Tale of the Tape

Good evening, everyone.

Stocks closed near the lows for the 4th consecutive day. Still no stimulus. Should we be worried? Time will tell.  

Here’s the daily chart of the $SPY:

Communications and consumer staples were the only green sectors. You guessed it, energy lagged.

Solar sucked. Maybe the sun will come out tomorrow.
$TAN – 8%. 

The Dollar dropped. Emerging markets are starting to emerge. 

PayPal popped as the company will allow transactions via cryptocurrency. Bitcoin bopped as another public company validates the concept. $BTC.X ticked its highest price since July 2019. Bring on the bitcoin bros…

Tesla reported earnings after the close. See the numbers below.

Here are the closing prints:

S&P 500	3,435	-0.22%
Nasdaq	11,484	-0.28%
Russell 2000	1,603	-0.86%
Dow Jones	28,210	-0.35%

Earnings Round-Up

Tesla reported profits for the fifth straight quarter. The company beat earnings and revenue estimates while setting a new delivery record.

Here are the results:

EPS: $0.76 vs $0.57 est.
Revenue: $8.77B vs $8.36B est.

$TSLA was up 3% after hours.

Verizon beat Q3 estimates this morning thanks to internet services and phone demand. The company added 283k postpaid phone subscribers in the quarter.

Here are the numbers:

EPS: $1.25 vs $1.22 est.
Revenue: $31.54B -4.1% YoY

Here is what CEO Hans Vestberg had to say:

We continue to demonstrate our strength and resilience by delivering very strong third quarter financial results. We are energized by the transformational technology that our 5G Ultra Wideband and 5G nationwide bring. Our purpose-driven culture paired with our network leadership will shape the future, for the better.

$VZ fell 1%.

Chipotle Mexican Grill reported earnings that beat on the top and bottom line. Sales rose 14% and digital sales more than tripled this quarter.

Here are the results:

EPS: $3.76 vs $3.47 est.
Revenue: $1.6B vs $1.59B est.

CEO Brian Niccol said this:

I have never been more confident that Chipotle is a powerful brand committed to fostering a culture that values and champions our diversity, while leveraging the individual talents of all team members. As a result of a strong brand, committed employees, and broad financial strength, we remain excited about Chipotle’s powerful economic model and our long-term potential.

$CMG was down 3% after-hours.

Oh, $SNAP

Social stocks soared following Snap’s Q3 numbers. These stocks gapped up on above-average volume. It seems like social is here to stay.

$SNAP sizzled to all-time highs. The stock traded more shares today than any other day in history. 

$PINS pinned an all-time high. 

$TWTR topped $50 for the first time in 5 years. 

$FB flipped 4%. 

GMC Goes Green🔋 

GMC unveiled its electric Hummer truck last night. 

The EV will have 1,000 hp and 11,500 lb-ft of torque to eliminate emissions on and off-road.

The truck will also have an infinity roof, 18-camera views, and CrabWalk, GM’s diagonal driving capability for tough off-roading. 

Sounds pretty sweet but, nothing in life is free. The Hummer EV Edition 1 will cost a cool $112,595. 

Reservations are “sold out”.

Purdue Will Pay

Purdue Pharma pled guilty to charges related to its marketing and distribution of the powerful painkiller, OxyContin.

The company agreed to an $8.34B settlement. $225M will be paid to the federal government. 

Here’s the WSJ with more.

🌌 Stocktwits After Hours

Tonight on After Hours:

PayPal Validates Crypto
Tesla & Chipotle Earnings Review

Listen: Spotify | Apple Podcast | Google

Earnings This Week

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

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