Profits double

Nvidia doubles profit as A.I. chip sales soar, Bitcoin crosses $97,000 in new record-high, Walmart attracting high income shoppers, Target sounds the alarm on holiday shopping, and MicroStrategy becomes second-most traded stock after Nvidia...

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Market Briefing
November 21, 2024

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Good morning.

The Fast Five → Nvidia doubles profit as A.I. chip sales soar, Bitcoin crosses $97,000 in new record-high, Walmart attracting high income shoppers, Target sounds the alarm on holiday shopping, and MicroStrategy becomes second-most traded stock after Nvidia…

Calendar: (all times ET) - Full calendar

  • Today:
    Initial jobless claims, 8:30 am
    Existing home sales 10:00 am

  • Tomorrow:
    Consumer sentiment, 10:00 am

Your 5-minute briefing for Thursday, November 21:

BEFORE THE OPEN

As of market close 11/20/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 49.84% for Week of November 14 2024

Last week: 41.54%. Updates every Friday.

Market Wrap:

  • Nasdaq futures fell 0.5%; S&P down 0.4%; Dow slipped 49 points (-0.1%).

  • Nvidia dropped 2% post-earnings despite beating estimates, strong guidance.

  • Snowflake soared 19% after surpassing Q3 expectations.

  • Dow rose 140 points; S&P flat; Nasdaq dipped 0.1% Wednesday.

  • Today: Jobless claims, home sales, Fed speeches.

EARNINGS

Here’s what we’re watching this week. Full calendar »

  • Today: Gap (GAP), Ross Stores (ROST)

    • Deere (DE) - earnings of $3.93 per share (-52% YoY) on $9.3B revenue (-32.7% YoY)

HEADLINES

The company, which dominates the market for chips used to build artificial intelligence, expects another big jump in the current quarter.

Bitcoin has been regularly hitting fresh records this month on hopes that Trump will usher in a golden age of crypto.

  • Markets think the odds of a Fed pause in December are rising (more)

  • Oil prices edge up on geopolitical tensions (more)

  • Dollar pulls ahead as markets focus on Trump policies, Fed outlook (more)

  • Asian stocks dip as Nvidia results fail to impress (more)

  • Target sounds the alarm bell on holiday shopping (more)

  • Walmart is seeing growth in higher income shoppers (more)

  • MicroStrategy becomes second-most traded stock after Nvidia (more)

  • Williams-Sonoma CEO explains pricing strategy after earnings beat (more)

  • Nvidia partner Hon Hai gets $1.1 Billion bank loan amid AI boom (more)

  • Bill Hwang sentenced to 18 years in prison in Archegos case (more)

  • Billionaire Gautam Adani of India's Adani Group charged in US with bribery (more)

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DEALFLOW

M+A | Investments

  • Funding for Seven & i founding family buyout will be finalised by end Dec (more)

  • Vista Equity sells LogicMonitor stake in $2.4 billion deal (more)

  • South Africa's Tiger Brands to sell Baby Wellbeing business, excluding Purity (more)

  • Certinia, a provider of Professional Services Automation and Customer Success solutions, received an investment from TA Associates (more)

VC

  • Taito.ai, an AI-powered performance enablement platform, raised $2.7M in Seed funding (more)

  • Cyera, a data security company, raised $300M in Series D funding, at $3 bln valuation (more)

  • Tokamak Energy, a commercial fusion energy company, raised $125M in funding (more)

  • Aquaria, a company building communities and cities supplied with water from the sky, raised $112M in funding (more)

  • Magma Math, a K-12 instructional math platform for teacher efficiency and classroom management, raised $40M in Series A funding (more)

  • Prism Worldwide, a company specializing in material solutions, raised $40M in Series A and A1 funding (more)

  • Zarminali Health, an outpatient pediatric destination providing coordinated primary and specialty care nationwide, raised $40M in Seed funding (more)

  • Federato, an AI-native underwriting platform for insurance, raised $40M in Series C funding (more)

  • Lightyear, enterprise telecom management software, raised $31M in Series B funding (more)

  • Valora Therapeutics, a biotech company providing a novel approach to immunotherapy, raised $30M in Seed funding (more)

  • Monkey Tilt, a platform providing entertainment and online gaming experiences, raised $30M in Series A funding (more)

  • Synapticure, a virtual care company improving access and outcomes for patients living with Alzheimer’s, raised $25M in Series A funding (more)

  • Revv, a B2B SaaS business improving the auto repair industry with AI, raised $20M in funding (more)

  • Prompt Security, a company specializing in Generative AI (GenAI) security, raised $18M in Series A funding (more)

  • BrightAI, a company specializing in AI-driven solutions for critical infrastructure, raised $15M in Seed funding (more)

  • Keychain, a manufacturing platform for the packaged goods industry, raised $15M in funding (more)

  • Four Growers, a startup building harvesting robots to reduce the production costs of greenhouse growers, raised $9M in Series A Funding (more)

  • Zitadel, a provider of cloud-native identity infrastructure solutions, raised $9M in Series A funding (more)

  • Apideck, a provider of real-time Unified APIs, raised $7.5M in Series A funding (more)

  • Flywheel Dynamix, a buyer-centric cloud marketplace to simplify software acquisition for buyers, raised $7M in Seed funding (more)

  • Hopae, a digital identity solution company, raised $6.5M in funding (more)

  • Distru, a cannabis industry ERP platform provider, raised $6M in Series A funding (more)

  • Anaflash, an edge AI processor developer, raised an undisclosed amount in funding (more)

CRYPTO

  • Trump team mulls creating first-ever White House crypto role (more)

  • Juiced USDS yields woo Solana traders to Sky's stablecoin (more)

  • MicroStrategy upsizes debt offering to $2.6B; breaks into top 100 US public companies by market cap (more)

BULLISH BITES

📺 New Frontier: Comcast’s cable network spinoff may be a signal to the media industry for change.

🤪  Too Far? Radical Jaguar rebrand and new logo sparks ire online.

🚫 Cheaters: American Airlines to shame boarding line cutters with new technology.

🍌 Crazy: Crypto chief buys a banana taped to wall at auction for $6.24 million.

DAILY SHARES

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