Rippers Recap 3/4: Here's What Happened in the Stock Market This Past Week

StockMKTNewz Evan
March 05, 2022

Hey Rippers fam!

Hey everyone, it’s Evan! But I’m better known online as @StockMKTNewz. If you know me, you know I tweet way too much for any sane person to track. So, I thought I would narrow down my hundreds of tweets to get you caught up here in under 5 minutes on all the news from today you need to know! 

Let me know what you think of this new daily format, my DMs on Twitter and Instagram are open! Today, we're covering the market recap, the latest earnings reports, biggest headlines, and more!

Here's How The Stock Market Performed This Past Week

The Major Indexes

Heat Map of the S&P 500

How The Largest Stocks Performed

Best Performing Large Cap Stocks

Worst Performing Large Cap Stocks

**All images are via Finviz.com**

Major Earnings Headlines

Lucid ($LCID) reported earnings Monday after the markets closed, posting numbers of

  • EPS of -$0.64, missing expectations of $0.9
  • Rev of $26.4M, missing expectations of $36.7M

Lucid cut its Fiscal Year 2022 production guide to between 12K and 14K units down from prior estimates of 20K units.

Zoom ($ZM) reported earnings Monday after the markets closed, posting numbers of:

  • EPS of $1.29, beating expectations $1.05
  • Rev of $1.07B, beating expectations of $1.05B

$ZM announced a new $1B share buyback program.

AMC ($AMC) reported earnings Tuesday after the markets closed, posting numbers of:

  • EPS of -$0.11 beating expectations of -$0.26
  • Rev of $1.17B beating expectations of $1.09B

SoFi ($SOFI) reported earnings Tuesday after the markets closed, posting numbers of:

  • EPS of -$0.15 beating expectations -$0.17 
  • Rev of $279.88M beating expectations of $279.3M

Sofi said in 2022 it expects revenue to come in at $1.57B above Wall ST estimates of $1.45B.

Salesforce ($CRM) reported earnings Tuesday after the markets closed, posting numbers of:

  • EPS of $0.84 beating expectations of $0.75 
  • Rev of $7.33B beating expectations of $7.24B

Salesforce raised its revenue guide for the upcoming year to between $32-$32.1B up from its previous guide of between $31.65-$31.8B and above consensus estimates of $31.78B.

Snowflake ($SNOW) reported earnings Wednesday after the markets closed, posting numbers of:

  • EPS of -$0.43 missing expectations of $0.03 
  • Rev of $383.8M beating expectations of $372M

Snowflake announced its intention to acquire Streamlit (via Businesswire).

Costco ($COST) reported earnings Thursday after the markets closed, posting numbers of:

  • EPS of $2.92 beating expectations of $2.73 
  • Rev of $51.9B beating expectations of $51.37B

Major Headlines

Monday:

  • Amazon customers can now connect with Teladoc healthcare providers through Echo devices - The Verge 
  • EBay is studying the possibility of adding cryptocurrencies as possible means of payment- The Street

Tuesday:

  • The Marvel films removed from Netflix including Daredevil, Jessica Jones, Luke Cage, Agents of S.H.I.E.L.D and more will be added to Disney+ on March 16th - Marvel 
  • Nvidia confirmed a hacker leaked employee credentials and some company proprietary information online but the company did add that business activities continue uninterrupted - Reuters 
  • Nancy Pelosi disclosed that she exercised her call options in American Express, Apple, PayPal and Disney in mid January

Wednesday:

  • Google owned Fitbit is recalling its "Iconic" smartwatch due to the watch’s lithium-ion battery overheating causing 78 reports of burns, Fitbit is refunding owners $299 - The Verge 
  • Apple announced it will be hosting an event titled "Peak Performance" on March 8th starting at 1PM EST Toyota filed multiple patent applications for an Electric Vehicle with a manual transmission - BZForums 
  • Ford confirmed it's creating 2 distinct auto units under Ford's corporate umbrella for its ICE and EV business units. Ford’s EV business will be called Ford Model E while its ICE business will be called Ford Blue. Ford also announced on Wednesday its selling its electric scooter business Spin to Germany based Tier Mobility - The Verge 
  • Netflix announced it made an offer to acquire video game maker Next Games for around $72 Million - CNBC

Thursday:

  • SoFi announced it completed its acquisition of Technisys 
  • Panasonic plans to construct a new “large scale” battery factory in the US to supply Tesla - Bloomberg 
  • Rivian is backtracking on its previous price hike for existing orders, Now saying that anyone with a Rivian preorder as of March 1st will pay the original agreed price - Electrek 
  • Amazon said it plans to close all 68 of its brick-and-mortar bookstores, pop-ups and shops in the US and UK - Reuters

Friday:

  • Sony and Honda signed a memorandum of understanding to jointly develop electric vehicles, with the first car becoming available commercially in 2025 - Nikkei Asia 
  • Disney confirmed it will introduce an new cheaper ad-supported tier of Disney+ in late 2022 with plans to expand internationally in 2023 - Axios 
  • Microsoft announced it completed its acquisition of Nuance 
  • Apple is reportedly exploring a plan to buy all the NFL's available rights in a single multibillion-dollar deal - Front Office Sports
  • Tesla received conditional approval for its German Gigafactory to start commercial production - CNBC

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Next Week

Economic Calendar:

Earnigs Calendar:

That's it for today — thanks for reading Rippers! Stay bullish, and we'll see you all in the next one 🔥 In the meantime, check out our weekly Twitter Spaces and give us a follow on Twitter!

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