Rippers Weekly Recap 5/07: Jerome Powell, Crazy Markets, Earnings and Much More

StockMKTNewz Evan
May 07, 2022

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 the latest earnings of the week!

This newsletter is sponsored by:

How The Stock Market Performed This Week

The Major Indexes

Heat Map of the S&P 500

How The Largest Stocks Performed

Best Performing Large Cap Stocks

Worst Performing Large Cap Stocks

**All images are via Finviz.com**

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Major Earnings This Week

AMD reported earnings on Tuesday after the market closed posting numbers of:

  • EPS of $1.09 beating expectations of $0.90 
  • Rev of $5.89B beating expectations of $5.52B

AMD said next quarter it expects revenue between $6.3B-$6.7B compared to estimates of $6.38B

Airbnb reported earnings on Tuesday after the market closed posting numbers of:

  • EPS of -$0.03)beating expectations of -$0.28 
  • Rev of $1.51B beating expectations $1.45B

Airbnb said next quarter it expects revenue to be between $2.03B-$2.13B above estimates of $1.97B

Shopify reported earnings on Tuesday before the market opened posting numbers of:

  • EPS of $0.20 missing expectations of $1.00 
  • Rev of $1.20B missing expectations of $1.25B

Shopify announced it has reached a deal to acquire Deliverr "a fulfillment technology provider" for ~$2.1B in cash

Block (Square) reported earnings on Thursday after the market closed posting numbers of:

  • EPS of $0.18 in line with expectations 
  • Rev of $3.96B missing expectations of $4.23B

Draftkings reported earnings on Friday before the market opened posting numbers of:

  • EPS of -$0.80 beating expectations of -$0.82 
  • Rev of $473.3M beating expectations of $442.5M

Draftkings ended the quarter with ~2 Million monthly unique players up 29% YoY

Starbucks reported earnings on Tuesday before the market opened posting numbers of:

  • EPS of $0.59 missing expectations of $0.60 
  • Rev of $7.64B beating expectations of $7.61B

Moderna reported earnings on Wednesday before the market opened posting numbers of:

  • EPS of $8.58 beating expectations of $5.18 
  • Rev of $6.07B beating expectations of $4.43B

Lucid reported earnings on Thursday after the market closed posting numbers of:

  • EPS of -$0.05 beating expectations of $0.30 
  • Rev of $57.7M beating expectations of $53.4M

Lucid delivered a total of 360 vehicles in Q1 to customers

Non-Earnings Headlines From This Week

Monday:

  • Citadel's main fund was up almost 13% through the first 4 months of 2022 driven by a 7.5% increase in April - CNBC 
  • Roku announced that the Apple Music app is now available on Roku devices - Roku 
  • Qualcomm has landed a long term supply deal with Volkswagen - Reuters

Tuesday:

  • Pepsi declared its 50th consecutive annual dividend increase with a quarterly dividend of $1.15 per share up from its previous dividend of $1.08 per share - Yahoo 
  • Apple has hired 31 year Ford veteran Desi Ujkashevic to help ramp its Apple Car project - Tech Crunch 
  • Tiger Global was down 15% in April bringing its loss for the year up to down 44% - Bloomberg

Wednesday:

  • FOMC results and Press Conference
    • The FOMC has decided to raise rates by 50BPs to between 0.75-1% 
    • Jerome Powell said there's nothing in the economy that implies we're on the verge of a recession 
  • Robinhood announced its introducing Stock Lending letting users lend out any fully paid stocks in their portfolio and get paid when there’s a match - Blog 
  • Costco reported net sales of $17.33B for April up 13.9% YoY - Newswire 
  • Palantir announced the Department of Health and Human Services selected Palantir for a 5-year $90M contract - Businesswire 
  • Tesla has reportedly picked a location to build its 2nd production line in Shanghai that would add an additional 450,000 units of annual capacity - SCMP 
  • Ford delivered a total of 176,965 vehicles in the US during April down 10.5% YoY, with 16,779 of those being EVs up 50.2% YoY - Ford 
  • Nancy Pelosi filed showing she owns 2,419 shares of Warner Bros Discovery, which she received when it was spun out of AT&T - CongressTrading

Thursday:

  • Elon Musk is changing the financing for his Twitter bid reducing the size of the margin loan he's taking on to $6.25B from $12.5B - Edgar 
    • The $6.25B will now be coming from various equity investors
  • Peloton is reportedly pursuing potential investors that could take a 15%-20% stake in the company - WSJ 
  • New York regulators approved a second batch of applications for recreational marijuana cultivators as the state prepares for the launch of retail sales “later this year” - Marijuana Moment 
  • Google confirmed it has agreed to the acquire Raxium, "an innovator in single panel MicroLED display technologies” - Blog 
  • Elon Musk is expected to serve as temporary CEO of Twitter for a few months after the deal closes - CNBC 
  • Microsoft teamed up with Volkswagen to make HoloLens work in cars - The Verge

Friday:

  • The SEC has charged Nvidia with "Inadequate Disclosures about Impact of Crypto Mining" making them pay a $5.5M fine - CNBC  
  • Tesla has agreed to a long term supply deal with Vale to buy Nickle - Electrek 
  • Coinbase's NFT Marketplace had less than 150 users on its first day open to the public - Decrypt

Get Prepared For Next Week

Earnings Calendar

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