Hey everyone, it’s @StockMKTNewz Evan!
I spend 70 hours every week looking for news so you don't have to. I want you to see everything major from the week 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! You can always see the moves I make and what individual stocks I own on my Savvy Trader Portfolio.
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
Major Earnings
Nike reported earnings Tuesday after the market closed, posting numbers of:
EPS of $0.85, beating expectations of $0.65
Revenue of $13.3B, beating expectations of $12.54B
Nike reported inventories of $9.3 Billion up 43% YoY
FedEx reported earnings Tuesday after the market closed, posting numbers of:
EPS of $3.18, beating expectations of $2.83
Revenue of $22.8B, missing expectations $23.74B
Micron reported earnings Wednesday after the market closed, posting numbers of:
EPS of -$0.04, missing expectations of -$0.01
Revenue of $4.08B, missing expectations of $4.12B
Micron said it expects to fire about 10% of its workforce in 2023
Elon Musk Joined My Spaces!
On Thursday night, Elon joined my Twitter Spaces for more than an hour and answered a bunch of questions. he also said he won't sell any more Tesla stock for two years!
Major Headlines From This Week
Monday:
Meta said it will continue to devote about 20% of its overall costs and expenses to its reality lab/metaverse segment in 2023 - Bloomberg
EU regulators filed a formal complaint against Meta for allegedly squeezing out ad rivals by tying the Facebook Marketplace to its own social network - Bloomberg
The SEC awarded more than $37M to a whistleblower whose information contributed to a successful enforcement action - Bloomberg
The Supreme Court has scheduled arguments regarding President Biden's student debt forgiveness plan for February 28 - CNBC
Binance US has agreed to acquire the assets of Voyager Digital for $1.02B - Newswire
Tesla will reportedly invest a total of more than $10B in its new Mexican factory. Tesla will invest $800M-$1B in the first phase - The Verge
Amazon Web Services was awarded a $723.9M contract with the US Navy - DoD
Tesla has now completed more than 500,000 solar panel and solar roof installations - Twitter
Steel Dynamic replaced Abiomed in the S&P 500 - Newswire
State agencies in Louisiana and West Virginia today became the latest to ban the use of the popular social media service TikTok on government-managed devices - Reuters
SoFi CEO Anthony Noto filed for his purchase of 525,000 shares of SOFI at an average price of $4.59 per share for a total of $2.41M - SEC
Amber Heard and Johnny Depp have settled their defamation case for a reported $1M, down from the $8M she had been ordered to pay - Variety
Tuesday:
Two senators have proposed changing the tax reporting threshold for Venmo and PayPal up to $10,000 from $600 - CNBC
Delta Air Lines is expected to begin rolling out free Wifi for its passengers starting as soon as early 2023 - The Verge
Elon Musk said he will resign as Twitter CEO as soon as a successor is found - Twitter
Apple will reportedly start making MacBooks in Vietnam by mid 2023 - Nikkei
Wells Fargo has agreed to a $3.7B settlement with the CFPB over consumer abuses - NPR
Amazon has agreed to a EU antitrust truce and will now let EU sellers have free choice of any carrier for logistics and delivery - Bloomberg
The Treasury Department delayed its plans to issue guidance for the sourcing of EV batteries for federal tax incentives to March - CNBC
Tesla listed its first job openings in Turkey all for service employees in Istanbul - Electrek
Amazon Fire TV users in the US can now watch tens of thousands of music videos from major and independent labels for free - Tech Crunch
Japan’s two-year yield rose above zero for the first time since 2015, bringing the global era of negative yields to an end - Bloomberg
Netflix's new ad-supported plan was its least popular tier in November accounting for just 9% of new Netflix sign-ups in the US - Variety
The US Postal Service announced plans to increase its planned electric vehicle purchase now intending to deploy over 66K EVs by 2028 - USPS
US auto safety regulators are investigating claims that Hertz rented out unrepaired recalled vehicles to customers - NYP
The World Cup final between Argentina and France averaged 25.78 Million viewers in the US the second largest audience ever for a Soccer game in the US - Hollywood Reporter
Wednesday:
New York's first legal recreational marijuana sales will begin in New York City on Dec. 29 - Twitter
Tesla informed some employees that it is freezing hiring and plans more layoffs in the first quarter of 2023 - Electrek
Palantir has entered into an enterprise agreement with the UK Ministry of Defense worth £75m over 3 years - Newswire
Google approved a new equity award for CEO Sundar Pichai that ties more of his pay to performance - Reuters
Netflix plans to commit $848M to build a new production facility in New Jersey - Hollywood Reporter
Citadel expects to return about $7B in profits to its clients on the back of what is expected to be its most profitable year ever - Reuters
Tesla is now offering a discount of $7,500 up from $3,750 for anyone that takes delivery of a new/inventory Model Y or Model 3 in the US before the end of 2022 - InsideEVs
Intel broke up its graphics-chip segment in a bid to accelerate efforts - Bloomberg
Google, Facebook, and Salesforce are among the US technology companies seeking to abandon leased office space in London and Dublin - FT
General Dynamics was awarded a $5.13B modification to a contract with the US Navy - DoD
Netflix will start streaming workout classes from Nike Training Club on its service - The Verge
Justin Bieber is close to a deal to sell his music rights to Blackstone-backed Hipgnosis Songs Capital in a transaction valued around $200M - WSJ
New census data shows the UK's population has now reached 67M people, up 5.9% from the last census. The median age of the UK is now at 40.7, up from 39.6 years in mid-2011 - Bloomberg
Former Theranos COO Ramesh “Sunny” Balwani has appealed a criminal fraud conviction and almost 13 year prison sentence - Yahoo Finance
Elon Musk said he now thinks Twitter will roughly hit cash flow break even in 2023 - SeekingAlpha
Hundreds of Tyson Foods employees plan to leave the company as it consolidates its corporate offices to northwest Arkansas next year - WSJ
The Biden administration announced a new nearly $2B arms package for Ukraine that for the first time includes a Patriot air-defense system - WSJ
Netflix considered allowing users to rent pay-per-view content through their subscriptions as a way to end password sharing - The Streamable
Ukraine has reached a deal with Elon Musk’s SpaceX to receive more than 10,000 additional Starlink antennas - Engadget
Seven Republican US senators announced a new bill aimed at reshaping the Fed's 12 regional banks, amid concerns that those institutions have become too political - Reuters
A bipartisan group of senators introduced a bill aimed at increasing transparency for TikTok, Twitter, Facebook and other social media companies - NYP
Thursday:
Google owned Youtube has agreed to pay roughly $2B a year for the residential rights to NFL Sunday Ticket - CNBC
AMC is seeking shareholder approval for a 1:10 reverse split and to convert the APE units into common shares - CNBC
FTX founder SBF to be released on $250M bail - CNBC
Google told employees more of them will be at risk for low performance ratings next year estimating that 6% of full-time employees will fall into a low-ranking category that puts them at higher risk for corrective action, versus 2% before - CNBC
Taiwan Semiconductor is in advanced talks with suppliers about setting up its first European plant in Germany - Reuters
The final revision for Q3 GDP in the US just came in at +3.2% above the previous number of +2.9% - BEA
Sea Limited is freezing salaries for most staff and plans to pay out smaller bonuses this year - Bloomberg
TikTok employees improperly accessed TikTok user data of two US journalists - Reuters
Friday:
The IRS announced it’s delaying its new reporting rule for transactions over $600 by 1 year to next tax season - WSJ
Caroline Ellison admitted during her hearing she conspired to use Billions of dollars from FTX customer accounts to repay loans Alameda had taken out to make risky investments - WSJ
Michael Bloomberg is interested in acquiring either Wall Street Journal's parent company Dow Jones or The Washington Post - Axios
Meta has agreed to pay a $725M fine to settle a lawsuit that claimed Facebook illegally shared user data with Cambridge Analytica - Tech Crunch
Netflix released the compensation its executives will receive in 2023 with Reed Hastings receiving a base salary of $650K and $34M worth of stock options - Twitter
Lockheed Martin was awarded a $1.05B contract with the US Government to maintain on-time production and delivery of 118 Lot 18 F-35 aircraft - DoD
Disney said box office sales for "Avatar 2" are being impacted by bad weather in the US - Hollywood Reporter
The FED's preferred inflation index PCE for November came in at +5.5% YoY, in line with expectations (Core PCE came in at +4.7% YoY above expectations of +4.6% YoY) - BEA
The House passed the $1.7T spending bill sending it to President Biden’s desk - CNBC
Happy Holidays From Bullish Rippers!
As a thank you for supporting our newsletter, here's 50% off all our hats and water bottles from the Bullish Studio Store 🎁
Get Prepared For Next Week
Economic Calendar
Earnings Calendar
That's it for today — thanks for reading! Want more Rippers? Subscribe to our Twitter Spaces Recaps and get LIVE reactions from the latest market news 📈