Phil LeBeau will follow Ford's CEO and CFO Wednesday as they speak at an auto conference. In the last few days, the company announced job cuts and a major electric-vehicle investment. Since Feb. 3, Ford is down nearly 5%. In that period, GM gained 2%, Stellantis added 1.3%, and Tesla jumped 11%.
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A rebound in crypto-linked names |
Now that we know that Citadel built a 5.5% stake in Silvergate Capital, in essence a crypto-focused bank, will it lead to renewed confidence in the industry? Silvergate picked up 18% today, but it is still 90% from the March 2022 high. Bitcoin was up 2.5% today. Marathon Digital was up about 15% today. Shares are off 79% from the March 2022 high. Cleanspark up 11.5% today. Shares are off 76% from the March 2022 high. MicroStrategy up nearly 9% today. Shares are off 48% from the March 2022 high. Riot Platforms up roughly 8% today. Shares are off 75% from the March 2022 high. Coinbase up 4.6% today. Shares are off 72% from the March 2022 high.
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Options activity for Norfolk Southern |
A big surge in options volume today: 1,200% times more than the ten-day average. Norfolk Southern shares have fallen nearly 8% since a terrible Feb. 3 derailment involving chemicals in Ohio. Crews are still working to clean up the mess and contain the damage. CSX is down 3.7% in the same period. Union Pacific is down 4% since Feb. 3.
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An aerospace stock hops to a fresh high |
Howmet Aerospace jumped to a 52-week high today. The stock is up 9% in 2023, and it's gained 26% in a year. The company makes components for the aerospace and defense industries. That's better than the other names in aerospace and defense this year – except for Boeing, which is up 14.7%.
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Three food stocks report Wednesday |
Krispy Kreme is up 18% in 2023. Kraft Heinz is down 2% in 2023. The stock pays a 4% dividend. Boston Beer is up 17% in 2023.
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