Fisker’s Fresh Lows

Electric vehicle startup Fisker had another rough day after pushing its third-quarter earnings release to Monday, Nov. 13. ๐Ÿ—“๏ธ

The company said, “The timing of the appointment of a new chief accounting officer effective Nov. 6, 2023, and the departure of the former chief accounting officer effective Oct. 27, 2023, has delayed the completion of the financial statements and related disclosures.” The unexpected delay caused more anxiety among already concerned investors, sending shares down 8%. ๐Ÿ˜ฌ

Coincidentally, the stock also fell 8% when it reported second-quarter results in August.

Back then, investors’ concerns about the company’s ability to sustainably produce its vehicles at scale weighed on the stock. Especially since it cut its full-year production guidance again. Collectively, those concerns offset a positive gross profit margin of 7.5% (or 18.5% excluding discounted early-stage investor deliveries) and a narrower-than-expected loss. ๐Ÿ“Š

The market anxiously awaits an update on its recent production and deliveries, wanting to see a significant ramp-up in both numbers. For now, $FSR shares are sitting at all-time lows as the broader electric vehicle industry challenges continue to grow. ๐Ÿ˜จ

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Palantir Pops On Earnings

Software company Palantir Technologies is back on investors’ radars after its earnings results. ๐Ÿ’ช

The company reported adjusted earnings per share of $0.08, which matched expectationsโ€”meanwhile, revenues of $608.40 million topped expectations of $602.40 million by about 1%.ย 

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Traders Sell Big-Tech Earnings

The “Magnificent Seven” stocks and other tech sector leaders have rallied significantly over the last three months. But with earnings season upon us, some are not living up to expectations.

Investors are selling Microsoft, Alphabet, and AMD shares after their reports, so let’s recap. ๐Ÿ‘‡

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Who Says Consultants Are Lame?

Consultants have a reputation for not being the most helpful members of society despite charging a lot for their advice. But, regardless of how lame they might be at parties, the firms that employ them are making boatloads of cash.

Management consulting firm Booz Allen Hamilton reminded us all today after reporting results that sent it soaring to fresh all-time highs. ๐Ÿค‘

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Walmart Bets Big On Advertising

One of the core themes we’ve been discussing for a long time is the “ad-ification” of everything. No matter where you go or what you do, you’re likely being targeted by some form of advertising. And the reason why is because it’s such a high-margin, profitable business opportunity. ๐ŸŽฏ

As a result, it’s no surprise to see America’s largest employer and big-box retailer, Walmart, leaning heavily into that narrative during its earnings call.ย 

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