Rippers Weekly Recap 9/03: Another Boat Stuck In The Suez, OnlyFans Is Bringing In A LOT of Money Plus Much Much More

Hey everyone, it’s @StockMKTNewz Evan! I started writing this newsletter to make sure you never miss anything important from the week in the market. I want you all to 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

Worst Performing Large Cap Stocks

Earnings Headlines

Pinduoduo reported earnings Monday before the market opened, posting numbers of:

• EPS of $1.05, beating expectations of $0.39

• Rev of $4.69B, beating expectations of $3.49B

Okta reported earnings on Wednesday after the market closed, posting numbers of:

• EPS of -$0.08, beating expectations of -$0.30

• Rev of $451.8M, beating expectations of $429.8M

Best Buy reported earnings Thursday before the market opened, posting numbers of:

• EPS of $1.54, beating expectations of $1.26

• Rev of $10.33B, beating expectations of $10.27B

Best Buy said it's withdrawing its Fiscal 2025 financial goals.

Broadcom reported earnings after the market closed on Thursday, posting numbers of:

• EPS of $9.73, beating expectations of $9.55

• Rev of $8.46B, beating expectations of $8.37B

Broadcom said it expects revenue next quarter to come in at around $8.9 billion, above consensus estimates of $8.73 billion.

Lululemon reported earnings after the market closed on Thursday, posting numbers of:

• EPS of $2.20, beating expectations of $1.86

• Rev of 1.87B, beating expectations of $1.77B

Lululemon said it expects revenue next quarter to come in between $1.78-$1.8 billion, above consensus estimates of $1.73 biillion.

Lululemon said it's entering Spain, its first new region in 3 years.

NEW MUGS!!!!

I just released the 4th mug to my store ... The real reason Rome fell, Inverse Cramer!!

Click here or the photo below to check it out! I really appreciate everyone that has been supporting me and my page 🙏

Major Headlines From This Week

Monday:

• AMD Ryzen 7000 release event. - Youtube

• More than 10.2 Million people watched the second episode of HBO's “House of the Dragon” Sunday night, up 2% from the opening night of the premiere episode. - The Wrap

• Ford is working on an electric truck that’s not an F-150 Lightning. - The Verge

• Meta introduced its first end-to-end shopping experience on WhatsApp with JioMart in India. - Newsroom

• Sony has agreed to acquire Savage Game Studios, which will join Sony’s newly created PlayStation Studios Mobile division. - Playstation Blog

• Lucid filed for a mixed shelf offering of up to $8 billion. - Reuters

• Tesla filed a lawsuit to challenge a Louisiana law it says restricts its ability to sell electric vehicles directly to customers. - Yahoo

• Disney won the rights to air four years of global cricket events to its subscribers in India. - Variety

Tuesday:

• Boeing was awarded a contract with the US Missile Defense Agency worth a maximum of $5 billion. - DoD

• CACI was awarded a $5.7 billion blanket purchase agreement with the US Air Force for “Enterprise Information Technology as a Service (EITaaS) Wave 1." - DoD

• Royal Caribbean announced it plans to implement SpaceX's Starlink to "provide high-speed internet onboard full cruise fleet." - Tech Crunch

• Elon Musk filed another notice to terminate his acquisition of Twitter. - CNBC

• Tesla plans to build a new battery manufacturing equipment line at the Fremont Gigafactory. - Teslarati

• Facebook contractors doing content moderation for the company are expected to lose work by the end of this year. - Business Insider

• CPI for Germany in August was 7.9% (YoY), above expectations of 7.8%. - Investing

• Toyota said it produced 706,547 vehicles worldwide during July, down 8.6% YoY and below its target of around 800K units. - Reuters

Wednesday:

• Nvidia said the US government is restricting sales of high-performance AI chips for servers, including Nvidia’s A100 and H100, to China and Russia. - CNBC

• Snapchat plans to lay off about 20% of its workforce, along with stopping certain projects, including Zenly and Voisey, to help the company refocus. - Deadline

• Bed Bath & Beyond revealed its new turnaround plans, including laying off approximately 20% of its corporate and supply chain employees and filing for a share offering of up to 12 million shares. - Newswire

• 3M plans to cut jobs as part of a broader cost cutting initiative. - Bloomberg

• The DC AG is suing Michael Saylor for not paying his taxes. - Cointelegraph

• Boeing was awarded a $2.2 billion modification to a previous contract with the US Air Force for 15 KC-46A aircraft. - DoD

• Disney is exploring a membership program that could offer discounts or special perks to encourage customers to spend more on its streaming services, theme parks, resorts and merchandise. - WSJ

• NASA has awarded SpaceX 5 more crewed flight missions to the Space Station, worth $1.44 billion. - NASA

• House of the Dragon co-showrunner, executive producer, and director Miguel Sapochnik is leaving the HBO series. - Variety

• Netflix is planning to charge advertisers approximately $65 per thousand views and is only looking for brands that will spend $20 million per year. - Tech Crunch

• Navigation through the Suez Canal was briefly halted Wednesday night as another ship got stuck in the canal before being freed by tugboats. - The Guardian

Thursday:

• OnlyFans creators earned $3.9 billion in 2021, up 115% YoY. The company itself brought in $932 million of revenue, up 160% YoY. Its pre-tax profits were $433 million, up from $61 million in 2020. - Variety

• The U.S. Army has approved an order to buy thousands of HoloLens combat goggles made by Microsoft, with the army expecting to spend around $21.9 billion on the goggles over the next 10 years. - Yahoo News

• Tesla's sales in China for August are expected to reach 77,000 units, according to CPCA data. - CNEVPost

• Nvidia said the US government will allow it to continue developing its H100 artificial intelligence chip in China. - CNBC

• Twitter is officially testing the edit tweet feature, allowing editing in the first 30 minutes after a post - Twitter

• A GameStop movie called "Dumb Money" is currently in the works, with Seth Rogen and Pete Davidson set to star in the movie. - CNBC

• Serena Williams' second US Open match drew ESPN 2.3 million viewers. - FOS

• CPI for South Korea in August was 5.7% (YoY), below expectations of 6.1%. - Reuters

• Starbucks has named Laxman Narasimhan as its next CEO. - Starbucks

• Nio said it delivered 10,677 vehicles in August, up 81.6% YoY. - NIO

Friday:

• S&P 500 Rebalancing: CoStar and Invitation Homes will replace PVH and Penn Entertainment in the index effective before the markets open on Sept 19. - Newswire

• Facebook has agreed to acquire Lofelt, a Berlin startup whose technology aims to replicate the illusion of touch in virtual reality. - WSJ

• The US unemployment rate for August was 3.7% above estimates of 3.5%. - BLS

• Qualcomm and Meta announced a new multi-year agreement that will see Meta use Qualcomm’s Snapdragon XR platform to power its VR and AR devices. - The Verge

• Warren Buffett's Berkshire Hathaway sold some BYD shares multiple times during the week. - Bloomberg

• Ford sold a total of 158,088 vehicles in the US during August, up 27.3% YoY (5,897 EVs up 307.3% YoY). - Ford

• Amazon has reportedly abandoned dozens of existing and planned facilities around the US. - Bloomberg

• Disney has filed for a mixed shelf offering of an undisclosed size. - SEC

• CVS is in advanced talks to acquire Signify Health. - WSJ

Get Prepared For Next Week

Reminder the stock market will be closed on Monday (September 5th) for Labor Day

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 📈