Podcast Summary
Record-breaking Super Bowl 50 bets: $23.1 billion: Super Bowl 50 sets a new record for betting activity with $23.1 billion in wagers, driven by sports betting legalization and Taylor Swift's involvement, potentially benefiting companies like Red Rock Resorts, Vici Properties, and FanDuel.
The Super Bowl 50 eight, taking place in Las Vegas this Sunday, is expected to generate a record-breaking $23.1 billion in wagers, both legally and illegally. This surge in betting activity is due to the combination of sports betting legalization in new states and the high-interest Super Bowl game. Notable states joining the betting mix this year include Florida, Massachusetts, Kentucky, Maine, Vermont, and Nebraska. Taylor Swift's involvement in sports betting has also contributed to a record volume of props bets. Stocks that could potentially benefit from the Super Bowl's attention include Red Rock Resorts, Vici Properties, Golden Entertainment, Hilton Worldwide, and Bally's Interactive. Morgan Stanley predicts that FanDuel and DraftKings will continue to dominate the market share, with BetMGM, Caesars Sportsbook, and ESPN Bet following closely behind. If you're looking for a broad investment play in the sports betting and iGaming sector, consider the Roundhill Sports Betting and iGaming ETF, with top holdings including Flutter Entertainment, DraftKings, Evolution, Entain, Kindred Group, Churchill Downs, and Sportradar. The Super Bowl is not just about football, and high-profile commercials during the game could boost brands that effectively engage consumers. DoorDash, with its "all the ads" sweepstakes, may stand out in this regard.
Coca-Cola's Unusual Marketing Contest and New Flavor: Coca-Cola is making headlines with an unusual marketing contest offering a BMW and Clydesdale saddle, while introducing a new permanent flavor, Coca-Cola Spiced, with raspberry and spiced flavors. The US stock market reached an all-time high, and Expedia reported earnings but saw a drop due to CEO departure.
Coca-Cola is making headlines with its unusual marketing contest, where one lucky winner will receive an eclectic mix of items from commercial giveaways, including a BMW and a Clydesdale saddle. Meanwhile, Coca-Cola is introducing a new permanent soda flavor, Coca-Cola Spiced, with raspberry and spiced flavors. The company is also reporting earnings soon, with expectations for revenue of $10.65 billion and EPS of 49¢. Expedia reported upbeat Q4 earnings, but the departure of its CEO, Peter Kern, overshadowed the results, causing a 14% drop in premarket trading. The US stock market ended slightly higher, with the S&P 500 reaching an all-time high of over 5,000 points for the first time. Other news includes British American Tobacco's focus on smokeless tobacco paying off, UBS answering investors' questions for 2024, and Greenlight Capital's founder expressing concerns about passive investors.
Cloudflare reports stronger earnings, raises profit guidance, causing stock surge: Cloudflare's earnings beat expectations, leading to profit guidance increase and a 25% stock price surge. The major indices were modestly up, with the Nasdaq leading the way. Crude oil and Bitcoin also gained value, while utilities were the biggest losers.
Cloudflare (NYSE: NET) saw significant gains in the pre-market hours after reporting stronger-than-expected earnings and raising its annual profit guidance, causing a 25% surge in its stock price. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite were all modestly up, with the Nasdaq leading the way. Crude oil and Bitcoin also saw gains, with oil at over $76 a barrel and Bitcoin surpassing $46,000. In economic news, a speech from Federal Reserve Vice Chair Lori Logan is scheduled for 1:30 PM. Utilities were the biggest losers, with the sector experiencing declines. Overall, markets remained relatively stable, with little significant movement. For comprehensive coverage on significant stocks and ETFs, consider becoming a Seeking Alpha premium subscriber. Have a great Super Bowl weekend!
