⏱Earnings, and Life Sentences, and Golf. Oh my!
90 Second News Issue #2
Howdy🤠. Welcome to all of our new subscribers! Ready for the best 90 seconds of your day?
0:05- Congrats to the title-starved city of LA
The Dodgers won the world series last night, ending LA’s 16 day title drought!
0:10- The Speedy Stocks Section
The Dow and S&P both closed down on the day as the Cboe Volatility Index($VIX) hit its highest level since early September. This indicates that investors are skittish, and the market is fragile as we approach Election Day.
Winners on the Day: Microsoft ($MFST) who had a huge uptick in earnings buoyed by their cloud services (or people are just really excited about the new Xbox, we’re not sure), and 3M ($MMM) who showed a strong Q3 report largely due to the uptick in PPE (they’re set to sell 2Bn N95 masks by the end of 2020.)
Losers on the Day: Pretty much everyone else. BP ($BP) reported their fifth consecutive quarterly loss, Pfizer ($PFE) revenue was down, even amidst their Phase 3 vaccine efforts, and Caterpillar ($CAT) low earnings showed a slow in demand for construction vehicles.
0:45- This story just keeps getting worse
Keith Raniere, a sex-cult MLM leader (yes, you read that correctly) of NXIVM was sentenced to 120 years in prison yesterday after countless emotional testimonies from his victims. We’ll end this here because this story is awful, but we’re glad justice was served.
0:55- Will your phone and TV contracts be bundled again?
T-Mobile ($TMUS) announced yesterday that they were launching a new TV streaming service starting next week. It’ll offer various tiers, labeled TVision Vibe, TVision Live, and TVision Channels. At least the names aren’t confusing, right?
1:04- A Tee-rific Deal that May Be Un-fore-gettable
The WSJ reported yesterday that Callaway ($ELY) was in talks with Topgolf to purchase the remaining portion of the company (they already own 14%). Callaway has been struggling to attract younger golfers, and this looks like a 350yd drive in the middle of the fairway for them.
1:17- Things to keep an eye on today
Jack Dorsey and Mark Zuckerberg have been subpoenaed to discuss their handling of a New York Post article about Hunter Biden
The market looks to rebound as Boeing, UPS, Gilead, and Pinterest announce earnings
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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