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  • Rippers Weekly Recap 9/17: Inflation Came In Above Expectations, FedEx Warning, Adobe Acquisition and Much More

Rippers Weekly Recap 9/17: Inflation Came In Above Expectations, FedEx Warning, Adobe Acquisition and Much More

Hey everyone, it’s @StockMKTNewz Evan!

I started writing this newsletter to make sure you never miss anything important from the week in the market. I want you all to be able to understand the week's headlines in under five minutes, but also be able to spend hours digging through all the stories and pictures. To that end, I include a lot of links (Every picture has a link) -- so if you’re interested in a story or image, click in and explore!

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Earnings Headlines

Oracle reported earnings Monday after the market closed, posting numbers of:

  • EPS of $1.03, missing expectations of $1.07

  • Rev of $11.45B, missing expectations of $11.46B

Adobe reported earnings on Thursday before the market opened, posting numbers of:

  • EPS of $3.40, beating expectations of $3.33

  • Rev of $4.43B, in line with expectations

Adobe announced it entered into a definitive merger agreement to acquire Figma for ~$20 billion in cash and stock.

Major Headlines From This Week


  • US gasoline prices have fallen for 13 weeks in a row, the longest consecutive weekly slide in more than three years. - WSJ

  • President Biden signed an executive order to boost funding for the US biotechnology industry. - WH

  • Peloton Co-Founders John Foley And Hisao Kushi will be stepping from their roles at the company. - Newswire

  • Lucid is now reportedly manufacturing 40-50 cars per day. - WCCFTech

  • Google canceled the next version of its Pixelbook laptop and dissolved the team responsible for building it. - The Verge

  • Nvidia said its working with customers in China to provide them with alternative products to the A100, which is set to be banned. - SMN

  • Google officially closed on its acquisition of Mandiant. - The Verge

  • Fidelity Investments is weighing a plan to allow individual investors to trade Bitcoin on its brokerage platform. - WSJ

  • General Electric confirmed its targeting the first week of January 2023 to spin off its GE Healthcare unit. - SMN 

  • JPMorgan agreed to acquire California-based payments startup "Renovite." - BusinessWire

  • Tesla CFO Zach Kirkhorn filed for his sale of 3,750 shares of Tesla stock on 9/12 at an average price of $300.59 per share. - SEC


  • US CPI for August came in at 8.3% (YoY) above expectations of 8.1% - BLS

  • US Core CPI for August came in at 6.3% (YoY) below expectations of 6.1%

  • Tuesday was the worst trading day for the S&P 500, NASDAQ 100, and Dow Jones since June 11, 2020. - Visualized

  • Apple plans to add new spots for ads in the App Store by the end of the year. - CNBC

  • Twitter shareholders approved Elon Musk’s deal to buy the company with about 98.6% of the votes cast in favor of the deal. - Bloomberg

  • Amazon has selected DraftKings as its sponsor and exclusive odds provider for Thursday Night Football. - Action Network

  • Paramount is considering discontinuing its Showtime streaming service and shifting its content into Paramount+. - Deadline

  • YouTube said it paid the music industry over $6 billion from July 2021 to June 2022. - Youtube Blog

  • Peloton announced the national expansion of its rental program. - CNBC

  • Honda is planning to launch more than 10 new electric motorcycle models globally in the next 3 years. - Electrek

  • Former Disney CEO Bob Iger will join venture capital firm Thrive Capital as a venture partner. - Variety

  • Monday Night Football on ESPN had 19.85 million viewers tune into the game, making it the most watched Monday Night Football game since 2009. - ESPN


  • US PPI for August came in at 8.7% YoY below expectations of 8.8% - BLS

  • US PPI for August came in at -0.1% MoM in line with expectations

  • Apple surpassed Tesla as the stock with the highest total short interest. - MarketWatch

  • Disney CEO Bob Chapek suggests Hulu may be integrated into Disney+ in the US at some point. - Deadline

  • Comcast doubled its share buyback program to now be worth $20 billion. - Yahoo

  • President Biden announced the approval of $900 million in funding to build electric vehicle charging stations in 35 states. - Tech Crunch

  • Johnson & Johnson announced a new $5 billion share buyback program - Newsroom

  • CPI for the UK in August was +9.9% (YoY), below expectations of +10.2%. - SMN

  • Google canceled half the projects at its internal R&D group Area 120. - Tech Crunch

  • Netflix Animation laid off about 30 employees. - Deadline

  • Twilio laid off about 11% of its workforce. - CNBC 

  • Instagram introduced a new Instagram payments in chat feature. - Instagram

  • Comcast’s CEO said the big buyback approval probably signals no big M&A deal incoming. - Bloomberg


  • FedEx reported below expectation preliminary earnings citing weakening demand in global shipment volumes. FedEx withdrew its 2023 guidance and announced some cost-cutting measures. - CNBC

  • Texas Instruments announced a new $15 billion share buyback program and also increased its quarterly dividend to $1.24 per share, up from $1.10. - Newswire

  • Amazon and Apple reportedly both passed on the media rights to LIV Golf. - WSJ

  • Lockheed Martin delivered its highest powered laser to date to US Department Of Defense. - Lockheed

  • Senator Tommy Tuberville filed for his purchase of at least $101K worth of Intel. - Tweet

  • Roblox released its key metrics report for August, including 59.9 million daily active users and 4.7 billion total hours engaged. - BusinessWire

  • Kanye West formally notified Gap that he is terminating his partnership with the company. - CNBC


  • Tesla has now built a total of 10,000 Model Ys at Giga Texas. - Tweet

  • YouTube is gearing up to give Shorts creators a cut of ad revenue. - Tech Crunch

  • President Biden announced a tentative deal to avoid a rail strike. - WH

  • Google Cloud reportedly plans to unfreeze hiring by October. - Business Insider

  • Meta shares fell another 2.2%, closing at its lowest levels since March 2020. - SMN

Get Prepared For Next Week

Economic Calendar

The CME's FedWatch tool currently shows an 82% chance the FOMC raises rates by 75Bp point and an 18% chance of a 100Bps hike

Earnings Calendar

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