WEBVTT
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00:00:01.760 --> 00:00:05.719
Welcome to Wall Street breakfast, your
daily source of market news and analysis.
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00:00:05.919 --> 00:00:12.359
Subscribe to this podcast on Apple podcasts, Google podcasts, spotify and stitcher.
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00:00:17.719 --> 00:00:22.519
Good Morning. Today is Wednesday,
February twenty two. I'm Pim Fox.
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00:00:22.839 --> 00:00:27.600
Coming up. Our top stories include
NATO sees no sign of Russian pullback,
5
00:00:28.079 --> 00:00:33.240
masks off at Disney world and no
more staring at headlights. Those stories and
6
00:00:33.359 --> 00:00:36.920
more, but first let's get caught
up on markets. Equity Futures are lower,
7
00:00:36.920 --> 00:00:41.439
with SMP five hundred futures, Nasdaq
one hundred futures and Dow futures all
8
00:00:41.600 --> 00:00:45.560
down about two tenths of a percent. The yield on the ten year Treasury
9
00:00:45.600 --> 00:00:50.039
is two point Oh three percent.
Oil Trades at ninety four dollars of barrel,
10
00:00:50.280 --> 00:00:54.359
Bitcoin is forty four thousand dollars,
and gold trades at eighteen hundred and
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00:00:54.399 --> 00:00:58.960
fifty six dollars. announced the dollar
is stronger versus the Japanese yen, but
12
00:00:59.039 --> 00:01:03.000
it is slightly weaker against the euro
and the British pound. At midday,
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00:01:03.159 --> 00:01:07.519
the Europe stock six D indexes unchanged. In Asia, stocks gained. Japan's
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00:01:07.599 --> 00:01:12.519
nick to rows more than two percent. Hong Kong's hang sand closed higher by
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00:01:12.560 --> 00:01:17.799
one and a half percent and the
Shanghai composite closed up six tenths of a
16
00:01:17.879 --> 00:01:22.719
percent. Stocks making moves before the
opening bell include craft higns. The shares
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00:01:22.760 --> 00:01:26.760
are up more than one and a
half percent pre market after reporting fourth quarter
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00:01:26.840 --> 00:01:30.799
profit and sales that beat expectations.
Shares of Shopifi are off more than three
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00:01:30.840 --> 00:01:36.680
percent in pre market trading, though
the e commerce company topped expectations with its
20
00:01:36.760 --> 00:01:41.319
latest earnings and revenue report. Shares
of Viacom, CBS, or down ten
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00:01:41.400 --> 00:01:46.159
percent after the company reported fiscal fourth
quarter earnings that fell short of Wall Street
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00:01:46.159 --> 00:01:51.480
analysts estimates. A company said it
is renaming itself paramount global. Shares of
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00:01:51.560 --> 00:01:55.159
Barrack Gold, or of eight tenths
of a percent in pre market trading after
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00:01:55.200 --> 00:02:00.200
the gold miner reported fourth quarter earnings
that beat expectations, set a one billion
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00:02:00.239 --> 00:02:05.920
dollars share buyback program and raised its
dividend. Shares of analog devices surged about
26
00:02:05.920 --> 00:02:10.360
two percent in pre market trading after
the semiconductor maker reported fiscal first quarter adjusted
27
00:02:10.400 --> 00:02:15.520
profit and revenue that were above expectations. The company also provided an upbeat outlook
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00:02:15.560 --> 00:02:21.599
and raised its dividend by ten percent. Shares of wix are down thirteen percent
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00:02:21.759 --> 00:02:25.439
after reporting a loss in line with
estimates but sales that were lower than expected.
30
00:02:25.680 --> 00:02:30.280
Coming up. American International Group,
Boston Beer, CISCO systems, crocs,
31
00:02:30.360 --> 00:02:37.080
Equinix, GENERAC Holdings, Hilton Worldwide, marathon, oil and Video Pioneer
32
00:02:37.159 --> 00:02:43.120
Natural Resources, synopsis and Vulcan Materials
are scheduled to report results. The National
33
00:02:43.159 --> 00:02:47.560
Association of Home Builders releases its housing
market index for February and the Census Bureau
34
00:02:47.639 --> 00:02:53.960
reports retail spending for January. Now
our top stories. Russia said that it
35
00:02:53.039 --> 00:02:58.439
is returning more troops and weapons to
bases, but NATO declared it saw no
36
00:02:58.639 --> 00:03:01.520
sign of a draw down. Russia
has massed about a hundred and fifty thousand
37
00:03:01.520 --> 00:03:07.560
troops east, north and south of
Ukraine, sparking Western concerns it is planning
38
00:03:07.599 --> 00:03:10.319
an attack. Moscow denies it has
any such plans and this week said it
39
00:03:10.360 --> 00:03:15.120
was pulling back some forces and weapons, though it gave few details. Beginning
40
00:03:15.120 --> 00:03:20.599
this week, the masks are coming
off for vaccinated visitors to Walt Disney world
41
00:03:20.599 --> 00:03:23.919
in Florida. The theme park resort
announced that face coverings will be optional for
42
00:03:24.080 --> 00:03:30.520
fully vaccinated visitors in all indoor and
outdoor locations, with one exception. Face
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00:03:30.599 --> 00:03:37.199
masks still will be needed for visitors
aged two and older on enclosed transportation and
44
00:03:37.240 --> 00:03:40.800
the US highway safety regulators are about
to allow new high tech headlights that can
45
00:03:40.840 --> 00:03:46.120
automatically tailor beams so they focus on
dark areas of the road and don't create
46
00:03:46.240 --> 00:03:52.680
glare for oncoming drivers. The National
Highway Traffic Safety Administration says it issued a
47
00:03:52.759 --> 00:03:58.400
final rule allowing what's called adaptive driving
beam headlights on new vehicles. It will
48
00:03:58.439 --> 00:04:01.639
go into effect when published in Federal
Register in the next few days. The
49
00:04:01.719 --> 00:04:08.000
headlights commonly used in Europe have led
lamps that can focus beams on darkness such
50
00:04:08.039 --> 00:04:12.960
as the driver's lane and areas along
the roadside. They also lower the intensity
51
00:04:13.000 --> 00:04:17.160
of the light beams if there's oncoming
traffic. Camera sensors and computers helped determine
52
00:04:17.160 --> 00:04:21.360
where the light should go. In
other news, the tenure treasury yield climbed
53
00:04:21.399 --> 00:04:26.959
to its highest level in two years
Tuesday. Data released Tuesday also showed that
54
00:04:27.079 --> 00:04:31.639
US hostale prices jump one percent in
January. The New York feds empire manufacturing
55
00:04:31.680 --> 00:04:36.879
index was barely positive at three point
one in February. The Biden Administration is
56
00:04:36.879 --> 00:04:42.879
telling Congress that it needs an additional
thirty billion dollars for covid nineteen protection and
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00:04:42.959 --> 00:04:47.560
detection programs. According to the Committee
for Responsible Federal Budget, Congress has already
58
00:04:47.600 --> 00:04:53.600
approved nearly six trillion dollars to deal
with the pandemic. Republicans on the Senate
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00:04:53.600 --> 00:04:58.319
Banking Committee declined to show up Tuesday
for votes on President Biden's nominees to the
60
00:04:58.319 --> 00:05:02.160
Federal Reserve over their objection into Sarah
Bloom Raskin. One of the choices is
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00:05:02.279 --> 00:05:08.079
delays the confirmation of Fed shared Jerome
Powell to his second for your term.
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00:05:08.240 --> 00:05:12.879
Investors poured a record amount of money
into apartments across the country. In one
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00:05:13.079 --> 00:05:16.160
nearly a quarter of the three hundred
and thirty five billion dollars invested went to
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00:05:16.279 --> 00:05:20.639
just four metro areas in the sun
belt, Dallas, Atlanta, Phoenix and
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00:05:20.839 --> 00:05:26.079
Houston. Prices to ship goods from
Canada to the US on the spot market
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00:05:26.120 --> 00:05:30.959
for standard heavy duty trucks jumped over
from January second to February five. According
67
00:05:30.959 --> 00:05:35.360
to Truck Stop Dot Com, the
rate for refrigerated trucks rose by a third
68
00:05:35.399 --> 00:05:40.879
over that period. Rate increases to
ship goods from the US to Canada rose
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00:05:40.920 --> 00:05:45.480
by more than twenty during the period. Bio N Tech, the German biotech
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00:05:45.519 --> 00:05:49.079
company that, with Fiser, developed
the first Western covid nineteen shot, unveiled
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00:05:49.120 --> 00:05:55.079
mobile vaccine production units that it aims
to deploy across Africa and other regions that
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00:05:55.160 --> 00:06:00.040
have had limited access to supplies.
The modular factories are encased in shipping can
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00:06:00.079 --> 00:06:04.720
tainers. Coin base is expanding its
global payments business by launching a cryptocurrency remittance
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00:06:04.759 --> 00:06:11.560
pilot program in Mexico. The crypto
exchange platform has partnered with remittly global to
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00:06:11.639 --> 00:06:15.800
allow US customers to send cryptocurrencies to
recipients in Mexico, who will immediately be
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00:06:15.879 --> 00:06:20.959
able to cash out their crypto holdings
in their local currency. AIRBNB said its
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00:06:20.959 --> 00:06:27.279
business has almost fully recovered from the
effects of covid nineteen. AIRBNB shares advanced
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00:06:27.319 --> 00:06:31.720
eight percent in the extended session Tuesday. Marriott International said its workforce has declined
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00:06:31.759 --> 00:06:36.959
over thirty in the last two years. Higher Commodity prices and higher than expected
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00:06:36.959 --> 00:06:42.639
production volumes drove devon energy to a
profit for the most recent quarter and year.
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00:06:42.959 --> 00:06:46.399
Operating cash flow was the highest level
in the company's history. Beer maker
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00:06:46.480 --> 00:06:51.399
Heineken reported better than expected performance for
twenty one, but warned that price of
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00:06:51.560 --> 00:06:59.000
inputs will rise in two as inflation
continues to mount roadblocks. Shares dropped fifteen
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00:06:59.000 --> 00:07:03.199
percent after hours Tuesday as the Social
Gaming Platform reported quarterly results that fell short
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00:07:03.199 --> 00:07:08.519
of Wall Street expectations. Shares of
toast fell more than ten percent in the
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00:07:08.560 --> 00:07:14.439
extended session Tuesday after the restaurant focused
payments company reported a mixed quarter. Akamai
87
00:07:14.560 --> 00:07:19.120
technologies announced an agreement to acquire lenote, a Philadelphia based cloud hosting company,
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00:07:19.199 --> 00:07:25.079
for nine million dollars in cash.
Shares of lazy boy drop more than eight
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00:07:25.079 --> 00:07:30.480
percent in the extended session Tuesday after
the furniture maker reported missed mixed fiscal third
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00:07:30.519 --> 00:07:33.920
quarter results, citing production issues.
Amid high demand for its furniture items,
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00:07:34.120 --> 00:07:40.519
it should include its recliners. Seaworld
entertainment software to acquire a seater fair has
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00:07:40.560 --> 00:07:46.319
been rejected. Shares of upstart holdings
surged more than and after hours trading Tuesday.
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00:07:46.600 --> 00:07:50.800
The Financial Technology Company reported results that
topped expectations and announced a new share
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00:07:50.839 --> 00:07:57.720
purchase program Sonic Automotive reported a record
fourth quarter profit that beat expectations by a
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00:07:57.759 --> 00:08:01.600
wide margin and more than doubled its
divid end, while same store sales of
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00:08:01.680 --> 00:08:07.279
new and used vehicles fell. Tobacco
giant Altria said that an administrative law judge
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00:08:07.279 --> 00:08:11.680
has dismissed a federal lawsuit alleging the
company's partnership with e cigarette maker Jewel labs
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00:08:11.879 --> 00:08:18.160
amounted to an anti competitive agreement that
hurt consumers. Casino operator win resorts posted
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00:08:18.160 --> 00:08:22.959
an adjusted fourth quarter loss that was
wider than analysts estimates, and the stock
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00:08:22.000 --> 00:08:26.199
fell in pre market trading. Forts
Askew medals reported a more than thirty percent
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00:08:26.240 --> 00:08:31.759
fall in first half net profit because
of higher operating costs and weaker prices for
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00:08:31.800 --> 00:08:35.440
the iron ore that it produces.
Federal safety regulators so that they will retain
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00:08:35.480 --> 00:08:39.919
power to approve Boeing seven eight seven
airliners for flight, rather than return that
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00:08:39.960 --> 00:08:45.279
authority to the aircraft maker, which
hasn't been able to deliver any new dreamliner
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00:08:45.320 --> 00:08:50.200
plane since last May because of production
flaws. Shares of Anderson's rose six and
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00:08:50.200 --> 00:08:54.919
a half percent post market after the
exceeding Wall Street estimates for fourth quarter earnings
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00:08:54.919 --> 00:09:00.639
and revenue, as agricultural fundamentals were
strong. CF industries reported fire sales and
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00:09:00.720 --> 00:09:03.799
net earnings in the fourth quarter as
prices were lifted by strong global demand and
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00:09:03.919 --> 00:09:11.120
higher energy costs. CF industries makes
hydrogen and nitrogen products. Aluminum hovered near
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00:09:11.159 --> 00:09:16.159
its highest price since two thousand and
eight shortages of Avocados in the US are
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00:09:16.159 --> 00:09:20.600
already showing up in the supply chain
after a suspension of imports from Mexico.
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00:09:20.759 --> 00:09:24.159
Mexico accounts for about eight percent of
the US market. The super bowl got
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00:09:24.159 --> 00:09:28.399
a massive ratings rebound on Sunday.
The game between the Los Angeles Rams and
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00:09:28.440 --> 00:09:35.200
the Cincinnati bengals delivered over one hundred
and twelve million viewers across NBC, NFL
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00:09:35.240 --> 00:09:39.679
and Yahoo Platforms. That's a four
from last year. And a rare gilded
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00:09:39.720 --> 00:09:45.159
age mansion in Daryanne, Connecticut,
has hit the market for one hundred million
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00:09:45.200 --> 00:09:48.759
dollars. Known as the Great Island
for its location on sixty acres of private
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00:09:48.840 --> 00:09:54.279
land, the property offers over a
mile of shoreline on long island sound.
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00:09:54.559 --> 00:09:58.759
Great Island is considered the largest private
island ever to be offered for sale on
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00:09:58.840 --> 00:10:01.919
the East Coast. The property was
built in nineteen o two and then purchased
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00:10:01.919 --> 00:10:07.279
by Baking Powder Entrepreneur William Ziegler.
It has remained in the Ziegler family ever
122
00:10:07.360 --> 00:10:13.600
since, and the former House and
surrounding gardens of former South African President Nelson
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00:10:13.639 --> 00:10:18.600
Mandela is now accepting reservations after being
transformed into an inn. And more than
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00:10:18.679 --> 00:10:24.240
one hundred passengers were stranded for hours
on an Amtrak train that's stalled in New
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00:10:24.320 --> 00:10:28.200
York City following a power loss.
Monday. For nearly seven hours, a
126
00:10:28.279 --> 00:10:33.080
hundred and six passengers and crew members
were stuck on Amtrak's seller train, which
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00:10:33.159 --> 00:10:37.080
was traveling from Boston to Washington D
C. At seven am. Equity futures
128
00:10:37.080 --> 00:10:41.399
are slightly lower. SMP five hundred
futures, Nasdaq one hundred futures and Dow
129
00:10:41.519 --> 00:10:46.039
futures are down about two tenths of
a percent. The yield on the tenure
130
00:10:46.039 --> 00:10:50.320
Treasury is two point Oh three percent. Oil Trades at ninety four dollars a
131
00:10:50.399 --> 00:10:54.879
barrel. Bitcoin is forty four thousand
dollars, while gold trades at eighteen hundred
132
00:10:54.960 --> 00:10:58.799
and fifty six dollars. An ounced
coming up American International Group, Boston B
133
00:11:00.240 --> 00:11:05.440
Cisco Systems, crocs, Equinox,
GENERAC Holdings, Hilton worldwide, marathon oil
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00:11:05.600 --> 00:11:11.600
and video. Pioneer Natural Resources Synopsis
and Vulcan Materials are set to report results.
135
00:11:11.919 --> 00:11:16.639
The National Association of Home Builders releases
its housing market index for February and
136
00:11:16.759 --> 00:11:22.000
the Census Bureau reports retail sales spending
for January. Thanks for listening and have
137
00:11:22.080 --> 00:11:30.720
a successful day. That concludes today's
Wall Street breakfast. Thank you for listening.
138
00:11:30.879 --> 00:11:33.840
For the best news and analysis on
the web, go to seeking Alpha
139
00:11:33.960 --> 00:11:37.639
Dot Com. To subscribe to this
podcast, go to apple podcasts, Google
140
00:11:37.679 --> 00:11:43.639
podcasts, spotify and stitcher. You
can sign up for our other podcasts,
141
00:11:43.679 --> 00:11:48.039
Alpha trader and the cannabis investing podcast, on those platforms as well.
1
00:00:01.760 --> 00:00:05.719
Welcome to Wall Street breakfast, your
daily source of market news and analysis.
2
00:00:05.919 --> 00:00:12.359
Subscribe to this podcast on Apple podcasts, Google podcasts, spotify and stitcher.
3
00:00:17.719 --> 00:00:22.519
Good Morning. Today is Wednesday,
February twenty two. I'm Pim Fox.
4
00:00:22.839 --> 00:00:27.600
Coming up. Our top stories include
NATO sees no sign of Russian pullback,
5
00:00:28.079 --> 00:00:33.240
masks off at Disney world and no
more staring at headlights. Those stories and
6
00:00:33.359 --> 00:00:36.920
more, but first let's get caught
up on markets. Equity Futures are lower,
7
00:00:36.920 --> 00:00:41.439
with SMP five hundred futures, Nasdaq
one hundred futures and Dow futures all
8
00:00:41.600 --> 00:00:45.560
down about two tenths of a percent. The yield on the ten year Treasury
9
00:00:45.600 --> 00:00:50.039
is two point Oh three percent.
Oil Trades at ninety four dollars of barrel,
10
00:00:50.280 --> 00:00:54.359
Bitcoin is forty four thousand dollars,
and gold trades at eighteen hundred and
11
00:00:54.399 --> 00:00:58.960
fifty six dollars. announced the dollar
is stronger versus the Japanese yen, but
12
00:00:59.039 --> 00:01:03.000
it is slightly weaker against the euro
and the British pound. At midday,
13
00:01:03.159 --> 00:01:07.519
the Europe stock six D indexes unchanged. In Asia, stocks gained. Japan's
14
00:01:07.599 --> 00:01:12.519
nick to rows more than two percent. Hong Kong's hang sand closed higher by
15
00:01:12.560 --> 00:01:17.799
one and a half percent and the
Shanghai composite closed up six tenths of a
16
00:01:17.879 --> 00:01:22.719
percent. Stocks making moves before the
opening bell include craft higns. The shares
17
00:01:22.760 --> 00:01:26.760
are up more than one and a
half percent pre market after reporting fourth quarter
18
00:01:26.840 --> 00:01:30.799
profit and sales that beat expectations.
Shares of Shopifi are off more than three
19
00:01:30.840 --> 00:01:36.680
percent in pre market trading, though
the e commerce company topped expectations with its
20
00:01:36.760 --> 00:01:41.319
latest earnings and revenue report. Shares
of Viacom, CBS, or down ten
21
00:01:41.400 --> 00:01:46.159
percent after the company reported fiscal fourth
quarter earnings that fell short of Wall Street
22
00:01:46.159 --> 00:01:51.480
analysts estimates. A company said it
is renaming itself paramount global. Shares of
23
00:01:51.560 --> 00:01:55.159
Barrack Gold, or of eight tenths
of a percent in pre market trading after
24
00:01:55.200 --> 00:02:00.200
the gold miner reported fourth quarter earnings
that beat expectations, set a one billion
25
00:02:00.239 --> 00:02:05.920
dollars share buyback program and raised its
dividend. Shares of analog devices surged about
26
00:02:05.920 --> 00:02:10.360
two percent in pre market trading after
the semiconductor maker reported fiscal first quarter adjusted
27
00:02:10.400 --> 00:02:15.520
profit and revenue that were above expectations. The company also provided an upbeat outlook
28
00:02:15.560 --> 00:02:21.599
and raised its dividend by ten percent. Shares of wix are down thirteen percent
29
00:02:21.759 --> 00:02:25.439
after reporting a loss in line with
estimates but sales that were lower than expected.
30
00:02:25.680 --> 00:02:30.280
Coming up. American International Group,
Boston Beer, CISCO systems, crocs,
31
00:02:30.360 --> 00:02:37.080
Equinix, GENERAC Holdings, Hilton Worldwide, marathon, oil and Video Pioneer
32
00:02:37.159 --> 00:02:43.120
Natural Resources, synopsis and Vulcan Materials
are scheduled to report results. The National
33
00:02:43.159 --> 00:02:47.560
Association of Home Builders releases its housing
market index for February and the Census Bureau
34
00:02:47.639 --> 00:02:53.960
reports retail spending for January. Now
our top stories. Russia said that it
35
00:02:53.039 --> 00:02:58.439
is returning more troops and weapons to
bases, but NATO declared it saw no
36
00:02:58.639 --> 00:03:01.520
sign of a draw down. Russia
has massed about a hundred and fifty thousand
37
00:03:01.520 --> 00:03:07.560
troops east, north and south of
Ukraine, sparking Western concerns it is planning
38
00:03:07.599 --> 00:03:10.319
an attack. Moscow denies it has
any such plans and this week said it
39
00:03:10.360 --> 00:03:15.120
was pulling back some forces and weapons, though it gave few details. Beginning
40
00:03:15.120 --> 00:03:20.599
this week, the masks are coming
off for vaccinated visitors to Walt Disney world
41
00:03:20.599 --> 00:03:23.919
in Florida. The theme park resort
announced that face coverings will be optional for
42
00:03:24.080 --> 00:03:30.520
fully vaccinated visitors in all indoor and
outdoor locations, with one exception. Face
43
00:03:30.599 --> 00:03:37.199
masks still will be needed for visitors
aged two and older on enclosed transportation and
44
00:03:37.240 --> 00:03:40.800
the US highway safety regulators are about
to allow new high tech headlights that can
45
00:03:40.840 --> 00:03:46.120
automatically tailor beams so they focus on
dark areas of the road and don't create
46
00:03:46.240 --> 00:03:52.680
glare for oncoming drivers. The National
Highway Traffic Safety Administration says it issued a
47
00:03:52.759 --> 00:03:58.400
final rule allowing what's called adaptive driving
beam headlights on new vehicles. It will
48
00:03:58.439 --> 00:04:01.639
go into effect when published in Federal
Register in the next few days. The
49
00:04:01.719 --> 00:04:08.000
headlights commonly used in Europe have led
lamps that can focus beams on darkness such
50
00:04:08.039 --> 00:04:12.960
as the driver's lane and areas along
the roadside. They also lower the intensity
51
00:04:13.000 --> 00:04:17.160
of the light beams if there's oncoming
traffic. Camera sensors and computers helped determine
52
00:04:17.160 --> 00:04:21.360
where the light should go. In
other news, the tenure treasury yield climbed
53
00:04:21.399 --> 00:04:26.959
to its highest level in two years
Tuesday. Data released Tuesday also showed that
54
00:04:27.079 --> 00:04:31.639
US hostale prices jump one percent in
January. The New York feds empire manufacturing
55
00:04:31.680 --> 00:04:36.879
index was barely positive at three point
one in February. The Biden Administration is
56
00:04:36.879 --> 00:04:42.879
telling Congress that it needs an additional
thirty billion dollars for covid nineteen protection and
57
00:04:42.959 --> 00:04:47.560
detection programs. According to the Committee
for Responsible Federal Budget, Congress has already
58
00:04:47.600 --> 00:04:53.600
approved nearly six trillion dollars to deal
with the pandemic. Republicans on the Senate
59
00:04:53.600 --> 00:04:58.319
Banking Committee declined to show up Tuesday
for votes on President Biden's nominees to the
60
00:04:58.319 --> 00:05:02.160
Federal Reserve over their objection into Sarah
Bloom Raskin. One of the choices is
61
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delays the confirmation of Fed shared Jerome
Powell to his second for your term.
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Investors poured a record amount of money
into apartments across the country. In one
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nearly a quarter of the three hundred
and thirty five billion dollars invested went to
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just four metro areas in the sun
belt, Dallas, Atlanta, Phoenix and
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Houston. Prices to ship goods from
Canada to the US on the spot market
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for standard heavy duty trucks jumped over
from January second to February five. According
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to Truck Stop Dot Com, the
rate for refrigerated trucks rose by a third
68
00:05:35.399 --> 00:05:40.879
over that period. Rate increases to
ship goods from the US to Canada rose
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00:05:40.920 --> 00:05:45.480
by more than twenty during the period. Bio N Tech, the German biotech
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company that, with Fiser, developed
the first Western covid nineteen shot, unveiled
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mobile vaccine production units that it aims
to deploy across Africa and other regions that
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have had limited access to supplies.
The modular factories are encased in shipping can
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tainers. Coin base is expanding its
global payments business by launching a cryptocurrency remittance
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pilot program in Mexico. The crypto
exchange platform has partnered with remittly global to
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00:06:11.639 --> 00:06:15.800
allow US customers to send cryptocurrencies to
recipients in Mexico, who will immediately be
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able to cash out their crypto holdings
in their local currency. AIRBNB said its
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business has almost fully recovered from the
effects of covid nineteen. AIRBNB shares advanced
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eight percent in the extended session Tuesday. Marriott International said its workforce has declined
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over thirty in the last two years. Higher Commodity prices and higher than expected
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00:06:36.959 --> 00:06:42.639
production volumes drove devon energy to a
profit for the most recent quarter and year.
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Operating cash flow was the highest level
in the company's history. Beer maker
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00:06:46.480 --> 00:06:51.399
Heineken reported better than expected performance for
twenty one, but warned that price of
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00:06:51.560 --> 00:06:59.000
inputs will rise in two as inflation
continues to mount roadblocks. Shares dropped fifteen
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00:06:59.000 --> 00:07:03.199
percent after hours Tuesday as the Social
Gaming Platform reported quarterly results that fell short
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of Wall Street expectations. Shares of
toast fell more than ten percent in the
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00:07:08.560 --> 00:07:14.439
extended session Tuesday after the restaurant focused
payments company reported a mixed quarter. Akamai
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00:07:14.560 --> 00:07:19.120
technologies announced an agreement to acquire lenote, a Philadelphia based cloud hosting company,
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00:07:19.199 --> 00:07:25.079
for nine million dollars in cash.
Shares of lazy boy drop more than eight
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00:07:25.079 --> 00:07:30.480
percent in the extended session Tuesday after
the furniture maker reported missed mixed fiscal third
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quarter results, citing production issues.
Amid high demand for its furniture items,
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00:07:34.120 --> 00:07:40.519
it should include its recliners. Seaworld
entertainment software to acquire a seater fair has
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00:07:40.560 --> 00:07:46.319
been rejected. Shares of upstart holdings
surged more than and after hours trading Tuesday.
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00:07:46.600 --> 00:07:50.800
The Financial Technology Company reported results that
topped expectations and announced a new share
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00:07:50.839 --> 00:07:57.720
purchase program Sonic Automotive reported a record
fourth quarter profit that beat expectations by a
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00:07:57.759 --> 00:08:01.600
wide margin and more than doubled its
divid end, while same store sales of
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00:08:01.680 --> 00:08:07.279
new and used vehicles fell. Tobacco
giant Altria said that an administrative law judge
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00:08:07.279 --> 00:08:11.680
has dismissed a federal lawsuit alleging the
company's partnership with e cigarette maker Jewel labs
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00:08:11.879 --> 00:08:18.160
amounted to an anti competitive agreement that
hurt consumers. Casino operator win resorts posted
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00:08:18.160 --> 00:08:22.959
an adjusted fourth quarter loss that was
wider than analysts estimates, and the stock
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00:08:22.000 --> 00:08:26.199
fell in pre market trading. Forts
Askew medals reported a more than thirty percent
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00:08:26.240 --> 00:08:31.759
fall in first half net profit because
of higher operating costs and weaker prices for
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00:08:31.800 --> 00:08:35.440
the iron ore that it produces.
Federal safety regulators so that they will retain
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00:08:35.480 --> 00:08:39.919
power to approve Boeing seven eight seven
airliners for flight, rather than return that
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authority to the aircraft maker, which
hasn't been able to deliver any new dreamliner
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00:08:45.320 --> 00:08:50.200
plane since last May because of production
flaws. Shares of Anderson's rose six and
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00:08:50.200 --> 00:08:54.919
a half percent post market after the
exceeding Wall Street estimates for fourth quarter earnings
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00:08:54.919 --> 00:09:00.639
and revenue, as agricultural fundamentals were
strong. CF industries reported fire sales and
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00:09:00.720 --> 00:09:03.799
net earnings in the fourth quarter as
prices were lifted by strong global demand and
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00:09:03.919 --> 00:09:11.120
higher energy costs. CF industries makes
hydrogen and nitrogen products. Aluminum hovered near
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00:09:11.159 --> 00:09:16.159
its highest price since two thousand and
eight shortages of Avocados in the US are
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00:09:16.159 --> 00:09:20.600
already showing up in the supply chain
after a suspension of imports from Mexico.
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00:09:20.759 --> 00:09:24.159
Mexico accounts for about eight percent of
the US market. The super bowl got
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00:09:24.159 --> 00:09:28.399
a massive ratings rebound on Sunday.
The game between the Los Angeles Rams and
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00:09:28.440 --> 00:09:35.200
the Cincinnati bengals delivered over one hundred
and twelve million viewers across NBC, NFL
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00:09:35.240 --> 00:09:39.679
and Yahoo Platforms. That's a four
from last year. And a rare gilded
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00:09:39.720 --> 00:09:45.159
age mansion in Daryanne, Connecticut,
has hit the market for one hundred million
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00:09:45.200 --> 00:09:48.759
dollars. Known as the Great Island
for its location on sixty acres of private
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00:09:48.840 --> 00:09:54.279
land, the property offers over a
mile of shoreline on long island sound.
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00:09:54.559 --> 00:09:58.759
Great Island is considered the largest private
island ever to be offered for sale on
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00:09:58.840 --> 00:10:01.919
the East Coast. The property was
built in nineteen o two and then purchased
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00:10:01.919 --> 00:10:07.279
by Baking Powder Entrepreneur William Ziegler.
It has remained in the Ziegler family ever
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00:10:07.360 --> 00:10:13.600
since, and the former House and
surrounding gardens of former South African President Nelson
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00:10:13.639 --> 00:10:18.600
Mandela is now accepting reservations after being
transformed into an inn. And more than
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00:10:18.679 --> 00:10:24.240
one hundred passengers were stranded for hours
on an Amtrak train that's stalled in New
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00:10:24.320 --> 00:10:28.200
York City following a power loss.
Monday. For nearly seven hours, a
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00:10:28.279 --> 00:10:33.080
hundred and six passengers and crew members
were stuck on Amtrak's seller train, which
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00:10:33.159 --> 00:10:37.080
was traveling from Boston to Washington D
C. At seven am. Equity futures
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00:10:37.080 --> 00:10:41.399
are slightly lower. SMP five hundred
futures, Nasdaq one hundred futures and Dow
129
00:10:41.519 --> 00:10:46.039
futures are down about two tenths of
a percent. The yield on the tenure
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00:10:46.039 --> 00:10:50.320
Treasury is two point Oh three percent. Oil Trades at ninety four dollars a
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00:10:50.399 --> 00:10:54.879
barrel. Bitcoin is forty four thousand
dollars, while gold trades at eighteen hundred
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00:10:54.960 --> 00:10:58.799
and fifty six dollars. An ounced
coming up American International Group, Boston B
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00:11:00.240 --> 00:11:05.440
Cisco Systems, crocs, Equinox,
GENERAC Holdings, Hilton worldwide, marathon oil
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00:11:05.600 --> 00:11:11.600
and video. Pioneer Natural Resources Synopsis
and Vulcan Materials are set to report results.
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00:11:11.919 --> 00:11:16.639
The National Association of Home Builders releases
its housing market index for February and
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00:11:16.759 --> 00:11:22.000
the Census Bureau reports retail sales spending
for January. Thanks for listening and have
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00:11:22.080 --> 00:11:30.720
a successful day. That concludes today's
Wall Street breakfast. Thank you for listening.
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00:11:30.879 --> 00:11:33.840
For the best news and analysis on
the web, go to seeking Alpha
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00:11:33.960 --> 00:11:37.639
Dot Com. To subscribe to this
podcast, go to apple podcasts, Google
140
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141
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