Today is Wednesday, July 27, 2022.
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Google Better Than Feared
Shares of Google’s parent Alphabet (Nasdaq: GOOGL) increased 4.87% in after-hours trading on Tuesday after the technology giant posted negative financial earnings.
Financials: Alphabet reported earnings of $1.21 per share and revenue of $69.7 billion; both were below estimates.
Glass Half Full: Revenue for YouTube, Google Cloud, and Google Search all increased year-over-year, but the rate of growth slowed and was slightly lower than expected.
Final Thoughts: With its stock down 27% this year, Alphabet’s financial results may have been lacking. Even though the company had slower growth, it still finds a way to deliver.
Notable Earnings Today: Meta Platforms (Nasdaq: META), Shopify (NYSE: SHOP), Boeing (NYSE: BA), Ford Motor (NYSE: F), Spotify Technology (NYSE: SPOT), Qualcomm (Nasdaq: QCOM), Waste Management (NYSE: WM), Hologic (Nasdaq: HOLX), Bristol-Myers Squibb (NYSE: BMY), Teladoc Health (NYSE: TDOC), Sherwin-Williams (NYSE: SHW), Etsy (Nasdaq: ETSY), Teck Resources (NYSE: TECK) Lam Research (Nasdaq: LRCX), Hilton Worldwide Holdings (NYSE: HLT), ServiceNow (NYSE: NOW), Humana (NYSE: HUM), Annaly Capital Management (NYSE: NLY), Kraft Heinz (Nasdaq: KHC), Quantumscape (NYSE: QS), ASGN (NYSE: ASGN), Agnico Eagle Mines (NYSE: AEM), Align Technology (Nasdaq: ALGN), Amedisys (Nasdaq: AMED), American Electric Power (Nasdaq: AEP), American Water Works (NYSE: AWK), Automatic Data Processing (Nasdaq: ADP), Avery Dennison (NYSE: AVY), Boot Barn Holdings (NYSE: BOOT), Boston Scientific (NYSE: BSX), Bunge (NYSE: BG), CH Robinson Worldwide (Nasdaq: CHRW), Cheesecake Factory (Nasdaq: CAKE), Churchill Downs (Nasdaq” CHDN), Cognizant Technology Solutions (Nasdaq: CTSH), Columbia Sportswear (Nasdaq: COLM), Community Health Systems (NYSE: CYH), Evercore (NYSE: EVR), Flex (Nasdaq: FLEX), General Dynamics (NYSE: GD), Genuine Parts (NYSE: GPC), LendingClub (NYSE: LC), M/I Homes (NYSE: MHO), Norfolk Southern (NYSE: NSC), O'Reilly Automotive (Nasdaq: ORLY), Old Dominion Freight Line (Nasdaq: ODFL), Owens Corning (NYSE: OC), Pilgrims Pride (Nasdaq: PPC), Raymond James Financial (NYSE: RJF), Ryder System (NYSE: R), STAG Industrial (NYSE: STAG), Steven Madden (Nasdaq: SHOO), T-Mobile US (Nasdaq: TMUS), United Rentals (NYSE: URI), Upwork (Nasdaq: UPWK), VICI Properties (NYSE: VICI), West Fraser Timber (NYSE: WFG).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: The Hot Dog Box (Mainvest), Boaz Bikes (StartEngine).
Notable Economic Events Today: Core Durable Goods Orders (8:30 a.m. ET), Goods Trade Balance (8:30 a.m. ET), Retail Inventories Ex Auto (8:30 a.m. ET), Pending Home Sales (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), FOMC Statement / Fed Interest Rate Decision (2:00 p.m. ET).
Microsoft’s China and PC Problems
Shares of Microsoft (Nasdaq: MSFT) increased 3.97% in after-hours trading on Tuesday after the software giant posted negative financial earnings.
Financials: Microsoft reported earnings of $2.23 per share and revenue of $51.9 billion; both were below estimates.
Final Thoughts: Despite extended production shutdowns in China throughout May and what the company called “a deteriorating PC market in June,” Microsoft sees revenue growing by double digits this year. That’s what helped the stock on Tuesday.
Equity Crowdfunding Spotlight: Rose Sisters Chips
Briefly describe your business. We manufacture a 4-generations, life-changing family recipe of seasoned, baked, flour tortillas which are a chip, cracker, and flatbread all-in-one and go great with everything! The majority of our business is through wholesale distribution channels.
What are the terms of the investment for your campaign? Through Republic, we are offering a Crowd SAFE security. 20% discount at conversion. $5 million cap. The minimum investment is $200. We are also providing a number of incentives based on investment levels.
What makes your startup special? Why will it succeed? Rose Sisters Chips launched just before the pandemic hit. Despite all of the obstacles, we continue to double in topline growth every year with no intention of slowing. We have distribution in the Midwest, Northeast, MidAtlantic, and Texas.
Trends to Watch
It Started With One Tweet: Community-initiated ‘Bitcoin Stackchain’ exceeds $160K in one week (Cointelegraph)
Bad Taco Tuesday: Chipotle price hikes drive profit growth – and the chain says more increases are coming (CNBC)
Summer Travel: Visa tops earnings expectations as travel spending hits recovery milestone (MarketWatch)
September to Remember: Twitter Schedules Shareholder Vote on Elon Musk’s $44 Billion Takeover Bid (The Wall Street Journal)
Shop ‘till You Don’t: Shopify to cut 10% of staff after making 'wrong' bet about pandemic online shopping boom (CNN)
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