Investor's Playbook

📖Today’s Agenda

• Stock Market : Nasdaq Hits Record High as Stocks Begin March with Strength

• Entrepreneurship : TOP 3 AI TOOLS OF THE WEEK

📈Stock Market

Nasdaq Hits Record High as Stocks Begin March with Strength

The Nasdaq composite knocked it out of the park and closed at all-time highs Friday night, breaking a 27-month-old record, as major indexes rallied in the stock market.

The Nasdaq ended the day up 1.1%, to close at 16,274.94, making it a second straight day of record high closes.

The tech-heavy composite is the last of the major indexes to reach a new peak during the current uptrend, following the lead of the Dow Jones Industrial Average and the benchmark S&P 500.

Meanwhile, the Dow ticked 0.2% higher, while the S&P 500 also strengthened and rose 0.8%, also setting a record closing high.

The Dow, which hit its all-time high on Feb. 23, and the S&P 500 have had their best starts of the year since 2019. The Dow has gained 3.5% year-to-date and the S&P was up 6.8% through Thursday's close.

Volume rose on the New York Stock Exchange and fell on the Nasdaq compared with the same time on Thursday, in preliminary numbers.

The Invesco QQQ Trust (QQQ) exchange-traded fund climbed 1.5%.

The 10-year Treasury yield shed 7 basis points to 4.18%.

Spirit AeroSystems Soars On Buyout News

Spirit AeroSystems (SPR), a supplier of Boeing's 737 Max fuselages, rocketed 15.3% in heavy volume, on news that Boeing (BA) is in discussions to buy the company, The Wall Street Journal reported. Spirit stock broke out of a cup-with-handle base with a 30.81 buy point and is above the 5% buy zone that reaches to 32.35.

Dow Jones component Boeing eased 1.8% and was trading below its 50-day and 200-day moving averages.

Commvault Systems (CVLT) climbed nearly 2% and topped a 96.12 entry from a bullish four-weeks-tight pattern.

Marvell Technology (MRVL) soared 8.3% and broke out of a flat base with a 73.53 buy point. The stock closed atop a buy zone that reaches to 77.21. The move came after Oppenheimer reiterated its outperform rating and lifted its price target on the stock to 80 from 70. Marvell reports its fiscal fourth-quarter results on March 7.

Veeva Systems (VEEV) fell nearly 1.6% on a volatile day, after the company topped fiscal fourth-quarter profit and sales estimates. Shares of the marketing software firm topped the 225.49 buy point of a cuplike base before retreating. Veeva stock closed below the buy point.

Brazilian aircraft maker Embraer (ERJ) popped 7% and broke out of a cup base with a 20.13 buy point in heavy volume. Shares are in a buy zone that stretches to 21.14 on the stock market.

Stock Market Movers: Earnings Action

Zscaler (ZS) gapped down 9.4% even after its fiscal second-quarter earnings and sales topped estimates. It also gave a current-quarter and a fiscal 2024 revenue outlook that was slightly above analyst views, but that didn't satisfy investors.

Dell (DELL) catapulted 31.2% Friday in huge volume, after the computer and server maker beat its fourth-quarter profit and revenue expectations and increased its dividend. Shares reached an all-time high.

Elastic (ESTC) tumbled about 12.6% after the data software company reported fiscal third-quarter earnings and sales that exceeded expectations. It also gave a current-quarter sales outlook that was above analyst projections, but the stock fell anyway.

Autodesk (ADSK) gave back most of the day's gains and closed with a 2.5% gain in heavy trading. The volatile action came after the company's higher-than-expected profit and revenue for the fourth quarter. It also gave a full-year 2024 revenue outlook that topped views, but its 2024 adjusted earnings forecast slightly lagged Wall Street's predictions.

🎯Entrepreneurship

TOP 3 AI TOOLS OF THE WEEK

1. Frontnow

DATA TO DATA / DATA TO TEXT

Frontnow AI Tool maximizes e-commerce pre-sales through data analysis, text generation, and interactive question creation. With autonomous data analysis and text generation capabilities, Frontnow enhances customer engagement, streamlines communication, and fosters brand loyalty across various sectors including e-commerce, marketing communication, marketplace, customer support, and sales.

2. Fyle

DATA TO DATA / IMAGE TO TEXT

Fyle offers AI-powered data analysis, visualization, and text extraction for efficient expense reporting. With features like automated expense reporting, credit card reconciliation, and employee reimbursement, Fyle streamlines financial management processes. Its key attributes include extensive data analysis capabilities, secure text extraction, and rule-based auto-categorization for improved efficiency and accuracy. Ideal for finance professionals seeking streamlined expense tracking and financial management, Fyle simplifies operations and reduces manual effort.

3. Viewst

TEXT TO TEXT

Viewst is an AI-powered tool that streamlines marketing operations by generating creative variations and facilitating web design. Its key features include creative changes management, automated versioning, performance analysis, website creation, and web design capabilities. Viewst finds application across diverse sectors such as web design, marketing/communication, SEO, marketplace, and sales. With potential use cases ranging from creating unique website designs to designing captivating sales pitches, Viewst empowers users to enhance productivity, make informed decisions, and improve team coordination.