TMT Analyst Nick Sant Foster ‘22 and Alex Hunter ’24 provided this week’s market update. Markets were mixed this week, the S&P 500: 4211.47 (+2.259%), NASDAQ: 14,082.55 (+0.161%), DOW: 34,060.36 (-0.222%). The Fed is trying to strengthen the USD, while Biden’s spending plan is weakening the US dollar. Some of our largest positions also reported earnings last week. Amazon reported $29.62 Billion in profit; $15.79 / share, $108.52 Billion in sales; 44% Year-over-year sales growth. COVID-19 has caused e-commerce businesses to explode, and Amazon shows no signs of slowing down. Boeing (BA) reported some less explosive results, with -$561 Million in profit; -1.53 / share. One of our newer holdings Domino’s Pizza, Inc. (DPZ) reported $117.8 Million in profit and $2.94/share. Domino’s stock is up 13% in the last 12 months.
Our tech portfolio also had several big names report earnings. Apple reported 54% YOY Q3 Revenue Growth ($58.3 billion to $89.6 billion, and EPS $1.40. They also announced that they will be increasing their quarterly dividend. Microsoft reported 17% YOY Q3 Revenue Growth ($35 billion to $41.7 billion) and an EPS $1.95. AT&T announced 2.7% YOY Q3 Revenue Growth ($43.9 billion for Q3) with an adjusted EPS $0.86 (bested Wall Street forecast of $0.78). This recent success has primarily been driven by AT&T 5G and HBO Max.
John Paci ’22 presented a Segment on Biotech. The Healthcare sector is made up of five sections. Healthcare Services (HCA, TDOC, UHS), Pharmaceuticals (ABBV, JNJ, GILD), Medical Technology (AMGN, BIIB), Biotechnology (NVO, VRTX, REGN), Healthcare Facilities (HCP, DOC, MPW). Biotech stocks are companies aiming to develop technology and treat specific diseases. There are established large-cap biotechs, mid and micro-cap biotechs. The products developed and sold by Biotech companies are bound by the FDA(or the food and drug regulators of other nations). Many Biotechnology companies have no revenues and await approval of their product from the FDA, and the FDA approval process is very rigorous. But why should the investment club care about Biotech? XBI is currently a 6 Billion dollar subsector of the healthcare sector and has outperformed the S&P over the last 5 years. Analysts on Wall Street see biotech growth into DNA sequencing, Nanobiotechnology, personalized disease treatment.
Chairman of the Board Parth Patel ‘21, Co-Presidents Alec Cwienkala ’21 and Noah Grossman ‘21, and Vice President Connor Thatcher ’21 gave the club an incredibly valuable presentation on networking. LinkedIn is a great way to expand your network and connect with experienced professionals in your field of choice. Noah and Alec walked the club through how to respectfully reach out to someone via LinkedIn. Another great way to network and narrow your career path is by utilizing the Career Center. You can ask your counselor for a spreadsheet of alumni in the region/field of interest. You can also sign up for Career Tracks and Externships, which are the best ways to get an immersive experience in a certain company or field.
Connor broke down the “Dos and Don’ts of Networking.
DO
- “Elevator Pitch”
- Do your homework
- Prepare Questions
- Listen and learn
- Make personal connections
- Use LinkedIn and job sites
- Be patient
- Follow up
DON’T
- Don’t “Use” people
- Don’t ask for a job
- Don’t disrespect your contact’s time
- Don’t expect instant results
Finally, Parth gave club members interested in careers at bulge bracket banks a walk-through of the process. The key to this incredibly competitive recruiting process is to start early, go to networking events, and get into contact with campus recruiters.
Below is a list of banks and when their recruiting process typically begins.
|
Goldman Sachs |
July 1st |
| JP Morgan | July 1st |
| Morgan Stanley | July 1st |
| Citi | March/April |
| Bofa | July 1st |
| CS/DB | July 1st |