MARKETS
- After last week’s market bloodbath, U.S. stocks found some relief on Monday. The S&P 500 bounced back 1.2%, while the Dow Jones flexed with a 484-point surge, and the Nasdaq added more than 1%. Investors are now laser-focused on this week’s inflation data, hoping for clues that might influence the Fed’s rate cut decision.
- Tech stocks, last week’s biggest losers, led Monday's rebound, with all 11 S&P sectors in the green. Wednesday’s consumer inflation report and Thursday’s producer-price numbers are the next big hurdles, as Wall Street bets on a dovish move from the Fed.
Winners & Losers
What’s up 📈
- Summit Therapeutics ($SMMT) skyrocketed 55.99% after announcing that its lung cancer drug candidate outperformed Merck’s Keytruda in phase three clinical trials.
- Palantir ($PLTR) gained 14.08% following the announcement that it would join the S&P 500, replacing American Airlines, with the change taking effect on Sept. 23.
- Nio ($NIO) rose 10.96%, continuing its positive momentum after its promising second-quarter earnings and subsequent analyst upgrades.
- MicroStrategy ($MSTR) climbed 9.20% as Michael Saylor predicted Bitcoin could reach $13 million by 2045.
- JetBlue Airways ($JBLU) surged 7.17% after Bank of America analyst Andrew Didora upgraded the firm to neutral from underperform, citing JetBlue’s “self-help initiatives” and early signs of revenue improvement.
- Arm Holdings ($ARM) increased 7.03% after the Financial Times reported that Apple would use Arm’s next-gen chip design in the iPhone 16, set to debut on Monday.
- Super Micro Computer ($SMCI) increased 6.06% after GlassHouse Research expressed long-term confidence in the stock via X.
- Moderna ($MRNA) was up 5.10% after announcing its manufacturing facility in Laval, Quebec, received a Drug Establishment License from Health Canada, allowing it to produce drug substances.
- Dell Technologies ($DELL) rose 3.81% after the news that it would join the S&P 500, replacing Etsy before the Sept. 23 market open.
- United Airlines ($UAL) gained 5.96%.Paycom Software ($PAYC) rose 5.75%.Nvidia ($NVDA) increased 3.54%.
What’s down 📉
- Humana ($HUM) dropped 3.94% after Leerink Partners analysts, led by Whit Mayo, shared an early look at unpublished cut points that affect healthcare plans' Star ratings.
- DocuSign ($DOCU) fell 5.32% despite beating fiscal second-quarter expectations, driven by strong subscription growth.
- Enphase Energy ($ENPH) declined 5.16%.Lucid Group ($LCID) slid 3.08%.
Glowtime Unveiled — Apple’s Big Event Recap
Apple’s "It’s Glowtime" event has come and gone, leaving us with some shiny (slightly same) new toys to obsess over. The iPhone 16 lineup took the spotlight, with a slew of features that scream AI-powered future. Let’s dive into the highlights.
iPhone 16 & iPhone 16 Pro Max: The iPhone 16 lineup stole the show, featuring generative AI capabilities and the new Camera Control button, which lets you snap photos, perform searches, and identify objects in real-time using Apple’s Visual Intelligence. The Pro models (6.3" and 6.9") come with bigger screens, thinner bezels, a faster A18 chip, and improved battery life. Both the Pro and Pro Max now let you shoot 4K video at 120 fps, ideal for cinematic slow-motion shots. The iPhone 16 models start at $799 and are available for pre-order starting Friday, with a September 20 launch.
AirPods 4 & AirPods Max: Apple introduced the AirPods 4 in two versions: a standard model at $129 and a higher-end version at $179 that includes active noise cancellation (ANC) and transparency mode. The charging case is smaller and supports USB-C. Plus, there’s an updated AirPods Max, now with USB-C charging and some fresh colors. Both models aim for a more comfortable fit with refined contours and better sound quality.
Apple Watch Series 10: The 10th-generation Apple Watch is the thinnest and lightest yet, with a 40% brighter display and larger screen sizes (42mm and 46mm). It also comes packed with new features, including sleep apnea detection (pending FDA approval), and it can charge up to 80% in just 30 minutes. The Series 10 starts at $399 and is available for pre-order, with a release on September 20.
Faster MagSafe Charger: Apple revealed a new, more powerful 25W MagSafe charger compatible with all iPhones and Qi2 devices. Only the iPhone 16 models, however, support the full 25W charging rate, giving Apple an edge over competitors like Samsung and Google.
iOS 18: Launching next week, iOS 18 brings exciting updates like homescreen and lockscreen customizations, a redesigned Control Center, and satellite messaging. It also introduces a new password management app and revamped Photos and Mail apps.
Apple’s “It’s Glowtime” event brought some cool updates, but it still left many consumers wanting more. While the iPhone 16 lineup added a flashy Camera Control button and a few AI tricks, the overall design and features feel like minor tweaks compared to last year’s models. Even the Apple Watch Series 10 and AirPods 4 saw incremental upgrades, with the usual improvements in size, battery life, and sound. Sure, the new tech is nice, but nothing felt truly groundbreaking—leaving Apple fans wondering when the next big leap is coming.
Market Movements
- "Beetlejuice Beetlejuice" Sequel Earns $110M in U.S. Box Office: Warner Bros. Discovery ($WBD)’s Beetlejuice sequel earned $110M in ticket sales during its opening weekend, making it the second-highest September debut after 2017’s It.
- Big Lots Files for Chapter 11 Bankruptcy: Big Lots ($BIG) has filed for Chapter 11 bankruptcy and secured $707.5M to continue operations as it prepares to sell its business to Nexus Capital.
- Boeing Reaches Deal with Factory Workers Union: Boeing ($BA) has agreed to a deal with the union representing 33,000 workers in Seattle and Oregon, offering 25% raises over four years, along with health care and retirement benefit enhancements.
- Dell and Palantir to Join S&P 500: Dell ($DELL) and Palantir ($PLTR) are set to join the S&P 500, replacing Etsy ($ETSY) and American Airlines ($AAL) in the index.
- Indian News Agency Sues Netflix Over Hijacking Drama: India’s ANI has sued Netflix ($NFLX), demanding the removal of four episodes from a hijacking drama for allegedly using archival footage without permission.
OnlyFans — The Platform That Prints Money
OnlyFans—the platform you pretend to only vaguely know about—continues its rocket-ship trajectory with stunning financial figures revealed on Friday. Turns out, the adult content giant is still raking in big bucks post-pandemic.
Here’s the rundown:
- Revenue Boom: OnlyFans saw a 20% increase in revenue for the fiscal year ending November 2023, pulling in a cool $1.3 billion. Pre-tax profits? Up 25% to $658 million, making it one of the most profitable digital platforms around.
- User Growth: The platform added 4.1 million creators and 305 million users in 2023, each figure jumping by about 30%. Those users spent a whopping $6.6 billion on content, reinforcing OnlyFans' dominance in the creator economy.
- Owner Payday: Leonid Radvinsky, the man behind the platform, pocketed $472 million in dividends last year, bringing his total take-home to over $1 billion since 2020. The company’s founder continues to cash in as the platform’s growth shows no signs of slowing down.
What’s driving all this? OnlyFans lets creators sell videos, photos, and private messages via subscriptions or one-time fees. The platform skims 20% off the top, making it a wildly lucrative model for both creators and the company. Non-subscription earnings are now the biggest revenue driver, thanks to tips and pay-per-view content.
And it's not just about adult content anymore. OnlyFans is branching out with fitness, music, and comedy, turning itself into a broader digital creator hub. With record user and creator numbers, the platform is solidifying itself as a cornerstone of the creator economy while making its owner very, very wealthy.
Oracle’s Cloud-Driven Earnings
Oracle had a big win this week, with shares surging 8.94% in after-hours trading on Monday after the company posted impressive quarterly results and announced a major new partnership. Thanks to its aggressive cloud expansion, Oracle is firmly in the game with cloud heavyweights like Amazon, Microsoft, and Google.
By the Numbers:
- Earnings per share: $1.39 (beating the expected $1.33)
- Revenue: $13.3 billion (just ahead of the $13.2 billion forecast)
- Cloud revenue: Up 21% to $5.6 billion
- Cloud infrastructure growth: 45% jump to $2.2 billion
- Remaining performance obligations (booked sales): $99 billion
Cloud Expansion Powers Growth
Oracle’s cloud business is firing on all cylinders, with its cloud infrastructure segment growing by a stunning 45% in the fiscal first quarter. Cloud services now make up the company's largest business, and demand is particularly strong for Oracle's generative AI solutions. The company has been signing up big-name customers like Elon Musk’s xAI and Reka, driving demand for AI-driven workloads.
Oracle isn’t stopping there. On Monday, it announced a major new agreement to bring its database services to Amazon Web Services (AWS), adding to previous partnerships with Microsoft and Google. Analysts view this move as a significant step in modernizing Oracle’s database business, which has traditionally been on-premise. CEO Safra Catz emphasized how these deals are helping Oracle solidify its place in the competitive cloud market.
Big Investments, Bigger Growth Ahead
Looking ahead, Safra Catz predicts even bigger growth, forecasting double-digit revenue increases for the fiscal year ending in May 2025. To support this growth, Oracle is doubling down on cloud infrastructure, with capital expenditureshitting $2.3 billion in the last quarter and plans to double that investment by next year to keep up with demand for cloud servers.
Oracle is also expanding its global footprint, with 162 data centers in operation or under construction worldwide. The company is racing to meet the growing need for cloud infrastructure, especially for AI workloads, and its investments in this space are expected to drive continued growth.
With Oracle’s stock already up 33% this year, the company’s aggressive cloud expansion and strategic partnerships position it for long-term success. Oracle is no longer just the database giant it once was—it’s becoming a key player in the cloud and AI revolution, competing with the biggest names in tech and setting itself up for sustained growth in the years ahead.
On The Horizon
Tomorrow
The NFIB Small Business Optimism Index isn’t exactly the star of the financial show, and it doesn’t usually move markets. But with the economy under the microscope and the Fed on high alert for any slowdown signals, it’s worth keeping tabs on how small businesses—aka the backbone of the economy—are holding up.
On another note, tomorrow’s second presidential debate between former President Trump and VP Kamala Harris is likely to steal the spotlight. While it’s not market-specific, you can bet investors will be tuning in, hoping to catch a glimpse of the candidates’ economic game plans.
Earnings:
Tuesday: GameStop ($GME), Dave & Buster’s ($PLAY), Petco Health & Wellness ($WOOF)
After Market Close:
- GameStop ($GME) always keeps things spicy, and with another earnings report on the horizon, expect the usual rollercoaster ride. Wall Street’s take? They say the stock’s overpriced, the business model’s outdated, and it’s best to steer clear of the chaos. But retail traders have their own ideas, and if the last few years taught us anything, it’s that fundamentals go out the window with this stock. The consensus? Expect a loss of $0.08 per share on $895.67 million in revenue.
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