Jumia Technologies (NYSE:JMIA) Stock: Africa’s Up and Coming E-commerce Startup. Ex-Google exec sent to prison for stealing robocar secrets. BMW reports loss for 2nd quarter but sees rebound in China.
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The Early Bird Newsletter

Wednesday, August 5th

S and P pricesDow pricesQQQ prices
Good Morning

The equity markets were able to tread water for a second day on Tuesday and managed to set a new high in the process. The S&P 500 hovered between gains and losses most of the day, trading in a very tight range, before moving higher at the end of the session. Despite the smallness of the move, the S&P gained only 0.36%, the technical implications for the market is very bullish. The S&P 500 is poised to set a new all-time high, all we need now is a catalyst.

The July non-farm payroll report could be it. The NFP is expected to show a net increase in job creation but there is a risk the figure will miss expectations. Consistently high numbers of initial jobless claims are only one reason for the market to fear. Regardless, with the S&P 500 trading at fresh highs and above previous resistance there is more risk of the market higher than not. Earnings in the second quarter and outlook for the year have been much better than expected and could easily drive the index higher over the coming weeks.

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Markets

Jumia Technologies (NYSE:JMIA) Stock: Africa’s Up and Coming E-commerce Startup

Jumia Technologies (NYSE:JMIA) is the perfect example of one of the companies that have been seeing a lot of speculative activity in recent weeks. It’s a business that provides an e-commerce platform in Africa’s largest countries,

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Tech

Ex-Google exec sent to prison for stealing robocar secrets

A former Google engineer has been sentenced to 18 months in prison after pleading guilty to stealing trade secrets before joining Uber's effort to build robotic vehicles for its ride-hailing service. The sentence handed down Tuesday by U.S. District Judge William Alsup came more than...

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Markets

BMW reports loss for 2nd quarter but sees rebound in China

German automaker BMW lost 212 million euros ($250 million) in the second quarter as the coronavirus pandemic shutdowns cut vehicle sales by a quarter in the April-June period. The company saw a rebound in China, its biggest market. The net loss compared with a profit of 1.48 billion e...

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Markets

Japan's Honda reports loss in April-June as virus hits sales

Japanese automaker Honda reported Wednesday that it sank into the red for the April-June quarter, as its sales plunged due to the coronavirus pandemic, especially in the U.S., Japan and India. Honda Motor Co. racked up an 80.8 billion yen ($765 million) fiscal first quarter loss, a r...

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Markets

Virgin Australia plans to shed staff under new US owners

Virgin Australia plans to scale down its operations under new U.S. owners and shed a third of its staff as the carrier adjusts to the pandemic, the nation’s second-largest airline said on Wednesday. The Brisbane-based company in April became the world’s largest airline to seek bankrup...

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Politics

The Latest: Japan governor touts gargling product for virus

A governor in Japan is drawing skeptical criticism after he touted a gargling product as effective against the coronavirus, an assertion that, despite its dubiousness, emptied some store shelves of the medicine

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Markets

Upwork Inc (NASDAQ:UPWK) Is A Work-At-Home Win You Should Avoid

Upwork Is The Gateway To Work-At-Home Upwork Inc (NASDAQ:UPWK) is a company close to my heart. It was only what, 10 years ago I began my journey as a financial blogger and my first big breaks came through Upwork. Over the last decade, I have used the site almost daily, weekly for sure, earning a de...

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Markets

Newell Brands (NYSE: NWL) Stock an Overlooked Pandemic Value Play

Consumer and commercial products maker Newell Brands (NYSE: NWL) shares have been trading below its pre-pandemic levels and underperforming the benchmark S&P 500 index (NYSEARCA: SPY). As a consumer products play, the market may be underpricing this stock. While the reaction to the Q2 fiscal 202...

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Markets

What's Shaking at Shake Shack (NYSE:SHAK)?

Like many upstart restaurant chains, the COVID-19 pandemic has put a wrench in Shake Shack's (NYSE:SHAK) growth trajectory. Once a stock market darling for its rapid expansion and sales growth, the share price has been cut in half since climbing to a September 2019 peak above $105. Investors have...

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The Early Bird Stock Of The Day

Genuine Parts

Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals. It also distributes industrial replacement parts and related supplies, such as bearings, mechanical and electrical power transmission products, industrial automation products, hoses, hydraulic and pneumatic components, industrial and safety supplies, and material handling products for original equipment manufacturer, as well as maintenance, repair, and operation customers in equipment and machinery, food and beverage, forest product, primary metal, pulp and paper, mining, automotive, oil and gas, petrochemical, pharmaceutical, power generation, alternative energy, transportation, ports, and other industries, as well as for governments. In addition, the company provides a range of services and repairs comprising gearbox and fluid power assembly repair, process pump assembly and repair, hydraulic drive shaft repair, electrical panel assembly and repair, hose and gasket manufacture and assembly, and other services. Further, it distributes office furniture, technology products, general office and school supplies, cleaning, janitorial and breakroom supplies, safety and security items, healthcare products, and disposable food service products to resellers. The company was founded in 1928 and is headquartered in Atlanta, Georgia.

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