Tale of the Tape

Howdy folks. Stocks closed nicely higher today with the S&Ps and the Naz gaining more than 1%. Small Caps led with the Russell 2K topping 2%.

Kodak was the big stock story of the day catapaulting 300% on news it could borrow $765M to begin making drug ingredients or some such nonsense. Don’t even ask WTF because it’s 2020 y’all. See more below.

Tech, Small Caps, Energy and Financials were all strong on the same day. Hallelujah!

Airlines were the biggest losers, down almost 2% in a buff tape and 52% lower YTD.

AMD rallied 12%, making another new all-time high. It’s now up 46% for July and 65% YTD. Docusign up another 6%. Paypal up another 5%. Penn Gaming up 12.7%.

Qualcomm reported earnings after the close and announced a long-term patent agreement with Huawei. The stock is up 13%  and could be breaking out of a 20-year base. Keep an eye out tomorrow.

The Gap is up 8% and making a 4 month high. We’re not even joking. 

We had a full plate of earnings today. See below for deets.

Here’s your closing prices on the major equity indices:

S&P 500	3,258	+1.24%
Nasdaq	10,542	+1.35%
Russell 2000	1,500	+2.10%
Dow Jones	26,539	+0.77%

Earnings Round-Up

Shopify reported this morning before the opening bell and blew earnings and revenue out of the water. The stock opened up 12% but gave some back. It closed up 7% and is now up 164% YTD.

Get this, $SHOP’s revenue was up 90%. Wtf lol that’s insane.

EPS: $1.05 vs $0.00 est.
Revenue: $714M +97% YoY

Here’s IBD with more. 

Boeing reported worse than expected earnings this morning and the company announced production cuts and layoffs. The stock dropped 2.8% and closed at its lowest level since June 2. If this $160 level breaks will planes be grounded? Place your bets… 

Spotify reported this AM, offered weak forward-looking guidance, and the stock dropped 1.84%. Coulda been worse.

Here are the numbers:

EPS: ($2.10) vs ($0.49) est.
Revenue: $2.08B +11% YoY

Wingstop reported spicy earnings before today’s open. The stock jumped 17% on tremendous volume and closed at all-time highs baby. Finger lickin’ good. 

EPS: $0.39 vs $0.30 est.
Revenue: $66M +36% YoY

It’s National Chicken Wings Day, which arguably should be made a national holiday, and we hit you with the money recipe below.

PayPal reported better than expected numbers. The company saw total payment volume increase 29% due to the coronavirus lockdown. $PYPL was up 3% AH, trading at all-time highs. We’ll see where it opens. Here are the numbers:

EPS: $1.07 vs $0.86 est.
Revenue: $5.3B +22% YoY

Big Tech Takes to Washington

The big tech antitrust hearing kicked off today. Jeff Bezos was accused of exploiting and discarding small-merchants if you can believe that. Lol

Who knows what will come of this hearing, time seems to move slower in D.C.

Here’s Jeff’s statement, it’s worth a read.

First Crypto, Now Pharma?

After locking in a $765 million government loan, the former camera and crypto (💀🤣) company, Kodak, is up 1,167% this week. With the loan, $KODK plans to start a pharmaceutical division making essential drug components. 

Who would’ve guessed a company could shape-shift into so many other things. 🤷🏼‍♂️

We’d love to know what you think. Is Kodak Pharmaceuticals for real? Place your bets… 

Thank God Basketball Is Back

The NBA returns to live action tomorrow. No more scrimmages and warm-ups, these games actually matter. 

The Utah Jazz and New Orleans Pelicans will lead the action tipping off tomorrow at 6:30 ET. You can catch the game on TNT. Thank God basketball is back. 

Here are some key dates for the rest of the season.

🚨 New World Record 🚨

We have a new world record for the Women’s Beer Mile.

Allison Grace Morgan fresh outta Bend, OR set the new record with a startling time 6:16.5. Incredible.

Hats off to you, Allison. 👏

If you don’t know what a beer mile is, here’s the breakdown. 

Run ¼ mile – chug 1 beer
Run ¼ mile – chug 1 beer
Run ¼ mile – chug 1 beer
Run ¼ mile – chug 1 beer 

Celebrating National Win Day

Given Wingstop’s big beat and rally and it being National Chicken Wings Day and all, here’s how you make the killer wings.

First, Google “Best Wings Near Me.” Second, call this joint and order up some damn wings (Order more than you think and don’t forget extra sauce). Third, get some damn beer.

Fourth, eat those little buddies!

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 29, 2020

🛹 Tony Hawk Breaks Down Skateboarding’s Legendary Spots

🦈 The Most Fascinating Shark Discoveries of the Past Decade

🏠 Inside Supermodel Kendall Jenner’s L.A. Home

⚾️ Dodgers-Astros Breakdown – Inside the Wild, Benches-Clearing Sixth Inning

💰 Fed Holds Rates Steady

⛽️ How an Oil Boom and Bust Can Transform a Town