8 stories we are following this am.
1. China’s Export Orders Plunge, Hit by Trump’s Trade War. The Wall Street Journal. The impact of the trade situation with China is really interesting to watch.
“China’s economy showed its first big signs of damage from the trade war, as steep U.S. tariffs pummeled export orders and production at the country’s factories.”
2. Starbucks is down more than 7% pre market.
“US comparable store sales — a closely watched metric that includes results from stores open for more than a year — fell for the fifth consecutive quarter, sinking 2% as consumers sought cheaper alternatives at rivals such as Dunkin’ and McDonald’s (MCD).” Yahoo Finance.
3. Snap Inc. is down more than 13% pre market. The company met earnings for this past quarter but said it would not issue guidance for the next quarter and that its facing headwinds. Deciding to not issue guidance always scares investors.
4. Hims & Hers jumped 23% yesterday. Hims & Hers signed a deal for distribution with Novo Nordisk. Novo Nordisk has fallen behind Eli Lilly and Company.
“The Danish drugmaker is expanding Wegovy access via telehealth providers like Hims and Ro. But the gap with Eli Lilly is only getting wider.” The Wall Street Journal.
5. The markets rose yesterday but futures point down early today.
6. M and A activity in the United States was down in the first quarter.
7. Amazon is down nearly 15% year to date. Palantir Technologies remains hot and is up 53% year to date.
8. Hertz dropped 13% yesterday as it announced plans to again tap the debt market. It already has $6 billion in debt and is going to tap the markets for another $500 million. The company issued $500 million in high yield debt this past December.