Hey Gotraders,
Today marks an important milestone for Gotrade… *drum roll please*…
We now have over ONE THOUSAND stocks and ETFs on Gotrade! Woot woot! 🥳 Pretty amazing, don’t cha think? Considering we launched the app with just 100 stocks! Here’s a shoutout to the incredible team at Gotrade that made this a reality. You guys rock! Super proud to be part of the team!
Ok, back to financial news. Big Tech earnings are behind us now, but we still have some notable names reporting earnings this week - Paypal (PYPL), Roblox (RBLX), AMC (AMC), Virgin Galactic (SPCE), Coinbase (COIN), NIO (NIO), Palantir (PLTR), Disney (DIS), SoFi (SOFI), Bumble (BMBL), Beyond Meat (BYND), Coupang (CPNG), Coach (TPR), Manchester United (MANU), and many more… Refer to our earnings calendar below 👇
In today’s news, we talk about Warren Buffett’s Berkshire Hathaway (BRK.B). They just reported earnings, and as expected, they performed massively well! The company reported an operating income of $6.47 billion in the third quarter. This is an 18% growth from the $5.48 billion reported last year. They also reported a massive amount of surplus cash. To be specific - $149.2 BILLION. Cha-ching! 💰
This is the amount of excess cash they are left with after buying back $7.6 billion of their own stock in the third quarter. This brings the nine-month total of share buybacks to a whopping $20.2 billion. Wowza!
Why is this important? Besides owning businesses in the railroad, utilities and energy sectors, Warren Buffett is known as an investment guru. He is the ultimate value investor.
His equity portfolio was pretty much tied up in these 4 stocks as of the end of the third quarter…
Apple (AAPL) - $128.4 billion
Bank of America (BAC) - $43.9 billion
American Express (AMEX) - $25.4 billion
Coca-Cola (KO) - $21 billion
You’re welcome! 😉
📉 Tesla shares are down after Elon Musk’s tweet 🤦
Mr Musk is at it again. He polled his 62.5 million followers on Twitter (TWTR) and asked them if he should sell 10% of his Tesla (TSLA) stock.
“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?” - Elon Musk’s tweet. He gave them a yes/no option and promised to abide by the majority vote.
Why does he want to sell off some of his Tesla stock? It’s not because he wants to dump his shares. It’s because he has a looming tax bill of over $15 billion to pay.
“Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock” - Elon Musk.
So far, over 57.9% voted yes, and 42.1% voted no. Let’s give the guy a break. He needs to pay his tax bill somehow, so I vote yes! ✅
Shares of Tesla closed at $1,222.09 but are down over 5% in extended trading. Ouch!
📈 Facebook wants to open some retail stores 🛍️
Facebook (FB)… Oops, I mean, Meta, is looking to open some retail stores. They want to be able to showcase their virtual reality gear including its Oculus Quest virtual reality headsets, which will be rebranded Meta Quest for customers to try on before buying. They also plan to sell their Facebook Portal video chat devices, which will be rebranded Meta Portal, at these stores.
It looks like everything in the store will be named Meta-something-or-the-other. They need some real-world presence to showcase their virtual-world capabilities!
Their flagship store will be in Burlingame, California. The location makes sense as this is where they have an office for Reality Labs. Cool!
Shares of Facebook closed at $341.35, up 1.64% on Friday.
Top movers & shakers 🎢
What else is making headline news 📰
Why Qualcomm’s (QCOM) supply issues are ‘in the rear view’ during a global chip shortage.
UK minister tells Meta (FB) ‘rebranding doesn’t work,’ vows to fast-track criminal sanctions for Big Tech execs.
Travel stocks rally, stay-at-home companies plunge as pandemic wanes and tourism rebounds.
Video: Jim Cramer’s game plan for the trading week of Nov. 8.
Pfizer (PFE) board member Gottlieb says the Covid pandemic could be over in the U.S. by January.
Walmart (WMT) is using fully driverless trucks to ramp up its online grocery business.
Stocks could soar to new heights in week ahead — even though inflation data may come in hot.
Popular companies releasing earnings this week 💰.
Monday: Paypal (PYPL), Roblox (RBLX), TheTradeDesk (TTD), Plug Power (PLUG), AMC (AMC), Tencent Music (TME), Five9 (FIVN), Zynga (ZNGA), Squarespace (SQSP), Virgin Galactic (SPCE), TripAdvisor (TRIP), Lemonade (LMND), Cassava Science (SAVA), ThredUp (TDUP), Aterian (ATER), and many more..
Tuesday: Coinbase (COIN), NIO (NIO), DoorDash (DASH), BioNTech (BNTX), Palantir (PLTR), Toast (TOST), Upstart (UPST), Wynn Resorts (WYNN), Figs (FIGS), AbCellera (ABCL), FuboTV (FUBO), McAfee (MCFE), Krispy Kreme (DNUT), Aurora Cannabis (ACB), and many more..
Wednesday: Disney (DIS), Affirm (AFRM), SoFi (SOFI), Opendoor (OPEN), Bumble (BMBL), Beyond Meat (BYND), Fiverr (FVRR), Duolingo (DUOL), TaskUs (TASK), Wendy's (WEN), Wish (WISH), Payoneer (PAYO), The Honest Co (HNST), Tattooed Chef (TTCF), and many more..
Thursday: Coupang (CPNG), ArcelorMittal (MT), Coach (TPR), Wix.com (WIX), Weibo (WB), Manchester United (MANU), Nano Dimension (NNDM), and many more..
Friday: AstraZeneca (AZN), Li Auto (LI), Vipshop (VIPS), F45 Training (FXLV), and many more..
A company’s market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a company’s stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
That’s all from us for now.
Signing out,
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The legal stuff 🤓
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