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!
**All images embedded from Finviz.com**
Heat Map of the S&P 500
The Major Indexes
How the major indexes performed this past week
The Dow Jones $DIA was down 0.16%
The S&P 500 $SPY was down 0.93%
The NASDAQ 100 $QQQ was down 1.57%— Stock Market News (@StockMKTNewz)
8:25 PM • Jul 15, 2022
How The Largest Stocks Performed
Best Performing Large Cap Stocks
Worst Performing Large Cap Stocks
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
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
Economic Calendar
Earnings Calendar
And finally ... The power of inverse Cramer has proven itself to be strong. You have been warned 😂
Jim Cramer will be ringing the opening bell at the NYSE on Monday
— Stock Market News (@StockMKTNewz)
1:59 PM • Jul 14, 2022
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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 🔥
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