Upgrades Keep eBay Afloat In A Sea of Red. Apple, AT&T, Jack Daniel's: Fed issues details on bond buys. Starbucks latest to say it will pause social media ads.
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The Early Bird Newsletter

Monday, June 29th

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Good Morning

Equity markets reversed Thursday’s gains on a double-dose of bad news. First, the Federal Reserve stress tests of the U.S. banking system came up wanting. That means, despite the appearance of sufficient capitalization, the banks are at risk in the current environment. What it means for the equities market is no more share buybacks or dividend increases from the banking sector this year.

The second bit of bad news comes from Texas. The Lone Star State rolled-back its reopening plans, reinstating social-distancing lockdown measures, as the number of new cases skyrockets. The risk for markets now is that more states will do the same. The news was not all bad however, shares of discount retailer Big Lots surged nearly 30% after the company raised its full-year guidance to a range well above consensus. Next week, investors will be on alert for the June payrolls report, a figure that could make or break the market.



Upgrades Keep eBay Afloat In A Sea of Red

By the time the bell rang to end Friday’s session, many on Wall Street were heading into the weekend with a growing sense of concern at the surge in COVID-19 cases and a faltering recovery in equities. It wasn’t all doom and gloom though, with investors of original online marketplace eBa...

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Apple, AT&T, Jack Daniel's: Fed issues details on bond buys

The Federal Reserve has released a list of roughly 750 companies, including Apple, Walmart and ExxonMobil, whose corporate bonds it will purchase in the coming months in an effort to keep borrowing costs low and smooth the flow of credit

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Starbucks latest to say it will pause social media ads

Starbucks is the latest company to say it will pause social media ads after a campaign led by civil rights organizations called for an ad boycott of Facebook, saying it doesn’t do enough to stop racist and violent content

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Fracking pioneer Chesapeake files for bankruptcy protection

Chesapeake Energy, a shale drilling pioneer that helped to turn the United States into a global energy powerhouse, has filed for bankruptcy protection. The Oklahoma City-based company said Sunday that it was a necessary decision given its debt. Its debt load is currently nearing $9 b...

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Micron Technology On Watch Ahead Of Earnings

Micron Will Beat Consensus, But By How Much? Micron Technology (NASDAQ:MU) is slated to report after the closing of trading today. The analysts are expecting a mixed report in which revenue grows double-digits while EPS falls nearly 28%. Based on history there is a very high likelihood Micron will ...

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Russian nickel producer admits pollution in Arctic tundra

A Russian metallurgical company said Sunday that it improperly pumped wastewater into the Arctic tundra and that it has suspended the responsible employees. The statement from Nornickel is the second time in a month the company has been connected to pollution in the ecologically deli...

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Rolling Stones threaten to sue Trump over using their songs

The Rolling Stones are threatening President Donald Trump with legal action for using their songs at his rallies despite cease-and-desist directives. The Stones said in a statement Sunday that their legal team is working with music rights organization BMI to stop use of their material...

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Why Did Goldman Sachs (NYSE: GS) Fall 8% on Friday?

Coming into the start of June, it looked as though shares of Goldman Sachs (NYSE: GS) were on track to undo all of Q1’s damage and retake their 2020 highs by the middle or end of summer. After Thursday’s news and Friday’s trading session, it looks like investors might have to wait ...

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Alpha Pro Tech (NYSE: APT) Stock is a “New Normal” Hedge Play

Shares of disposable protective apparel maker Alpha Pro Tech, Inc. (NYSE: APT) have been a rollercoaster ride since being discovered as a direct COVID-19 beneficiary. The maker of disposable face masks and protective infection control gear has seen unprecedented growth from the global pandemic. Shar...

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The Early Bird Stock Of The Day



CGI Inc., together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company also offers application development, management, testing, portfolio management, and modernization services; business consulting, including agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific services; and a suite of business process services designed to address the needs of specific industries, as well as IT infrastructure consulting, solutions, and services. It serves clients operating in government, financial services, health, utility, communication, oil and gas, manufacturing, retail and consumer service, transportation, and post and logistics sectors. The company was formerly known as CGI Group Inc. and changed its name to CGI Inc. in January 2019. CGI Inc. was founded in 1976 and is headquartered in Montreal, Canada.

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