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Public.com presents the rundown, your daily market update in 10 minutes. My name is Zaydad Mani, and Today is Monday, May 11th. In today's episode, we'll preview this upcoming week, including multiple inflation reports. We'll also tell you why pharma stocks are surging on the Hantavirus headlines and whether Moderna can pull off another Covid era run. Then stick around to the end of the show to find out why Jalen Brunson might be hopping on an earnings call soon. We got a great show for you today. Let's go. Stocks continue to roll. Both the S and P and Nasdaq are coming off their sixth straight week of gains. The S&P 500 jumped 2.4% last week while the Nasdaq surged four and a half percent. And this rally right now is being carried by chip stocks. The socks semiconductor index was up over 10% last week alone and, and it's now gone up 65% on the year. And if you look over just the last six weeks, semiconductor companies have added roughly $3.8 trillion in market cap. Some of the biggest winners so far include intel, which is up nearly 240% this year, Micron, which is up 160% and AMD, which is up 110%. And I can't forget about SanDisk. It's the best performing stock in the S&P 500, up 550% this year. By the way, we actually did a deep dive over the weekend about chip stocks and whether or not we're in a bubble. Right. We've gotten some great feedback on that episode. So definitely go check it out if you haven't already. Now zooming out, this chip rally is one part of the story. I think. The other part though is the overall incredible earnings season. Nearly 90% of the S P 500 companies have reported earnings by now and about 84 have beat on earnings estimates. And this is the stat that blows my mind. Overall earnings growth is tracking to rise 28 compared to Q1 of last year, which would be the strongest growth rate since 2021. I mean, a 8% earnings growth is just insane. And that's another reason why stocks keep grinding higher despite everything else happening in the world. Speaking of which, we did get an update on the Iran situation over the weekend. President Trump rejected Iran's latest response to a peace proposal, calling it totally unacceptable. So the Strait of Hormuz remains effectively closed and as a result, oil prices are ticking higher. This morning. WTI is trading around $97 a barrel and Brent crude is above $103. You know, the biggest economic impact from the Iran war has been elevated oil and the impact that's having on inflation. We're actually going to be getting inflation data this week. The April CPI report drops on Tuesday morning, and current estimates are calling for the largest monthly jump in inflation since 2022, driven mostly by higher oil and gas prices. So we'll see what those official numbers come in at tomorrow morning. We're also getting the PPI wholesale inflation report on Wednesday. Oh, and then on Thursday we're getting the retail sales data. So. So we'll see what kind of impact higher prices are having on consumers. So a very interesting week coming up. A lot of macro data to talk about along with some earnings mixed in as well. So it's a great time to get subscribed to the podcast if you haven't already, and tune in every day to stay in the loop. Let's run through some headlines, starting with the hantavirus. Wall street is starting to pay attention to the hantavirus, and several pharma stocks are jumping this morning as a result. Now, quick background here. The hantavirus is a deadly respiratory disease typically spread by rodents. It was recently flagged by the World Health Organization after an outbreak on a cruise ship. And so far the WHO has confirmed just six cases and three passengers have died. But the market is starting to get Covid flashbacks, and that's why covet favorite Moderna is spiking right now. The Stock was up 12% on Friday and it's up another 5% this morning after the pharma company confirmed it has done early stage research on the hantavirus with the US Army. I'm sure a lot of you guys remember, you know, Moderna became a household name during COVID after launching one of the authorized vaccines. And the impact that it had on their business was just crazy. Before COVID Moderna was doing about $60 million a year in revenue. But then once Covid hit and they launched their vaccine, revenues catapulted to $18.5 billion in 2021 and peaked at 19. $3 billion in 2022. It was one of the most dramatic revenue spikes in modern corporate history. And it was all because of the vaccine. In fact, 96% of 2021 revenues came from the vaccine. But since then, revenue has fallen off a cliff and so has the stock price. Moderna did less than $2 billion in revenue last year, and their stock is down around 85% since its peak back in 2020. 1. But investors are now betting that a potential hantavirus vaccine could provide a boost to revenue again. That being said, point out that the CDC says that the risk to American public remains extremely low and health authorities have stressed that human transmission is rare. Plus, a Wall street analyst at Evercore put out a note on Thursday saying that Moderna has no meaningful revenue opportunities from the hantavirus and basically just trades on outbreak headlines. So this might just be a short term pop. Regardless though, that hasn't stopped investors from speculating. If the hantavirus stays in the headlines, pharma stocks could be pretty volatile for the next few weeks. Let's shift gears and talk about Circle because the company behind the USDC Stablecoin, just made a big move that could reshape its business. First up, let's talk about Circle's earnings, which they announced this morning. It was a mixed bag. Revenues grew 20% to $694 million which missed estimates, but earnings of 21 cents per share did beat. The bigger story though is that circle just raised $222 million in a pre sale for something called Ark, which is a brand new blockchain designed specifically for big financial institutions. And Circle has some heavy hitters that are investing BlackRock, Apollo, Ark Invest, Andreessen Horowitz and also the parent company of the New York Stock Exchange. Circle CEO said the company is essentially building an operating system for the financial Internet. The vision is that stablecoins become the default way that money moves on the Internet, especially with the rise of AI agents making payments and transactions on their own. So we'll see that ends up materializing. And you know, Circle stock has been on a wild ride since it IPO'd back in June of last year. Shares are up around 40% from the IPO price, but down more than 50% from the post IPO pop. Now one of the risks for Circle is that it's too reliant on interest rates. Right now Circle makes most of its money from the interest it earns on the US Government bonds it holds to back the USDC stablecoin. So if interest rates come down, then that's a direct hit to their profits. Not to mention there's growing competition as banks and fintech companies start launching their own stablecoins which could eat into Circle's market share. But look at this Ark blockchain thing becomes the new rails of the digital economy. That could be huge for the company and it helps that a lot of big name Wall street firms are backing that vision. Let's talk about some stocks making moves today. Sharesofmonday.com are surging this morning after the software company blew earnings expectations out of the water. Revenues jumped 24 to $351 million, driven by its new AI platform. See Monday.com makes work management software, think project tracking, task management, CRM, that kind of stuff. And the stock has been getting absolutely crushed this year, down 50% heading into this earnings report because investors were worried that AI would make a lot of enterprise software obsolete. But the reality is AI is helping these enterprise software companies. Monday.com for example, rolled out an AI agent builder and AI powered tools that can do things like source sales leads and handle customer outreach automatically. And that's starting to pick up adoption across their customers. So instead of AI becoming a threat to Monday.com, it's becoming a growth driver. The company raised its 2026 revenue guidance and reported that the number of big enterprise customers spending over $500,000 a year jumped 74%. So as a result, shares of Monday.com are up around 20% this morning at the time of this recording. Now, flip side, Nintendo shares are plummeting after the gaming company warned that sales of the Nintendo Switch 2 would fall this year. Nintendo expects Switch 2 sales to come in at 16.5 million units this year, which would be down from the nearly 20 million units sold last year when it was released. And then to make matters worse, Nintendo is planning to increase the price of the Switch 2, taking it from 450 up to 500 in the US starting on September 1 because of rising memory chip prices. And then investors are also worried about the gaming pipeline coming out of Nintendo. Nintendo expects game sales across the original switch and switch 2 to fall about 11% this year. So you can see why investors are a bit worried. Nintendo stock is down around 8% in Tokyo today and now down 34% for the year. Let's wrap the show with a fun fact. You can currently buy stock in the New York Knicks basketball team, sort of. See, the Knicks are owned by a company called Madison Square Garden Sports, which trades on the New York Stock Exchange under ticker symbol msgs. Now, this company also owns the NHL hockey team New York Rangers. And this stock has been on an absolute tear, up 70% over the last year and trading near all time highs. Now what's interesting is that back in February, MSG's board unanimously approved a plan to explore spinning off the Knicks and the Rangers into two separate publicly traded companies. And the reason they're doing this is that because MSG'S market cap today is currently around $8 billion, but the Knicks are estimated to be worth around $10 billion alone. Rangers are valued at around three and a half billion dollars. So as separate companies, that could unlock around four to five billion dollars in value. And look, with the way the Knicks are playing in the playoffs right now, they might be worth way more than $10 billion. So if I'm the owner, James Dolan, I'm doing the spin off tomorrow while the Knicks are still on fire. Now this would require the NBA and NHL's approval, but I hope it happens. I want to see them bring on like Jalen Brunson on one of the earnings calls or something. Well all right guys, that's the rundown for today. Hope you guys enjoyed today's episode. If you did and you have like five extra seconds, consider giving us a five star rating on Apple, Spotify, YouTube, wherever you listen to your podcast. All that engagement really does help us out and it helps other people find the show. Thank you guys so much for listening, watching and commenting. Shout out to Mike and Connor for all the work behind the scenes and we'll see you guys back here tomorrow.