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Victoria
@victoria
-> From the Headlines ➖Intel ($INTC) is planning to launch an IPO for its self-driving car business, Mobileye. Intel previously acquired the Israel-based company in 2017 for $15.3 billion. The company is expected to trade at a valuation of around $50 billion and under the symbol MBLY. ➖Tesla ($TSLASee more
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-> From the Headlines ➖August’s consumer spending rose by 0.1% from the previous month of July. Spending has seen an uptick driven by vehicle sales, which was attributed to lower gas prices and a stronger labor market. ➖Nike ($NKE) shares are dropping sharply after reporting a one-year 22% decline in net income, which came in at $1.5 billion. The earnings decline was due to supply chain issues iSee more
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-> From the Headlines ➖Tesla ($TSLA) is adding AirBnB co-founder Joe Gebbia to its board of directors. This comes after Oracle co-founder Larry Ellison did not stand for re-election to the board. ➖Peloton ($PTONSee more
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-> From the Headlines ➖The U.K. pound and 10-year government bond yields prices slid after the U.K. announced tax cuts that investors expect will increase spending in an inflationary environment. The U.K. announced plans to repurchase bonds in order to stabilize the downfall. ➖Apple ($AAPL) is holding off on plans to boost production of its new iPhones this year due to weaker-than-expected demanSee more
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-> From the Headlines ➖Terra Luna ($LUNA) founder Do Kwon insisted that he is not on the run from authorities. Earlier this week, international policing agency, Interpol, released a red notice on the founder after it was discovered he was not at his residence in Singapore. The founder stated on Twitter that he was making no effort to hide. ➖FTX won the bankruptcy auction for Voyager Digital AssetSee more
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-> From the Headlines ➖The Federal Trade Commission announced Jeff Bezos must testify in their antitrust investigation against Amazon’s ($AMZN) Prime membership program. The investigation is focused on Amazon’s apparent deception of users into signing up for Prime, with no easy way to cancel. ➖Netflix ($NFLXSee more
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-> From the Headlines ➖Tesla ($TSLA) is recalling 1.1 million vehicles due to concerns that a closing window could pinch a passenger before it retracts. The company said it would perform a software update to fix the problem. The recall affects certain Model 3’s from 2017-2022, Model Y vehicles from 2020-2021, and Model S and X vehicles from 2021-2022. ➖Amazon’s ($AMZNSee more
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-> From the Headlines ➖Twitch announced that it will ban users from streaming unlicensed gambling content from sites such as Stake.com, Rollbit.com, and Roobet.com. The Amazon ($AMZN) owned streaming platform will continue to allow fantasy football, sports betting, and poker to be streamed on the platform, but other table related games will not be allowed. ➖Target ($TGTSee more
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-> From the Headlines ➖Aurora Cannabis ($ACB) slightly beat earnings and revenue estimates, with management citing strength in international markets. The company’s medical business grew 4% compared to a year ago, driven by 35% growth in overseas markets. Aurora’s consumer cannabis business grew 22%, mostly due to its recent acquisition of Thrive. ➖The Federal Trade Commission is conducting an anSee more
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-> From the Headlines ➖Ford ($F) warned it it would be hit by an additional $1 billion in supply chain and inflation costs. There are 40,000-45,000 vehicles impacted by parts shortages, and those units are expected to be finished and delivered in Q4. ➖Uber ($UBERSee more
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-> From the Headlines ➖Volkswagen set its price range for the Porsche IPO, valuing the brand at $78 billion. The company expects to acquire $19.5 billion in cash to transition the company to an electric vehicle maker. The company will keep $10 billion from the sale, but will provide the other half in the form of dividends to investors. Porsche will begin trading on September 29th. ➖Shares of TakSee more
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-> From the Headlines ➖FedEx ($FDX) shares are down after the company delivered a sales warning and announced cost-cutting measures including a hiring freeze and store closings in the wake of slowing demand. The FedEx CEO said he sees the economy entering into a worldwide recession. ➖Uber ($UBERSee more
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-> From the Headlines ➖Disney ($DIS) CEO Bob Chapek hinted at an all-in-one streaming app during a Goldman Sachs investor conference. Currently, Disney owns ESPN and a large stake in Hulu. If all brands are put under one umbrella within one app, consumer friction from multiple app usage would decrease, according to Chapek. ➖Netflix ($NFLXSee more
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-> From the Headlines ➖The August PPI “Producer Price Index'' fell 0.1%. The August index drop was attributable to a 1.2% drop in prices for final-demand goods. The price drops were driven by a 6% drop in energy prices. Not including food and energy, the index rose 0.2%. ➖Amazon ($AMZN) announced plans to raise pay and benefits for delivery drivers. The company will invest $450 million to fund wSee more
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-> From the Headlines ➖Stocks are falling sharply after inflation came in hotter than expected for the month of August. Headline inflation jumped 0.1% compared to July, while core inflation, which excludes energy and food prices, rose 0.6%. Economists surveyed by Dow Jones expected CPI to fall 0.1% month over month, and core CPI to drop 0.3%. ➖John Foley, Peloton’s ($PTON) co-founder and previouSee more
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-> From the Headlines ➖Amazon ($AMZN) has acquired Belgian-based company Cloostermans. The company designs and makes warehouse technology and will allow for robots and Amazon workers to operate alongside each other to minimize waste and accidents within warehouses. ➖Trevor Milton, founder of EV company Nikola ($NKLASee more
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-> From Today's Headlines (Sept. 8) ➖ Federal Reserve Chairman Jerome Powell reiterated his interest rate hike stance during his speech this morning. The Chairman explained that the U.S. must continue the fight on inflation until the job is done, which entails the Federal Reserve’s commitment to return inflation back to 2%. ➖The European Central Bank raised interest rates by 75 basis points afteSee more
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-> From the Headlines ➖Bed Bath & Beyond ($BBBY) announced Laura Crossen as the company’s new interim CFO. Crossen has been at the company for more than 20 years and previously served as the Chief Accounting Officer for the company. ➖Chinese EV manufacturer NIO ($NIO) provided lower delivery guidance than expected. Nio expects to deliver 32,000 vehicles next quarter, while estimates previously stooSee more
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-> From the Headlines ➖Heads up: The Nasdaq and NYSE exchanges will be closed on Monday, Sept. 5 for Labor Day. Crypto trading remains open. ➖Stocks are rising after the unemployment rate for August came in at 3.7%. The previous month of July saw unemployment at 3.5%. ➖Lululemon (See more
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-> From the Headlines ➖Nvidia ($NVDA) warned it could experience a $400 million sales hit from new U.S. licensing requirements to ship advanced chips to China. The new rule comes as regulators fear advanced chips will get into the hands of the Chinese military. The new requirement could impair Nvidia’s $5.9 billion revenue outlook for the quarter. ➖Disney ($DISSee more
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