📌 No interest in Pinterest

and the strong labor marker

Good morning investors! Bitcoin continues to climb and stocks are also making some noise. All in all, the mood is positive despite some bad earnings.

Today we cover:

  • A look at US jobless claims data

  • Pinterest crashes again.

  • How to fund your child’s education - Part II.

Follow us on Twitter for more.

🔈 Audio version: Apple Podcasts | Spotify | YouTube

📊 Economy and News 

What jobless claims say

The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, despite the large number of layoffs in tthe last few days.

Applications for unemployment benefits fell by 9,000 to 218,000 for the week ending Feb. 3. The four-week average of claims, however, increased by 3,750 to 212,250.

This shows the market is resilient and the momentum from last year may continue into 2024, potentially delaying an anticipated interest rate cut this year.

The strong labor market has forced experts to change expectations and most now see a rate cut in March, and not May.

The news help send the S&P 500 above 5,000 for the first time, but it fell down to close the daybelow 5,000.

Global hits:

Good to know: Arm's post-earnings pop leaves stock trading at over 100% premium to Nvidia. Also, Google is rebranding Bard AI to Gemini with a new app and subscription.

📈 Stocks

S&P 500 4,997.91 (+0.057%)
DJIA 38,726.33 (+0.13%)
NASDAQ 17,783.17 (+0.16%)
BRENT CRUDE 81.71 (-0.02%)
* Prices as of Feb 9th, 12:20 AM UTC

Pinterest crashes (again)

Pinterest (PINS, -.9.4%) missed on sales but beat on earnings in its fourth-quarter earnings report. Here are the numbers:

  • Revenue: $981 million vs. $991 million expected.

  • Earnings: 53 cents per share, adjusted, vs. 51 cents per share expected.

Revenue rose 12% from $877.2 million a year earlier, while net income was $201 million, or 29 cents a share, up from $17.49 million, or 3 cents a share, the previous year.

It’s the second social media company to crash after earnings. Snap did a similar turn but Meta soared after the report, which will put even more pressure on Pinterest to perform.

The company expects year-over-year growth of 15% to 17% and might have a crazy day today.

The stock initially lost 28% after the bell to hit a lot of low of $29.40 before rebounding when the CEO Bill Ready announced a “third-party app integration with Google”.

Somehing about airlines: Spirit Airlines’ narrowed its loss to $184 million in the fourth quarter. The company said that it’s on the path back to profitability, with or without JetBlue.

On the other hand, Delta has plans to open a new tier of ‘premium’ airport lounges this year in high-end travel push. The company has been dealing with overcrowding issue and this new set of lounges could help it attract more travelers.

Lastly, Hawaiian Airlines is rolling out complimentary Wi-Fi via SpaceX’s Starlink onboard commercial flights this week. This will make it the first major US airline company to partner with Starlink.

Another company that remained in the news yesterday is Under Armour. It delivered a mixed quarter marred with slow sales and soft demand in North America.

The athletic apparel retailer cut its full-year sales outlook slightly, but said it expects its profits and gross margin to rise more than it previously did.

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💵 Personal Finance

How to fund your child’s education - Part II

Let’s resume yesterday’s topic and discuss some more ways to fund your child’s education

Look for aid

Fill out the Free Application for Federal Student Aid (FAFSA). It covers a variety of things, including federal grants, school aid, work-study programs, and state aid.

Beware: The FAFSA shows how much one qualifies for, so ensure the letter you receive mentions aid and not a loan.

Consider scholarships

Countries like the US, UK, and even Canada offer gracious scholarships – up to 40% – with some countries even offering up to 90%. These scholarships are offered to meritorious students, students in financial need, students from marginalized communities, and more.

Encourage your child to apply for any scholarship they’re eligible for. They can make a lot of difference so get ready to do some paperwork.

Get enrolled in AP classes

Advanced Placement (AP) classes can be a great way to save money. They give students a chance to earn college credits while in high school, which means less money to spend when they go to college.

Want more? Try this:

  • Encourage your child to take a job. Most kids can manage a few hours of work while studying, which can help reduce the burden.

  • Save boarding money by encouraging your child to live at home.

  • See if there are tuition reimbursement options.

💰 Be a Better Investor

“As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.”

Benjamin Graham

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