JUST HAVE TO ACCEPT IT AND I
APPRECIATE YOUR INPUT THIS
MORNING.
SHAH GILANI THANK YOU SO MUCH.
THE DOW UP 54 POINTS, THE S&P UP
SLIGHTLY, SAME STORY ON THE
NASDAQ BUT THE MAJOR INDUSTRIES
ARE DOWN THREE OR 4% FOR THE
MONTH OF AUGUST, THIS IS THE
LAST DAY OF TRADING FOR AUGUST,
GOOD RIDDANCE.
LET’S TAKE A LOOK AT AS THEY
CLAP AND HOOT AND HOLLER, THERE
IS A YOUNG LADY USING HER ELBOW
TO PUSH THE BUTTON AT THE
NASDAQ, GREAT STEP, WE ARE UP
AND RUNNING, AND LET’S TAKE A
LOOK AT THE BIG BOARD THE DOW 30
STOCKS, A LOT MORE GREEN THEN
RED BUT IT’S ALL VERY MODEST THE
DOW UP 18 POINTS, CISCO,
HONEYWELL OUT OF THE CHUTE AND
CHEVRON IN PARTICULAR.
LET’S TAKE A LOOK AT THE S&P 500
IF WE CAN, A SLIGHT GAIN THERE,
WE WILL HAVE TO WAIT AND SEE UP A THIRD OF 8% FOR THE S&P UP
A THIRD OF 8% FOR THE S&P UP
ABOUT 4054, .5 FOR THE NASDAQ UP
THREE QUARTERS OF 8% OF 93 - 94
POINTS TALKING AT THE NASDAQ
LET’S TAKE A LOOK AT THAT. THE GROWTH STOCKS DESPITE THE
THE GROWTH STOCKS DESPITE THE
TENURE MOVING HIGHER, WE ARE
GETTING SOME TRACTION FOR THE
BIG TECH STOCKS, APPLE UP HALF
8% WITH 159, AMAZON, ALPHABET,
MICROSOFT UP, LOOK AT META
PLATFORMS, FACEBOOK UP 5.5%.
LET’S TAKE A LOOK AT THE BROADER
MARKET IF WE CAN, GOOD MORNING
TO YOU SUSAN.
WE’VE BEEN DOWN FOR THE LAST
THREE SESSIONS, CAN WE BUCK THE
TREND TODAY, THAT IS THE
QUESTION WHAT DOES A CRYSTAL
BALL SAY.
>> AT THE END OF THE MONTH THERE
MIGHT BE SHORT COVERING AS YOU
BUY BACK THE SHARES IN YOUR BETTING AGAINST TO CLOSE UP THE
BETTING AGAINST TO CLOSE UP THE
BOOKS FOR THE MONTH OF AUGUST.
HOWEVER, THE S&P 500 IS SITTING
A LOWEST IN THE MONTH AND YOU
HAD A FEDERAL RESERVE PRESIDENT
TALKING ABOUT MUCH HIGHER RATES
TO COME SO CLEVELAND FED
PRESIDENT CALLING FOR 4%
INTEREST RATES, AT LEAST BY NEXT
YEAR.
NO CUTS THROUGH 2023.
IF YOU DO THE MATH 4% MEANS AT
LEAST 75 BASIS POINTS MONTH, A
LOT MORE TO COME FROM THE
CURRENT TWO AND A HALF PLUS
LEVELS THAT WERE AT, THEN YOU
COUPLE THAT WITH THE NEW YORK
FED PRESIDENT WILLIAMS YESTERDAY
WHO’S BEEN CALLING FOR THREE AND
HALF% RATES.
AS YOU HEARD FROM JAY POWELL IN
THE FED, THEY EXPECT MORE
PAINTED, IN ORDER TO BRING DOWN
THE 40 YEAR HIGH INFLATION LET’S TAKE A LOOK AT BED BATH AND
TAKE A LOOK AT BED BATH AND
BEYOND, I UNDERSTAND
ASHLEY: I WANT TO LOOK AT SNAP
THE COMPANY GOING TO LAY OFF 20%
OF THEIR EMPLOYEES, WHAT IS THE
ISSUE.
>> THEY CONFIRMED IN THE LAST
FEW HOURS IT COMES DOWN TO
TIKTOK, COMPETITION, SLOWING,
ADVERTISING, GROWTH IN THE APPLE
PRIVACY SETTINGS, THAT IS
IMPACTING ALL SOCIAL MEDIA
COMPANIES INCLUDING SNAP, SNAP
SAYS THEY ARE RESTRUCTURING THEY
JUST ANNOUNCED THIS AND THEY
CONFIRMED THE EARNINGS REPORT
EARLIER THAT A THOUSAND JOBS ARE
BEING CUT FROM THE 6500 THAT
THEY EMPLOYED AND THOSE LAYOFFS
ARE STARTING TODAY AND MOSTLY GOING FROM HARDWARE IN
GOING FROM HARDWARE IN
DEVELOPING THAT WILL BE
AFFECTED, IT’S A TOUGH YEAR FOR
SNAP MIST ON SPRING SALES AND
PROFIT, THE LOWEST WEEKLY
MONTHLY PROFIT GROWTH AND SALES
GROWTH THAT THEY’VE SEEN AS A
PUBLIC COMPANY AND PULLING THE
CURRENT QUARTER GUIDANCE, THE
STOCK DROPPED ABOUT 25% IN THE
SESSION AFTERWARDS AND IT’S NOT
THE FACT THAT YOU’RE UP 7% AND
THE RESTRUCTURING SAVING
EXERCISE.
THE STOCK IS DOWN 90% OVER THE
PAST YEAR.
ASHLEY: 90%, SPEAKING OF SNAP,
NETFLIX HIRING TWO OF THEIR
EXECUTIVES. ASHLEY: THAT’S THE LAUNCH OF
ASHLEY: THAT’S THE LAUNCH OF
THEIR FRONTIER, AND EXPECTED
EXTRA 2023 THEY MAY JUMP SHIP
FROM THESE EXECUTIVES BECAUSE
THEY KNEW THE LAYOFFS WERE
COMING, THE FORMER CHIEF
BUSINESS OFFICERS, SALES VP ARE
MOVING ON IT GIVES NETFLIX
MADISON AVENUE, RESPECTIVE AD
EXECUTIVES, ATHLETES IS DOING
SOMETHING TO READ HASTINGS THAT
HE SAYS HE REALLY DIDN’T WANT TO
DO WHICH IS OFFERING ADS IN THE
SERVICE BUT SLOWING GROWTH, A
DROP OF SUBSCRIBERS, NETFLIX,
ALSO DISNEY ARE INTRODUCING,
DISNEY WITH THEIR AD IN EARLY
DECEMBER IN ITS REALIZATION
AMONGST ALL OF THESE BIG STREAMING COMPANIES.
STREAMING COMPANIES.
THE STREAMING WORLD HAS CHANGED.
MY QUESTION WILL THAT CHANGE THE
BINGE MODEL THE NETFLIX PIONEERS
SINCE ADS ARE MAXED OUT WHEN YOU
HAVE AN EPISODE DROP PER WEEK,
YOU HAVE THE WATERCOOLER EFFECT
IN ANTICIPATION OF THE NEXT
EPISODE.
ASHLEY: I LOVE THE BINGE I DON’T
HAVE TO WAIT A WEEK, I’M
SPOILED.
WE HAD SOME EARNINGS BEFORE THE
BELL.
>> HOW MANY HOURS WAS THAT I WAS
THINKING OF THE BID ON STRANGER
THINGS, HAS TO BE SO MANY HOURS.
>> A BILLION SOMETHING.
HP, THE COMPUTER PEOPLE
REPORTING BEFORE THE BELL.
>> THEY HAD AN IN-LINE SPRING
SALES AND PROFIT AND THEY WERE
UP IN THE PREMARKET, BECAUSE
THEY TALKED ABOUT ENDURING
DEMAND FOR BUSINESS SPENDING AND
IT SPENDING IN PARTICULAR, HB Q WHICH IS A CONSUMER SIDE
WHICH IS A CONSUMER SIDE
HEWLETT-PACKARD’S PUT UP INTO TO
COMPANIES, I WANT TO TALK ABOUT
THE OWNER OF CALVIN KLEIN AND
TOMMY HILFIGER, PBH THEY ARE
CUTTING JOBS, 10% OF JOBS BY THE
END OF 2023 ALSO CUTTING THE
FULL-YEAR GUIDANCE IN TALKING
ABOUT A CHALLENGING ECONOMIC
ENVIRONMENT AND ARE HOPING TO
SAVE $100 MILLION EACH YEAR
THROUGH THE JOB CUTS. YOU SEE THIS RUNNING THEME AS WE
YOU SEE THIS RUNNING THEME AS WE
HEADED TO THE JOBS THE PAYROLL
NUMBER ON FRIDAY, A LOT OF THESE
COMPANIES ARE PULLING BACK AND
SLOWING ECONOMIC GROWTH
ENVIRONMENT.
ASHLEY: A SIGN OF THINGS TO
COME, WHAT ABOUT CHEWY THE PET
PEOPLE, DOWN BIG I UNDERSTAND
TODAY.
THIS IS RYAN COHEN, BED BATH AND
BEYOND THIS IS HIS ORIGINAL
COMPANY, PET PRODUCTS RETAILER
MADE MONEY INSTEAD OF LOSING
MONEY IN THE SPRING QUARTERS,
THIS HAS MORE TO DO WITH THEIR
GUIDANCE GOING FORWARD AND THEY
ARE PREDICTING THAT SALES ARE
LAGGING, PRICES ARE UP AND
CONSUMERS ARE FOCUSING ON FOOD
AND MEDICATIONS, AS YOU KNOW IF
CONSUMERS HAVE LESS TO SPEND AND
INFLATION IS HIGH THEY TEND TO