💵 Earnings (HP, Lululemon, & Ulta Beauty)

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Good morning investors! U.S. stocks were lower on Thursday as investors awaited Friday’s big jobs report. Even BTC retreated falling under $100K.

Today we cover:

• OPEC+ delays output increase

• Earnings are here (HP, Lululemon, & Ulta Beauty)

• A look at crypto stocks

📊 Economy and News 

OPEC+ Delays Output Increase Amid Weak Global Demand and Geopolitical Uncertainty

Eight members of the OPEC+ oil producers’ alliance will postpone plans to unwind a voluntary 2.2-million-barrels-per-day output cut until April 2025, amid a lukewarm outlook for global demand. Despite these sets of production trims and ongoing conflict threatening the hydrocarbon-rich Middle Eastern region, global oil prices have remained subdued for the better part of this year, under pressure from a tepid demand outlook.

Adding to geopolitical uncertainty is the imminent White House return of President-elect Donald Trump — who has led his electoral campaign on pledges to further unleash the output of the world’s largest oil producer.

While we talk about this, let us also mention that Shell and Equinor are preparing to create Britain’s largest independent oil and gas company in joint venture.

Global hits:

• Denmark raises 2025 GDP outlook, benefits from Novo Nordisk's growth.

• Fall of government leaves France without clear path on cutting deficit -S&P.

• Senior housing market sees modest gains, high costs.

Good to know: American malls are transforming into mixed-use spaces as developers replace shuttered department stores with apartment buildings. By January 2022, 192 malls planned housing additions, with 33 already completed since the pandemic. States like California, Florida, Arizona, and Texas are leading the charge with ongoing projects. This trend addresses the U.S. housing shortage while bringing residents closer to shopping and dining options.

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The $100 Trillion Opportunity in AI?

The rise of AI is shaping up to be bigger than any financial trend we’ve seen before. According to seasoned investor James Altucher, this next-gen AI revolution could create a $100 TRILLION industry, and early investors could stand to benefit. He’s even laid out how a $10K investment might turn into $1 million over the coming years. Want to see the details?

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📈 Stocks

S&P 500 6,075.11 (-0.19%)
DJIA 44,765.71 (-0.55%)
NASDAQ 19,700.26 (-0.18%)
BRENT CRUDE 72.27 (-0.05%)
* Prices as of Mar 3rd, 12:20 AM UTC

Ulta Beauty, Lululemon, and HP announce earnings

Ulta Beauty surpassed Wall Street’s fiscal Q3 expectations, easing concerns about rising competition and slowing demand. The retailer raised its full-year outlook, now projecting net sales of $11.1 billion to $11.2 billion and earnings per share between $23.20 and $23.75, up from prior estimates.

For Q3, Ulta reported earnings per share of $5.14 (vs. $4.54 expected) and revenue of $2.53 billion (vs. $2.50 billion expected). CEO Dave Kimbell expressed pride in the company’s progress and optimism about its strengthened market position. Ulta shares surged +10% in after-hours trading.

Lululemon’s U.S. growth slowed, but strong international gains drove a 9% year-over-year sales increase. The company exceeded Wall Street’s Q3 expectations, reporting earnings per share of $2.87 (vs. $2.69 expected) and revenue of $2.40 billion (vs. $2.36 billion expected).

Net income for the quarter ended Oct. 27 rose to $352 million, compared to $249 million a year ago. For the holiday quarter, Lululemon forecasts revenue of $3.48 billion to $3.51 billion, aligning with analysts' estimates, and expects earnings per share of $5.56 to $5.64.

For fiscal 2024, it slightly raised revenue guidance to $10.45 billion to $10.49 billion. Shares climbed +8% in after-hours trading.

Hewlett Packard Enterprise exceeded Wall Street’s expectations for Q4 revenue and it’s profit on Thursday, driven by strong demand for its AI-powered servers. Shares rose by 1.5% in after-hours trading.

HPE’s servers, featuring Nvidia (NASDAQ:NVDA) processors, are in high demand as businesses invest in hardware to handle AI data processing. Despite a decline in its Intelligent Edge business, which saw a 20% revenue drop to $1.12 billion, HPE remains focused on expanding its networking market share through its recent acquisition of Juniper Networks (NYSE:JNPR).

HPE's total Q4 revenue reached $8.46 billion, surpassing estimates of $8.26 billion, with server revenue up 32% to $4.71 billion. For Q1, the company expects mid-teens percentage growth in revenue, in line with analyst expectations.

Worth knowing: Court rejects Boeing plea deal tied to 737 Max crashes. Also, FAA administrator said that Boeing still is not producing MAX planes after strike.

🔐 Crypto

Bitcoin $96,538.32 (-2.25%)
Ether $3,812.7, (-0.86%)
Solana $234.09 (-2.58%)
Total market cap $3.82t (-%)
* Prices as of Sep 3rd, 12:20 AM UTC

Bitcoin Breaks $100K, but Crypto Stocks Struggle

Cryptocurrency-linked stocks reversed big gains Thursday, despite bitcoin surpassing $100,000 overnight (BTC has fallen since). MicroStrategy, often seen as a bitcoin proxy due to its substantial holdings, initially rose over 7% but closed down 4.8%. Riot Platforms and Mara Holdings fell 5% and 4%, respectively, while Coinbase slid 3% and Robinhood dropped 2.7%.

Since 2020, MicroStrategy's bitcoin investments have fueled a staggering 2,700% stock increase, with a 512% surge this year alone. Robinhood has jumped 205%, while Coinbase has climbed 84%. However, Mara Holdings has seen a modest 5% gain.

Traders are also flocking to leveraged MicroStrategy ETFs, high-risk funds amplifying gains—or losses—by using debt, according to a recent JPMorgan report.

💵 Personal Finance

5 best states to buy a house in

A home is a major investment. If you’re looking to buy one, whether to invest or live in, it is important that you pick a state where prices are good and increasing at a decent rate.

Here are some of our best picks:

#1 Pennsylvania

With the average home costing $254,722, Pennsylvania is a great choice to buy a house in. Pennsylvania House Price All-Transactions Index is at a current level of 622.77, up 2.88% from last quarter and 5.85% from one year ago.

#2 North Carolina

The average home in the state costs $323,487, which makes it a little costly but still worth it. Prices have been increasing at the rate of 4.4% per year. The median price has gone from $201,000 to $302,459 in 2023.

#3 Utah

Utah is expensive but in demand. The average home in the state costs $518,806. Still, we think it can be great due to its family-friendly environment and affordability in terms of cost of living. Prices have gone up insanely in the last few years with some areas having an appreciation rate of 16.8%

#4 Kentucky

Those looking for an affordable option can consider Kentucky where the average home value stands at $197.948. Also, prices have been declining in the state. In August 2023, 26.2% of homes in Kentucky sold below list price, down 0.4 points this year. This makes it a good time to invest in the state.

#5 New York

There are few states as interesting as New York where the average home costs $733,845. And while reports suggest that people are looking to move out of New York due to the price factor, we feel it’s still a good investment, especially for people looking to earn rental income. New York rentals average $3,495 for a studio rental to $7,495 for a 4-bedroom rental (main cities). The cumulative appreciation rate for homes over the past ten years stands at 80.72%, making it a great investment.

This doesn’t mean other states are bad. In fact, names like Mississippi, Ohio, and Nebraska often make it to lists that talk about the best states to own a home in.

The key lies in knowing where and when to buy. Check this video for some tips:

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Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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