Tale of the Tape
Big cap tech got mangled today with the Nasdaq 100 closing down 2.67%. The heat map tells the tale…
We’re still only 3.4% from Monday’s all-time high close so this is hardly a shot across the bows.
Tesla sported the epic fade after last night’s earnings beat. The stock opened up 6% but gave it away all day closing down 5% and near the low. Ugly candle, sure, but was that a top? Place your bets…
Here’s the intraday…
Here’s more carnage for you. Apple fell 4.5%. Micro < was very> Soft down 4.35%. FacePalm ($FB) -3%. Amazon was on sale off 3.66%. Google was brutal -3.37%. The list goes on…
Small caps were better with the Russell 2K closing flat like Iowa (not Idaho 😉) and we’re heading into Friday with the prospects of the little puppies outperforming tech for the second straight week. Do you believe in miracles?
Here’s your closing prices on the major equity indices:
| S&P 500 | 3,235 | -1.23% |
| Nasdaq | 10,461 | -2.29% |
| Russell 2000 | 1,490 | +0.00% |
| Dow Jones | 26,652 | -1.31% |
Twitter Earnings
🎵Twee Twee Twee, Twittah. Sing along y’all…
Twitter reported earnings this morning and user growth looked hella good, people. Monetizable Daily Active Users grew 34% year over year, better than the 25% expectations.
Revenue missed and execs used COVID as an excuse but c’mon, these guys have been punk turning a buck since the Pleistocene Epoch.
But can you believe this? Nobody on the conference call said anything incredibly stupid and the stock held some of its early gains to close higher despite the Nasdaq 100 bloodbath.
$TWTR closed up 4% to 38.44, a 5 month high. Miraculous.
One other item of note. Jack reported the company is looking at other ways to monetize including user subscriptions. No Ship Sherlock. Twitter has been laughably slow to the freemium model which has been blazing hot.
It’s the stupid obvious play so kudos but they still gotta actually make it happen.
Sluggish iteration has been the hallmark of this bird but we’re still rooting for you Twittah Twittah. 🤞
Relative Strength in the Airlines
The airlines showed some signs of life today as many of the major airliners reported earnings.
Delta Airlines $DAL +2.02%
United Airlines $UAL +4.93%
American Airlines $AAL +3.70%
Spirit Airlines $SAVE +1.08%
The airline ETF, $JETS is holding above its former support area around $15. Can it keep it up or should we expect more turbulence? Place your bets…
Here’s IBD with more on the airlines.
Earnings Wrap-Up
Intel, Ugh, Down 9% After Hours
EPS: $1.23 vs $1.11 est.
Revenue: $19.7B +19.5% YoY
Here’s more from CNBC.
Tractor Supply, +0.03%
EPS: $2.90 vs $2.60 est.
Revenue: $3.18B +35.3% YoY
Here’s IBD with more.
Cintas, Sweet, +4.72%
EPS: $1.35 vs $1.23 est.
Revenue: $1.6B -9.5% YoY
Read more from the SF Chronicle.
Welcome, $MEG
Montrose Environmental Group began trading under ticker $MEG today. The stock was priced at $15, opened at $16.50, and closed at $22. Not a bad debut, here’s the intraday:
We’ll see if this move is sustainable. lolz!
Investors seem hungry for pro-Earth stocks. $MEG provides measurement & analytical services as well as environmental resiliency & sustainability solutions. Given that companies are pledging to be “carbon neutral by xyz” firms like $MEG could be in high demand.
Click here to learn more about the company.
Mike Tyson is Back
15 years later, former heavyweight champion and overall BAMF, Mike Tyson, will return to the ring. If you keep up to date on the socials, it might not come as a surprise since he’s been posting some dope content.
Tyson will square off against Roy Jones Jr. on September 12th in an eight-round exhibition match. For those who don’t know, Jones is also one of the greatest boxers of all time, having held world championship belts in 4 weight classes.
Who y’all got? We don’t bet against guys who walk pet tigers🤷
Stocktwits After-Hours
Stocktwits After-Hours: July 23, 2020
Check this out.
Speaking of sustainability… here’s a sustainable lodge in the Namib desert in Namibia, Africa. This place looks sweet, check out that freakin view. 😯😯😯
Yo Howard, feel free to send me anytime… for research of course. 😘 RR
Earnings Tomorrow
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
🤬 The Difference Between Effort and Pain
🏡 Amid COVID, San Diego home price hits highest ever
💧Luxury Cars Are Embracing the “Drop” Model Favored by Supreme, Nike
🍎 Apple commits to be 100 percent carbon neutral for its supply chain and products by 2030
☯ Infinite Loops ~ Rory Sutherland: Human Behavior, Innovation, and Alchemy
📈 Brokers Confirm Rise of Retail Trading
🏥 Novavax and FUJIFILM Diosynth Biotechnologies Initiate Large Scale Manufacturing of COVID-19 Vaccine Candidate
