Rippers Weekly Recap 1/14: Earnings Season Is Back!
Plus news from Apple, Tesla, Microsoft and Much More!
StockMKTNewz Evan
January 14, 2023
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EARNINGS SEASON IS BACK!!! Major Earnings
Taiwan Semiconductor reported earnings Thursday after the market closed, posting numbers of:
EPS of $1.82, beating expectations of $1.77
Revenue of $19.93B, missing expectations of $20.90B
JPMorgan reported earnings Friday before the market opened, posting numbers of:
EPS of $3.65, beating expectations of $3.10
Revenue of $34.5B, beating expectations of $34.23B
JPMorgan said it could do $12B of buybacks in 2023.
BlackRock reported earnings Friday before the market opened, posting numbers of:
EPS of $8.93, beating expectations of $8.07
Revenue of $4.34B, beating expectations of $3.64B
Bank of America reported earnings Friday before the market opened, posting numbers of:
EPS of $0.85, beating expectations of $0.77
Revenue of $24.53B, beating expectations of $24.17B
Citi reported earnings Friday before the market opened, posting numbers of:
EPS of $1.10, missing expectations of $1.20
Revenue of $18B, beating expectations of $17.7B
Delta reported earnings Friday before the market opened, posting numbers of:
EPS of $1.48, beating expectations of $1.33
Revenue of $13.44B, beating expectations of $12.72B
Delta said next quarter it expects EPS to be in the range of $0.15 to $0.40 vs. consensus of $0.60
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Major Headlines From This Week
Monday:
Apple is developing its own in-house chips to replace Wi-Fi/Bluetooth chips from Broadcom and Modem chips from Qualcomm by 2025 - Engadget
Microsoft is reportedly in talks to invest $10B into OpenAI - Semafor
Disney CEO Bob Iger told hybrid employees they must return to corporate offices four days a week starting March 1 - CNBC
YouTube will start sharing ad revenue with Shorts creators starting February 1 - The Verge
Coca-Cola and PepsiCo are under preliminary investigation at the FTC over potential price discrimination in the soft drink market - Politico
Moderna brought in ~$18.4B in sales from its COVID-19 vaccine in 2022 - Moderna
Tilray said it may use excess cannabis growing capacity for fruits and veggies - Bloomberg
Salesforce said for the 2022 holiday season, consumers spent a total of $1.14T online globally and $270B in the US - Salesforce
Microsoft has agreed to acquire Fungible - Tech Crunch
Apple's iPhone exports from India doubled to exceed $2.5B from April to December - Bloomberg
Moderna is considering pricing its Covid-19 vaccine between $110-$130 per dose in the US when it shifts from government contracting to commercial distribution - Axios
Tuesday:
Coinbase plans to fire 950 employees or about 20% of its workforce - The Verge
Apple is preparing to make custom screens for its devices for the first time - 9To5Mac
Wells Fargo is stepping back from the home lending business - CNBC
Tesla filed to expand its Texas Gigafactory by 1.4M square feet, by investing over $716M - Teslarati
Amazon announced "Buy with Prime" its offering that lets outside merchants use Amazon features on their websites will be widely available in the US starting January 31 - Amazon
Tom Brady owns more than 1.1M common shares of FTX, which was worth $45M - NYP
Bed Bath & Beyond has started another round of layoffs - CNBC
Palantir and Cloudflare announced a new cloud-focused partnership - Newswire
Roblox could be added to Meta's Quest VR headset later this year - Tech Crunch
Apple has now paid out $320B to app developers since 2008 - Tech Crunch
Disney is rolling out its first theme park changes since Bob Iger returned with Disneyland California, giving customers free photos taken on rides starting February 4 - Bloomberg
Realty Income declared its 631st consecutive monthly dividend - Newswire
Boeing delivered a total of 480 commercial planes in 2022 - CNBC
Intel unveiled three new chips aimed at regaining server market share - Intel
Several top executives at Rivian have left the EV startup in recent months - InsideEVs
FedEx said it will further cut Sunday package deliveries in March - Bloomberg
Apple supplier BOE plans to open new factories in Vietnam - Apple Insider
Wednesday:
Microsoft is giving all salaried US employees unlimited time off - The Verge
Apple is actively working on its first touch screen Macs which could be released in 2025 with the Macbook Pro - CNBC
Tesla is reportedly close to a preliminary deal to set up a factory in Indonesia with a target output of 1M cars a year - Bloomberg
AMD CFO Devinder Kumar announced his retirement and will be replaced by Marvell’s CFO Jean Hu - Newswire
BlackRock plans to fire about 500 employees worldwide - Fortune
Two Google subsidiaries announced job cuts, its robotics subsidiary Intrinsic cut 20% of its staff and its health-focused company Verily cut 15% of its workforce - The Verge
Meta has rescinded full-time job offers that were extended to some candidates - Tech Crunch
Microsoft introduced Microsoft 365 Basic a new consumer tier to its Microsoft 365 subscription offerings priced at $1.99 per month - The Verge
Universal plans to build two new theme parks in Las Vegas and Texas - Bloomberg
Pepsi discontinued Sierra Mist today and will start rolling out a new lemon-lime soda called "Starry" which will be available nationwide this week - Bloomberg
T-Mobile is considering an acquisition of Ryan Reynolds backed Mint Mobile - Bloomberg
Subway is exploring the possibility of selling itself in a deal that would value the company at more than $10B - WSJ
Apple unveiled Apple Business Connect to let businesses decide what information appears when people search for their business - Apple
The FAA ordered airlines to pause departures for several hours after a system outage - CNBC
Miami-Dade County and the Miami Heat received approval from a federal bankruptcy judge to terminate their naming rights contract with FTX - CoinTelegraph
Amazon’s head gaming executive John Smedley is stepping down from his role - GIB
Logitech pre announced its earnings, reducing its FY 2023 outlook … "We are disappointed in these preliminary third-quarter results" - Newswire
Stripe cut its internal valuation by 11% to $63B, 33% lower than the value when it last raised money - Tech Crunch
Thursday:
CPI for December just came in at 6.5% YoY, in line with expectations
I made a full cheat sheet for CPI which you can view here
Google and Nvidia both expressed concerns to the FTC about Microsoft’s deal to acquire Activision - Bloomberg
Nvidia’s streaming software now has the option to use AI to make it appear like you’re making eye contact with the camera, even when you’re looking away - The Verge
Google and Porsche are in talks about Porsche possibly fully integrating Google's software into its car cockpit - Reuters
Apple released how much its executives made in 2022. CEO Tim Cook received a total of $99.4M in 2022 compared to $98.7M in 2021 and $14.8M in 2020. Cook will get a 50% pay cut in 2023 and will “only” make $48M - Bloomberg
Amazon's Thursday Night Football averaged around 9.6 million viewers, up to 25% lower than estimated - FOS
Congress denied the Army’s request to buy up to 6,900 headsets based on Microsoft’s HoloLens technology for $400M - The Verge
HBO Max is raising the price of its ad-free tier in the US to $15.99 per month, up from $14.99 - Variety
Robinhood rolled out retirement accounts to all eligible customers - Robinhood
Walmart and Salesforce announced a partnership to provide retailers with access to “technologies that power local pickup and delivery for shoppers” - Newswire
JPMorgan shut down its website for “Frank,” a platform it bought for $175M after alleging the company’s founder created nearly 4M fake customer accounts - CNBC
The price of eggs was up 60% YoY in December - Yahoo
Friday:
AriZona Iced Tea raised the price of its 20-ounce bottles to $1.25 from $1 in the Northeast so it could keep its iconic cans priced at $0.99 - Yahoo Finance
Nancy Pelosi filed for trades made just before the New Year selling Tesla shares for a $511.1K loss and Disney for a $114.1K loss, Tax loss harvesting? - CongressTrading
Salesforce insiders expect the sales teams to be hit with layoffs in February - Insider
Carvana is quietly firing employees, cutting hours and letting open positions go unfilled - WSJ
YouTube is in talks with media companies to feature their TV shows and films in a hub of ad-supported channels - Engadget
Janet Yellen says the US will hit its debt limit on Thursday - Politico
Wendy's doubled its quarterly dividend to $0.25 per share and announced a new $500M share buyback program - SeekingAlpha
Bed Bath & Beyond is reportedly in talks with Sycamore Partners to sell assets, including its Buy Buy Baby stores, as part of a possible bankruptcy process - WSJ
Bank of New York Mellon plans to fire about 3% of its workforce this year representing 1,500 jobs - Reuters
Rolls-Royce has begun looking at potential sites for mini nuclear reactors in the UK - Reuters
Google Cloud unveiled 4 new and updated AI technologies to help retailers - Newswire
The Biden administration is preparing to seek congressional approval for a $20B sale of new Lockheed Martin F-16 jet fighters to Turkey along with a separate sale of next-generation F-35 warplanes to Greece - WSJ
Get Prepared For Next Week
Economic Calendar
Earnings Calendar
Reminder: The US stock market is closed on Monday for MLK day
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