Rippers Weekly Recap 7/23: Tesla Earnings, Amazon Acquisition and much more
Hey everyone, it’s Evan! But I’m better known online as @StockMKTNewz. I started writing this newsletter to make sure you never miss anything important from the week in the stock market. I want you all to not just be able to understand the week's headlines in under 5 minutes, but also be able to spend hours digging through all the stories and pictures. To that end, I include a lot of links -- so if you’re interested in a story or image, click in and explore!
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!
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
**All images are via Finviz.com**
Major Earnings This Week
Lockheed Martin reported earnings on Tuesday before the market opened posting numbers of:
EPS of $6.32 beating expectations of $6.29
Rev of $15.45 missing expectations of $16.03
Lockheed Martin said next quarter it now expects revenue of approximately $65.3 billion from its previous guide of $66 billion.
Netflix reported earnings on Tuesday after the market closed posting numbers of:
EPS of $3.20 beating expectations of $2.90
Rev of $7.97B missing expectations of $8.06B
Netflix lost 970,000 subscribers last quarter, beating their expected loss of approximately 2 million subscribers. Netflix said next quarter it expects to add 1 million subscribers.
Tesla reported earnings on Tuesday after the market closed posting numbers of:
EPS of $1.95 beating expectations of $1.69
Rev of $16.93B missing expectations of $18.26B
Tesla sold 75% of its Bitcoin during the quarter to maximize its cash position due to uncertainty - Tweet
Elon Musk said he thinks Tesla "has a good chance" to exit the year making 40,000 vehicles per week (over 2 million annual run rate).
History of Tesla’s $TSLA Q2 revenue
Q2 2010: $28M
Q2 2011: $58M
Q2 2012: $27M
Q2 2013: $405M
Q2 2014: $769M
Q2 2015: $955M
Q2 2016: $1.27B
Q2 2017: $2.79B
Q2 2018: $4B
Q2 2019: $6.35B
Q2 2020: $6.04B
Q2 2021: $11.4B
Q2 2022: $16.9B
— Bullish Rippers (@BullishRippers)
Jul 20, 2022
Snapchat reported earnings on Thursday after the market closed posting numbers of:
EPS of -$0.02 in line with expectations
Rev of $1.11B missing expectations of $1.22B
Snapchat reported daily active users of 347 million, beating estimates of 343.2 million.
Snapchat did not provide expectations of revenue or adjusted EBITDA for next quarter.
Twitter reported earnings on Friday before the market opened posting numbers of:
EPS of -$0.37 missing expectations of -$0.06
Rev of $1.18B missing expectations of $1.33B
Twitter reported average monetizable daily active users of 237.8 million during Q2, above expectations of 237.5 million.
American Express reported earnings on Friday before the market opened posting numbers of:
EPS of $2.57 beating expectations of $2.41
Rev of $13.4B beating expectations of $12.5B
American Express raised its full year sales growth guide to between 23-25%. up from between 18-20%.
Major Headlines From This Week
Meta Platforms announced you can now purchase and track orders directly in chats on Instagram in the US. - Tech Crunch
Tesla filings reportedly show plans to expand their Gigafactory Texas building on a 68.11-acre plot of land located adjacent to the factory. - Teslarati
Apple plans to slow hiring and spending for some teams in 2023. - Bloomberg
Berkshire Hathaway purchased 1.94 million more shares of Occidental. Buffett now owns 181.68 million shares of Occidental, representing about 18.2% of the company. - Filing
General Electric announced what its businesses will be called after their planned spin-offs. - CNBC
Their Aviation business will be GE Aerospace.
Their Healthcare business will be GE Healthcare and trade under the ticker $GHEC.
The remainder will come together as GE Vernova.
Disney said it sold $9 billion in upfront ad sales for 2022-23, 40% of which are from online ads, including Disney+ - The Wrap
Sony is acquiring esports tournament platform Repeat(.)gg. - The Verge
The US Senate voted to move ahead with the CHIPs act. - CNBC
Meta Platforms is reallocating resources away from its Facebook News tab and newsletter platform Bulletin - The Verge
Cathie Wood's Ark Invest announced it will be shutting down its ARK Transparency ETF $CTRU. - Filing
A Delaware judge granted Twitter’s request for an expedited trial in its lawsuit against Elon Musk, with the trial now set for October. - Politico
Google owned YouTube and Shopify announced a partnership to let creators and merchants feature their products from Shopify on their YouTube channels and in their content. - Tech Crunch
Hedge Fund Coltrane Asset Management is up 223% so far in 2022. - WSJ
The U.S. Postal Service said it plans to buy at least 25,000 electric delivery vehicles, more than double its prior estimate. - Electrek
SpaceX and Mattel announced a multi-year partnership to create SpaceX themed toys and collectibles. - Newswire
Ford plans to cut as many as 8,000 jobs in the coming weeks. - Bloomberg
Google said it will pause hiring for two weeks. This follows a statement last week saying they would slow its pace of hiring for the rest of the year. - Tech Crunch
Lyft laid off about 60 people, which is less than 2% of its workforce. - WSJ
Carnival announced today a new $1 billion share offering. - Bloomberg
Faze completed its merger with B. Riley and is now trading under the ticker $FAZE. - Tweet
Amazon announced it’s acquiring One Medical for $18 per share, valuing the company at $3.9 billion. - MarketWatch
FedEx is suspending Sunday residential delivery in certain US markets starting next month. - WSJ
The European Central Bank raised rates by 0.50%, above expectations of 0.25%. - CNBC
Amazon has started delivering packages with Rivian-built EVs. - Tech Crunch
US authorities arrested a former Coinbase product manager for allegedly leaking insider information to help his brother and a friend buy tokens just before they were listed on the exchange. - Bloomberg
Airbnb co-founder Joe Gebbia is stepping down from his operating role at the company. However, he will remain on the board. - CNBC
Meta Platforms said all Instagram videos under 15 minutes will now be reels. Instagram also said its consolidating the Reels and Video tabs into one home for all videos on the app. - Tech Crunch
Ford said it has secured battery supply to build 600,000 EVs a year by 2023. - Electrek
Russia and Ukraine agreed to resume exports of millions of tons of Ukrainian grain via the Black Sea for the first time since the Russian invasion. - Reuters
The CEO of Chinese real estate company Evergrande has resigned from his position. - Nikkei
Volkswagen CEO Herbert Diess announced he is leaving the company. - The Guardian
SpaceX successfully launched its 32nd Falcon 9 mission of 2022. SpaceX launched 31 missions in all of 2021. - The Verge
Get Prepared For Next Week
The biggest events on this calendar are the FOMC Statement and the GDP Print
FOMC: There have been some whispers of a 100 basis point (1%) hike, but the consensus is for a 75 basis point hike.
GDP: The calendar above has the estimate at +0.4%, but estimates have been coming down and many now believe that GDP print will be negative, including the Atlanta FED.
Some Other Very Exciting News!!
Some big news!! Im really excited to have launched the first item in my merch store!
This is going to be the start of something big! I'll be adding a lot more general stock market merch to the store, so if there's anything you want let me know. I really appreciate everyone that has supported me and my page. I'm really excited about the future of StockMKTNewz and Bullish Rippers!
You can check out my first mug here, or click the photos below ⬇️
That's it for today — thanks for reading Rippers! Stay bullish, and we'll see you all in the next one 🔥 In the meantime, check out our weekly Twitter Spaces and give us a follow on Twitter!