DraftKings Made the Cut.

Tale of the Tape

Good evening folks. It was a quiet summer day for the majority of the session until the market fell ill closing at its lows.

Here’s the intraday chart, you can see the weakness into the close.

No wonder things are slow. It’s the end of July and everyone is on vacation. Did you hear that Goldman Sachs CEO, David Solomon, opened for The Chainsmokers in South Hampton? 🤣🤣🤣

A handful of companies reported earnings today. AMD was up a quick 10%. See the round-up below.

Here are the closing numbers.

S&P 5003,218-0.65%
Russell 20001,469-1.00%
Dow Jones26,379-0.77%

Earnings Round-Up

AMD is relentless. The stock ripped 26% last week and it’s up another 10% after-hours following its earnings.

The company saw 26% revenue growth in Q2 and raised guidance for the current year. 

EPS: $0.18 vs $0.16 est.
Revenue: $1.93B +26% YoY

Here’s CNBC with more.

Starbucks earnings weren’t quite as bad as expected but they weren’t great. The company cited same-store sales were down 41% YoY vs the 43% expected. Despite this, the stock was up 2% after-hours. lol

EPS: ($0.46) vs ($0.61) est.
Revenue: $4.22B -38% YoY

Here’s the Wall Street Journal with more.

EBAY reported earnings after the close and beat on both the top and bottom lines. The stock was slightly down after hours, but it’s still up 57% YTD. 

EPS: $1.08 vs $1.05 est.
Revenue: $2.9B +6.6% YoY

Check out IBD with more.

Pfizer Vaccine?

This morning, Pfizer reported better than expected earnings. The stock gapped higher and managed to hold its gains throughout the day. $PFE finished up 3.94%, closing at its highest level since January 27th.

The company also announced Monday that it began Phase 2 & 3 trials on its Covid-19 vaccine. Pfizer partnered with BioNtech, a German company for the treatment.

EPS: $0.78 vs $0.64 est.
Revenue: $11.8B -11% YoY

DraftKings Made the Cut. 

The PGA paired up with DraftKings making the company its official betting operator. Here’s a quote from Norb Gambuzza, PGA TOUR Senior Vice President of Media and Gaming.

The growth in consumption and fan engagement we have seen over the last year in our DraftKings Daily Fantasy games has been tremendous. The expansion of the relationship to now include sports betting is a natural evolution and one which fully supports and promotes the PGA TOUR’s objectives of reaching and engaging new segments of fans while introducing them to our players, tournaments and media platforms.

We can’t wait to see how this partnership will develop.  

Here’s the PGA Tour with more.

Gameboy Tribute 👀

Analogue, a video game developer, created a Gameboy tribute device called the Pocket. This thing looks freakin sick, and boy does it bring back some memories. 

The Pocket will cost $199.99 and pre-orders open on August 3rd

Florida Man 🙄🤣

Get this, a man in Florida took coronavirus relief money and decided to go buy a Lambo. You can’t make this sh*t up. 🤣 

Here’s the NY Times with the story.

Earnings Tomorrow

Be sure to know when your stocks report earnings. Here’s the full earnings calendar.

Links That Don’t Suck

🌌 Stocktwits After-Hours: July 28, 2020

👀 Patrick Mahomes Is Now a Part-Owner Of The Kansas City Royals

⚠️ SEC Notice Amounts to ‘Declaration of War’—and Under Armour Deals With It

🎧 Panic with Friends with Brian Shannon

⛷ What it’s like to ski Copenhill, the dry slope in Copenhagen, Denmark

🤝 AMC Strikes Historic Deal w/ Universal

🛹 BLK.MARK’s “Disorder” Video