Welcome to Blue Room's Weekend Update. Each week, we're sharing what companies we're researching and the what, the who and the how that we think makes the companies interesting and unique. This roundup is brought to you weekly by a group of interns, creative minds, artists and investors who believe that through best in class investing along with the democratization of financial education we can do great things together. Enjoy, Explore and Share.

:dog:moon:

Dogecoin plunged last weekend from 65 cents to as low as 38 cents following Elon Musk's Saturday Night Live debut, but has since recovered after Elon announced that he is working with Dogecoin developers to improve system efficiency after Tesla decided to suspend Bitcoin payments due to its immense energy usage. Coinbase, the largest crypto exchange in the U.S., also announced on its most recent earnings call that the company will be adding Dogecoin transactions to its platform in the next six to eight weeks. The combination of both news updates catapulted the crypto from 39 cents to 57 cents in 24 hours, over a 50% increase — instilling more hope in holders of the cryptocurrency that it can soon hit $1 per coin, and eventually go "to the moon." Thank you Nick Peart for reporting live.

> LET’S <

TRANSACT

+ USING +

DOGECOIN

— PAY US ONE DOGECOIN —
TO UNLOCK SOME FUN

( PUT ON YOUR DANCING SHOES )

NOT FOR THE FAINT OF HEART.
You will be opening a trading account with the Winklevii.

Here are the steps:

1.
DOWNLOAD DOGECOIN WALLET

AFTER SETTING UP YOUR ACCOUNT,
LOCATE DOGECOIN WALLET ADDRESS BY CLICKING “RECEIVE”

2.
BUY DOGECOIN

GEMINI IS BROUGHT TO YOU BY THE WINKLEVII

3.
WITHDRAW DIGITAL DOGECOIN FROM YOUR GEMINI PORTFOLIO

4.
SEND DIGITAL DOGECOIN TO YOUR WALLET AT EXODUS

5.
PAY US BY CLICKING ON THE WALLET BUTTON BELOW

( YOU WILL PAY US 1 DOGECOIN FROM YOUR DIGITAL WALLET IN STEP 1 )

ENJOY!!

On April 3, I wrote an overview of Novavax, the biotech company based out of Gaithersburg, Maryland. They have a protein-based vaccine candidate, NVX-CoV2373, that has undergone a number of trials all over the world, including:

• Phase 3 study in the UK

  • 96% efficacy against original COVID-19

  • 86% efficacy against B.1.1.7 variant (first described in UK)

  • 89% efficacy in participants > 65 years of age

  • 91% efficacy in participants with high-risk medical comorbidities

• Phase 2b study in South Africa

  • 55% efficacy in HIV-negative population

  • 51% efficacy against B.1.351 escape variant

///

FINANCIAL MODELING

please join us as we model

+ COLGATE +

++ bullpen ++ catchup on weekend plans ++

Financial Modeling 101:
Colgate

Friday
May 14, 2021
9:30 AM

BLUE ROOM
Investment Team Bullpen
__________ __________

🙏🏻

THANK YOU

— MINYOUNG SOHN —

for being a
LEADER.

COMPASSIONATE / PERSEVERING / VISIONARY
BLUE ROOM / COMMUNITY / HUMANITY

+ INSPIRED +

ECONOMIC CLUB OF COLORADO

— IN PERSON —

For the first time in over a year, the Economic Club of Colorado hosted an event which brought great conversation, lunch and a riveting presentation by Dag Kittlaus, Co-Founder/CEO of Siri, profiling his new endeavor Riva Health — the future of cardiovascular healthcare leveraging mobile technology and A.I.

A

R

T

MCA_

May is Asian American and Pacific Islander Heritage Month, marking a time for us to celebrate and recognize the contributions and achievements made by AAPI Americans to this country's history and culture.

Throughout the month of May, the MCA asked their staff to share artists/creators that have impacted their lives, as well as have made an influence on American arts and culture. Through MCA staff we have learned about Do Ho Suh, Zhang Huan, and Rirkrit Tiravanija.

AS OF MAY 13 2021
— POSTED ON THE CDC —

IF YOU’VE BEEN FULLY VACCINATED

+
FOR TWO WEEKS
+

• You can resume activities that you did prior to the pandemic.

• You can resume activities without wearing a mask or staying 6 feet apart, except where required by federal, state, local, tribal, or territorial laws, rules, and regulations, including local business and workplace guidance.

!!!!!!!!

+

ONLY CHEF-LED FLOUR

+

__________

COULD TASTE THIS GOOD

Whether you are at Chef Kelly’s restaurants — The Wolf’s Tailor, Dry Storage, BRUTØ/BØH, BASTA, <<OR>> many other kitchens starting to adopt DRY STORAGE FLOUR, you are experiencing and supporting the REGENERATIVE MOVEMENT 🌾 fresh from the San Luis Valley.

REGENERATIVE PRACTICES FOR THE WIN.

++ PERFORMANCE / FLAVOR / HEALTH FOR YOU ++

2021 05 13 BLUE ROOM Meeting #051

Thursday
May 13, 2021
12 PM
__________ __________

BLUE ROOM
THURSDAY MEETING
NUMBER
FIFTY ONE
__________ __________

Dear Blue Room,

One year ago, we held our first Thursday meeting launching our company.

Meeting #001 
May 14, 2020
vimeo.com/426455976

I would like to thank Emily and Nina, the earliest Blue Room Tribal Elders, Kelly, Eduardo, Helen, Chad, Rich, Sadie and our research team, led by Omar, Ian, Nick and our Fellows Jared, Spencer, Aidan, Vincent, Julie, and Naia and all the interns who helped us discover the type of company we could be. We have also been so fortunate to have Cole and Sharon and Jim (and Mike) and the Madelon team of Alfonso, Joseph, Dane, Sean and Camille, and others join this interconnectedness.

In this past year, our full time research team of Omar, Ian and Nick have worked tirelessly to build our research library, while also guiding our interns. Regarding our internship program, we are in our fourth internship class (Summer 2020, Fall 2020, Holiday 2020, Spring 2020), and since we started, we have served 39 unique students.

Looking ahead to the launch our investment business in October, 

Our initial strategy will focus on long term capital appreciation from a "best ideas" portfolio, mainly of our best stock ideas.

A special thank you to IWP (Sadie, Stephanie and Charlie) for being Blue Room's financial advisor, while also providing essential operational support, including leading the work with Rich and Greenberg Traurig to set up our investment adviser and all of the necessary operating agreements.

Blue Room's Long Term Strategy is to build human capital and relationships.

Blue Room Impact projects such as Dry Storage, the Guadalajara Art Project and Liminal Space are important to establish our reputation of doing good while also pursuing profit.

If the world operating model is people, connections and money,

Then reputation, and the ability to foster and win trust, will naturally lead to more business for our traditional money management business, Blue Room Investing.

In the near future, as we generate revenues, 

Blue Room will donate ten percent of our revenues to Togetherism, which is our philanthropic arm, led by Nina. Our desire is to provide grants to the worthy causes in our community. The scale of the opportunity is exciting. If our company were to ever gather one billion dollars in assets under management, at our 1% management fee, we would earn ten million dollars. Of this, one million dollars would fund local efforts.

This past week:

Monday: vimeo.com/547660166

Tuesday: vimeo.com/548113434

Wednesday: vimeo.com/548510878

Question(s): What is the most beautiful / impactful (thing) you have witnessed or been part of? Or, what is the most beautiful / impactful (thing) you can envision?

P L E A S E E N J O Y T H E

—WEEKLY—

company updates
from the BR intern team.

Aidan Fetterly

Ticker: AAPL
Name: Apple, Inc.
Number of Shares Outstanding: 16.94B
Market Capitalization: $2.086T

Stock Price History

May 3, 2021 $132.54

May 4, 2021 $127.85

May 5, 2021 $128.10

May 6, 2021 $129.74

May 7, 2021 $130.21

$0.22 Dividend 

May 10, 2021 $126.85

May 11, 2021 $125.91

May 12, 2021 $122.77

May 13, 2021 $124.97

The last 10 trading days have undeniably presented immense challenges for Apple and, unsurprisingly, the company's shares have seen a considerable decline in that period. Of most direct concern to the company are the antitrust claims waged against Apple by Fortnite creator Epic Games, with the video game developer suing over its product’s removal from the App Store last August. With a trial beginning last Monday, May 3, Epic Games is looking to prove not only the mishandling of its product, which was removed from the App Store after Epic’s attempt to bypass Apple's commission requirements when players enact in-app purchases, but also that the App Store's curated downloadable library and commission-based revenue model are monopolistic in nature and present prohibitive costs to producers. Conversely, Apple continues to argue that its fee system, which allows the company to collect up to 30% of the revenue on digital sales, is necessary to cover the expenses associated with creating a secure and safe experience for users. Although a decision by US district judge Yvonne Gonzalez Rogers, which is expected to be met with appeal regardless, is still potentially weeks away, it will be necessary to follow these developments closely to see if/how Apple is affected structurally by the lawsuit.

Ticker: TTWO
Name: Take-Two Interactive Software, Inc.
Number of Shares Outstanding: 115.11M
Market Capitalization: $18.744B

Stock Price History

May 3, 2021 $170.30

May 4, 2021 $167.53

May 5, 2021 $167.47

May 6, 2021 $168.84

May 7, 2021 $170.07

May 10, 2021 $169.02

May 11, 2021 $167.99

May 12, 2021 $164.26

May 13, 2021 $162.74

Over the last week, Take-Two Interactive Software, Inc. has seen a further regression of its stock price as the equity approaches a six-month. While analysts and investors closely await the May 18 earnings call, the major skepticism of the company currently focuses on Take-Two's ability to maintain growth in a non-stay-at-home, post-pandemic world while also continuing to produce consistent, high-quality content. Leading into the last earnings call on February 8, investors saw TTWO's share price rise to an all-time high. Yet even after results demonstrated a healthy outperformance of general analyst predictions, the equity has faced steady downward movement as uncertainties in the production pipeline have pervaded the market. That being said, following periods of consistent decline, TTWO shares have seen repeated support around the $160 price level over the last year, presenting potential promise that a successful earnings call coupled with substantial product news could realign TTWO shares in a positive trajectory.

Kelley Jiang

Ticker: LB
Name: L Brands, Inc
Number of Shares Outstanding: 278.9M
Market Capitalization: $18.62B

Stock Price History 

April 19, 2021 $65.90

April 20, 2021 $64.12

April 21, 2021 $65.31

April 22, 2021 $66.07

April 23, 2021 $67.38

April 26, 2021 $66.45

April 27, 2021 $67.59

April 28, 2021 $67.44

April 29, 2021 $66.65

April 30, 2021 $66.00

May 03, 2021 $67.63

May 04, 2021 $65.85

May 05, 2021 $65.69

May 06, 2021 $65.94

L Brands, Inc is a segment retailer focused on personal care goods, women’s intimate and other apparel, beauty and fragrance products. Based in Columbus, Ohio, L Brands hosts the flagship brands of Victoria Secret, PINK and Bath & Body Works under its name. With more than 3,000 stores across the globe, the company is focused on inspiring an aspirational lifestyle by making their customers feel bold and powerful. 

Riding the news of a potential sale with Victoria’s Secret, L Brands’ stock valuation fluctuated around $67 before dropping around 100 basis points to $65.94 on May 6th, 2021. 

In addition, Bank of America recently reported on the potential transactions of VS, commenting that they believe L Brands’ management will opt for a spinoff if Victoria’s Secret cannot obtain an offer from $4 to $5 billion. They also believe that with the potential spinoff or sale of VS, L Brands will greatly amplify the expansion of the Bath & Body Works brand. 

Emma Leary

Ticker: MSFT
Name: Microsoft Corporation
Shares Outstanding: 7.53B
Market Cap: $1.836T

Microsoft Corporation develops, licenses and supports software, services, devices and solutions worldwide. MSFT has been a notable leader in the technology industry for decades now as the company was founded when the era of personal computers was emerging in 1975. The company currently offers three main segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.

Recent Stock Price History:

May 3, 2021 $253.40

May 4, 2021 $250.97

May 5, 2021 $249.06

May 6, 2021 $246.45

May 7, 2021 $252.15

May 10, 2021 $250.87

May 11, 2021 $244.55

May 12, 2021 $242.16

May 13, 2021 $241.80

May 14, 2021 $245.57

Microsoft is trading at a lower price this week than in April and prices have gone down this week, from around $253 to $241, as the company comes down from its record highs. The entire stock market as a whole took a hit this week, particularly on Wednesday, which resulted in the decrease in share price. This hit was especially harmful to technology companies because inflation increased price pressure more than was expected. Microsoft as a company is still doing well this year compared to its historical data and the drop is not significant from a longer-term perspective. 

Following up on the Microsoft security breaches in January and March of this year, this issue has resurfaced this month but in a more positive light. The company’s recent partnership with Darktrace, an autonomous cybersecurity artificial intelligence company, showed stockholders their commitment to working on these issues and consumer privacy. Microsoft recently patched 55 vulnerabilities and exposures in their software products and computer programming which was a large step toward improving their privacy and security. Darktrace uses a specific type of AI that responds to threats at machine speed, which helps Microsoft to more efficiently address the breaches. This partnership will provide a new type of defense for the company against the sophisticated and complex attacks that it's been susceptible to, especially as the technology industry transitions to the cloud. 

Julian Martelly

Ticker: AMGN
Name: Amgen, Inc. 
Number of Shares Outstanding: 577.57M
Market Capitalization: $136.844B

Stock Price History

April 16, 2021 $255.71

April 19, 2021 $255.97

April 20, 2021 $259.14

April 21, 2021 $258.78

April 22, 2021 $256.69

April 23, 2021 $257.03

April 26, 2021 $255.52

April 27, 2021 $255.13

April 28, 2021 $236.71

April 29, 2021 $234.71

April 30, 2021 $238.34

Amgen, Inc. Executive Summary (5/01/21)

A biotechnology pioneer since 1980, Amgen is a values-based company dedicated to delivering innovative human therapeutics to areas of highly unmet medical need. These areas include: cardiovascular disease, oncology, bone health, neuroscience, nephrology and inflammation. Over the years, they have grown into one of the world’s leading independent biotechnology companies, reaching millions of patients around the globe. Most recently, Amgen launched a new program called Biomarker Assist, designed to help more patients with non-small cell lung cancer gain access to biomarker testing. “Approximately half of all patients with non-small cell lung cancer have oncogene biomarkers, yet despite the integral role that biomarkers play in lung cancer to identify patients who may benefit from targeted therapies, many patients are not tested,” said Darryl Sleep, M.D., chief medical officer and senior vice president of Global Medical at Amgen. This biomarker testing is a clinical first step in getting patients the right treatment. Thus, Biomarker Assist, aims to close the gap in testing rates and allow eligible patients to save on biomarker testing.

In other news, the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation for Amgen’s bemarituzumab, a first-in-class investigational targeted antibody acquired through Amgen’s acquisition of Five Prime Therapeutics back in early March 2021. Bemarituzumab will be used as treatment for patients with fibroblast growth factor 2b (FGFR2b) overexpressing and human epidermal growth growth factor receptor 2 (HER2)-negative metastatic and locally advanced gastric and gastroesophageal (GEJ) adenocarcinoma in combination with modified FOLFOX6 (fluoropyrimidine, leucovorin, and oxaliplatin). Overall, this is a great step forward in their Oncology portfolio, and it will be interesting to see what comes next. 

Julia Martin

Ticker: TSLA
Name: Tesla, Inc.
Number of Shares Outstanding: 963.33M 
Market Capitalization: $544.147B

Stock Price History

May 3, 2021 $684.90

May 4, 2021 $673.60

May 5, 2021 $670.94 

May 6, 2021 $663.54 

May 7, 3021 $672.37 

May 10, 2021 $629.04 

May 11, 2021 $617.20

May 12, 2021 $589.89

May 13, 2021 $571.69 

May 14, 2021 $589.60 

Tesla, Inc., produces electric vehicles and clean energy generation, storage and consumption solutions. Tesla is focused on accelerating the integration of clean energy transportation and production into society in order to more quickly achieve a zero-emission future. Additionally, all of the new automotive products include self-driving capabilities, and continuing to develop this Autopilot capability is at the core of Tesla. 

Tesla’s stock price has steadily dropped since they released their 2021 quarter 1 earnings report on April 26, 2021 when its stock was priced at $738.20. 

Tesla previously considered transitioning its Shanghai Gigafactory to become a global production facility as it is currently designed to only produce approximately 500,000 vehicles per year. However, it has halted these expansion plans as the Biden administration has continued to impose the 25% tariff on imported Chinese electric vehicles that was established by the Trump administration. Tesla does currently export Model 3 vehicles from China to Europe. As the Berlin Gigafactory is delayed until 2022 to begin production, Tesla will continue to rely on the Shanghai Gigafactory for European customers. Tesla has not announced any further plans for the Shanghai Gigafactory, but it is very likely that it will expand the facility in the near future as it grows its position in the Chinese market and the world. 

Additionally, Elon Musk announced on May 12 that Tesla will no longer accept Bitcoin as a form of payment for Tesla vehicles, citing energy and climate change concerns. Bitcoin mining consumes more than 120 Terawatt Hours per year, which is more than entire countries such as Sweden, Malaysia and Argentina. So Tesla will not be selling or accepting bitcoin until a more sustainable mining method is developed. 

Asher Nyhoff

Ticker: NKE
Name: NIKE, Inc.
Number of Shares Outstanding: 1.27B
Market Capitalization: $210.188B

Stock Price History:

April 30, 2021 $132.62

May 3, 2021 $133.03

May 4, 2021 $131.55

May 5, 2021 $132.21

May 6, 2021 $133.49

May 7, 2021                     $137.81

May 10, 2021 $136.40

May 11, 2021 $137.12

May 12, 2021 $133.39

May 13, 2021 $133.61

May 14, 2021 $135.93

NIKE’s stock price reached a high of $138.85 on May 7, indicating the possibility of positive investor sentiment in NIKE’s favor. However, NIKE has since experienced a continual decline in stock price over the week. Jeffries analysts changed NKE’s rating from Hold to Buy on May 11, upgrading its target price from $140 to $192. As such, investors remain largely confident in NIKE’s long-term prospects.

Regarding the Covid-19 pandemic, NIKE has announced a phased return to office plan that would emphasize flexibility and balance between individual and corporate interests. NIKE referenced the importance of collaboration in the design and creation process as an important factor in decision making. This location-specific model will allow for three days in office and two days at home, taking into account employee concerns and work-environment preferences.

Elizabeth Orecchia

Ticker: HLT
Name: Hilton
Shares Outstanding = 277.45M
Market Cap = $34.52B

Stock Price History

April 16, 2021 $128.05

April 19, 2021 $125.23

April 20, 2021 $122.22

April 21, 2021 $123.91

April 22, 2021 $125.50

April 23, 2021 $127.40

April 26, 2021 $127.57

April 27, 2021 $130.01

April 28, 2021 $129.11

April 29, 2021 $129.90

Hilton Worldwide Holdings Inc. was founded in 1919 and is headquartered in McLean, Virginia. They own, lease, manage, develop, and franchise hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. As of December 31, 2020, the company had approximately 6,478 properties operating under the Hilton label, with over 1,000,000 rooms in 119 countries and territories.

Number of hotel rooms = 1,019,287

Market capitalization of the company at 52 week high stock price = 35,768,854,000 

Market capitalization of the company at 52 week low stock price = 17,332,301,500

Market capitalization of the company at 52 week high stock price / Number of hotel rooms = 35,092

Market capitalization of the company at 52 week low stock price / Number of hotel rooms = 17,004

Recently at HLT: Hilton released their 2020 ESG report last Tuesday, April 20,th reinforcing their commitment to positive global impact

• Through Hilton’s Travel with Purpose program, the company continues to take important steps to integrate positive social impact and environmental stewardship throughout its operations, communities and supply chain.

• Named the 2020 Global Industry Leader on the Dow Jones Sustainability Indices, the most prestigious ranking for corporate responsibility and sustainability performance, for the second consecutive year’

• Recognized just last week as one of the Best Companies to Work For in the U.S. by Great Place to Work and Fortune for the sixth consecutive year, including earning the #1 spot in 2020 and #3 in 2021 – as well as being ranked the #3 World’s Best Workplace and achieving a #1 ranking in seven countries around the world in 2020

• Ranked #2 on DiversityInc’s Top 50 Companies for Diversity list; and

• Named to the 100 Best Corporate Citizens of 2020 list, the only global hotel brand recognized.

• Q1 2021 Earnings Release Date: Pre-Market on May 5, 2021

Kat Paradise

Ticker: NTRS
Name: The Northern Trust Corporation
Number of Shares Outstanding: 208.11M 
Market Capitalization: $24.12B
Stock Price History:

April 23, 2021 $109.53

April 26, 2021 $109.16

April 27, 2021 $111.18

April 28, 2021 $111.84

April 29, 2021 $114.41

April 30, 2021 $113.80

May 3, 2021 $114.79

May 4, 2021 $114.79

May 5, 2021 $115.32

May 6, 2021 $117.46

May 7, 2021 $119.20

May 10, 2021 $120.18

May 11, 2021 $118.40

May 12, 2021 $116.35

May 13, 2021 $118.82  

The Northern Trust Corporation is a preeminent global financial institution that provides asset servicing, investment management and wealth management services for institutions along with high-net worth individuals and families. In recent news, Northern Trust Asset Management announced the introduction of its ESG Vector Score, which is a measurement that assesses publicly traded companies in the context of financially relevant environmental, social and governance (ESG) related criteria that could impact their operating performance. It can be used in constructing and managing investment portfolios and stewardship activities. The ESG Vector Score focuses on the magnitude and direction of key ESG related business issues likely to have a financial impact on companies and hence a portfolio’s performance. It provides a consistent, transparent methodology to gain greater clarity when building and managing sustainable portfolios. Northern Trust’s industry-first approach marries two leading sustainability disclosure standards and frameworks – the Sustainability Accounting Standards Board’s (SASB) Standards, which are industry-specific sustainability disclosure standards focused on financial materiality, and the thematic structure of the Task Force on Climate-Related Financial Disclosures’ (TCFD) Recommendations. The design enables more purposeful and transparent integration of ESG considerations into investment processes, addressing the need for a consistent way to measure and report on ESG investments.

Max Pumilia

Ticker: LOW
Name: Lowe’s Companies Inc
Number of Shares Outstanding: 731M
Market Capitalization: $148.7B

Stock Price History

May 3, 2021 $199.20

May 4, 2021 $200.30

May 5, 2021 $200.00

May 6, 2021 $205.94

May 7, 2021 $208.40

May 10, 2021 $211.31

May 11, 2021 $205.34

May 12, 2021 $195.54

May 13, 2021 $200.34

May 14, 2021 $198.12

Lowe’s Companies, Inc. is an American retailer specializing in home improvement products. With almost 2,200 locations and more than 300,000 employees across the U.S. and Canada, Lowe’s has firmly established itself as the second-largest retailer in its industry, trailing only Home Depot. In 2020, Lowe’s posted its most successful year ever, servicing approximately 20 million customers weekly and generating $90 billion in annual sales. These sales, a product of the consumer’s increased interest in home improvement through the COVID-19 pandemic, represent an almost 24% increase in revenue year over year. Comparatively, between 2016 and 2019, revenue saw under 3% annualized growth. Valuations have reflected the operational success of this period: stock prices have grown more than 50% since the start of 2020 and more than tripled since the low point of the pandemic.

The company’s positive momentum and excitement surrounding its upcoming earnings report continued into the early part of this week, but the stock tracked with general market trends and experienced a significant selloff through the middle of the week. Nevertheless, this adjustment does not seem to be correlated with the actual performance of Lowe’s, so in fact, this trend could prove a valuable opportunity for investors to get into the stock at a more attractive price ahead of next week’s earnings report.

Taurus Samuels

Ticker: TGT
Name: Target Corporation
Number of Shares Outstanding: 497.57M (as of May 13, 2021)
Market Capitalization: $103.798B (as of May 13, 2021)

Stock Price History: 

April 30, 2021 $207.26

May 03, 2021 $211.28

May 04, 2021 $211.61

May 05, 2021 $212.41

May 06, 2021 $213.00

May 07, 2021 $214.71

May 10, 2021 $214.03

May 11, 2021 $209.24

May 12, 2021 $202.96

May 13, 2021 $208.61

Target Corporation is a retailer based in Minneapolis, Minnesota, founded in 1902. As of January 30, 2021, it has over 1,500 stores across the United States. It offers an array of products to its customers, such as various merchandise, everyday essential items, clothing and food. In many of its locations, it has also partnered with other companies, such as CVS Pharmacy, Inc. to provide its customers with access to a pharmacy when shopping at their stores. 

On Monday, May 10, the Biden administration announced that health care providers cannot discriminate against transgender patients, reversing a policy put in place by Trump. This led to many Republican-backed bills that were intended to restrict the rights of the LGTBQ+ community. Because of this, much of corporate America spoke out against these bills and against the anti-LGBTQ+ actions. About 95 companies spoke out against the anti-LGBTQ+ bills in a letter that was written with the Human Rights Campaign. After Yahoo Finance did some outreach to some other companies, even more of them, including companies in the top 50 of the Fortune 500 added their names to this letter to speak out against these bills. However, when asked to speak on the topic, Target declined to respond or comment directly on the bill. After having traded at 52-week highs last week and the beginning of this week at around $217.34, Target saw its stock drop to approximately $203.12. This, paired with the 4.2% year-over-year rise of inflation, were two main factors causing Target’s stock to drop from some all time highs this past week. 

Investors should feel confident about Target heading into its earnings call next week. Share estimates have risen to $2.25 per share as compared to their previous estimates of $2.09. This suggests that many analysts have bumped up some of their estimates for Target, alluding to the fact that they are confident that Target will beat out its earnings estimates. This can allow investors to feel confident about the stock and give them clarity in knowing that Target is continuing to grow and show signs of success. 

Togetherism™ is Blue Room™’s nonprofit arm.

10% OF ALL BLUE ROOM REVENUES GO DIRECTLY TO FUND OUR NON PROFIT TOGETHERISM.
WE CAN ACCOMPLISH ANYTHING TOGETHER.