BY NUMBERS
US futures rose on Tuesday, adding to Friday’s record closings for the Dow Jones industrial average, the S&P 500 and the Nasdaq. The US stock exchange closed on Monday for Presidents’ Day. All three stock benchmarks ended above last week, in a February follow-up. For the year, at the close on Friday, the Dow, S&P 500 and Nasdaq rose by almost 2.8%, 4.8% and 9.4%, respectively. (CNBC)
The 30-year Treasury yield remained above 2% early Tuesday as investors watched progress on President Joe Biden’s $ 1.9 trillion stimulus package on Capitol Hill and the push for a wider distribution of coronavirus vaccines. in the US 10-year treasury yields rose to more than 1.26%. (CNBC)
Bitcoin hit a new record high on Tuesday, surpassing $ 50,000 per unit for the first time, before comparing some of those gains. Major companies announced support for digital currencies last week. Bitcoin has more than quadrupled in 2020 and has grown by more than 60% this year. (CNBC)
* MicroStrategy shares rise as company unveils plans to sell convertible debt to buy more bitcoin (CNBC)
IN TODAY’S NEWS
More than 3.8 million households in Texas were in the dark on Tuesday morning as record low temperatures increased the demand for heat that pushed the state’s power grid to its limits. There were interruptions in Texas, typical of hot summer days. The cold weather was part of a massive winter explosion that brought snow, sleet and icy rain to the southern plains, over parts of the Ohio Valley and northeast. (AP)
The lack of electricity has been so great that wholesale spot electricity prices on the Texas electricity grid have risen by more than 10,000% in months. In the long run, natural gas increased by more than 6% on Tuesday morning. However, RBC analysts said: “Certain regional on-site gas prices have risen 10 to 100 times in a few days.” US oil prices also rose to a pandemic of more than $ 60 a barrel, while drilling and refineries closed due to the cold. (CNBC and Reuters)
House Speaker Nancy Pelosi said Monday that Congress will set up an independent 11/11-style commission to look into last month’s deadly insurrection in the U.S. chapter. Investigations into the riot were already planned, with Senate hearings scheduled for this month in the Rules Committee. (CNBC)
* Senate GOP leader McConnell opined: acquittal justified constitution, not Trump (WSJ)
* Parler social networking platform back on “independent technology” (Reuters)
* New York prosecutors investigating Trump’s properties in Manhattan (WSJ)
Trying to get past Trump’s acquittal in last week’s indictment process, Biden is set to make his first internal presidential trips, starting Tuesday with a CNN Wisconsin City Hall and a tour of a Covf Pfizer (PFE) vaccination facility. ) from Michigan on Thursday. (AP)
* Israeli study finds 94% decrease in symptomatic Covid-19 cases with Pfizer vaccine (Reuters)
* Covid syndrome in children is on the rise and cases are more severe (NY Times)
Marriott International (MAR) announced on Tuesday the death of its CEO Arne Sorenson, who was undergoing treatment for pancreatic cancer. Two weeks ago, Marriott said Sorenson would temporarily reduce its schedule to facilitate more demanding treatment. became the third CEO in Marriott history in 2012 and the first without a Marriott surname (CNBC and press release)
VIEWING STOCKS
CVS Health (CVS): The pharmacy company reported quarterly earnings of $ 1.30 per share, 6 cents above estimates. Revenues also exceeded Wall Street forecasts, helped in part by Covid-19 testing and vaccinations at its locations.
Palantir Technologies (PLTR): The business analytics company’s stock fell 6.2% in the premarket after reporting a quarterly loss, although revenues made higher street estimates for new contracts.
AutoNation (AN): The car retailer exceeded estimates by 42 cents per share, with a quarterly profit of $ 2.43 per share. Revenues also exceeded estimates, as demand remains high against limited stocks. AutoNation has announced the addition of $ 1 billion to its share buyback program.
Constellation Brands (STZ): Brewer AB InBev (BUD) is suing Constellation for using the Corona brand name for its hard seltzer. AB InBev claims that a 2013 transaction between the two involving the brand name did not allow Constellation to use it for products other than beer.
CoreLogic (CLGX): CoStar Group (CSGP) has submitted a new bid to acquire rival real estate data provider CoreLogic for $ 95.76 per share, following the February 4 CoreLogic agreement to be acquired by private equity firms Stone Capital and Insight Partners for $ 80 per share in cash.
Southwest (LUV): The airline said it continues to have a significant year-over-year impact on passenger demand due to Covid-19, although it said it expects an improvement from February to March.
Progressive (PGR): The insurer has entered into an agreement to purchase Protection Insurance (PTVCB) for $ 23.30 per share in cash, compared to Friday’s closing of $ 15.01 per share. Protective actions increased by about 47% in premarket trading.
Apple (AAPL): Automaker Nissan has said it is not in talks with Apple about a possible joint venture. A report in the Financial Times said the two companies were briefly discussing the issue, but those talks faltered.
Toyota Motor (TM): The carmaker will suspend production at nine factories in Japan following an earthquake that hit the northeastern region of Japan last week. Toyota did not specify the impact on production.
Facebook (FB): Facebook is designing a smartwatch that has messaging features, as well as providing health and fitness information, according to the technology site The Information, which quotes people familiar with the problem. Sales of the device will begin next year, according to the report.
Nvidia (NVDA): The FTC has opened an investigation into the graphics chip maker’s business to buy Britain’s chip maker Arm Holdings for $ 40 billion. The agreement has been the subject of protests against regulators by Alphabet (GOOGL), Qualcomm (QCOM) and Microsoft (MSFT).
Bristol-Myers Squibb (BMY): Bristol and French partner Sanofi (SNY) will pay Hawaii more than $ 834 million in a case involving Plavix blood thinner. The state accused the drug manufacturers of failing to warn non-white patients about the risks associated with the drug. Bristol and Sanofi said the verdict was inconsistent with the evidence and vowed to appeal.
Cintas (CTAS): The uniform and construction services provider offered a better-than-expected earnings outlook in the current quarter, saying it now has a clearer picture of the impact of Covid-19 on its business and that its balance sheet remains solid .