Rippers Weekly Recap 1/07: Amazon Layoffs, Tesla Missing Deliveries and Much More

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How The Stock Market Performed This Past Week

Heat Map of the S&P 500

How The Largest Stocks Performed

Best Performing Large Cap Stocks

Worst Performing Large Cap Stocks

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This Week's Babbl Report

Major Headlines From This Week

Monday:

• Tesla’s head of China Tom Zhu has reportedly taken over responsibilities for sales, service and deliveries in North America - Electrek

• SpaceX is reportedly raising $750M in a new round of funding that values the company at $137B - CNBC

• AMC CEO Adam Aron just said he will not sell anymore AMC stock anytime soon - Twitter

• Nio delivered 15,815 vehicles in December 2022, up 50.8% YoY. This makes it its best month on record - Nio

• Tesla delivered 405K vehicles in Q4, missing expectations of 418K. Tesla delivered a total of 1.31M cars in 2022, up 39.9% YoY - Tesla

Tuesday:

• Microsoft is preparing to launch a version of its Bing search engine that uses the artificial intelligence behind ChatGPT - The Information

• Apple has patented a possible next-generation Apple Pencil that can sample colors from the real world and then input that same color onto an iPad, as well as other features - MacRumors

• Shopify announced a new subscription service aimed at big retailers that will allow them to select tools and services Shopify offers and integrate it with their own online platforms - Reuters

• Ford sold more than 640K F-Series trucks in 2022, down from 726K F-Series models in 2021. The F-Series was the best-selling truck in the US for the 46th straight year and the overall best-selling vehicle for the 41st year in a row - Ford

• Nvidia and Foxconn announced a partnership to develop autonomous vehicle platforms based on Nvidia Drive Orin - Nvidia

• Amazon secured an $8B loan to help hedge against uncertain macroeconomic environment - Tech Crunch

• Sam Bankman-Fried pleaded not guilty to federal charges. The judge set a start date of October 2 for the trial - CNBC

• Intel unveiled its new 13th Gen Intel Core Mobile Processor - BusinessWire

• Amazon secured a power trading license in India and will sell wind and solar power on local electricity exchanges - Mint

• Chewy plans to open more automated fulfillment centers in 2023 to control costs and raise efficiency - WSJ

• Beyond Meat has started selling its Beyond Steak product in select Costco locations across five states - SeekingAlpha

• CPI for Germany in December came in at +8.6% YoY, below expectations of +9.0% YoY - DEstatis

• Rivian delivered 8,054 EVs in Q4 below estimates of 8,713. Rivian delivered a total of 20,322 vehicles in 2022 - InsideEVs

• Shopify is trying to cut down on the number of meetings at its company by implementing some new rules - Bloomberg

  • Removing all recurring meetings with 3+ people “in perpetuity”

  • No meetings at all can be held on Wednesdays

  • Big meetings of more than 50 can only happen in a 6-hour window on Thursdays, with a limit of 1 a week

Wednesday:

• Amazon plans to fire more than 18K workers globally up from the previously announced 10K. The move is concentrated in the corporate ranks, mostly its retail and human resources divisions, like recruiting. - Bloomberg

• Salesforce announced it plans to fire about 10% of its workforce as part of a company restructuring - CNBC

• Sony said it has now sold more than 30M PS5 consoles - IGN

• The US government is seizing Sam Bankman-Fried's shares of Robinhood - Bloomberg

• Officials agreed rate cuts should not happen in 2023 - FOMC Minutes 

• The EU fined Meta €390M for privacy violations and banned the company from forcing users in the EU to agree to personalized ads based on their online activity - AP

• Tesla filed a new trademark to make electric motors for airplanes, boats and more - Electrek

• General Motors sold 2.27M vehicles in the US during 2022, up 2.5% YoY. This makes it the largest carmaker in the US in 2022 - CNBC

• Sony and Honda’s announced its new joint EV car brand “Afeela” - The Verge

• 13.7M vehicles were sold in the US during 2022, down 8% YoY and the lowest total since 2011 - WSJ

• Johnson & Johnson's consumer health division Kenvue filed to raise up to $100M through an IPO - SEC

• Dell is looking to phase out “Made In China” chips by 2024 - Nikkei

• Vimeo is laying off 11% of its global workforce - SEC

• The Barstool Sportsbook has officially been approved to take bets in Massachusetts and could launch in March - ButlerBets

• General Electric officially spun out GE Healthcare $GEHC. It’s now trading as its own stock - GE

• Coinbase will pay a $50M fine for letting customers open accounts with few background checks and will also spend $50M to improve compliance - CNBC

• Roku announced the launch of its first ever roku-made TVs, which will be made in the US - Roku

• Microsoft is in advanced talks to invest more than $10M into autonomous trucking startup Gatik - Auto News

Thursday:

• Tesla China announced price cuts. The Model 3 will now start at 229,900 Yuan ($33.4K), down from 265,900 Yuan ($38.7K). The Model Y will now start at 259,900 Yuan ($37.8K), down from 288,900 Yuan ($42.1K) - Bloomberg

• Delta will launch free WiFi for all members of its SkyMiles frequent flier program, starting February 1 - Tech Crunch

• Bed Bath & Beyond has begun preparations for a potential chapter 11 bankruptcy filing within weeks - Bloomberg

• Disney’s "Avatar 2" officially passed "Top Gun: Maverick" as the biggest film of 2022 - Variety

• Costco announced December sales of $23.80B, up 7% YoY - Costco

• Tesla China shipped 55,796 vehicles from its Shanghai factory in December - CNEVPost

• OpenAI is in talks for tender offer at $28B valuation - WSJ

• Ford sold a total of 61,575 electric vehicles in the US during 2022, up 126.2% YoY - Ford

• Foxconn said its primary Apple iPhone manufacturing plant "gradually returned to normal" in December - SeekingAlpha

• Stellantis is launching a new business unit dedicated to selling all the data generated by its millions of connected vehicles - Tech Crunch

• E-commerce sales during the holidays rose by 3.5% YoY to a record $212B - Adobe

• Deere unveiled a new sensor and robotics-based system for applying fertilizer, and a new electric excavator- Tech Crunch

• WhatsApp launched a new proxy support feature to bypass internet shutdowns - WhatsApp

• Mercedes-Benz is creating a global branded high-power charging network, starting in North America with the goal of having 10K chargers by 2030 - Tech Crunch

• Disney ended 2022 with box office sales of $2B in North America, $2.9B overseas and $4.9B worldwide. This makes it the number one studio at the domestic, international and global box office in 2022 for the seventh consecutive year - Deadline

• Citadel’s hedge fund operations brought in about $28B of revenue in 2022, up from $16.2B in 2021 - Reuters

• Samsung expects its profits for Q4 2022 to fall by 69% to the lowest level in eight years - Yahoo Finance

• Shortages of ADHD medications in the US, that started this summer with Adderall, have widened to now include methylphenidate drugs - a class that includes Ritalin and Concerta - Bloomberg

• Walmart completed more than 6,000 deliveries using drones in 2022 - SMN

Friday:

• McDonald's said it's planning to make “difficult” decisions about changes to its corporate staffing levels by April - WSJ

• Wells Fargo reportedly fired its VP of Operations in India Shankar Mishra after he allegedly urinated on a 72-year-old woman on a recent Air India flight - NYP

• Illinois legal cannabis sales reached a record high of more than $1.5B in 2022 up 12% YoY - Marijuana Moment

• The US unemployment rate during December came in at 3.5%, below expectations of 3.7% - BLS

• Ant Group said Jack Ma has relinquished control of the company - CNN

• Google CEO Sundar Pichai just received 1.33M shares of $GOOG stock at an average cost of $0 per share (657.9K of those shares were withheld for taxes) - SEC

• New Yorkers bet $16.2B on sports in 2022 - Action Network

• China is in talks with Pfizer to produce and distribute a generic version of its COVID-19 antiviral drug, Paxlovid, in China - Reuters

• WWE founder Vince McMahon announced he’s returning to WWE’s board of directors - Variety

• The Microsoft executive in charge of its mixed-reality goggle program for the US military is leaving the company - Insider 

• The New York City public school system has banned its students from accessing OpenAI's ChatGPT - Bloomberg

• Stellantis gave a first look at the Ram 1500 Revolution electric pickup truck concept at CES - Engadget

• Wisconsin’s governor plans to ban TikTok from state government-owned devices - Reuters

• After 15 rounds of voting Republican Kevin McCarthy has been elected as the next House Speaker replacing Nancy Pelosi - CNBC

• 807.2K fully electric vehicles were sold in the US during 2022, representing 5.8% of all vehicles sold up from 3.2% of all vehicles sold in 2021 - WSJ

  • US market share by brand

    • 1: Tesla - 65%

    • 2: Ford - 7.6%

    • 3: Hyundai/Kia - 7.1%

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