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.

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.

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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

Monday:

• 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

Tuesday:

• 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

Wednesday:

• 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

Thursday:

• 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

Friday:

• 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

Economic Calendar

Earnings Calendar

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

Power Hour

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!

Hosts:

• WOLF (@WOLF_Financial)

• Stock Market News (@StockMKTNewz)

Speakers:

• Joseph Fahmy (@jfahmy)

• Jay Woods (@JayWoods3)

• Brian Lund (@bclund)

Chapters:

• 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

Speaker Quotes:

• 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:

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!