Rippers Weekly Recap 4/22: Earnings Season Is Back!!!! Tesla and Netflix Earnings Plus Much More

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!

Today, we're doing a quick recap of the best and worst of the markets, the biggest headlines, and a surprise tweet from this week!

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Major Earnings This Week

Tesla reported earnings Wednesday after the markets closed, posting numbers of:

• EPS of $3.22, beating expectations of $2.27

• Rev of $18.76B, beating expectations of $17.76B

Tesla cash and cash equivalents increased by $300M in the quarter to $18B driven by free cash flow of $2.2B

Elon Musk confirmed Tesla is working on a dedicated Robo taxi, with no steering wheel or pedals optimized for AI. Elon said current aspirations are to reach volume production for that in 2024 adding he thinks "that really will be a massive driver of Tesla's growth."

Netflix reported earnings Tuesday after the markets closed, posting numbers of:

• EPS of $3.53, beating expectations of $2.92

• Rev of $7.87B, missing expectations of $7.93B

Netflix reported global paid subscribers of 221.64M up 6.7% YoY but down 200K subscribers from last quarter the first time Netflix lost subscribers over a quarter since 2011

Netflix added on the conference call that it thinks advertising is an exciting opportunity for the company, Netflix plans to implement a cheaper ad-supported tier within the next year or two.

Snapchat reported earnings on Thursday after the markets closed, posting numbers of:

• EPS of -$0.02, missing expectations of $0.01

• Rev of $1.06B, missing expectations of $1.07

Snapchat reported daily active users of 332M up 18% YoY

JNJ reported earnings on Tuesday before the markets opened, posting numbers of:

• EPS of $2.67, beating expectations of $2.60

• Rev of $23.43B, missing expectations of 23.69B

Johnson & Johnson declared a quarterly dividend of $1.13 per share up from its previous dividend of $1.06 per share

ASML reported earnings Wednesday before the markets opened, posting numbers of:

• EPS of $3.59, beating expectations of $1.89

• Rev of $4.90B, beating expectations of $3.88B

IBM reported earnings on Tuesday after the markets closed, posting numbers of:

• EPS of $1.40, beating expectations of $1.34

• Rev of 14.20B, beating expectations of $13.87B

Lockeed Martin reported earnings on Tuesday before the market opened, posting numbers of:

• EPS of $6.44, beating expectations of $6.22

• Rev of $14.96B, missing expectations of $15.61B

Non-Earnings Headlines From This Week

Monday:

• Workers who hope to organize a union at Apple’s Grand Central Terminal store want to be paid a minimum of $30 per hour - CNBC 

• Confirming the previous announcement of Twitter implementing a poison pill, Twitter's board authorized and declared a dividend distribution of one right for each share outstanding of common stock with a par value of $0.000005 Per Share - SEC Filing 

• Delta has held talks with Elon Musk's SpaceX to use Starlink - WSJ 

• According to one industry insider, Apple is "in the driver’s seat to secure the NFL Sunday Ticket rights beginning in the fall of 2023, others are saying that the deal is already done." - The Streamable 

• Amazon is working on a mysterious AR smart home product, according to job listings - The Verge 

• Alex Jones' InfoWars filed for Chapter 11 bankruptcy - Reuters

Tuesday:

• Tesla's Shanghai Gigafactory resumed production - Electrek 

• Sega is reportedly working on big-budget reboots of Crazy Taxi and Jet Set Radio - The Verge 

• Robinhood has agreed to acquire Ziglu Limited "a UK-based electronic money institution and crypto-asset firm" - Robinhood Blog

Wednesday:

• Bill Ackman's Pershing Square sold its shares in Netflix, losing ~400 million on the position - Variety

• Shopify is reportedly in talks to acquire Deliverr in a deal that would value the company around $2 Billion - Bloomberg 

• Coinbase announced its NFT marketplace Coinbase NFT is now in Beta - Coinbase Blog 

• Google announced its currently hiring for its first product development center in Africa - Google Blog 

• Taiwan Semiconductor $TSM has raised $3.5 billion in bonds for its new US plant in Arizona - Reuters

Thursday:

• Melvin Capital is in talks to unwind and close its current fund which is down 51.8% from January 2021 through March 2022, Melvin would give his investors the right to reinvest that capital in what would essentially be a new fund run by Plotkin - CNBC

• Elon Musk confirmed he has a total of $46.5B in financing committed to his deal to potentially acquire Twitter - SEC Filing

• Warner Bros. Discovery is shutting down CNN+ by the end of the month with the content moving over to HBO Max - Engadget

• Florida's House followed the Senate in voting in favor of a bill that would eliminate a special tax district that has allowed Disney to govern the land where its theme parks sit - NBC

• Coinbase is reportedly in talks to acquire Turkish crypto exchange BtcTurk for $3.2B - Coindesk

Friday:

• Amazon announced it has agreed to acquire Indian social commerce startup GlowRoad - Tech Crunch

Get Prepared For Next Week

Economic Calendar

Earnings Calendar

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