Rippers Weekly Recap 8/06: Warren Buffett, AMD and PayPal earnings, Nancy Pelosi in Taiwan 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 five 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!
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
Note: The number one stock up there, $HKH, is a small Hong Kong company. Its stock is experiencing a very weird and interesting situation. Here's a good place to start looking (Axios). But don't buy into this stock, you will lose money!
Worst Performing Large Cap Stocks
Earnings, More Earnings. And EVEN MORE EARNINGS
Caterpillar reported earnings on Tuesday before the market opened, posting numbers of:
EPS of $3.18 beating expectations of 3.01
Rev of $14.20B missing expectations of $14.38B
Uber reported earnings on Tuesday before the market opened, posting numbers of:
GAAP EPS of -$1.33
Rev of $8.07B beating expectations of $7.37B
Airbnb reported earnings on Tuesday after the market closed, posting numbers of:
EPS of $0.56 missing expectations of $0.67
Rev of $2.1B in line with expectations
Airbnb announced a new $2 billion share buyback program. They said next quarter they expect revenue to come in between $2.78-$2.88 billion versus estimates of $2.78 billion.
AMD reported earnings on Tuesday after the market closed, posting numbers of:
EPS of $1.05 in line with expectations
Rev of $6.55B beating expectations of $6.53B
AMD said next quarter they expects revenue to come in between $6.5-$6.9 billion versus estimates of $6.81 billion.
History of AMD’s Q2 Revenue $AMD
— Bullish Rippers (@BullishRippers)
Aug 2, 2022
PayPal reported earnings on Tuesday after the market closed, posting numbers of:
EPS of $0.93 beating expectations of $0.86
Rev of $6.81B beating expectations of $6.78B
There were a lot of pertinent headlines from PayPal, so here's a list:
PayPal announced a new $15 billion share buyback program.
PayPal disclosed Elliott Management’s investment in the company is worth $2 billion.
PayPal said 22 million customers have used BNPL.
Venmo is on track to do $250 billion in volumes this year.
PayPal is planning a complete refresh of the Venmo app.
PayPal said next quarter it expects revenue to come approximately $6.8 billion below Wall Street estimates of $7.01 billion.
Occidental reported earnings on Tuesday after the market closed, posting numbers of:
EPS of $3.16 beating expectations of $3.07
Rev of $10.68B beating expectations of $9.96B
Moderna reported earnings on Wednesday before the market opened, posting numbers of:
EPS of $5.24 beating expectations of $4.59
Rev of $4.70B beating expectations of $4.07B
Moderna’s board approved a new $3 billion share buyback program.
Mercadolibre reported earnings on Wednesday after the market closed, posting numbers of:
EPS of $2.43 beating expectations of $1.96
Rev of $2.60B beating expectations of $2.50B
Lucid 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
Lucid revised their production volume outlook to 6,000-7,000 vehicles for the year from 12,000-14,000 vehicles for the year.
Alibaba reported earnings on Thursday before the market opened, posting numbers of:
EPS of $1.75 beating expectations of $1.52
Rev of $30.69B beating expectations of $30.05B
Square (Block) reported earnings on Thursday after the market closed, posting numbers of:
EPS of $0.18 beating expectations of $0.16
Rev of $4.40B beating expectations of $4.34B
Square reported Cash App revenue of $2.62 billion, beating expectations of $2.52 billion. Their revenue for the quarter came in at $1.79 billion, beating expectations of $1.7B billion.
AMC reported earnings on Thursday after the market closed, posting numbers of:
EPS of -$0.20 missing expectations of -$0.19
Rev of $1.17B beating expectations of $1.16B
AMC said they plans to give all common shareholders a special dividend of one AMC preferred share for every common share owned. The preferred equity units will trade under ticker $APE starting August 22.
DraftKings reported earnings on Friday before the market opened, posting numbers of:
EPS of -$0.29 beating expectations of -$0.87
Rev of $466M beating expectations of $438.3M
Warren Buffett's Berkshire Hathaway just reported earnings today (Saturday), posting numbers of:
Rev of $76.2B beating expectations of $72.5B
Buffett took a $66.9 billion hit on the value of its investments during the quarter, giving it a net loss of $43.8 billion during Q2. This means its EPS was -$29,754 for $BRK.A and -$19.84 for $BRK.B.
Warren Buffett and Berkshire Hathaway's $BRK.B $BRK.A equity portfolio is worth $327.7 Billion as of the end of Q2 down from $390.5B at the end of Q1
Top 4 largest holdings:
Apple $AAPL - $125.1B
Bank of America $BAC - $32.2B
Coca-Cola $KO - $25.2B
Chevron $CVX - $23.7B
— Stock Market News (@StockMKTNewz)
Aug 6, 2022
🛑 STOP SCROLLING 🛑
Bullish Rippers does countless hours of live free content every week on Twitter Spaces and after a lot of requests we're finally making recaps! 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!
Major Headlines From This Week
Celsius and Pepsi announced a new long-term strategic distribution arrangement for Pepsi will begin distributing Celsius drinks. Pepsi will also take a $550 million stake in Celsius. - CNBC
Apple has filed to raise $5.5 billion in a four-part debt offering. - Bloomberg
The SEC charged 11 Individuals in $300 Million crypto pyramid scheme. - SEC
Nikola has agreed to acquire Romeo Power in an all-stock transaction valuing the company ~$144 million. - PR
Nio delivered 10,052 vehicles in June, up 26.7% YoY but down 22.4% MoM. - Newswire
Robinhood announced plans to reduce their workforce by about 23%. - Tech Crunch
President Joe Biden signed the CHIPs Act into law. - Tweet
Michael Saylor will no longer be the CEO of MicroStrategy, with Saylor taking over as chairman of the board. - CNBC
The Nintendo Switch sold the most gaming consoles in the US during Q2. Meanwhile, Sony’s PlayStation 5 console generated the highest dollar sales during the quarter. - NPD Group
Meta Platforms COO Sheryl Sandberg officially left her role at the company. - Engadget
Nancy Pelosi landed in Taiwan. - Reuters
The winner of the $1.28 billion lottery will end up with $433.7 million after taxes if they take the lump sum option. - Watcher
Tiger Woods reportedly turned down an offer worth around $700-800 million to take part in the LIV Golf series - AP
Tiger Global is down 49.8% so far in 2022 as of the end of July. - Bloomberg
Walmart is cutting around 200 corporate roles in a restructuring effort. - Tech Crunch
Robinhood disclosed the SEC has been probing the company's compliance with short-selling rules since October 2021. - Bloomberg
Ford said they sold 163,942 vehicles during July, up 36.6% YoY. Ford also sold 7,669 EVs during July, up 168.7% YoY. - Ford
Tesla is testing a new version of its Solar Roof (Version 3.5) on employees’ homes ahead of a wider launch. - Electrek
Penn National Gaming changed their name to Penn Entertainment. - Tweet
Blackrock and Coinbase announced a partnership allowing BlackRock’s institutional clients to buy crypto using Blackrock’s Aladdin. - Tech Crunch
Costco had net sales of $16.85 billion during July, up 10.8% YoY. - PR
Apple's largest supplier Foxconn has expanded an existing factory for iPhones in India. - Yahoo Finance
Meta Platforms has officially started raising $10 billion of debt, its first ever debt raise. - Reuters
“I am no longer a huge crypto guy.” - Jim Cramer
Amazon has agreed to acquire IRobot for $1.7 billion. - The Verge
Tesla announced they will begin trading 3:1 split adjusted on August 25. - Filing
Oracle laid off hundreds of employees this week. - WSJ
Pfizer is in advanced talks to acquire Global Blood Therapeutics for approximately $5 billion. - Reuters
Palantir announced plans to accelerate hiring, increasing its workforce by about 25%. - Bloomberg
SpaceX disclosed they raised an additional $250 million in July. The filing didn't disclose who provided the funding or the valuation paid. - CNBC
Get Prepared For Next Week
Here's a preview of our new newsletter, the Bullish Rippers Twitter Spaces Newsletter:
In this Thursday’s Power Hour Twitter Spaces, we recap the current movement in the market, while also reflecting on what the market’s been through to get us in this position. Full hour breakdown of what our speakers’ thoughts on industries, such as crypto, pharma, and tech, how Monkeypox being declared a public health emergency plays a role, and what company earnings they are keeping a close eye on. Also, a deep dive into the psychological effect this market is having on traders and their investment mindset. All this and more is jam packed into an hour before rolling right into earnings mode!
Join us NOW for POWER HOUR!!
— WOLF (@WOLF_Financial)
Aug 4, 2022
4:30:57 - Intro
4:31:50 - Recap of what’s going on in the market
4:32:40 - What is Jay Woods looking at in the market?
4:38:05 - Brian Lund’s insight into today’s market movement
4:42:10 - How this run-up is affecting people
4:42:20 - Joseph Fahmy questions if this is a rally within a bear (market)?
4:44:38 - What would it take for sentiment to flip more bullish?
4:46:07 - How much does seasonality factor into trading and trading mindset?
4:50:20 - What the Fed said vs how the market is feeling
4:52:50 - Levels everyone is watching
4:54:24 - Jay’s breakdown of HKD situation
4:56:01 - Monkeypox plays
4:58:00 - CPI and Crypto Markets thoughts
5:00:35 - Pharma and Healthcare movement
5:04:16 - AMC, Monster, and other company earnings everyone is watching for
5:08:00 - Energy industry and Coinbase thoughts
5:14:29 - Next week’s events to keep on radar
5:18:50 - Tracking Google and Meta
5:23:45 - Ticker Symbols
5:29:34 - Closing remarks
Jay Woods: “Risk management is the most important thing as we all know”
Brian Lund: “Look at some of the leaders - you got Amazon back up above the 200 day, Apple above the 200 day, Microsoft above the 200 day. You've got some of the chip stocks, AMD, 8 qualcomm and LSCC, getting back above the 200 day. These are the moves you want to see - you want to see those sectors leading. You don’t want to see the Pelotons and Shopifys being the leader.”
Joseph Fahmy: “People forget and underestimate the power of psychology in the markets.”
Joseph Fahmy: “The market tends to fool the majority.”
Joseph Fahmy: “I use the seasonality and the statistics as a backdrop, but by no means as the main factor for my investing.”
Tweet shared during Spaces:
AMC has applied to list its $AMC Preferred Equity Units on the NYSE under the ticker $APE starting August 22nd
— Stock Market News (@StockMKTNewz)
Aug 4, 2022
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!