Rippers Weekly Recap 11/26: Bob Iger is Back, Budweiser Throwing A Party and Much More

Hey everyone, it’s @StockMKTNewz Evan! You can always see the moves I make and what individual stocks I own on my Savvy Trader Portfolio.

I started writing this newsletter to make sure you never miss anything important from the week in the market. I want you all 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 one). So, if you’re interested in a story or image, click in and explore!

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How The Stock Market Performed This Past Week

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How The Largest Stocks Performed

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Major Earnings

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

• EPS of $7.44, beating expectations of $7.11

• Revenue of $15.54B, beating expectations of $13.39B

Deere said the company has made progress on clearing partially completed machines from its inventory.

Zoom reported earnings Monday after the market closed, posting numbers of:

• EPS of $1.07, beating expectations of $0.83

• Revenue of $1.10B, in line with expectations

Major Headlines From This Week

Monday:

• Disney announced Bob Iger would be returning as CEO for 2 years and receiving $27M of total compensation per year to take on the role - CNBC

• New York issued its first recreational marijuana dispensary licenses - NBC

• Elon Musk told Twitter employees that no more layoffs are planned and that they are now encouraged to make referrals for new hires in engineering and sales roles - The Verge

• Carl Icahn began shorting GameStop in January 2021 and still holds a large position - Bloomberg

• Amazon Web Services is launching its second infrastructure region in India - Amazon

• Photos and internal documents from a Beyond Meat plant in Pennsylvania allegedly show mold, listeria and other food-safety issues - Bloomberg

• Domino’s Pizza is rolling out a fleet of 800 custom-branded 2023 Chevy Bolt electric vehicles - The Verge

• Tesla reportedly chose Taiwan Semiconductor as its supplier of choice for its next-generation full self-driving computer - Teslarati

• SpaceX's Starlink is now available in Canada and Alaska - SpaceX

• Amazon considered investing hundreds of millions of dollars in Argo AI but was scared away by Argo tech costs - Yahoo

• Lawmakers called on bank regulators to review Sofi’s crypto moves. Sofi responded by saying crypto remains a nonmaterial component of its business - CNBC

• JPMorgan remains the world's most systemically important bank - Reuters

• Merck agreed to acquire Imago BioScience for $1.35B in cash - Bloomberg

• Taiwan Semiconductor is planning to produce its 3NM chips in Arizona - Reuters

• Tesla is teasing an integration Apple Music app into its vehicle software that could be coming soon - Electrek

• Budweiser will throw a celebration for the country that wins the FIFA World Cup with its massive stockpile of beer Qatar restricted it from selling inside stadiums - Newsweek

Tuesday:

• ​​The Biden administration announced that it will extend the pause on federal student loans until after June - CNBC

• Avatar 2 needs to bring in more than $2 billion to break even - CNN

• Tesla CEO Elon Musk told South Korea’s president the country is one of its top candidates for investment - InsideEVs

• Manchester United's owners, the Glazer family, announced they're exploring a sale of the team: “The board will consider all strategic alternatives, including new investment into the club, a sale" - ESPN

• Caterpillar successfully demonstrated its first battery electric 793 large mining truck - Newswire

• Amazon Alexa is reportedly responsible for $10B in expenses in 2022 - Apple Insider

• Nvidia CEO Jensen Huang exercised employee stock options for 229,603 shares of $NVDA, for $3.155 per share - SEC

• HP said it plans to layoff 4,000-6,000 employees globally over the next three years - CNBC

• A rumor circulated that Mark Zuckerberg plans to step down as Meta CEO, but it was quickly denied by a Meta spokesperson - Yahoo

• Intel has elected Blackrock co-founder Barbara Novick to its board of directors - Intel

• Top Gun Maverick will be added to Paramount+ on Thursday, December 22 - Paramount

Wednesday:

• The minutes from the November’s FOMC meeting were released

  • Most officials backed slowing the pace of hikes soon

  • Several officials saw increased risks from rapid hikes

  • Various officials saw rates peaking at a higher level

• Amazon plans to spend $1B a year to release at least 12 films annually in theaters - CNBC

• Disney CEO Bob Iger plans to hold a town hall meeting with all employees Monday - CNBC

• Nvidia plans to set up a logistics center in Taiwan - Digitimes

• Nintendo’s newest Pokemon game Scarlet and Violet sold 10M units in its first three days - IGN

• Apple is poised to launch its Apple Pay service in South Korea, pending regulatory approval - Tech Crunch

• Sony currently expects to release the Playstation 6 in late 2027 or 2028 - EuroGamer

• Apple employees at a St. Louis store withdrew their petition to unionize - 9to5Mac 

• The SEC may propose new rules that would expand its oversight of bond and options trading - Bloomberg

• Google employees say there’s growing anxiety internally that layoffs may be coming - CNBC

• Apple is close to a deal for the book rights to Michael Lewis' story about the fall of Sam Bankman-Fried and FTX - Deadline

• Job listings show Netflix is trying to make an AAA PC game - Tech Crunch

• New York is now the first state to limit Bitcoin mining - CNBC

• Meta is now allowed to start selling its Oculus Quest 2 VR headset in Germany after appeasing local regulators and no longer requiring a Facebook account to sign in - Reuters

• AMD is raising the price of Xilinx based FPGA products by up to 25% starting 2023 - Wccftech

Thursday:

• Congressman Alan Lowenthal bought more than $50M worth of US Treasuries - CongressTrading

• Budweiser is reportedly seeking a $47.4M deduction in how much it has to pay to sponsor the 2026 World Cup after Qatar decided to ban beer sales in stadiums last second - FOS

• Apple reportedly "expressed interested" in buying Manchester United - 9To5Mac

• Tesla is rumored to be working on integrating Dolby Atmos in its cars for better surround sound - Electrek

Friday:

• Disney CEO Bob Iger reportedly thinks park prices are too steep - NYP

• Walmart took the top spot among shoppers who are searching online for Black Friday discounts - CNBC

• Amazon plans to shut down its food delivery business in India - Tech Crunch

• Bill Ackman said his hedge fund has taken a "large notional short position" against the Hong Kong dollar - Twitter

• Adobe says consumers spent a record $5.29B on Thanksgiving day, up 2.9% YoY - Yahoo

• Adidas is launching a probe into alleged misconduct by Kanye West during their partnership - WSJ

• Binance created a $2B “Crypto Recovery Fund” - Coindesk

• Visa said US payments volume in November increased by 9% YoY - SEC

• Jaguar Land Rover is reducing vehicle output in the UK through March, due to the semiconductor shortage - Bloomberg

• Shanghai Disneyland reopened - Deadline

• The Dow Jones closed at its highest level since April 21 - MorningStar

• Production at Apple’s largest iPhone factory managed by Foxconn could be down by at least 30% in November - Reuters

• Shopify reported Black Friday sales of $3.36B, up 17% YoY - Bloomberg

Get Prepared For Next Week

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Earnings Calendar

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