All major market indexes are tracking higher than the last week, edging on 1-2% gains over the 5-day period.
Happy Memorial Day weekend, everyone. Stay safe! Remember that markets are closed on the coming Monday in observance of Memorial Day.
Dow Jones 30: 34,529.45 (0.94%, year-to-date: 12.82%)
S&P 500: 4,204.11 (1.16%, year-to-date: 11.93%)
Nasdaq: 13,748.74 (2.06%, year-to-date: 6.68%)
South Korea is set to receive a million doses of Johnson & Johnson in the coming week, stemming from an initial promise made by President Biden to South Korea in an effort to increase global herd immunity.
No fun allowed
Airbnb's party ban is set to extend until the end of summer. The company first initialized the ban early fall of last year in an effort to combat the pandemic, threatening legal action (yikes), if it finds that guests or hosts violate their guidelines. How they're able to find out is another story.
Facebook announced its amendment to its regulations surrounding info on Covid. With Dr. Fauci noting that the origin of Covid should be investigated (this came from the question of whether or not Covid came from a leak in a lab or from wet markets), Facebook claims it will update its policies as "new facts and trends emerge". Not sure how I feel about the "trends" part 🤔 .
Looking back: Costco (COST)
With the well of future earnings running a little bit on the dry side for the next couple of weeks, let's take a look back at one of our favorites: Costco. Analysts EPS forecast was $2.38 and Costco came up at $2.75 on Thursday's earnings. In other words, Costco did quite well. So how do we justify it ending up -1.47% for the week? There's another intangible "estimate" which gauges a company's performance: investor anticipation. If everyone knows Costco is going to do well, then it should do more than just well to satiate the expectations of the masses. Even so, it's not a knock on Costco for failing to blow out analysts' estimates; they've done well in the e-commerce space, and saw a sizable increase in sales growth.
Annual Top-Line Revenue:
Last 4 Earnings Result (from most recent):
Historical Stock Returns:
It seems like Costco is still holding up strong and operating like a well-oiled machine and it's not because the checkout lines are still aggravatingly long; the numbers up here don't lie.
Who competes with COST?
Costco's competitors are Amazon (AMZN), Target (TGT), and Kroger (KR).
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