Notes
This is unusual.
Marjorie Taylor Greene said on April 7th that people panicking over tariffs were "losers and failures."
On April 8th and 9th, she just refiled her trades, showing she bought hundred of thousands of dollars in stocks, including in Apple, $AAPL, $PLTR, Nvidia, $NVDIA, $QCOM, $NKE, $AMD and much more when the market was deeply red.
On April 9th, seemingly after the purchases, Trump announced his pause on the tariffs.
Then, the stock market boomed.
QUICK MARKET SUMMARY:
CONSUMER:
🔸 GameStop ( $GME): Q4 EPS $0.30 vs est. $0.08; sales $1.28B (miss); adding Bitcoin to treasury.
🔸 Tesla ( $TSLA): Hosting launch event in Saudi Arabia on April 10.
🔸 Advance Auto Parts ( $AAP): Finished store closures; plans 30 new US stores in 2025, 100+ by 2027.
🔸 https://t.co/mNJtOGZiLg ( $PRTS): Q4 loss -$0.71 vs -$0.15 y/y; sales -15% to $133.5M; no 2025 guidance, exploring strategic options.
🔸 Dollar Tree ( $DLTR): Selling Family Dollar for $1.007B; Q4 adj. EPS $2.11 (miss), sales -42% to $4.99B; guides Q1 sales $4.5–$4.6B.
ENERGY/INDUSTRIALS/MATERIALS:
🔸 Compass Minerals ( $CMP): Cutting 10% of workforce, ending fire retardant biz; expects $11M–$13M cost savings.
🔸 Glencore (GLNCY): Declared force majeure on Chilean copper shipments.
🔸 JinkoSolar ( $JKS): Q4 loss -$0.32; sales -3.9% to $2.83B; Q1 module shipments guided at 16–18 GW.
🔸 Phillips 66 ( $PSX): Adding two board directors amid proxy fight with Elliott.
🔸 Range Resources ( $RRC): Upgraded to Equal Weight at Morgan Stanley.
🔸 Westlake Chemical ( $WLK): Downgraded to Neutral at Piper; target cut to $120.
🔸 Worthington ( $WOR): Q3 EPS $0.79 (beat); revs -4% to $304.5M; EBITDA up 10%.
🔸 US copper import tariffs may come in weeks (Bloomberg).
FINANCIALS:
🔸 Invesco Mortgage ( $IVR): Cuts dividend to $0.34 from $0.40.
🔸 PaySign ( $PAYS): Q4 EPS $0.02; guides FY revenue $68.5M–$70M.
HEALTHCARE:
🔸 Corvus Pharma ( $CRVS): Q4 loss -$0.18; cash runway into Q1 2026.
🔸 Guardant Health ( $GH): VA now covers Shield blood test for colorectal cancer screening.
🔸 Verastem ( $VSTM): Will present data at AACR 2025 in Chicago.
TECH/MEDIA/TELECOM:
🔸 Apple ( $AAPL): iPhone 16 available in Indonesia April 11.
🔸 GCT Semiconductor ( $GCTS): Q4 net loss $5M on $1.8M sales.
🔸 Qualcomm ( $QCOM): Filed antitrust complaints against Arm in US, EU, Korea.
TECH SUPPLIER ARM HOLDINGS DEVELOPING PLANS TO HIKE PRICES, POSSIBLY MAKE ITS OWN CHIPS: SEALED COURT RECORDS
For decades, the British firm kept a low profile while operating at the heart of billions of dollars of chip sales per year. It licenses the intellectual property that $AAPL, $QCOM, $MSFT and others use to design their chips, charging a small royalty for each chip produced with Arm technology.
#Downgrades - Oct 08, 2024
$ALB: CFRA Downgrades to Hold from Buy - PT $99
$AXP: HSBC Downgrades to Hold from Buy
$AXP: BTIG Downgrades to Sell from Neutral - PT $230
$BUD: TD Cowen Downgrades to Hold from Buy - PT $68
$CME: Redburn-Atlantic Downgrades to Neutral from Buy - PT $244
$FYBR: TD Cowen Downgrades to Hold from Buy - PT $38.50 (from $39)
$MSFT: Oppenheimer Downgrades to Perform from Outperform
$OMF: Barclays Downgrades to Equalweight from Overweight - PT $46 (from $52)
$OTIS: Wolfe Research Downgrades to Peerperform from Outperform
$QCOM: KeyBanc Downgrades to Sector Weight from Overweight
$STZ: TD Cowen Downgrades to Hold from Buy - PT $270 (from $300)
$SYNA: KeyBanc Downgrades to Sector Weight from Overweight