Syz the moment

• Monday: $MNDY. • Tuesday: $HD, $NU, $SE. • Wednesday: $CSCO, $JD, $STNE, $TCEHY. • Thursday: $BILL, $WMT. Source: Earnings Whisper, App Economy Insight

"I understand there is a lot of curiosity on these numbers. What I can tell you is that we will always sell one car less than the market demand." Source: Quartr

The Omaha-based giant’s operating earnings — which encompass profits made from the myriad of businesses owned by the company, like insurance, railroads and utilities — totaled $10.043 billion last quarter, 6.6% higher than the figure from the same quarter a year ago. Net income totaled $35.91 billion, compared with a $43.62 billion loss during the second quarter last year. The strong results were bolstered by a jump in Berkshire’s insurance underwriting and investment income. Berkshire reported a near $26 billion unrealized gain from its investments as its gigantic stake in #Apple led the market rally in the second quarter. The tech giant soared nearly 18% during the quarter and Berkshire’s bet has ballooned to $177.6 billion. The “Oracle of Omaha” trimmed his Chevron stake by $1.4 billion to $19.4 billion at the end of June. Berkshire’s massive cash pile grew to $147.377 billion at the end of June, near a record and much higher than the $130.616 billion in the first quarter. Share repurchase activity slowed down as the conglomerate’s stock climbed back to a record high. The company spent just about $1.4 billion in buybacks during the quarter, bringing the year-to-date total to $5.8 billion. Link to CNBC article: $BRK Berkshire Hathaway Q2 FY23: • Segment margin 12% (-1pp Y/Y). • $AAPL Apple stake now worth $178B. • Stock repurchase $1.4B ($4.4B in Q1). • Cash and short-term securities $147B. Source: App Economic Insights, CNBC

$PLTR $DIS $BABA $RIVN $AMC $UPST $SMCI $UPS $LCID $LLY $TWLO $PLUG $MARA $TTD $NVO $DDOG $RBLX $NVTA $CELH $SOUN $IONQ $TSN $GOLD $SWKS $WYNN $LAZR $MGNI $APPS $CHGG $ARRY $SONY $DNA $BRK.B $MPW $TOST $PARA $LYFT $BROS $LI $SWAV $FIVN $CYBR $CPA $CGC $VTRS $PENN $RNG $NVEI $CLOV $OKE Source: Earnings Whispers

Over the week, the 2s10s curve steepened by 19 bps, a 2.3 standard deviation move. As a consequence, the sectors that slid the most were those that are most exposed to bond yields, ie the long-duration stocks (Communications & Tech despite earnings beats by Apple and Amazon but also Utilities). Energy gained as Saudi Arabia said it would extend production cuts to prop up prices. Source: Bloomberg, J-C Gand.

The stock rose more than 10% in extended trading. AMZN Amazon Q2 FY23: • Revenue +11% Y/Y to $134.3B ($3B beat). • Operating margin 6% (+3pp Y/Y). • FCF $7.9B TTM. • EPS $0.65. AWS: • Revenue +12% Y/Y to $22.1B. • Operating margin 24% (-4pp Y/Y). Q3 FY23 Guidance: • Revenue ~$140B ($2B beat). Source: App Economy Insights, CNBC

Apple reported fiscal third-quarter results that beat Wall Street expectations for both earnings and sales, driven by stronger services sales that grew 8% on an annual basis. Overall sales still fell 1% year over year, however, and revenue in the company’s iPhone, Mac, and iPad lines were all down from a year earlier. Apple shares fell more than 2% in extended trading. $AAPL Apple Q3 FY23: • Revenue -1% Y/Y to $81.8B (in-line). 💳 Services +8% Y/Y to $21.2B. 📱 Products -4% Y/Y to $60.6B. • Operating margin 28% (flat Y/Y). • EPS $1.26 ($0.07 beat). • Over 1B paid subscriptions. Source: App Economy Insights, CNBC

Tuesday: $UBER, $AMD, $PINS Wednesday: $PYPL, $SHOP, $U Thursday: $AMZN, $AAPL, $COIN, $SQ, $ABNB, $NET Friday: $FUBO, $NKLA Source: Earnings Whisperers