{"id":209086,"date":"2021-01-26T17:38:02","date_gmt":"2021-01-26T22:38:02","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=209086"},"modified":"2021-01-27T08:14:49","modified_gmt":"2021-01-27T13:14:49","slug":"stocks-slip-from-record-highs-tech-earnings-begin","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/stocks-slip-from-record-highs-tech-earnings-begin\/","title":{"rendered":"Stocks slip from record highs, tech earnings begin"},"content":{"rendered":"<hr \/>\n<table cellpadding=\"10\" align=\"center\">\n<tbody style=\"padding: 10px; font-family: Helvetica, Arial;\">\n<tr align=\"center\">\n<td align=\"center\"><center>This week, you missed Past Top Picks comments by <a class=\"expert-name\" href=\"https:\/\/stockchase.com\/expert\/view\/1221\/Colin-Stewart\">Colin Stewart<\/a>, including <a class=\"company-name-symbol\" href=\"https:\/\/stockchase.com\/company\/view\/782\/MFI-T\"><span class=\"company-name\">Maple Leaf Foods<\/span><\/a> (<strong>A Top Pick Feb 05\/19, Down 12%<\/strong>) <strong><a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-text\">Get Premium<\/a> to receive all past top picks opinions a few hours before market open.<\/strong><br \/>\n<a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-image\"><img decoding=\"async\" class=\"alignnone size-full wp-image-123205\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2019\/11\/premium-button.png\" alt=\"Get Premium\" width=\"289\" height=\"48\" \/><\/a><\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<p>Volumes were lighter than usual on Wall Street as the main indices dipped modestly into the negative. The S&amp;P closed at -0.15% while the Dow and Nasdaq finished -0.07%. Short squeezes continued to grip <a href=\"https:\/\/stockchase.com\/company\/view\/3512\/GME-N\">Gamestop<\/a> which soared 92.71% but now also <a href=\"https:\/\/stockchase.com\/company\/view\/129\/BBBY-Q\">Bed Bath &amp; Beyond<\/a>, which popped over 20%. <a href=\"https:\/\/stockchase.com\/company\/view\/6053\/BYND-Q\">Beyond Meat<\/a> announced a deal with Pepsi to produce plant-based snacks. <a href=\"https:\/\/finance.yahoo.com\/news\/pepsico-beyond-meat-launch-poorly-141924441.html\" target=\"_blank\" rel=\"noopener\">BYND<\/a> jumped 17.7%.<\/p>\n<p>Overall, energy, materials and utlities lagged American stocks as earnings season began. <a href=\"https:\/\/stockchase.com\/company\/view\/117\/AXP-N\">American Express<\/a> announced a 15% drop in quarterly profit due to Covid lockdowns, and the stock plunged 4.13%. Conversely, <a href=\"https:\/\/stockchase.com\/company\/view\/800\/MMM-N\">3M<\/a> reported an earnings and revenues beat and shares popped 3.26%. However, investors waited for the closing bell to see <a href=\"https:\/\/stockchase.com\/company\/view\/820\/MSFT-Q\">Microsoft<\/a>&#8216;s Q2 report. <a href=\"https:\/\/finance.yahoo.com\/news\/microsoft-earnings-q2-2021-145840911.html\" target=\"_blank\" rel=\"noopener\">MSFT<\/a> beat top and bottom lines and jumped 5% after-hours. <a href=\"https:\/\/stockchase.com\/company\/view\/1281\/TXN-Q\">Texas Instruments<\/a> reported its own earning beat and climbed 1.5% after hours. However, <a href=\"https:\/\/stockchase.com\/company\/view\/1088\/SBUX-Q\">Starbucks<\/a> issued a mixed quarter and shares fell 2%.<\/p>\n<p>The short squeeze may be subsiding on this side of the border for <a href=\"https:\/\/stockchase.com\/company\/view\/1045\/BB-T\">BlackBerry<\/a>, which climbed &#8220;only&#8221; 3.7% Tuesday. Cannabis surged as <a href=\"https:\/\/stockchase.com\/company\/view\/6611\/OGI-T\">Organigram<\/a> leapt 10.63%, and <a href=\"https:\/\/stockchase.com\/company\/view\/4811\/WEED-T\">Canopy<\/a> and <a href=\"https:\/\/stockchase.com\/company\/view\/5210\/APHA-T\">Aphria<\/a> both rallied around 7.5%. In contrast, energy lagged as <a href=\"https:\/\/stockchase.com\/company\/view\/1176\/SU-T\">Suncor<\/a> closed -2.33% and <a href=\"https:\/\/stockchase.com\/company\/view\/4187\/WCP-T\">Whitecap Resources<\/a> -5.01%. Tech also saw a down day as <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify<\/a> fell 4.2% and <a href=\"https:\/\/stockchase.com\/company\/view\/3413\/CSU-T\">Constellation Software<\/a> dipped 2.19%. The overall TSX closed -0.71%.<\/p>\n<p>&#x1f3ae; <a href=\"https:\/\/stockchase.com\/company\/view\/3512\/GME-N\">GameStop Corp.<\/a> +92.71%<br \/>\n&#x1f6cf; <a href=\"https:\/\/stockchase.com\/company\/view\/129\/BBBY-Q\">Bed Bath &amp; Beyond<\/a> +20%<br \/>\n&#x1f969; <a href=\"https:\/\/stockchase.com\/company\/view\/6053\/BYND-Q\">Beyond Meat Inc.<\/a> +17.70%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/117\/AXP-N\">American Express<\/a> -4.13%<br \/>\n&#x1f4bf; <a href=\"https:\/\/stockchase.com\/company\/view\/800\/MMM-N\">3M Co.<\/a> +3.26%<br \/>\n&#x24c2; <a href=\"https:\/\/stockchase.com\/company\/view\/820\/MSFT-Q\">Microsoft<\/a> +5%<br \/>\n&#x1f9ec; <a href=\"https:\/\/stockchase.com\/company\/view\/1281\/TXN-Q\">Texas Instruments<\/a> +1.5%<br \/>\n&#x2615; <a href=\"https:\/\/stockchase.com\/company\/view\/1088\/SBUX-Q\">Starbucks<\/a> -2%<br \/>\n&#x1f4f1; <a href=\"https:\/\/stockchase.com\/company\/view\/1045\/BB-T\">BlackBerry<\/a> +3.7%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/6611\/OGI-T\">OrganiGram Holdings Inc.<\/a> +10.63%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/4811\/WEED-T\">Canopy Growth Corp.<\/a> +7.5%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/5210\/APHA-T\">Aphria Inc<\/a> +7.5%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1176\/SU-T\">Suncor Energy Inc<\/a> -2.33%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/4187\/WCP-T\">Whitecap Resources<\/a> -5.01%<br \/>\n&#x1f6cd; <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify Inc.<\/a> -4.2%<br \/>\n&#x1f4be; <a href=\"https:\/\/stockchase.com\/company\/view\/3413\/CSU-T\">Constellation Software Inc.<\/a> -2.19%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Colin Stewart, including Maple Leaf Foods (A Top Pick Feb 05\/19, Down 12%) Get Premium to receive all past top picks opinions a few hours before market open. Volumes were lighter [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-209086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/209086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=209086"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/209086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=209086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=209086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=209086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}