All-inclusive list of major tech layoffs

... and a final look at earnings SZN

Author

Swaggy Stocks
November 17, 2022

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Today's Letter

  • Updated list of major tech layoffs

  • Earnings SZN

  • Most talked about stocks by retail traders

I want to start today's edition with a poll, which I will then share the results with you in the next edition.

The market has been very volatile, but the QQQ and SPY are roughly flat over the last 6 months (-6% and -3% respectively). Do you think with interest rates nearing the Fed target, are we near the bottom?

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Layoffs - Which major corps are doing the most damage?

Company layoffs have been making headlines lately, so I dug through the internet and made a list of major corps that are doing the biggest damage. The data is worrisome as this usually leads to layoffs throughout small, mid-cap, and private companies.

We've seen a slow in growth over the last 1-2 quarters so it's not surprising major corps are beginning to trim the fat where they can. Are these layoffs precautionary given the macro environment or will this ripple globally from the top down?

Before getting into this week's earnings SZN details and the most mentioned stocks by retail traders, a brief message from today's sponsor, Chartr!

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Earnings SZN - The Big Movers

Last week

  • Affirm (AFRM): Mixed results and stock dropped 20% post earnings, only to boom +50% since then.

  • Roblox (RBLX): Double miss and down 20% on earnings, but has since made a small recovery in the last 5 trading days (down 66% YTD).

  • AMC: Beat on earnings and is up 60% in the last 5 trading days.

  • Disney (DIS): Miss on EPS and revenue and stock plummeted 15% on earnings. However, has since recovered nearly 10% of the losses since last week.

  • LYFT: Earnings were in-line with expectations and the stock dropped 20%, but has made nearly a full recovery since.

  • Trip Advisor (TRIP): Big miss and -20% on earnings drop, but has recovered about half the losses (-10% for the week).

  • Take-Two Interactive (TTWO): Double miss on earnings, but the stock has since recovered with a -5% return in the last 7 days.

  • Activision Blizzard (ATVI): Big beat for Q3, stock is up 4%.

This Week

Monday

  • Monday.com (MNDY): Huge beat, +50% in trading this week.

  • Oatly (OTLY): Miss and stock slides -15% on earnings (down 75% YTD).

  • D-Local (DLO): Beat on EPS and REV and stock went up 15%, but has since dropped 50% with a short-report "hit piece" this week.

Tuesday

  • Walmart (WMT): Big beat and raised outlook, stock is up 6%.

  • Home Depot (HD): Beat and stock is up 10%.

Wednesday

  • Target (TGT): Mixed results on earnings, big miss on EPS. Stock tanked 15%.

  • Nvidia (NVDA): Miss on EPS, beat on revenues. Stock is down 5% in recent trading, but up 2% for the week.

  • Global-E (GLBE): Beat on revenues, miss on EPS. Stock is down 15% in trading.

Thursday

  • BABA: Mixed results this morning before the bell, stock was up 7% in today's action.

Friday

  • JD.com (JD): Reports Before Market Open

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Most Talked About Stocks By Retail Traders

What's being talked about by retail traders? Let's dig in.

  • Amazon (AMZN): Amazon stock is up after announcing they will be laying off 10,000 workers. The company should see slight margin expansion moving forward.

  • Gold (GLD): Inflation hedge? Bitcoin hedge? Armageddon?

  • Meta Platforms (META): Retail investors looking for a bottom to buy the dip as this mega-cap is down 75% YTD.

  • Nvidia (NVDA): Warren Buffet purchases large stake in Taiwan Semi-Conductors (TSM) and has the chip industry surge on this news. Retail traders looking to jump into NVDA as it is one of the favorites along with AMD.

  • Apple (AAPL): Hiring freeze, softening demand, and sourcing chips from Arizona are causing this stock to make headlines.

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