IBM, Netflix, Dogecoin, Tesla, 420 - 5 Things You Must Know

Here are five things you must know for Tuesday, April 20:

1. — Stock Futures Fall as Wall Street Weighs Earnings

Stock futures declined Tuesday as Wall Street looked to corporate earnings for indications on the strength of the post-pandemic recovery.

Investors also were monitoring the impact of accelerating COVID-19 infections in Asia and South America.

More than fifteen months in to a global pandemic that has killed more than 3.1 million people, new infections are on the rise in Asia and South America at a startling pace, with India recording the highest death toll on record and Brazil struggling to cope with a daily caseload of more than 3,000 new infections.

Contracts linked to the Dow Jones Industrial Average fell 127 points, S&P 500 futures dropped 14 points and Nasdaq futures were down 45 points.

Stocks declined Monday and the Dow and S&P 500 came off record highs as investors turned their attention to a busy week for earnings. The tech-heavy Nasdaq dropped 0.98%.

Eighty-one of the 500 members in the S&P 500 index are expected to report earnings this week. According to FactSet, Wall Street expects an increase in earnings of more than 24% for companies in the broad market index.

The yield on the 10-year U.S. Treasury rose early Tuesday to 1.626%.

2.– IBM’s Revenue Rise Gets Boost From Cloud Business

IBM was rising 3% in premarket trading Tuesday after posting better-than-expected first-quarter earnings and revenue and reiterating that it expects an increase in 2021 revenue.

Revenue of $17.7 billion rose 1% from a year earlier and topped analysts’ forecasts of $17.3 billion. Total cloud revenue in the quarter jumped 21% to $6.5 billion, while sales at IBM’s cloud and cognitive software unit rose nearly 4% to $5.4 billion.

“Strong performance this quarter in cloud, driven by increasing client adoption of our hybrid cloud platform, and growth in software and consulting enabled us to get off to a solid start for the year,” said CEO Arvind Krishna. “While we have more work to do, we are confident we can achieve full-year revenue growth and meet our adjusted free cash flow target in 2021.”

IBM said it expects adjusted free cash flow for the year of between $11 billion and $12 billion.

Krishna, who assumed the top job at IBM last April, has been pursuing efforts to streamline the company’s operations with a focus on cloud-based computing.

The stock gained 3% to $137.11 in premarket trading.

3. — Tuesday’s Calendar: Netflix and Johnson & Johnson Earnings

Earnings reports are expected Tuesday from Netflix (NFLX) – Get Report, Johnson & Johnson (JNJ) – Get Report, Procter & Gamble (PG) – Get Report, Abbott Labs (ABT) – Get Report, Lockheed Martin (LMT) – Get Report, Travelers Cos. (TRV) – Get Report, CSX (CSX) – Get Report and Philip Morris International (PM) – Get Report.

These Are Netflix’s Must-Know Levels Ahead of Earnings

Abbott Labs is a holding in Jim Cramer’s Action Alerts PLUS member club . Want to be alerted before Jim Cramer buys or sells the stock? Learn more now .

The U.S. economic calendar is light this week until Thursday.

4. — Dogecoin Surges on April 20 or ‘Doge Day’

Dogecoin, the meme-based digital currency with a dog as its logo, was rising more than 10% higher early Tuesday to more than 41 cents and its market cap has pushed past $53 billion.

The hashtag #DogeDay has been trending on Twitter as fans looked to boost its price ahead of “Weed Day” or 4/20 (April 20). Tesla’s (TSLA) – Get Report Elon Musk has been one fan pushing for a Dogecoin record high on Tuesday.

Musk has called Dogecoin “the people’s crypto.” It rose more than 500% last week.

Ahead of 4/20, the marijuana high holiday, shares of the benchmark ETFMG Alternative Harvest ETF (MJ) – Get Report were rising 2.91% to $21.60.

Cannabis Stocks Watchlist: 420 Holiday Brings Focus to Sector

5. — Elon Musk Says Autopilot Wasn’t Enabled in Fatal Tesla Crash

Tesla (TSLA) – Get Report edged lower Monday after CEO Elon Musk said company checks showed a car involved in a fatal crash over the weekend in Texas didn’t have the Autopilot driver assistance system enabled.

Musk tweeted Monday afternoon that “Data logs recovered so far show Autopilot was not enabled & this car did not purchase FSD.”

Transport officials have begun probing the deadly weekend crash involving a Tesla Model S that reports said occurred while there was no driver at the wheel.

The National Highway Traffic Safety Administration investigation follows multiple media reports that suggested the weekend incident in involving a Model S sedan, which took the lives of two passengers following a fiery crash outside of Houston, occurred while the car was operating under autopilot.

Read Full Article

IBM, Netflix, Dogecoin, Tesla, 420 – 5 Things You Must Know

XRP is The Covid of Finance: Gary Cardone

Tether to democratize Bitcoin mining with open-source software debut

Most People Will Never Own a Meaningful Amount of XRP: Analyst

Ethereum’s Realized Price Hints at a Market Reset, What Traders Should Know

Leave a reply Cancel reply

XRP is The Covid of Finance: Gary Cardone

Tether to democratize Bitcoin mining with open-source software debut

Most People Will Never Own a Meaningful Amount of XRP: Analyst

Ethereum’s Realized Price Hints at a Market Reset, What Traders Should Know