Rippers Weekly Recap 7/15: The Start of Earnings Season, Jim Cramer Ringing The Opening Bell At The NYSE On Monday (7/18) 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 -- 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 the latest earnings of the week!

How The Stock Market Performed This Week

**All images embedded from Finviz.com**

Heat Map of the S&P 500

The Major Indexes

How The Largest Stocks Performed

Best Performing Large Cap Stocks

Worst Performing Large Cap Stocks

Major Earnings This Week

Pepsi reported earnings on Tuesday before the market opened posting numbers of:

• EPS of $1.86 beating expectations of $1.73

• Rev of $20.23B beating expectations of $19.49B

Pepsi said it expects its FY22 revenue to be up 10% YoY up from previous guidance of up 8% YoY

Delta reported earnings on Wednesday before the market opened posting numbers of:

• EPS of $1.44 missing expectations of $1.71

• Rev of $13.82B beating expectations of $13.50B

Taiwan Semiconductor reported earnings on Thursday before the market opened posting numbers of:

• EPS of $1.55 beating expectations of $1.50

• Rev of $18.16B beating expectations of $18.31B

TSMC said next quarter it expects revenue to come in between $19.8 to $20.6 billion.

JPMorgan Chase reported earnings on Thursday before the market opened posting numbers of:

• EPS of $2.76 missing expectations of $2.85

• Rev of $34.23B beating expectations of $31.98B

JPM said it has temporarily suspended its share buyback program allowing for "maximum flexibility."

UnitedHealth reported earnings on Friday before the market opened posting numbers of:

• EPS of $5.57 beating expectations of $5.24

• Rev of $80.33B beating expectations of $79.68

BlackRock reported earnings on Friday before the market opened posting numbers of:

• EPS of $7.36 missing expectations of $7.94

• Rev of $4.53B missing expectations of $4.80B

Citigroup reported earnings on Friday before the market opened posting numbers of:

• EPS of $2.30 beating expectations of $1.67

• Rev of 23.03B beating expectations of $18.04B

Headlines From This Week

Monday:

• Facebook announced the launch of Sphere, an "AI knowledge tool based on open web content, used initially to verify citations on Wikipedia.” - Tech Crunch 

• Rivian plans to cut about 5% of its workforce in the coming weeks. - CNBC 

• Amazon is reportedly working on cancer vaccines with Fred Hutchinson. - Business Insider 

• GameStop’s NFT Marketplace goes live. In just 48 hours, it now has more lifetime sales volume than Coinbase's NFT marketplace. - Decrypt 

• Gap announced CEO Sonia Syngal is stepping down from her role effective immediately. - WSJ 

• Twitter confirms Wachtell as its legal representation in its deal against Elon Musk. - Reuters 

• The DOJ is investigating if the PGA Tour engaged in anticompetitive behavior as it battles LIV Golf. - ESPN 

• Disney’s Thor: Love and Thunder brought in $143 million at the US box office and $159 million internationally during its opening weekend. - Deadline 

Tuesday:

• S&P 500 companies paid out a record $140.6 billion in dividends during Q2 up 14% YoY. - WSJ

• Google owned YouTube said it has 5 million people are currently either paying for or testing out YouTube TV. - The Verge

• Apple has ended its consulting pact with ex-design leader Jony Ive. - MacRumors

• Disney signed an advertising deal with The Trade Desk, “making it possible for brands to target automated ads across Disney properties." - Tech Crunch

• BMW is now selling subscriptions for heated seats in a number of countries for $18 per month. - The Verge

• Microsoft says it cut less than 1% of its global workforce as a part of a “structural adjustment.” - Bloomberg

• Peloton announced it will completely out-source the production of its bikes and treadmills to “reduce costs and simplify its supply chain.” - The Verge

• Walmart announced it signed a definitive agreement with Canoo to purchase 4,500 all-electric delivery vehicles. - Electrek

Wednesday:

• CPI for June came in at 9.1% (YoY) above expectations of 8.8%. - BLS

• Google CEO Sundar Pichai said the company will slow down hiring for the remainder of 2022. - CNBC

• 1 US Dollar is now worth more than 1 Euro. - Google

• The Bank of Canada today raised rates by 100 Basis Points. - FT

• Tesla’s head of Computer Vision Andrej Karpathy said he’s leaving the company. - Twitter 

• Netflix picked Microsoft as its “global advertising technology and sales” partner for its ad-supported service. - Netflix

• Square owned Afterpay announced a partnership with Sephora to bring BNPL to the beauty retailer. - MarketWatch

• Unity Software announced it has agreed to acquire IronSource in an all-stock deal that values the company around $4.4 billion. - PC Gamer

Thursday:

• Nancy Pelosi filed for 3 more trades she made - Benzinga

• Amazon has started “drastically reducing” the number of items it sells under its own private-label brands. They’ve also reportedly discussed the possibility of exiting the private-label business entirely to alleviate regulatory pressure. - WSJ

• Activist investor Elliott Management has taken a 9%+ stake in Pinterest. - CNBC

• The average monthly rent in Manhattan climbed above $5,000 in June for the first time ever. - NYP

• China's Q2 GDP growth came in at 0.4% YoY below estimates of 1% YoY. - CNBC

• Italy’s Prime Minister Mario Draghi said he will resign from his position but Italy’s president ​​Sergio Mattarella rejected his resignation. - Reuters

• The first single-stock ETFs went live including a short Tesla ETF trading under the ticker $TSLQ. - Bloomberg

Friday:

• ​​As of Friday's close, Google's stock split is now official, Google will open trading on Monday split-adjusted

• Disney owned ESPN+ is raising the monthly price of its services to $9.99 up from $6.99 to reflect the price of sports rights deals. - Variety

• Amazon has expanded its drone delivery services to College Station, Texas. - Engadget

Get Prepared For Next Week

Economic Calendar

Earnings Calendar

And finally ... The power of inverse Cramer has proven itself to be strong. You have been warned 😂

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That's it for today — thanks for reading Rippers! Stay bullish, and we'll see you all in the next one 🔥