Microsoft $MSFT hitting all-time highs in extended hours trading after blowing out EPS and Revenue expectations
• Revenue +18% Y/Y to $62.0B ($0.9B beat). • Gross margin 68% (+2pp Y/Y) • Operating margin 44% (+5pp Y/Y). • EPS $2.93 ($0.16 beat). Source: App Economy Insights
⚠️ Alphabet $GOOGL is down between -3% and -5% in extended hours trading after beating EPS and Revenue expectations
SUMMARY OF ALPHABET $GOOGL EARNINGS: 1. Revenue +13% Y/Y to $86.3B ($1.0B beat). 2. EPS $1.64 ($0.04 beat). 3. The search giant underperformed in its core ad search segment. -> Google’s advertising revenue totalled $65.52 billion, below expectations for sales of $65.80 billion. 4. Operating income also came in below expectations at $23.7 billion, compared to $23.82 billion. 5. On the bright side, Google cloud revenue topped estimates as the company spends heavily to compete with Microsoft’s Azure and Amazon’s AWS. ☁️ Google Cloud: • Revenue +26% Y/Y to $9.2B. • Operating margin 9% (+12pp Y/Y). 6. ▶️ YouTube ads +16% to $9.2B.
Discipline vs. Talent
Source: Yasin Arafeh
Market Breadth looking bullish!
Almost 84% of S&P 500 $SPX Stocks are now trading above their 100D moving average. Source: Barchart
US Bankruptcy filings keep moving higher
This sounds like a logical consequence of 2 years of aggressive FED tightening but still something to keep an eye on Source: Win Smart, CFA
B of A: “.. At the current monthly rundown pace, excess savings should continue to support consumer spending at least through the rest of 2024."
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Liquidity as a key market's driver in one chart -> The stock market's rise mirrors the money supply's growth. Both have risen over 4,500% since 1967
Source: Win Smart, CFA, Game of Trades
Royal Caribbean’s "Icon of the Seas" has set sail on its maiden voyage. It’s five times the size of the Titanic.
Source: Jon Erlichman
