🍨 Daily Scoop: Wanna fake sausage sandwhich with that?

By Hoda Mehr Fri, Jul 26, 2019

What you need to know?

Looks like investors hated beautifully aligned teeth and preferred to sleep on their smart mattresses while gobbling down a fake-meat breakfast sandwich. Seriously, we are not kidding! That sums up yesterday’s stock market. But, if that’s not enough for you, scroll down to the “What’s up?” and “What’s down?” sections for today’s serving of The Daily Scoop. 

• U.S. markets: In a total reverse of the stock market direction, all major indices lost value on Thursday, led by a 1% decline by the Nasdaq. Scroll to the Overall Market section to read more about what happened.
• Cryptocurrency: Bitcoin’s price continues to hover lower than $10,000 per coin. Analysts think that the coin has tremendous potential when investors face upheaval in the stock market. Who knows? The honest answer is that nobody knows yet.

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The scary macro!

What happened on Thursday?

The stock market was not as cheerful as we have seen it in the last few days. While a lot of companies are reporting excellent results, the overall macro and political challenges remain troublesome. You can’t read the news and not see people hunting a crash. Trade talks, the Fed’s end of July meeting, the new Prime Minister in the U.K., Oil, Iran and the Nuclear Deal, and slower global economic forecast are all big deals to worry about.

Now What?

There are so many triggers that can send the economy and the stock market spiraling down. Savvy investors know that there are way too many variables that can pull or push the stock market in all directions. Don’t get too overexcited about any stock that announces better than expected quarterly results.

These stocks were on fire. 

So what happened? 

Beyond Meat (Ticker: BYND) continues to go up. Yesterday’s price jump came after the announcement by Dunkin’ Brands (Ticker: DNKN) that the restaurant chain is going to include Beyond Meat’s sausage in its all-day breakfast menu.

Shares of the digital mattress manufacturer, Sleep Number (Ticker: SNBR, was up more than 14%. If you guessed better than expected earnings as the main reason, you are correct. The company had a few disappointing sales quarters. So, satisfying the analysts this quarter was not that too hard.

The glory wasn’t all for Dunkin’ Brands. The granddaddy of coffee, Starbucks (Ticker: SBUX) surprised investors with higher forecast for the rest of the year, and investors ordered up a 6% stock price increase on the side to their morning lattes.

Shares of Alphabet (Ticker: GOOG/GOOGL) were up by more than 6%. The investors celebrated better than expected performance and praised the Alphabet’s plan to buy back $25 billion shares.

Earnings were not all rosy. 

On Wednesday we told you that investors had no love for beautifully aligned teeth, and the lack of love didn’t turn for the better on Thursday. Shares of Align Technologies (Ticker: ALGN) continued to fall.

Amazon (Ticker: AMZN) lost some of its value for a change. After disappointing earnings, the stock dropped by more than 3%. The other side of the coin is that the decline is partially due to $800 million in enhancing the speed of delivery. What do you think faster deliveries will do for the customers and the company’s performance in the future quarters?

One of the reasons the overall stock market declined today was none but Boeing (Ticker: BA). After a few of the company’s customers, including the major airlines in the U.S. talked about the economic impact of the grounded 373 MAX, investors are coming to the conclusion that this corporate crisis is nowhere near to an end. The stock price declined another 3.7% on Thursday.

Do you have an Avocado toast savings account? 

So, what happened?

We are asking that question, because, apparently, the price of Avocado has doubled in the last year. So, very soon, your favorite artisan café must increase the price of your favorite avocado toast.

The increase in the price of Avocado is happening because of two reasons:

1. Drastically higher demand for Avocado in the U.S. Enough with avocado toast, already!

2. And, lower production of Avocado in California. Slacker Californians!

There is not much on the horizon to say that the price will go down soon. You’ve been warned. Start saving for your avocado toast.

Disclosure: Authors of this Scoop own shares of Sleep Number (Ticker: SNBR), Amazon (Ticker: AMZN), Starbuck (Ticker: SBUX), and Align Technologies (Ticker: ALGN). 

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