 2018
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