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Together with Carbon Finance:

Market Headlines 👀 

• Amazon (AMZN) is investing over $10b in data centers in Saudi Arabia.

• Apple (AAPL) is being sued by the EU for $1.95 over a music streaming issue.

• OpenAI is being sued by Elon Musk, as he believes the firm has abandoned vision it set out for.

• Reddit is gearing up for its IPO and now seeking up to a $6.5b valuation.

• Super Micro Computer (SMCI) it was announced on Friday the company is all set to join the S&P 500 later this month.

• Anthropic Open AI competitor, debuted a new chatbot and AI model today called Claude 3

Earnings 💸

• SeaLimited (SE)

  • EPS: $-0.19 beats (exp. $-0.27)

  • Revenue: $3.6b beats (exp. $3.57b)

• Gitlab (GTLB)

  • EPS: $0.15 beats (exp. $0.08)

  • Revenue: $163.8m beats (exp. $157.89m)

• Stitch Fix (SFIX)

  • EPS: $-0.29 misses (exp. $-0.20)

  • Revenue: $330.4m misses (exp. $330.85m)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

According to Factset, aggregate net margin for S&P 500 has dropped to 11.8%. Apart from high margin tech and pharma, fewer companies are enjoying higher profitability. (Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Market Preview 🎞️

• Tuesday, March 5th: ISM Services index; durable goods; factory orders

• Tuesday earnings: Crowdstrike (CRWD), ChargePoint (CHPT), and Target (TGT)

• Wednesday, March 6th: MBA mortgage applications; Jerome Powell begins 2 day testimony in front of Senate (bi-annual meeting); ADP employment data; JOLTs job openings; Fed beige book

• Wednesday earnings: JD.com (JD), Victoria Secret (VSCO), and FootLocker (FL)

• Thursday, March 7th: Weekly jobless claims; Challenger job cuts

• Thursday earnings: Costco (COST), Broadcomm (AVGO), MongoDb (MDB), Docusign (DOCU), and Marvell (MRVL)

• Friday, March 8th: US employment report

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That’s all for today, folks! We’ll be back around the same time Thursday with a curated list of important news, economic data and market highlights. 

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