Rippers Weekly Recap 12/03: Tesla Delivers First Semi Trucks

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How The Stock Market Performed This Past Week

Heat Map of the S&P 500

How The Largest Stocks Performed

Best Performing Large Cap Stocks

Worst Performing Large Cap Stocks

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Major Earnings

CrowdStrike reported earnings Tuesday after the market closed, posting numbers of:

• EPS of $0.40, beating expectations of $0.31

• Revenue of $581M, beating expectations of $573.8M

Salesforce reported earnings Wednesday after the market opened, posting numbers of:

• EPS of $1.40, beating expectations of $1.21

• Revenue of $7.84B, beating expectations of $7.82B

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

• EPS of $0.11, beating expectations of $0.04

• Revenue of $557M, beating expectations of $539.1M

Major Headlines From This Week

Monday:

• Tesla is developing a revamped Model 3 for production starting in Q3 202 that is codenamed 'highland,' which will focus on a redesigned interior and reducing costs - CleanTechnica

• Disney CEO Bob Iger told employees that Disney must shift its focus toward making its streaming business profitable rather than concentrating on just adding subscribers - Yahoo

• Apple is likely to have a production shortfall of 6M iPhones due to turmoil at the largest Foxconn iPhone plant in China - Bloomberg

• Snap has asked employees to spend 4 days per week in office - CNet

• Meta was fined $277M in the EU for failing to prevent millions of Facebook users' mobile phone numbers and other data from being scraped and dumped online - Engadget

• The Biden administration plans to offer hundreds of thousands of acres off the coast of Alaska for new oil and gas drilling next month - Bloomberg

• Amazon is shutting down its wholesale distribution business in India - TechCrunch

• US TSA screened 2.56M air travelers on Sunday, the busiest day since December 2019 - Reuters

• IBM plans to establish a new service center in Taiwan with plans to increase its total workforce in the country next year - DigiTimes

• Sony to supply Apple with advanced image sensors for the next iPhone - NikkeiAsia

• Bob Iger told Disney employees its hiring freeze will stay in place, making comments about remote work as well - CNBC

• Amazon Web Services is promising to replenish the water its data centers use by 2030 - Amazon

• BlockFi is suing Sam Bankman-Fried over shares in Robinhood that the FTX founder allegedly pledged as collateral earlier this month - Cointelegraph

Tuesday:

• Amazon Web Services expects to keep hiring and keep building data centers in 2023 - Bloomberg

• Consumers spent $11.3B on Cyber Monday, up 5.8% YoY - Tech Crunch

• Apple CEO Tim Cook visited Washington D.C. to meet with top GOP lawmakers - MacRumors

• Tesla added more cybertruck-specific jobs to its careers page - InsideEVs

• Disney Channel and ESPN each lost 2M subscribers during this past fiscal year - Bloomberg

• Albertsons CEO said he thinks its deal with Kroger would help them compete with Walmart and Amazon - Bloomberg

• The Chinese city of Zhengzhou, with the largest iPhone factory, eased its Covid restrictions - Bloomberg

• Shopify merchants saw sales of $7.5B during this Black Friday/Cyber Monday weekend ,up 19% YoY - Shopify

• Apple spent more than $550B buying back its own shares over the past decade - Bloomberg

• South Korea plans to offer "tailored" incentives to encourage Tesla to set up an EV gigafactory in the country - Reuters

• Yahoo plans to offer retail stock trading services - Axios

• Merck increased its quarterly dividend to $0.73 per share, up from $0.69 per share - Yahoo

• Microsoft declared a quarterly dividend of $0.68 per share, unchanged from its previous dividend - Microsoft

• Amazon introduced AWS Supply Chain - Tech Crunch

• Disney paid $900M to the MLB to buy out the league’s remaining 15% stake in the streaming firm BAMTech - Tech Crunch

• Amazon raised $8.25B through a 5-part debt offering - Bloomberg

Wednesday:

• Jerome Powell spoke about the economic outlook, inflation, and the labor market (listen to the full thing here):

  • Powell said smaller interest rate hikes are likely ahead and could start in December

  • Rate peak likely `somewhat higher’ than September forecasts

  • FED will need restrictive policy for "some time"

• US appeals court rejects Biden's bid to revive student debt plan - CNBC

• Elon Musk's Neuralink expects to begin human trials of its brain implant in six months - The Verge

• The Dow Jones closed 20% up off its recent September lows, entering a Bull market - Bloomberg

• ​​General Motors-owned Cruise is seeking DMV approval to test shuttles without a steering wheel in San Francisco - WSJ

• Palantir and Lockheed Martin just announced a new partnership focused on delivering modern software to support today's and tomorrow's Navy combat systems - Newswire

• Tesla is preparing for 75K Model Ys to come out of Gigafactory Texas next quarter - Electrek

• Costco reported net sales of $19.17B for November, up 5.7% YoY - Costco

• Amazon said this Thanksgiving holiday shopping weekend was its biggest ever - NBC

• Ford announced the production of its 150,000th electric Mustang Mach-E - Electrek

• House and Senate negotiators have reportedly agreed to endorse a $45B increase to President Biden’s defense spending plans - Politico

• ESPN Chairman Jimmy Pitaro said ESPN has held talks with the "usual suspects" on sports betting and that people shouldn't anticipate a deal to be imminent - Hollywood Reporter

• Meta is scaling back its office space in New York City’s Hudson Yards - Bloomberg

• Brazilian lawmakers approved a bill that legalizes crypto as a payment method in the country - CoinTelegraph

• Pending home sales in the US dropped by 4.6% MoM in October, bringing the YoY decline to 36.7% - NAR

• US employment increased by 127,000 private sector jobs in November ,below estimates of 200,000 - CNBC

• Airbnb launched a new apartment rental platform in more than 25 markets across the U.S. - Airbnb

• Euro Area CPI for November just came in at +10% YoY, below expectations of +10.4% - EU

• The second reading of Q3 US GDP came in at +2.9%, above expectations of +2.7% - BEA

• NYC subways may cost $2.90 in 2023, up 5.5% from current levels. They would also increase to $3.05 in 2025 under the proposed MTA fare hike - Yahoo

• Apple never considered removing Twitter from the App Store - Twitter

• Mark Zuckerberg spoke at the NYT DealBook conference

  • Instagram reels has half the usage of tiktok outside of china

  • Zuckerberg said he was wrong to say Meta is wholly focused on the metaverse

  • Zuckerberg said he made a mistake assuming the 2021 trends would last

• Andy Jassy spoke at the NYT DealBook conference

  • Jassy didn't think Bezos was going to leave Amazon's CEO role

  • Amazon will continue investing in sports

  • Amazon hired aggressively in recent years, and Jassy realized it needed to be slimmer on some of its resources

Thursday:

• Tesla officially delivered its first semi truck to Pepsi - CNN

• Taiwan Semiconductor plans to make more advanced 4NM chips at its new plant in Arizona after being pushed to by US customers like Apple - Bloomberg

• Apple is ramping up work on the software for its upcoming AR/VR headset now, internally calling it xrOS - MacRumors

• Biden's student debt forgiveness program is going to the Supreme Court - CBS

• Tesla is giving a $3,750 discount for every Model 3 and Model Y vehicle delivered in the US during December - Electrek

• Blackstone has limited investor withdrawals at its Blackstone real estate investment fund - FT

• The FED's preferred inflation index PCE came in at 6% YoY for October, in line with expectations - BEA

• Coinbase has accused Apple of forcing it to remove NFT transfers from its Wallet app on iOS - The Verge

• McDonald's is testing a new small format concept in Fort Worth, Texas, designed specifically for express to-go orders - Restaurant Business

• HSBC plans to cut around 10-15% of its Chief Operating Officer roles worldwide - Reuters

• The FCC issued a key authorization to SpaceX allowing them to begin deployment of up to 7,500 2nd generation Starlink satellites - CNBC

Friday:

• President Biden signed the medical marijuana research bill the first piece of standalone federal cannabis reform legislation in U.S. history - Marijuana Moment

• Apple in recent weeks has accelerated plans to shift some of its production outside China - WSJ

• Microsoft is reportedly ready to fight for its deal to acquire Activision - Wccftech

• US Jobs data - BLS

  • Unemployment rate for November came in at 3.7%, in line with expectations

  • Average hourly earnings for November came in at $32.82, up 5.09% YoY

  • Labor Force Participation Rate For November: 62.1% below expectations of 62.3%

  • November nonfarm payrolls came in at +263K, above expectations of +200K

• European Union officials set a $60 price cap per barrel on Russian oil - CNBC

• Ford sold a total of 146.4K vehicles in November, down 7.8% YoY - Tweet

• Biden signed a bill averting rail worker strike - CNBC

• The US Air Force unveiled its next-generation stealth bomber the B-21 Raider built by Northrop Grumman - ABC

• JPMorgan, Bank of America and Citi all slashed bonuses for bankers - Bloomberg

Get Prepared For Next Week

Economic Calendar

FED Blackout period: We will hear no more FED speakers until after their December FOMC meeting on the 13th and 14th

Earnings Calendar

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