{"id":61670,"date":"2022-06-06T08:56:33","date_gmt":"2022-06-06T12:56:33","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=61670"},"modified":"2022-06-06T08:56:33","modified_gmt":"2022-06-06T12:56:33","slug":"coffee-with-greta-amazon-stock-split-takes-effect","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/06\/06\/coffee-with-greta-amazon-stock-split-takes-effect\/","title":{"rendered":"Coffee With Greta: Amazon Stock Split Takes Effect"},"content":{"rendered":"

Editor's Note:<\/strong> Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here<\/span><\/a><\/strong>.<\/p>\n

********<\/p>\n

DJIA Futures: <\/b>+282 (+0.9%)<\/span><\/p>\n

SPX Futures: <\/b>+47 (+1.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+196 (+1.6%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are higher as traders look to bounce back from a losing week.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Amazon's Stock Split Takes Effect<\/strong><\/h2>\n

Amazon <\/b>(AMZN) shares are up 2% ahead of the open, as the company\u2019s first stock split in 23 years takes effect.\u00a0<\/span><\/p>\n

The stock is trading around $125 after the 20-for-1 split went into effect after the close on Friday.\u00a0<\/span><\/p>\n

It\u2019s the first time the share price has been in triple-digits since October 2017.<\/span><\/p>\n

Amazon announced plans for the split in an SEC filing on March 9.<\/span><\/p>\n

A company spokesperson said, \u201cThis split would give our employees more flexibility in how they manage their equity in Amazon and make the share price more accessible for people looking to invest in the company.\u201d\u00a0<\/span><\/p>\n

Oil Jumps to $120 a Barrel<\/strong><\/h2>\n

Oil prices are rising today after Saudi Arabia hiked its crude prices for July.\u00a0<\/span><\/p>\n

West Texas Intermediate crude and Brent crude futures are both up about 0.2% and hovering right around $120 bbl.\u00a0<\/span><\/p>\n

WTI hit a three-month high of $120.99 earlier this morning while Brent topped out at $121.95.<\/span><\/p>\n

Saudi Arabia hiked the official selling price for its Arab light crude to Asia to $6.50 for July, up by $2.10 from June.\u00a0<\/span><\/p>\n

That\u2019s the highest price since May.<\/span><\/p>\n

Gas Price Record<\/strong><\/h2>\n

The national average for a gallon of regular gas jumped sharply over the weekend.<\/span><\/p>\n

AAA<\/span><\/a> shows that price rose to $4.865 today.\u00a0<\/span><\/p>\n

That\u2019s up more than 10 cents from just Friday.\u00a0<\/span><\/p>\n

A week ago the national average was $4.619\/gal and it was $4.279\/gal a month ago.\u00a0<\/span><\/p>\n

Georgia is still the state with the lowest average price at $4.292\/gal.\u00a0<\/span><\/p>\n

The highest state average is in California which rose more than 3 cents overnight to $6.341\/gal.<\/span><\/p>\n

Inflation Week<\/strong><\/h2>\n

It\u2019s a relatively light week of economic data with traders focused on inflation.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics releases the May Consumer Price Index on Friday morning.\u00a0<\/span><\/p>\n

The market will be eyeing that report for more evidence that inflation has already peaked.<\/span><\/p>\n

The headline CPI is expected to have risen 8.2% year over year with the Core CPI at 5.9%.\u00a0<\/span><\/p>\n

Both forecasts are a slowdown from April.\u00a0<\/span><\/p>\n

JetBlue Sweetens Spirit Takeover Offer<\/strong><\/h2>\n

Spirit Airlines <\/b>(SAVE) shares are rising 6% in premarket trade after <\/span>JetBlue Airways <\/b>(JBLU) sweetened its offer to buy the discount airline.\u00a0<\/span><\/p>\n

JBLU shares are up 1.4% ahead of the open.\u00a0<\/span><\/p>\n

JetBlue is now offering $31.50 per share in cash, up from its previous offer of $30 per share.\u00a0<\/span><\/p>\n

The improved offer includes $30 per share at the close of the deal and $1.50 paid as a cash dividend if shareholders vote for the JetBlue deal.\u00a0<\/span><\/p>\n

JetBlue also raised the reverse break-up fee to $350 million from $200 million.\u00a0<\/span><\/p>\n

That would be paid to shareholders if they approve the deal but it falls through due to regulatory reasons.\u00a0<\/span><\/p>\n

Spirit previously declined JetBlue\u2019s offer, expressing doubt it would receive regulatory approval.\u00a0<\/span><\/p>\n

The company is also still in talks to merge with <\/span>Frontier Group <\/b>(ULCC).<\/span><\/p>\n

DiDi Surges On Report Regulators Are Ending Investigations<\/strong><\/h2>\n

DiDi Global <\/b>(DIDI) shares are surging 66.5% ahead of the open after the Wall Street Journal <\/span>reported<\/span><\/a> that Chinese regulators are ending their investigations into the Chinese ride-hailing company.\u00a0<\/span><\/p>\n

Authorities are also reportedly planning to lift a ban on new users and will allow the Didi mobile apps back on domestic app stores.\u00a0<\/span><\/p>\n

Sources told the Wall Street Journal those changes could happen as early as this week.\u00a0<\/span><\/p>\n

Solar Companies Jump On White House Tariff Plan<\/strong><\/h2>\n

Shares of solar equipment providers are rising in premarket trade after Reuters <\/span>reported<\/span><\/a> the White House is planning to announce a tariff exemption for solar panels.\u00a0<\/span><\/p>\n

President Biden is expected to declare a 24-month long exemption for solar panels from Cambodia, Malaysia, Thailand, and Vietnam today.\u00a0<\/span><\/p>\n

The move is meant to spur more solar panel production in the U.S.\u00a0<\/span><\/p>\n

SunRun <\/b>(RUN) shares are up 13.9% ahead of the open, while <\/span>SunPower <\/b>(SPWR) is gaining 9.4%, and <\/span>SolarEdge Technologies <\/b>(SEDG) is up 6.3%.<\/span><\/p>\n

Under Armour Replaced by Keurig Dr Pepper, ON Semiconductor on S&P 500<\/strong><\/h2>\n

Under Armour <\/b>(UAA) shares are flat after the athletic apparel company was removed from the S&P 500.<\/span><\/p>\n

The stock was replaced by <\/span>Keurig Dr Pepper <\/b>(KDP) and <\/span>ON Semiconductor <\/b>(ON).<\/span><\/p>\n

KDP shares are up 6.6% in premarket trade while ON shares are rising 6%.<\/span><\/p>\n

VICI Properties <\/b>(VICI) shares are also up 6.7% ahead of the open after the real estate investment trust was also added to the S&P 500.\u00a0<\/span><\/p>\n

In Case You Missed It<\/strong><\/h2>\n
    \n
  • Apple <\/b>(AAPL) suffered a death cross on Friday. The stock\u2019s 50-day moving average dropped to $159.09 while the 200-day moving average rose to $159.49. It was the first death cross for the tech giant since December 20, 2018. AAPL shares are 1.3% ahead of the open.\u00a0<\/span><\/li>\n<\/ul>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Editor’s Note: Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here. ******** DJIA Futures: +282 (+0.9%) SPX Futures: +47 (+1.2%) NASDAQ Futures: +196 (+1.6%) Good morning friends! Futures are higher as traders look to bounce back from a losing week. Let\u2019s get right to it! Amazon’s Stock Split Takes Effect Amazon (AMZN) shares are up 2% ahead of the open, as the company\u2019s first stock split in 23 years takes effect.\u00a0 The stock is trading around $125 after the 20-for-1 split went into effect after the close on Friday.\u00a0 It\u2019s the first time the share price has been in triple-digits since October 2017. Amazon announced plans for the split in an SEC filing on March 9. A company spokesperson said, \u201cThis split would give our employees more flexibility in how they manage their equity in Amazon and make the share price more accessible for people looking to invest in the company.\u201d\u00a0 Oil Jumps to $120 a Barrel Oil prices are rising today after Saudi Arabia hiked its crude prices for July.\u00a0 West Texas Intermediate crude and Brent crude futures are both up about 0.2% and hovering right around $120 bbl.\u00a0 WTI hit a three-month high of $120.99 earlier this morning while Brent topped out at $121.95. Saudi Arabia hiked the official selling price for its Arab light crude to Asia to $6.50 for July, up by $2.10 from June.\u00a0 That\u2019s the highest price since May. Gas Price Record The national average for a gallon of regular gas jumped sharply over the weekend. AAA shows that price rose to $4.865 today.\u00a0 That\u2019s up more than 10 cents from just Friday.\u00a0 A week ago the national average was $4.619\/gal and it was $4.279\/gal a month ago.\u00a0 Georgia is still the state with the lowest average price at $4.292\/gal.\u00a0 The highest state average is in California which rose more than 3 cents overnight to $6.341\/gal. Inflation Week It\u2019s a relatively light week of economic data with traders focused on inflation.\u00a0 The Bureau of Labor Statistics releases the May Consumer Price Index on Friday morning.\u00a0 The market will be eyeing that report for more evidence that inflation has already peaked. The headline CPI is expected to have risen 8.2% year over year with the Core CPI at 5.9%.\u00a0 Both forecasts are a slowdown from April.\u00a0 JetBlue Sweetens Spirit Takeover Offer Spirit Airlines (SAVE) shares are rising 6% in premarket trade after JetBlue Airways (JBLU) sweetened its offer to buy the discount airline.\u00a0 JBLU shares are up 1.4% ahead of the open.\u00a0 JetBlue is now offering $31.50 per share in cash, up from its previous offer of $30 per share.\u00a0 The improved offer includes $30 per share at the close of the deal and $1.50 paid as a cash dividend if shareholders vote for the JetBlue deal.\u00a0 JetBlue also raised the reverse break-up fee to $350 million from $200 million.\u00a0 That would be paid to shareholders if they approve the deal but it falls through due to regulatory reasons.\u00a0 Spirit previously declined JetBlue\u2019s offer, expressing doubt it would receive regulatory approval.\u00a0 The company is also still in talks to merge with Frontier Group (ULCC). DiDi Surges On Report Regulators Are Ending Investigations DiDi Global (DIDI) shares are surging 66.5% ahead of the open after the Wall Street Journal reported that Chinese regulators are ending their investigations into the Chinese ride-hailing company.\u00a0 Authorities are also reportedly planning to lift a ban on new users and will allow the Didi mobile apps back on domestic app stores.\u00a0 Sources told the Wall Street Journal those changes could happen as early as this week.\u00a0 Solar Companies Jump On White House Tariff Plan Shares of solar equipment providers are rising in premarket trade after Reuters reported the White House is planning to announce a tariff exemption for solar panels.\u00a0 President Biden is expected to declare a 24-month long exemption for solar panels from Cambodia, Malaysia, Thailand, and Vietnam today.\u00a0 The move is meant to spur more solar panel production in the U.S.\u00a0 SunRun (RUN) shares are up 13.9% ahead of the open, while SunPower (SPWR) is gaining 9.4%, and SolarEdge Technologies (SEDG) is up 6.3%. Under Armour Replaced by Keurig Dr Pepper, ON Semiconductor on S&P 500 Under Armour (UAA) shares are flat after the athletic apparel company was removed from the S&P 500. The stock was replaced by Keurig Dr Pepper (KDP) and ON Semiconductor (ON). KDP shares are up 6.6% in premarket trade while ON shares are rising 6%. VICI Properties (VICI) shares are also up 6.7% ahead of the open after the real estate investment trust was also added to the S&P 500.\u00a0 In Case You Missed It Apple (AAPL) suffered a death cross on Friday. The stock\u2019s 50-day moving average dropped to $159.09 while the 200-day moving average rose to $159.49. It was the first death cross for the tech giant since December 20, 2018. AAPL shares are 1.3% ahead of the open.\u00a0  <\/p>\n","protected":false},"author":41,"featured_media":61671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-61670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=61670"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61670\/revisions"}],"predecessor-version":[{"id":61673,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61670\/revisions\/61673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/61671"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=61670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=61670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=61670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}