Jeff’s Best Week
By Fri, Feb 14, 2020
Hey Scoopers,
The stock market had a rather normal day with some sectors moving up and others moving down, and there wasn’t any major macro news to sway the market in either direction — more on that in the “Overall Market” section.
Beyond the overall market, a double-digit profit forecast sent one stock to the moon, and investors started asking who eats ketchup — more on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, we believe Jeff Bezos just had the best week of his life — more on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
Market Recap
- U.S. markets: All three indices finished Thursday in the red. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: We don’t have to tell you this. For one more day, the above $10,000 mark was the new norm for Bitcoin’s price.
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It was a normal day of ups and downs in the stock market.
After a few days of upward movement, the stock market finished in the red, with the Dow losing the most with approximately 0.5% loss. There wasn’t too much macro news beyond the regular updates about the status of coronavirus and the ongoing quarterly earnings reports. The Industrial sector lost the most with approximately 0.6% daily drop, and the Utilities sector gained the most with more than 1% upward movement.
Double-Digit Profit Forecast
So, what happened?
Shares of Expedia (Ticker: EXPE) were up more than 10% on Thursday. The company has been struggling for a while to compete with Google. The main value Expedia creates for its users is the aggregation of travel booking options. And, who does information aggregation better than anyone else? Of course, Google does.
Despite the Google effect, in the latest quarterly earnings report, Expedia announced a double-digit profit growth forecast in 2020, investors loved the news, and sent the stock to the sky.
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Who Eats Ketchup?
So, what happened?
Shares of The Kraft Heinz (Ticker: KHC) were down more than 7% On Thursday. The company announced lower than expected sales with a 5% decline in revenue. Moreover, it wrote off the value of one of its most prized brands, Maxwell Coffee. The CEO called the quarter disappointing and investors seem to be giving up hope. The question that The Kraft Heinz needs to answer is in the age of artisan food and health-conscious consumers who eats Ketchup?
A Very Good Week For Jeff…
So what happened?
I bet you none of us has had a better week than Jeff… Who’s Jeff, you ask?
Jeff Bezos, CEO of Amazon (Ticker: AMZN). Why?
First, he bought the most expensive property in the Los Angeles market. Then, the news broke that his company has won a legal battle against Microsoft (Ticker: MSFT) to potentially gain a portion of a $10 billion cloud storage contract with Pentagon.
Now you see why no one has had a better week than Jeff? Can you top that?
About the Author
The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card
