Q4 Earnings Recap & Congressional Trades Update

Here’s a quick recap of some of the latest news and insights from the market and our data:

Q4 GDP growth in the U.S. came in at 3.3% annualized, beating out expectations of 2.0% growth. Q4 company earnings swept the news with highlights like:

• Tesla (TSLA) fell 5% in Q4 and missed expected earnings 

• American Express (AXP) returned $15.3B to shareholders with a 15% dividend increase in 2024’s Q1 

• Northrop Grumman (NOC) reported a total 2023 revenue of $39.3B, up 7% YOY

• Netflix (NFLX) added 13+ million new subscribers in Q4, contributing to what they predict will be a double-digit revenue growth in 2024

We’ve also continued to see many interesting developments within the alternative data we scrape and publish. Here’s a snapshot of what we saw in some of our datasets last week:

LAST WEEK’S CONGRESSIONAL TRADES 

Insights from our Congress Trading Dashboard

• Senator Lindsey Graham filed a purchase of Wisdomtree Floating (USFR) and a sale of a Vanguard Div Appreciation ETF (VIG). Graham sits on the Committees on Appropriations and Budget. 

• Senator Markwayne Mullin filed sales of 13 securities and purchases of 29 - including several semiconductor stocks like Lam Research (LRCX), Advanced Micro Devices (AMD), and Applied Materials (AMAT). Mullin sits on the Committee on Armed Services.

• Representative Michael C. Burgess filed purchases of Exxon Mobil (XOM) and Illumina (ILMN), and sales of 7 different stocks. Burgess sits on the Committee on Energy and Commerce. 

• Representative Jared Moskowitz filed 15 security purchases ranging from healthcare to tech, as well as sales of 19 securities - including stocks like Disney (DIS) and countercyclical Dollar General (DG). Moskowitz sits on the Committees for Foreign Affairs and Oversight & Accountability. 

• Representative Blake Moore liquidated almost his entire portfolio, filing sales of 32 different positions. He filed 7 new purchases in Vanguard ETFs, SPY, and Apple (AAPL). Moore sits on the Committees on Armed Services, Natural Resources, and Budget.

• Representative Pete Sessions filed sales of Alibaba Group (BABA), Crown Castle (CCI), and American Tower (AMT). Sessions sits on the Committees on Financial Services and Oversight & Reform 

To see more details about their trades, and how they’ve performed since, check out our Congress Trading Dashboard. 

INSIDER TRADING HIGHLIGHTS

Insights from our Insider Trading Dashboard last week. 

Corporate insiders are required to disclose purchases or sales of their own stock within two business days of when they occur. Using these disclosures, we collect data on insider trading activity, which can give hints on whether executives are bullish or bearish on their own company.

• Two executives at Adobe (ADBE) disclosed a collective sale of 3,843 shares in the company 

• Co-CEO and Chief Legal Officer at Netflix (NFLX) disclosed a collective sale of 61,229 shares in the company 

• Over the course of a few days, Turtle Creek Asset Management sold exactly 90,000 shares in Berad Financial Holdings (BFH) over 24 separate sales 

QUIVER STRATEGIES

Insights from Quiver Strategies

In the last month we’ve seen some impressive returns with some of our strategies: 

• Nancy Pelosi’s personal and family trading strategy is up 5.7%

• Our WallStreetBets Momentum strategy is up 16.01%

• The House Energy and Commerce Committee strategy is up 10.28%

• You can track all of our strategies at www.quiverquant.com/strategies.

TESLA SHARES TUMBLE 12% AS MUSK PREDICTS SLOWER GROWTH

Insights from the Quiver News Feed

Tesla (TSLA) experienced a significant drop in its stock value, nearly 11%, following CEO Elon Musk's announcement of slower sales growth and a focus on developing a more affordable electric vehicle. This projected decrease in market capitalization, which could reach $70 billion, compounds an already challenging month for the automaker, with its valuation potentially shrinking by approximately $200 billion.

The ripple effect of Tesla's forecast was felt across the electric vehicle (EV) industry, with shares of Rivian (RIVN), Lucid Group (LCID), and Fisker 

Market Overview:

• Tesla plummets on CEO Musk's projected sales slowdown, potentially erasing $50 billion in market value.

• Ripples spread across the EV sector, with Rivian, Lucid, and Fisker taking hits.

• Investor concerns mount about margin pressure and intensifying competition, particularly from BYD in China.

• "Magnificent Seven" tech stocks, including Apple (AAPL) and Microsoft (MSFT), offer potentially safer havens amid Tesla's turmoil.

Continued on our News Feed.