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  • Rippers Weekly Recap 11/19: Layoffs, 13Fs and Much Much More

Rippers Weekly Recap 11/19: Layoffs, 13Fs and Much Much More

Hey everyone, it’s @StockMKTNewz Evan! You can always see the moves I make and what individual stocks I own on my Savvy Trader Portfolio.

I started writing this newsletter to make sure you never miss anything important from the week in the market. I want you all 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 one). So, if you’re interested in a story or image, click in and explore!

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Major Earnings

Walmart reported earnings Tuesday before the market opened, posting numbers of:

  • EPS of $1.50, beating expectations of $1.32

  • Revenue of $152.8B, beating expectations of $147.5B

Walmart approved a new $20B share buyback program.

Home Depot reported earnings Tuesday before the market opened, posting numbers of:

  • EPS of $4.24, beating expectations of $4.13

  • Revenue of $38.9B, beating expectations of $38B

Target reported earnings Wednesday before the market opened, posting numbers of:

  • EPS of $2.44, missing expectations of $2.49

  • Revenue of $9.5B, beating expectations of $9.41B

Target said people stealing from its stores reduced its gross profit margin by $400M so far in 2022 compared to 2021.

Nvidia reported earnings Wednesday after the market closed, posting numbers of:

  • EPS of $0.58, missing expectations of $0.70

  • Revenue of $5.93B, beating expectations of $5.8B

I put out a full cheat sheet with everything you need to know about Nvidia’s earnings, which you can read here.

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

  • EPS of $1.81, beating expectations of $1.57

  • Revenue of $28.95B, missing expectations of $29.19B

Alibaba approved a $15B increase to its share buyback program.

Major Headlines From This Week


  • ​Warren Buffett's Berkshire Hathaway started a new 60.1 million share position in Taiwan Semiconductor during Q3 - Reuters

  • FedEx's freight unit plans to furlough workers - Reuters 

  • Sea Limited has fired more than 7,000 employees (around 10% of its workforce) over the last 6 months - The Information

  • The Saudi Public Investment Fund bought 4.05 million shares of Google during Q3 - Arab News

  • The SEC is charging S&P global ratings with conflict of interest violations regarding a 2017 MBS transaction - SMN

  • Michael Lewis, the writer behind The Big Short and Money Ball, has been traveling with and interviewing Sam Bankman-Fried for the last 6 months and plans to write his next book on the FTX founder - CoinDesk 

  • Amazon announced plans to lay off about 10,000 employees - New York Times

  • Disney’s Black Panther: Wakanda Forever brought in $331.3 million at the global box office in its opening weekend - Hollywood Reporter

  • The US Army has begun testing SpaceX's Starlink satellite internet in remote Arctic bases - Bloomberg

  • Federal appeals court blocked Biden’s student debt relief program nationwide - CNBC

  • Illumina is firing 5% of its global workforce - Reuters

  • Apple is offering a rare discount of up to 10% on Macs for businesses buying in bulk - Bloomberg

  • Elliott Management increased its stake in Pinterest to 15 million shares during Q3 - Rueters

  • Apple job listings suggest the company is building its own metaverse for its long-rumored headset - Insider

  • Alameda was reportedly buying crypto tokens ahead of their listing on FTX over the last year - WSJ

  • More than 33% of all UK pubs and restaurants have cut their hours to save on energy bills - Reuters

  • Tyson Foods said its automation projects are moving faster than expected, allowing them to shift workers away from more “laborious” jobs - Bloomberg

  • Microsoft unveiled a new software to ease supply-chain disruptions - Microsoft

  • Google has agreed to pay $391.5 million to states over location tracking - TechCrunch

  • Nike plans to open a virtual sneaker shop and trading platform called .swoosh - Bloomberg

  • Apple CEO Tim Cook said the company has slowed down some hiring - CBS News

  • Bird overstated the revenue it received from its shared electric scooters for at least two years, according to a new filing with the SEC - TechCrunch 

  • Poland plans to seize Gazprom's pipeline assets in Poland - Reuters


  • US PPI for October came in at +8% YoY, below expectations of +8.3% YoY - FXStreet

  • US PPI for October came in at +0.2% MoM below expectations of +0.4% MoM - CNBC

  • Former Tesla Australia Director Kurt Schlosser pleads guilty to insider trading - Reuters

  • Apple says it’s made a decision to source chips from Arizona, rumored to be in reference to TSMC - Bloomberg

  • The president of Poland said there’s nothing that proves there was an intentional attack on Poland - Euro News

  • Meta's India public policy chief and WhatsApp's India boss quit - Rueters

  • Donald Trump formally entered the 2024 US Presidential race - CNN

  • 68% of Americans now say they support marijuana legalization - Gallup

  • The Pentagon told Congress today it’s $1.4 billion short of funds needed for the next major contract to buy F-35 fighter jets from Lockheed Martin - Bloomberg

  • Nike increased its quarterly cash dividend to $0.340 per share from $0.305 per share - Business Wire

  • Tesla's chairman of the board Robyn Denholm said got good value by agreeing to pay Elon Musk approximately $55 billion to be its CEO - CNN

  • New York City taxis are increasing metered fares by 23%, the first increase since 2012 - Bloomberg

  • Walmart agreed to pay $3.1B to settle opioid crisis lawsuits brought by several US states and municipalities - WSJ

  • Meta cut 871 jobs at three locations in New York City - Patch

  • Stanley Druckenmiller’s Duquesne bought $102M of Amazon during Q3 after selling its entire $199M Amazon stake in Q2 - Bloomberg

  • Google owned YouTube is planning to bring shopping features to its YouTube Shorts video service - Financial Times 

  • Amazon announced the launch of Amazon Clinic, a virtual healthcare service - CNBC


  • Nvidia announced a multi-year partnership with Microsoft to "build one of the most powerful AI supercomputers in the world” - Silicon Republic

  • Disney acquired a half built cruise ship - Bloomberg

  • Amazon Web Services is asking managers to weed out underperforming workers on teams that have grown too fast, and will extend a hiring freeze for most teams in 2023 - Fortune

  • A six-figure salary is now needed to be able to afford the typical US home - Bloomberg

  • Tesla shareholder says Elon Musk identified a potential successor in the 'last few months' - Reuters 

  • Robinhood released its October operating data, with monthly active users of 12.5M up from 12.2M last month - Robinhood

  • American Express and Square plan to launch a new credit card built specifically for Square sellers - Yahoo 

  • Airbnb now has more than 4 million hosts on its platform - TechCrunch


  • Visa announced the appointment of Ryan McInerney as its next CEO, effective February 1st. - CNBC

  • Facebook fired or disciplined more than two dozen employees and contractors over the last year. - WSJ

  • Elon Musk is softening his remote work mandate as fewer workers than expected opted into Elon’s ultimadum to stay at Twitter - Fortune

  • Twitter temporarily closed its office and suspended building access - Entrepreneur 

  • Nvidia and Lockheed Martin announced a new partnership to "build an artificial intelligence-driven Earth Observations Digital Twin that will provide the National Oceanic and Atmospheric Administration" - Nvidia News

  • Roku fired 5% of its US workforce, about 200 employees - Hollywood Reporter

  • Amazon CEO Andy Jassy sent a note to employees telling them the company will do another round of layoffs in early 2023 - Blog

  • The Biden administration will ask the Supreme Court to allow student the loan debt relief program to resume - CNBC

  • General Motors expects to build 400,000 EVs in North America from 2022 through the first half of 2024 and grow capacity to 1M units annually in North America by 2025 - Benzinga

  • UberEats wants to add thousands of New York City bodegas to its delivery app - NYP

  • US House Speaker Nancy Pelosi said she will not seek re-election to Democratic leadership and will continue as a member of the US House - CNBC

  • Amazon is raising outbound fufillment fee rates by an average of $0.22 - Benzinga

  • Microsoft is dropping the price of its Xbox Series S console to $249.99 for the holidays - The Verge 

  • The MLB's Atlanta Braves will soon be a public company after Liberty Media announced plans to spin off the team - Yahoo


  • Theranos founder Elizabeth Holmes sentenced to 11.25 years in prison - CNN

  • The Justice Department said it plans to investigate Ticketmaster’s parent company over anti-trust concerns - New York Times

  • President Biden said he will sign a bill making it easier for researchers and manufacturers to study marijuana after it was passed by congress - Marijuana Moment

  • Qatar is set to ban all beer sales at and around its World Cup stadiums.This is two days before the tournament begins and after Budweiser spent $75M to be a tournament sponsor - CNBC

  • Carvana is cutting 1,500 jobs, or 8% of its workforce - Reuters

  • General Motors is now servicing Teslas at its dealerships, and the automaker actually sees it as a growing business - InsideEVs 

  • The White House announced $13B in new funding to modernize the US electric grid - Reuters

  • Mark Zuckerberg told Meta employees that WhatsApp and Messenger are what will drive its next wave of sales growth - Reuters

  • DraftKings will launch its online sportsbook in Maryland on November 23 - Global Newswire

  • FED’s Collins: 75 basis points at next meeting still on table - Reuters 

  • FED’S Kashkari: “The entire concept of crypto is nonsense” - WSJ

Get Prepared For Next Week

Economic Calendar

Earnings Calendar

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