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| Big disappointment. The April jobs report showed nonfarm payrolls increased by just 266,000 and the unemployment rate rose to 6.1%, a far cry for estimates for 1 million jobs added and an unemployment rate of 5.8%. “It certainly takes the pressure off the Fed and takes an imminent rate increase off the table,” said JJ Kinahan, chief market strategist at TD Ameritrade. “We’re not going to see inflation in wages, and we don’t have as many people employed as we thought... |
| Avid Technology Inc (NASDAQ: AVID): Avid Technologies shares surged as much as 27% higher yesterday and are up more than 5% this morning after the company reported a 9.2% year-over-year jump in revenue spurred by 78.2% year-over-year subscription revenue growth. “We are encouraged by the continued strength of, and growth in, our Recurring Revenue business during the first quarter... |
ADM’s push to new highs is outpacing its fundamental strengthAs is always the case, you have to be careful about casting your net too wide when it comes to industry or sector-based generalizations. A good example is the Technology sector, which not too surprisingly has led the market’s rally from March 2020 bear market lows. Many of the biggest names in the sector have led the way, and in particular companies that were positioned on the right side of remote workforce, collaboration, and cloud-based services at the onset of the pandemic have clearly b... |
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Featured StockCiti Trends, Inc. (CTRN)Citi Trends, Inc. operates as a value-priced retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories. It also provides accessories and beauty products that include handbags, luggage, hats, belts, sunglasses, jewelry, and watches, as well as undergarments a... |
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