Slow Crawl
By Fri, Sep 18, 2020
Hey Scoopers,
The economy’s recovery proved to be a slow-crawl and didn’t excite investors. — More on that in the “Overall Market” section.
Beyond the overall market, one stock resumed its dividends program, while another stock’s temporary excellence didn’t impress investors. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, the so-called subscription fatigue may be catching up with subscription-TV and video-streaming. — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
Market Recap
- U.S. markets: All three indices unanimously finished Thursday in the red. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price didn’t hold above the $11,000 mark on Thursday.
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A Recovery Crawl
The recovery in the earlier parts of the week didn’t last, and all three induced ended Thursday in the red. The new jobless claims came about 900K once more. The chatter is that the recovery is on the way but slower than what investors had hoped.
Dividends Are Back
So, what happened?
Shares of Herman Miller (Ticker: MLHR) were up more than 33% on Thursday. This is a $1.5 billion company that manufactures and distributes interior furnishings across the globe. The company announced its quarterly earnings report on Thursday and shared the news that its dividend program has resumed. Investors greedily celebrated the news because resuming dividends means the company feels strong enough about its future earnings to bring back dividends.
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Temporary Excellence
So, what happened?
Shares of FedEx (Ticker: FDX) were down by more than 2% on Thursday. The company announced its latest quarterly earnings report on Thursday. The decline is surpassing. Revenue, margins, and earnings per share were all higher than the same time last year. The company refrained from providing any guidance, like many other companies. Overall, this quarter, FedEx nailed it. However, the chatter was that it’s time to take profit because its excellent performance is temporarily driven by the pandemic and not organic.
Subscription Fatigue?
So what happened?
The decline in Netflix’s (Ticker: NFLX) stock price has made investors looking into alternatives to subscription-based TV. There is a general, subtle, and slow subscription fatigue that is taking over the market. Companies such as Chicken Soup for the Soul Entertainment (Ticker: CSSE) are gaining momentum, and their primary focus is on ad-supported TV and video-streaming. This is a general trend worth watching as you look into the future of entertainment.
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Disclosure: Authors of this Scoop own shares of Netflix (Ticker: NFLX) and Chicken Soup for the Soul Entertainment (Ticker: CSSE).
About the Author
The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card
