Goin’ All In

Tale of the Tape

Good evening y’all. Stocks closed higher again today. 

The S&P 500 gained .64%, the fourth consecutive rally this week, five in a row going back to last Friday. Hope we didn’t just jinx it for tomorrow 😬

Tech was back in the driver’s seat with the Nasdaq up 1% and Energy was back in the doghouse down .71%.

Here’s a few stock moves of note in case you missed the tape.

Penn Gaming ripped 14% to close at an all-time high 🚀 (See more below) Fiserv rallied 4.5% after reporting last night. 

Apple gained another 3.5% and closed at another all-timer. It is the largest momentum stock in the history of the universe.

Adobe popped 3%, back to within .5% of the all time closing high. Facebook was up 6% on word the company renewed its long term deal with the devil 😉 (See more below)

Western Digital fell 16% on disappointing earnings.

If we can be frank for a sec, it’s going to be tough for us to pen the rest of this evening’s Rip. Why, you ask? 

Well, for one thing, there’s a gotdamn Major Golf Tourney on TV! Live. For Real ⛳️

We got one eye on the leaderboard and one eye on Datadog stinking the joint on earnings after hours. Down $15 or some such nonsense. 

Here’s your closing prices:

S&P 5003,349+0.64%
Russell 20001,544-0.10%
Dow Jones27,386+0.68%

Earnings Round-Up

Uber reported earnings after the close and for the first time ever its food delivery business outperformed rides. Food delivery grew 113% YoY. Wowza. 😲 

And the numbers:

EPS: ($1.02) vs ($0.86) est
Revenue: $2.24B vs $2.18B est.

$UBER was down 2% after-hours.

Yeti reported better than expected earnings before today’s market open. Here’s the money quote.

The increase was primarily due to a demand surge for outdoor recreation and leisure lifestyle products as the COVID-19 pandemic has significantly impacted consumers’ views towards how they spend their time experiencing nature and exploring the outdoors, as well as more consumers shopping online while sheltering-in-place.

Here are the numbers:

EPS: $0.41 vs $0.15 est.
Revenue: $246.9M vs $191M est.

$YETI closed down 1.61% but it’s still up 46% YTD. 

Plug Power’s earnings came in better than expected and traders were loving it.

Here are los numeros:

EPS: ($0.03) vs ($0.09) est.
Revenue: $68.1M vs $63M est.

$PLUG gapped up 8.5% and continued higher, closing up 15%. 

The stock is up 180% YTD, quite a run. Are we gonna see this name keep plugging along? Place your bets… 

Sonos reported earnings last night and the numbers did not impress traders. Today, $SONO dropped 18.34%, closing at its lowest level since July 14th.

🎲 Get Lucky 

Penn National Gaming reported better than expected earnings this morning. Revenue was down for the quarter, but management’s positive comments on future demand may have excited traders.

Here are the numbers:

EPS: ($1.69) vs ($2.06) est.
Revenue: $305.5M vs $211.2M est.

And the daily chart. All time highs, baby!!! 

$PENN wasn’t the only hot gaming stock today.

These casino stocks were blazing today!

$DKNG +3.38%
$WYNN +7.42%
$MGM +10.41%
$LVS +4.34%

Facebook Dayyum 

Maybe Instagram Reels is the real deal, who knows. 🤷‍♂️

What we do know is that Facebook broke tf out today. 

Here’s the beautiful daily. $FB just took out the highs from its earnings last week. Nice.

Rocket IPO 🚀

Quicken Loans parent, Rocket Companies, began trading on the NYSE today. $RKT priced at $18/share and finished the day at $21.51. Nice debut.

Here’s the intraday chart. 

Microsoft Saved Apple 23 Years Ago Today

On August 6, 1997, Microsoft made a $150M investment in a struggling and near-bankrupt Apple. If Mr. Softie had held the full investment, it would probably be worth a gabillion dollars today.

Here’s the money passage from a great post Apple Insider wrote about it a couple years back. < Definitely worth a click.

In 1997, Steve Jobs was back on top at Apple, but the company was in major financial trouble. It was a moment that required a bold move.

The talks between the companies for Microsoft to invest in Apple had actually begun before Gil Amelio’s ouster, as Gates and Jobs discussed in their famous D5 conference interview in May of 2007. Jobs called Gates following Amelio’s departure and told him “don’t worry about that negotiation with Gil Amelio. You can just talk to me now.”

“Well, a lot of people’s heads were in that place at Apple and even in the customer base because, you know, Apple had invented a lot of this stuff and Microsoft was being successful and Apple wasn’t and there was jealousy and this and that,” Jobs said in the D5 interview. “There was just a lot of reasons for it that don’t matter but the net result of it was, was there were too many people at Apple and in the Apple ecosystem playing the game of, for Apple to win, Microsoft has to lose. And it was clear that you didn’t have to play that game because Apple wasn’t going to beat Microsoft. Apple didn’t have to beat Microsoft. Apple had to remember who Apple was because they’d forgotten who Apple was.”

A Little Too Quiet??

Tesla has been oddly quiet. Since mid-June the stock has been chilling in a 300 point range from 1400 to 1700. Is a move imminent? Place your bets… 

Flying Cars???

The great state of New Hampshire just legalized flying cars. The technical term in the bill states that “roadable aircraft” is legal. It’s about damn time. We were promised flying cars in Jetsons. Let’s get to it.

Here’s a great photo. Can’t wait to see these bad boys on the street. 

Read more about the flying cars here.

Earnings Tomorrow

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

Links That Don’t Suck

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🏀 NBA Stars Lining Up to Become Backers of New Blockchain Project

🎵 Juice WRLD, Pop Smoke and Mac Miller: Rap Stars Who Died Young Are Among the Biggest Albums of the Year

🏞 Are National Parks Really America’s Best Idea?

Tom Wallisch Rips Iron, Concrete, and Deep Powder In 2020 Season Edit

🎮 Nintendo’s Pandemic Bonanza: a Billion-Dollar Profit