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November was a great month for the stock market, but investors tried to start December with the same kind of bullish momentum. Market participants often look for bullish moves to end a year, especially when the stock market as a whole has seen a strong rally. This certainly was the case in 2020, as stocks rallied sharply from the coronavirus-inspired bear market in March and gained ground with only slight corrections since.
The main market benchmarks seemed poised to question their recent records. Starting at 11:00 a.m. EST, Dow Jones Industrial Average (DJ INDICES: ^ DJI) was up 375 points to 30,013. S&P 500 (SNPINDEX: ^ GSPC) won 48 points to 3670, and the Nasdaq composite (NASDAQINDEX: ^ IXIC) improved from 126 points to 12325.
Many investors came this week believing that one of the hot new tech entrants of the past few years would be able to lead the global market up. Still, it turns out that a few well-known names that have been around for a long time – Blackberry (NYSE: BB) and Kohl’s (NYSE: KSS) – were among the biggest winners on Tuesday morning.
BlackBerry is back!
BlackBerry shares climbed 57% on Tuesday morning. The maker of what was once the most popular portable mobile device has seen a major shift in its business model in recent years, but a new deal could make the company relevant again in a rapidly growing field.
BlackBerry is ready to work in partnership with Amazon.comof (NASDAQ: AMZN) The Amazon Web Services division to promote BlackBerry’s intelligent vehicle data platform. The cloud-connected software platform is designed to provide automakers with the vehicle sensor data they need to tailor on-board services to the specific needs of drivers. BlackBerry hopes to unify the wide array of parts and component suppliers in a way that takes the task of integrating data from automakers’ license plates, allowing them to focus on what they do best.
The potential uses of the BlackBerry platform are almost limitless. Adverse driving conditions, such as traffic or inclement weather, could prompt BlackBerry compatible vehicles to activate safety features, while monitors could check young drivers for safety reasons or provide alerts when safety locks occur. for children are not properly engaged.
This is not the first time that BlackBerry has worked with Amazon. But with all the attention paid to automotive innovation, BlackBerry is making the right choice at the right time. Investors recognize it today and it has brought the BlackBerry name back into the limelight.
Image source: Sephora.
Kohl’s looks much prettier
Elsewhere, Kohl’s saw its stock jump 15%. The retailer has had a difficult year, but a new strategic move could improve the situation in 2021 and beyond.
Kohl’s has entered into a strategic partnership with Sephora to open “Sephora at Kohl’s” in-store boutiques. The arrangement will cover 200 stores by the end of 2021, with the goal of increasing to 850 by 2023. Sephora will also appear on the Kohls.com site as part of what it calls “its beauty experiment. of unique immersive prestige ”.
The movement looks like a strong response to Targetof (NYSE: TGT) recent decision to open in store Ulta Beauty (NASDAQ: ULTA) stores to hundreds of locations in the next few years. It also aligns with Kohl’s long-term strategy of focusing on the active, relaxed lifestyle, with a beauty segment that stands up to buyers’ scrutiny. Retail stocks have struggled, but Kohl’s is looking up.
It’s good to see a day when recent IPOs take over established companies. Moreover, it signals a widening of the bull market, which in turn could help investors achieve even more gains in the future.
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