Rippers Weekly Recap 7/30: The Busiest Week Of The Year with Jerome Powell, Big Tech Earnings 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 (Every picture has a link) -- 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

Earnings, More Earnings. And EVEN MORE EARNINGS

Apple reported earnings Thursday after the market closed, posting numbers of:

• EPS of $1.20 beating expectations of $1.14

• Rev of $82.96B beating expectations of $82.42B

Apple reported iPhone revenue of $40.67B beating expectations of $38.85B

Apple nearly doubled its sales in India during the last quarter

Apple said will continue to hire people and make investments during any downturn but they will be more deliberate

Amazon reported earnings Thursday after the market closed, posting numbers of:

• EPS of $0.10 missing expectations of $0.15

• Rev of $121.23B beating expectations of $119.45B

Amazon Web Services brought in $5.72B of operating income last quarter on $19.74B of Revenue

Amazon said next quarter it expects revenue of $125B-$130B compared to $126.42B expectations and operating income to be between $0-$3.5B below expectations of $3.83B

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

• EPS of $1.21 missing expectations of $1.27

• Rev of $69.69B missing expectations of $70.40B

Google reported Q2 Ad Revenue of $56.29B beating expectations of $55.91B

Google acquired YouTube for $1.65 Billion back in October 2006, In just Q2 2022 YouTube brought in $7.34 Billion of revenue from ads

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

• EPS of $2.23 missing expectations of $2.28

• Rev of $51.87B missing expectations of $52.87B

Microsoft said it expects double digits sales growth for its Fiscal Year 2023

Microsoft reported Intelligent Cloud Revenue of $20.91B below expectations of $21.07B

🛑 STOP SCROLLING 🛑 

Bullish Rippers covered both these earnings reports LIVE on Twitter Spaces this past week. We do countless hours of live free content every week and now we're doing recaps of the Spaces. The value delivered on these spaces can't be matched. This is something you will not want to miss! If you're interested in getting recaps of those events, subscribe to our new newsletter!

Scroll to the bottom of the post for a preview of the Spaces recaps!

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

• EPS of $2.46 missing expectations of $2.50

• Rev of $28.82B missing expectations of $28.82B

Facebook said next quarter it expects revenue to come in between $26B-$28.5B

3.65 Billion people used a product owned by Meta on a monthly basis last quarter, That means about 47% of the world's population uses a Meta product each month

Coca-Cola reported earnings on Tuesday before the market opened, posting numbers of:

• EPS of $0.70 beating expectations of $0.67

• Rev of $11.33B beating expectations of $10.56B

McDonald’s reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $2.55 beating expectations of $2.45

• Rev of $5.72B missing expectations of $5.86B

General Motors reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $1.14 missing expectations of $1.39

• Rev of $35.76B beating expectations of $37.16B

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

• EPS of $1.98 beating expectations of $1.74

• Rev of $7.28B beating expectations of $7.06B

Boeing reported earnings Wednesday before the market opened, posting numbers of:

• EPS of -$0.37 missing expectations of -$0.08

• Rev of $16.68B missing expectations of $17.54B

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

• EPS of $0.68 beating expectations of $0.43

• Rev $40.19B beating expectations of $34.29B

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

• EPS of -$0.03 missing expectations of $0.03

• Rev oF $1.3B missing expectations of $1.75B

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

• EPS of $2.96 beating expectations of $2.86

• Rev of $10.94B missing expectations of $10.87B

Exxon Mobil reported earnings Friday before the market opened, posting numbers of:

• EPS of $4.14 beating expectations of $3.92

• Rev of $115.68B missing expectations of $120.24B

Chevron reported earnings Friday before the market opened, posting numbers of:

• EPS of $5.82 beating expectations of $5.02

• Rev of $68.76B missing expectations of $55.1

Major Headlines From This Week

Monday:

• The SEC is probing Coinbase on suspicion it allowed U.S. persons to trade unregistered securities. - Coindesk 

• Alibaba is pursuing a primary listing on the Hong Kong stock exchange and will become dual primary listed on the NYSE and the Hong Kong. - CNBC

• Walmart lowered its sales outlook for FY23 given the results of Q2 "primarily due to pricing actions aimed to improve inventory levels at Walmart and Sam's Club in the U.S. and mix of sales." - WSJ

• The SEC has charged former Indiana congressman Stephen Buyer with insider trading accusing him of trading on non-public information he received as a consultant after leaving office. - SEC

• Weber withdrew its FY2022 sales and earnings guidance. - Investing

• The NFL announced the launch of its own streaming service NFL+. Users will get "live local and primetime regular season and postseason games on mobile & tablet." - CNBC

Tuesday:

• Shopify laid off 10% of its workforce representing about 1,000 employees saying they had to leave by the end of the day on Tuesday. - Tech Crunch

• 3M announced it plans to spin off its health care business into a separate public company expecting to complete the transaction by the end of next year. - Axios

• Activist investor Elliott Management now has a stake in PayPal. - Bloomberg

• Amazon announced its raising Amazon Prime prices in a couple of countries across Europe. - The Verge

Wednesday:

• The FED announced it raised rates by 75 Basis Points (0.75%) to between 2.25%-2.50%. - FED

• Headlines from Jerome Powell’s press conference:

  • "I do not think the US is currently in a recession." - Jerome Powell

  • Powell said he expects to be at a moderately restrictive rate by the end of the year describing that as between 3-3.5%.

  • Powell said the FED will now act on a meeting-by-meeting basis instead of giving out clear guidance as before.

  • Powell said he considers consider current levels in the range of "Neutral."

  • Powell said another unusually large rate increase could be appropriate at the next meeting.

• Apple has hired 20 year Lamborghini veteran Luigi Taraborrelli to work on its self-driving electric vehicle. - Bloomberg

• Rivian announced its laying off 6% of its workforce. - Electrek 

• Google said its delaying plans to end tracking cookies now target the second half of 2024. - Tech Crunch

• Nancy Pelosi sold all 25,000 of her shares of Nvidia at an average price of $165.05 for a total loss of $341,365. - Tweet

Thursday:

• The Q2 GDP Advanced reading came in at -0.9% below median estimates of +0.4%. If this number holds through the 2 GDP revisions, we will have officially entered the technical definition of a recession.

  • The first revision to Q2 GDP will be August 25

  • The final revision to Q2 GDP will be September 29

• Coca-Cola owned Sprite announced its bottles will no longer be Green starting August 1. - CNN Business

• Instacart is reportedly planning to go public through an IPO by the end of year. - WSJ

• Meta Platforms (Facebook) is now no longer one of the top 10 largest US stocks by market cap. - Tweet

• Palantir announced it will expand its work with the US Army Research Laboratory to implement data and artificial intelligence/machine learning capabilities in a $99.9M contract over 2 years. - BusinessWire

• Alibaba CEO Jack Ma plans to relinquish control of Ant Group. - WSJ

• Meta Platforms has officially cut its funding to news publishers. - Axios

• The House and the Senate both passed the CHIPs act sending the bill to President Biden to sign it into law. - CNN Business

• House Democrats will propose a ban on lawmakers, their spouses and senior staff from trading stocks. - The Hill

Friday:

• Occidental filed for a mixed shelf offering. - SEC Filing

• Alibaba has been added to the SEC’s list of over 270 stocks that could be delisted off US stock exchanges due to American regulators not being able to access to financial audits. - Bloomberg

• FTC Commissioner Lina Khan overruled her staff to go forward with her lawsuit against Meta over its deal to acquire VR company Within. - The Verge

• The Judge in the Elon Musk vs Twitter trial ordered for it to take place on October 17-21. - CNBC

Get Prepared For Next Week

Economic Calendar

Earnings Calendar

Here's a preview of our new newsletter, the Bullish Rippers Twitter Spaces Newsletter:

Microsoft and Google Earnings Live

In this Tuesday’s Twitter Spaces, we live reacted to various companies making their earnings announcements, from Google, to Microsoft, to Chipotle, to Texas Instruments, and more. We broke down, analyzed, and compared expectations of these companies’ Q2 revenue, ad revenue, productivity/business segments, quarter-over-quarter growth, EPS, and more. The week has just begun and we are only just getting started. The rest of the week is lined up with more earnings madness!

Hosts:

• Bullish Rippers (@BullishRippers)

• WOLF (@WOLF_Financial)

• Stock Market News (@StockMKTNewz)

Speakers:

• Brian Shannon, CMT (@alphatrends)

• Dr. Parik Patel (@ParikPatelCFA)

• Whole Mars Catalog (@WholeMarsBlog)

• Rahul (@rhemrajani9)

• TSDR Trading (@TSDR_Trading)

• Matt (@TradersParadise)

• Aj singh (@astocks92)

• 3 Aces (@nobigdeal111)

Chapters:

• 44:20 - Intro

• 50:30 - What companies are Stock Market News watching for?

• 58:51- Microsoft $MSFT announcement

• 1:01:01 - Google $GOOGL announcement

• 1:08:36 - Visa $V and Chipotle $CMG announcement

• 1:12:48- Upcoming week’s content schedule

• 1:14:28 - Mondelez $MDLZ and Texas Instruments $TXN announcement

• 1:17:35 - Youtube component of Google’s announcement

• 1:19:16 - Whole Mars Catalog’s POV of advertising on Google

• 1:21:24 - 3 Aces caution that the numbers we are seeing from these companies’ earnings is not what the companies are seeing now

• 1:32:50 - Roundtable answers who they would invest in based on current earnings

• 1:45:20 - Is 2022 giving us an opportunity that 2018 or 2020 gave us?

• 1:54:43 - Closing remarks/what to expect for tomorrow’s Spaces/what companies are everyone looking at

Speaker Quotes:

• “Microsoft’s Q4 revenue was $51.9 billion below estimates of $52.4 billion. Productivity revenue below estimates. EPS of $2.23 missing below the expectation of $2.29. Intelligent cloud revenue of $20.91 billion below estimates of $21 billion. Commercial cloud revenue was $25 billion vs expectation of $24.99, so right on the line.”

• “Google’s Cloud Revenue came in at 6.28 below estimate of 6.38. EPS of $1.21 missing expectations of $1.32. We have revenue of $69.69 billion missing expectations of $70 billion. Operating margin was 28% vs the expectation of 28.4%. Google Ad Revenue was $56.29 billion beating expectations of $55.91 billion.”

• 3 Aces: “You know if I get the big picture right on something you know, I can make all kinds of mistakes. And right now the big picture is saying doing nothing. Is doing something right? That's how that's what I see here. Now I see I see doing nothing is actually doing something”

• Rahul: “So the problem with comparing time periods is that history usually rhymes. It doesn't repeat. You know both those times [2018 and 2020] the Fed was there to save us both those times.”

Tweets shared during Spaces:

• Stock Market News Tweet

• Bullish Rippers Tweet

Listen to the full Spaces here!

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!