Morning Brief: S&P books best January since 1987, jobs report on deck

S&P 500 posts best January since 1987The S&P 500 posted its best start to the year in more than 30 years as strong earnings results from major names buoyed stock prices. The S&P 500 (^GSPC) rose 0.86%, or 23.05 points, as of market close. The index advanced about 7.9% for the month, logging the best January since 1987. [Yahoo Finance]

Amazon earnings beat, guidance disappoints: Amazon (AMZN) reported strong fourth-quarter results, with earnings smashing expectations and revenue also stronger than expected. But first-quarter guidance came in a bit light of estimates. EPS came in at $6.04 on revenue of $72.4 billion, compared to expectations of $5.65 per share on $71.61 billion in revenue. This represents a 20% increase in revenue from a year ago, but it’s at the slowest pace in three years. [Yahoo Finance]

Read also

Amazon’s earnings announcement had one big negative number [Yahoo Finance]

New owner of the ‘POT’ stock ticker symbol: Canadian cannabis company Weekend Unlimited, currently trading under the stock ticker symbol “YOLO” on the Canadian Stock Exchange, announced that it’s the winner in the lottery for the ticker POT. [Yahoo Finance]

Chinese Starbucks rival Luckin Coffee preps U.S. IPO: Luckin Coffee, the ambitious Chinese startup rolling out thousands of stores to take on Starbucks Corp., is beginning preparations for a U.S. initial public offering that could raise around $300 million, people with knowledge of the matter said. [Bloomberg]

Alibaba makes a huge play to bring Chinese movies to America: Alibaba may not have a meaningful retail presence in the U.S., but the Chinese e-commerce powerhouse is finding other channels to enter the American market. Alibaba’s film division is teaming up with media company STX Entertainment to bring a highly anticipated movie to U.S. theaters. [Yahoo Finance]

Leave a Reply

Your email address will not be published. Required fields are marked *