NVDA DOMINATES – Earnings And Revenue Crush

WORD ON THE STREET 

• GOP Debate Lacks Trump, But Still Focuses On Him – A crowded field of Republican contenders debated without frontrunner Donald Trump. Six of the eight candidates said they would support Donald Trump if he won the nomination again, with Chris Christie and Asa Hutchinson refusing. Candidates mostly took shots at Vivek Ramaswany, who has brushed aside Florida Governor Ron DeSantis in many polls.

• Trump Talks With Tucker As He Blows Off Debate – Frontrunner Donald Trump, whose standing in the GOP primary has only improved the more he gets indicted, sat for an interview with former Fox News host Tucker Carlson instead of attending the first GOP debate. “Whatever you think of Trump, he is, as of tonight, the indisputable, far-and-away frontrunner in the Republican race,” Carlson said. “We think voters have an interest in hearing what he thinks.” Interestingly, it was reportedly Trump who approached Carlson about doing the interview – leaked comments from a lawsuit against Fox News showed Carlson had politically gone against Trump months ago.

• Nike Falls For 10 Straight Days – Nike (NKE) fell for the 10th straight day, a record, after the slow Chinese economy and the strugglers of retailer Foot Locker dragged the stock down. The company posted a bigger than expected increase in sales in the region the last time it reported earnings. The unexpected consequences – investors may have their expectations set too high for future sales in China.

• Ford F-150 Trucks Blasting Ear Piercing Static From Speakers – I’m pretty sure at least one alien invasion movie begins this way. Some models of Ford’s F-150 are blasting shrieking static, and dozens of owners have complained to regulators. Best of all – the sounds occur completely randomly, so drivers are getting a deafening blast of random noise while they are trying to concentrate on the road. One compared it to a golf ball being smashed through the window. Ford is working on fixing the issue, which reportedly centers on a defect in the power amplifier of the sound system.

HOT SPOTS: What’s Going on in Geopolitics

• Japanese Nuke Reactor Begins Dumping (Treated) Water Into The Ocean – Treated radioactive wastewater from the Fukushima nuclear power plant is being dumped into the ocean. Japan says the action is needed to free up space at the plant and will be testing the water to make sure it meets international safety standards. However, China called it an “extremely selfish and irresponsible act that ignores the international public interest.”
  

• Ukraine Strikes Key Missile Base In Occupied Crimea – Ukraine’s slow-motion counteroffensive got a boost with a successful attack against the Cape Tarkhankut missile base in western Crimea. Ukrainian intelligence claims it destroyed the key S-400 surface-to-air missile battery. A potential blockade of Crimea now becomes feasible if Ukraine and sever the land connection to Russia. Despite recent gains, Ukraine has been suffering casualties and has been struggling to recapture much territory.

• India Lands Spacecraft On The Moon – India’s Chandrayaan-3 spacecraft landed safely near the Moon’s south pole, making it the first vehicle to accomplish the feat. “This moment is unforgettable,” said Prime Minister Narendra Modi. “This is phenomenal. This is the victory cry of a new India.”

CUTTING EDGE: What‘s Happening In Tech

• Apple Backs “Right To Repair” – Apple backed California’s SB 244, a piece of “right to repair” legislation that allows consumers to repair consumer electronics and appliances, with a few exceptions to protect safety and privacy. Apple is now the only major manufacturer that has backed this kind of legislation, which has been introduced in about 14 states so far.

• Sam Bankman-Fried Struggling On Prison Diet – The infamous SBF of defunct crypto firm FTX is “subsisting on bread and water” and is having trouble preparing for his trial. Sam Bankman-Fried’s lawyer also complained that he’s not getting Adderall in prison and is running low on depression medication. The judge said she would ask the Justice Department to address the medical issues. Hard time just isn’t what it used to be, at least not for accused white collar criminals.

• “Stop! Stop! He’s Already Dead!”- Peloton was the next big thing in fitness during the COVID-19 lockdown – but PTON has seen far, far better days. A recall in May had costs that “substantially exceeded our initial expectations,” according to the company. Losses also surpassed expectations, though they significantly declined compared to last year. The stock was down 22.6% yesterday.

The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our Terms and Conditions for more information