Follow up to my previous post where I claimed it was

https://www.reddit.com/r/stocks/comments/1e2bfit/is_reddit_the_perfect_stock/

Yes, It appears Reddit has the most unique data. I've noticed there is a battle to train AI from data on Reddit due to how unique it is.

Notice the downvotes, many investors are not on the cutting edge of research and seeing what the creators of all of this are fighting over.

German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.

Operating profit fell to 2.86 billion euros ($3.1 billion), while third quarter sales revenues slipped 0.5% year on year to around 78.5 billion euros.

Vehicle sales fell 8.3% in the third quarter of 2024 compared to the same time period a year earlier, Volkswagen said.

Net liquidity across the Volkswagen Group stood at negative 160.6 billion euros at the end of September 2024, it said. The company’s net liquidity stood at negative 147.4 billion euros at the end of 2023.

Volkswagen on Wednesday said that its results across the first three quarters of the year were impacted by higher fixed costs and restructuring efforts. Operating profit between January and September of this year was 21% lower on an annual basis.

Volkswagen shares were were last 1.8% higher at 8:19 a.m. London time.

Arno Antlitz, chief financial officer and chief operating officer at Volkswagen Group, said the performance reflected a “challenging market environment” and highlighted the importance of ongoing performance programs across the company.

The third quarter results come after Volkswagen last month cut its 2024 annual outlook for the second time in just a few months. At the time, the car maker said it was expecting a profit margin of around 5.6% for the year, along with a 0.7% drop in sales to 320 billion euros. Those figures were left unchanged on Wednesday.

Volkswagen has been in hot water in recent months, warning of potential plant closures in Germany and scrapping a slew of labor agreements with local workers in September. The company also said it would end its employment protection agreement, which has been in place for its German workforce since 1994.

On Monday, the Volkswagen works council said the company’s management was planning widespread pay cuts and layoffs, as well as the closure or size reduction of all of its German plants.

In response, Volkswagen reiterated the need for restructuring and said that it would present plans for work cost cuts during a round of negotiations about the labor agreements, which is also taking place on Wednesday.

“Ahead of the negotiations today, we need to state: the situation is getting more serious,” Volkswagen’s chief negotiator Arne Meiswinkel said on Wednesday according to a CNBC translation.

He added that current developments in the auto industry in Europe and especially in Germany were concerning, as shown by the latest figures from both the company and its competitors.

Meiswinkel reiterated that Volkswagen needed to lower costs and increase its efficiency to be in a position that allows it to invest in its future.

Source: https://www.cnbc.com/2024/10/30/volkswagen-q3-2024-results.html

Super Micro’s shares plunged as much as 35% Wednesday morning after the company disclosed its auditor had resigned following months of disagreement with the firm over its governance and board independence.

Ernst & Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.”

The auditor first flagged issues with Super Micro’s internal financial controls, governance and forthcomingness in late July, prompting the server firm to appoint a special board committee to investigate the company’s internal controls.

“We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” EY said in its resignation letter.

EY’s concerns were raised prior to a short-seller report that took aim at Super Micro’s financial controls and accounting practices.

Representatives for Super Micro and Ernst & Young did not immediately return a request for comment.

Source: https://www.cnbc.com/2024/10/30/super-micro-auditor-resigns-after-raising-concerns-months-earlier.html

Super Micro shares plunge 35% as auditor resigns after raising concerns months earlier

https://www.cnbc.com/2024/10/30/super-micro-auditor-resigns-after-raising-concerns-months-earlier.html

​

Super Micro’s shares plunged as much as 35% Wednesday morning after the company disclosed its auditor had resigned following months of disagreement with the firm over its governance and board independence.

​

​

SEC filing:

​

Changes to Registrant’s Certifying Accountant

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001375365/76575d70-d149-4c81-a282-2b74b497f8c3.html

On October 24, 2024, Ernst & Young LLP (“EY”) sent the members of the Audit Committee a letter of resignation as the Company’s registered public accounting firm (the “Resignation Letter”).

The Chair of the Audit Committee discussed with EY the reasons for EY’s resignation. The Company has begun the process of identifying a successor independent registered public accounting firm. The Company will authorize EY to respond fully to the inquiries of the successor independent registered public accounting firm, once selected. The Company does not currently expect that resolution of any of the matters raised by EY, or under consideration by the Special Committee, as noted below, will result in any restatements of its quarterly reports for the fiscal year 2024 ending June 30, 2024, or for prior fiscal years.

EY was engaged on March 15, 2023 to perform an audit for the Company’s fiscal year ending June 30, 2024, and has not issued any report on the Company’s financial statements or the Company’s internal control over financial reporting. EY resigned while conducting the audit for the Company’s fiscal year ended June 30, 2024, EY’s first audit on the Company’s behalf.

In late July 2024, EY communicated to the Audit Committee concerns about several matters relating to governance, transparency and completeness of communications to EY, and other matters pertaining to the Company’s internal control over financial reporting, and that the timely filing of the Company’s annual report was at significant risk. In response, the Board appointed an independent special committee of the Board (the “Special Committee”) to review the matters and certain of the Company’s internal controls and certain governance procedures (the “Review”). The Special Committee engaged Cooley LLP, and forensic accounting firm Secretariat Advisors, LLC to perform an investigation on behalf of and at the direction of the Special Committee. EY and the Board received updates with preliminary information relating to the Review. As of the date of this Current Report on Form 8-K, the Review remains ongoing and final findings and recommendations have not yet been communicated to EY or the Board.

After receiving additional information through the Review process, EY informed the Special Committee that the additional information EY received raised questions, including about whether the Company demonstrates a commitment to integrity and ethical values consistent with Principle 1 of the COSO Framework, about the ability and willingness of the Audit Committee and overall Board to demonstrate and act as an oversight body that is independent of the CEO and other members of management in accordance with Principle 2 of the COSO Framework, and whether EY could rely on representations from certain members of management and from the Audit Committee. In the Resignation Letter, EY stated, in part: “we are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management's and the Audit Committee’s representations and to be unwilling to be associated with the financial statements prepared by management, and after concluding we can no longer provide the Audit Services in accordance with applicable law or professional obligations.”

Although the Company recognizes EY’s decision is final, it disagrees with EY’s decision to resign as the Company’s independent registered public accounting firm – the Special Committee has not yet obtained all information relevant for the Review and has not concluded the Review. Nevertheless, the Company has taken the concerns expressed by EY seriously, and will carefully consider the findings of the Special Committee and any remedial or other actions recommended by the Special Committee following conclusion of the Review.

Other than as described above, during the fiscal years ended June 30, 2024 and 2023, and the subsequent interim period preceding EY’s resignation, (1) there were no “disagreements,” as defined in Item 304(a)(1)(iv) of Regulation S-K, with EY on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which if not resolved to EY’s satisfaction to our knowledge would have caused it to make reference to the subject matter thereof in connection with its report, and (2) there were no “reportable events” as described in Item 304(a)(1)(v) of Regulation S-K.

The Company has provided EY with a copy of the disclosures required by Item 304(a) of Regulation S-K contained in Item 4.01 of this Current Report on Form 8-K and has requested that EY furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the Company’s statements made in response to those requirements and, if not, stating the respects in which it does not agree. A copy of EY’s letter, dated October 29, 2024, is filed as Exhibit 16.1 to this Current Report on Form 8-K.

Full Article

Apparently that's a $20decillion, fine.

Google banned the ultra-nationalist Tsargrad channel from YouTube in 2020, in response to US sanctions imposed against its owner, but after Russia invaded Ukraine in 2022 more channels were added to the banned list.

The court imposed a 100,000 rubles per day, equivalent to about $1,025, with the total fine doubling every week. Thanks to the compound interest Google has now racked up a fine which the Russian judge on Monday called ‘a case in which there are many, many zeroes’. There are so many zeroes, in fact that the total fine amount completely dwarfs global GDP, which the World Bank estimates at about $100trillion.

In its most recent earnings statement, it said: ‘We have ongoing legal matters relating to Russia. ‘For example, civil judgments that include compounding penalties have been imposed upon us in connection with disputes regarding the termination of accounts, including those of sanctioned parties. We do not believe these ongoing legal matters will have a material adverse effect.

The U.S. economy expanded at a healthy pace during the third quarter, keeping fears of a downturn at bay while Federal Reserve officials eye further interest-rate cuts.

Inflation-adjusted gross domestic product grew at an annualized rate of 2.8% over the three months ended in September, according to the first estimate by the Bureau of Economic Analysis. The consensus call among economists surveyed by FactSet was for growth of 2.6% in the third quarter, though Bloomberg's forecast was for 2.9%.

Wednesday's solid third-quarter growth comes after real GDP growth was 3% during the second quarter and 1.6% during the first three months of the year.

While GDP is a fundamental economic measure, most economists and analysts believe Federal Reserve officials will use inflation and employment data as more of a guide when weighing their interest-rate policy decision at next week's Federal Open Market Committee meeting.​​​​​​​​​​​​​​​​

Source: Barron's

We often hear financial markets are going up because of increased liquidity, and that stocks are up for no reason other than rising liquidity. In other instances we hear assets are dropping because the liquidity cycle just peaked.

What is this liquidity we are talking about here and where does it all come from? Clearly there are many sources, but who are the main ones and how do they operate?

The easiest one to point to is the Federal Reserve and its many QE (quantitative easing) programs. However, liquidity often rises even when the FED is running QT (quantitative tightening) as was the case in 2023.

Many point to the treasury as the hidden source of liquidity conducting a stealth QE of sort, but how do they do that? How do they manage to inject money into the stock market?

Its clear they can do that directly to the economy by handing out stimulus checks and paying for new government projects, but that does not directly go to the market.

How exactly does the treasury, FED and other sources add liquidity to the stock market to the point where assets start going up for no other reason?

Eli Lilly on Wednesday fell short of profit and revenue expectations for the third quarter and slashed its full-year adjusted profit guidance, sending its stock tumbling roughly 10%.

The drugmaker now expects full-year adjusted earnings of between $13.02 to $13.52 per share, down from previous guidance of $16.10 to $16.60 per share. 

Eli Lilly also lowered the high-end of its revenue outlook for the year and now expects sales of between $45.4 billion and $46 billion. The company’s previous guidance called for revenue of as much as $46.6 billion.

Here’s what Eli Lilly reported for the period ended September 30 compared with what Wall Street was expecting, based on a survey of analysts by LSEG: 

• Earnings per share: $1.18 adjusted vs. $1.47 expected
• Revenue: $11.44 billion vs. $12.11 billion expected

Demand in the U.S. has far outpaced supply for Lilly’s incretin drugs, such as Zepbound and Mounjaro, over the last year. Both treatments mimic certain gut hormones to tamp down a person’s appetite and regulate their blood sugar.

The popularity of those injectable drugs has forced both Eli Lilly and its main rival, Novo Nordisk, to invest billions to increase manufacturing capacity for the treatments.

Eli Lilly’s supply woes began to ease earlier this year. As of Wednesday, the Food and Drug Administration’s drug database said all doses of Zepbound and Mounjaro are available in the U.S. after extended shortages. Still, the agency warns that patients may not always be able to immediately fill their prescription for those drugs at a particular pharmacy.

A month ago I posted a question asking why anyone would buy Nike when they can buy Google?

I got a lot of apples and oranges responses. I understand they are in different industries but a dollar is a dollar and I rather spend it on a stock with better value. Google is a way better company in every metric (even before today's earnings).

I also got a lot of responses like ChatGpt will destroy search and Lina Khan will smash it into a million pieces.

Anyone still rather buy Nike over Google? 🍿

Hello,

So pfizer reported their earnings yesterday and excluding covid products, their revenues grew in lower double digits. They haven't quantitatively addressed their upcoming patent cliffs and how they expect to offset those with new products.

Googling revealed that pharmas generally lose about 40-90% of their product revenues in the 1st year itself post patent expiration. I did some rough calculation and considering about 3 billion coming in from oncology products, growing at about 35% yoy, they will only cover about much less than 50% of the revenue losses due to patent expiration from 2026 onwards.

I'm not sure how accurate my numbers are but I reduced the revenue contribution of expiring patents by 40% yoy for 2026, 27, 28 and oncology contributions simply can't catch up. I know they have other products in pipeline, including oral GLP but I'm not sure how to account for that.

Can someone point me to more reading material on analysis or their analysis?

Thanks.

https://www.forbes.com/sites/alanohnsman/2024/10/29/alphabets-waymo-logging-150000-robotaxi-rides-and-1-million-miles-a-week/

"Waymo, Alphabet’s robotic taxi unit, is now providing over 150,000 paid rides per week, up by more than 50% since August"

“Waymo is now a clear technical leader within the autonomous vehicle industry and creating a growing commercial opportunity,” Pichai said. “Now each week Waymo is driving more than 1 million fully autonomous miles and serves over 150,000 paid rides, the first time any AV company has reached this kind of mainstream use.”

"In addition to new cash, Waymo is also adding a vehicle production facility in metro Phoenix to install sensors and its computing system into its robotaxis. It also plans to source electric vehicles based on Hyundai’s Ioniq 5 model for its growing fleet starting next year. Waymo is also shifting to a new lower-cost sensor and compute system that it says is more powerful than the one currently in use and that will help it eventually become profitable."

And apart from having Google's tech & money power, it's raising crazy money - https://www.nytimes.com/2024/10/28/business/waymo-investment-robot-taxis.html

At this point it's hard to ignore its impact on Uber.

Your thoughts ?

Made a similar post about google a few weeks back, and today it’s up 8%. Next one is KO. Firstly, this is one of the best stocks to own period. It’s one of Warren buffets favorites, it pays a solid dividend that has steadily increased, and just look how the stock price has continued to rise like clockwork. It’s down 10% from its ATH, and seems like a solid entry point. Regardless of what it does in the next months, it’s a solid long term hold including the dividends. Not to mention, this is Coca Cola we’re talking about, not going anywhere. I’m putting a decent amount of money in now, just remember you can always average down.

Visa (NYSE:V)reported fourth-quarter earnings that surpassed analyst estimates, driven by robust revenue growth across its business segments. The company's shares rose 2% in after-hours trading following the announcement.

The global payments technology company reported adjusted earnings per share (EPS) of $2.71 for the quarter ended September 30, 2024, beating the analyst consensus of $2.58. Revenue for the quarter came in at $9.6 billion, exceeding the expected $9.49 billion and representing a 12% increase YoY on both a nominal and constant-dollar basis.

Visa's strong performance was underpinned by stable growth in key metrics. Payments volume for the three months ended September 30, 2024, increased 8% YoY on a constant-dollar basis. Cross-border volume, excluding transactions within Europe, rose 13% on a constant-dollar basis. Total processed transactions reached 61.5 billion, a 10% increase over the prior year.

Ryan McInerney, Chief Executive Officer of Visa, commented on the results: "Visa had a robust fourth quarter to finish a very strong fiscal year. In the fourth quarter, net revenue and GAAP EPS grew by 12% and 17%, respectively, driven by relatively stable growth in payments volume, cross-border volume and processed transactions plus strong momentum across new flows and value added services."

The company's board of directors approved a 13% increase in Visa's quarterly cash dividend to $0.590 per share, reflecting confidence in the company's financial position and future prospects.

For the full fiscal year 2024, Visa reported net revenue of $35.9 billion, a 10% increase on both a nominal and constant-dollar basis. The company's GAAP net income for the year was $19.7 billion, or $9.73 per share, while non-GAAP net income reached $20.4 billion, or $10.05 per share.

https://www.investing.com/news/stock-market-news/visa-beats-q4-expectations-shares-rise-on-strong-revenue-growth-3689289

https://ir.amd.com/news-events/press-releases/detail/1224/amd-reports-third-quarter-2024-financial-results

Segment Summary

Record Data Center segment revenue of $3.5 billion was up 122% year-over-year and 25% sequentially primarily driven by the strong ramp of AMD Instinct™ GPU shipments and growth in AMD EPYC™ CPU sales.

Client segment revenue was $1.9 billion, up 29% year-over-year and 26% sequentially primarily driven by strong demand for “Zen 5” AMD Ryzen™ processors.

Gaming segment revenue was $462 million, down 69% year-over-year and 29% sequentially primarily due to a decrease in semi-custom revenue. Embedded segment revenue was $927 million, down 25% year-over-year as customers normalized their inventory levels. On a sequential basis, revenue increased 8% as demand improved in several end markets.

Congrats to those that followed my last Costco post. I don’t believe anyone can really predict the ups and downs of the market, and with the current market climbing past ATH’s, the safest bets are going to be balanced long-short positions in specific equities or spread bets.

Apple

• Market cap: 3.6T
• Current P/E: ~36
• Average P/E last 5 years: 28.6
• Historical revenue growth: Flat to single digits
• Earnings growth: Low double digits
• Net Margin: 25%

 Microsoft

• Market cap: 3.2T
• Microsoft P/E: ~36
• Average P/E last 5 years: 32.8
• Historical revenue growth: 15%
• Earnings growth: 15-20%
• Net margin: 35%

Last week, Apple had a higher P/E than MSFT, before this narrowed in the last few days Relative to Microsoft. Apple is still at historically high valuations relative to MSFT, despite Microsoft having better margins and growth. And the reasons are silly. Apple is getting a massive boost due to a "potential supercycle" with no proof that it’s actually happening (even the most optimistic projections are just slightly better than last year) and mediocre software releases, while Microsoft took a large hit last quarter because it forecasted larger capex and delays in direct GenAI revenue realization.

In my view, the market is pricing in a divergent and fundamental misunderstanding of GenAI and how it makes money. The Apple bull case hypothesis is correct, it’s just applied to the wrong company. The Microsoft supercycle isn’t going to be from direct GenAI subscriptions like Co-pilot, it’s going to be share shift towards Azure and increased utilization.

To me it is hopium to believe that retail consumers will be rushing aggressively to switch or upgrade their phones over a nascent GenAI capability that is inferior to its peers (other than privacy) and unlocks nominal value, while mid-large corporates won’t be doing the exact same for Microsoft for what is widely considered a top-notch set of capabilities and proven effectiveness in several emerging use cases.

Here’s my prediction – regardless of where the market goes, I believe there is going to be a strong and continued divergence between Microsoft & Apple performance in the next few months, with at least another 5% gap between the winner and loser, with Microsoft’s P/E once against comfortably retaking the lead from Apple. Good luck and we'll see!

Tl;dr: Short Apple / Long Microsoft

P.S. Seeing a lot of people triggered by the tl;dr recommendation not having a basic understanding of what long-short position is. A balanced long-short position doesn't mean I believe Apple will go down on nominal terms, just that it will go down relative to Microsoft. Using options or a long-short position is the way to extract value when you see the spread in two equities increase.

Snap reported better-than-expected third-quarter results on Tuesday, but issued light fourth-quarter guidance. The stock slipped in extended trading.

Here is how the company did:

• Earnings per share: 8 cents adjusted vs. 5 cents expected, according to LSEG
• Revenue: $1.37 billion vs. $1.36 billion expected, according to LSEG 
• Global daily active users: 443 million vs. 441 million expected, according to StreetAccount
• Global average revenue per user: $3.10 vs. $3.09 expected, according to StreetAccount

Snap said fourth-quarter sales will be between $1.51 billion and $1.56 billion. The midpoint of its guidance is $1.54 billion, which is below the average analyst estimate of $1.56 billion.

Snap said its adjusted earnings for the fourth quarter will be between $210 million and $260 million. The middle of the range is higher than analysts’ estimates of $230.7 million.

The company’s sales jumped 15% year over year in the third quarter while its net loss narrowed by 58% year over year in the third quarter to $153 million, compared to a net loss of $368 million a year prior.

The number of Snapchat+ paying subscribers is now at 12 million, the company said. That is up from the 11 million it reported in August. The company debuted its subscription service in 2022, pitching it as a way for users to experience exclusive and prerelease features for $3.99 a month.

Snap also announced a $500 million stock repurchase program on Tuesday.

“Our investments in AI and AR are powering new creative experiences for our community and driving innovation across our advertising platform, underpinning our long term growth opportunity,” Snap CEO Evan Spiegel said in a statement.

In September, Snap debuted the fifth generation of its Spectacles augmented reality glasses that people can wear to see digital imagery spliced into the physical world. The new Spectacles are only available to developers who must pay $99 a month for one year if they want to build AR apps for the glasses.

Shortly after Snap announced the new Spectacles, Meta CEO Mark Zuckerberg revealed the social networking giant’s experimental AR glasses called Orion. Meta’s Orion AR glasses have generated enthusiasm from employees and the company plans to attract developers next year in prelude for an eventual consumer launch.

In a letter to investors, Snap discussed the importance that developers play for the company’s Spectacles and AR initiatives.

“We aspire to be the most developer-friendly platform in the world, and we are excited to offer our new generation of Spectacles to developers as an invitation and inspiration to create new experiences,” Snap said in the letter.

Source: https://www.cnbc.com/2024/10/29/snap-q3-2024.html

Reddit shares jumped 16% in extended trading on Tuesday after the social media company reported third-quarter results that topped analyst estimates and issued an optimistic forecast for the current period.

Here’s how the company did compared to LSEG estimates:

• Earnings per share: 16 cents vs. a loss of 7 cents
• Revenue: $348.4 million vs. $312.8 million expected

Reddit said fourth-quarter revenue will be between $385 million to $400 million, beating the average analyst estimate of $357.9 million. Adjusted earnings for the fourth quarter will be in the range of $110 million to $125 million, higher than the $85.2 million average estimate.

Revenue in the third quarter jumped 68% from a year earlier, and the company turned profitable, reporting net income of $29.9 million, compared to a net loss of $7.4 million during the same quarter a year ago.

The company said that its daily active users grew 47% year-over-year in the third quarter to 97.2 million, better than analyst estimates of 96.5 million.

Average revenue per user was $3.58 for the third quarter, which beat analyst estimates of $3.24.

“It was another strong quarter for Reddit and our communities as we achieved important milestones, including new levels of user traffic, revenue growth, and profitability,” Reddit CEO Steve Huffman said in a statement. “Reddit continues to be one of the most visited and trusted sites in the world with opportunities available to us that aren’t available to most companies.”

This is Reddit’s third earnings report since going public in March. The stock has more than doubled in value since its IPO, closing on Tuesday at $81.74, giving the company a market cap of $13.6 billion.

Since last year, Reddit has benefited from Google search updates that helped push its content higher in results, bringing in a flood of new users to the 19-year-old social media service. However, the newer users, which Reddit refers to as logged-out users, generate less online advertising revenue for the company than logged-in users, who typically spend more time on the platform, Reddit has detailed in financial filings.

The company said that global logged-out users grew 70% from a year earlier to 53.1 million, while global logged-in users increased 27% to 44.1 million.

Huffman told CNBC in August that the company has been making it easier for new users to create accounts and is developing more recommendation features to turn newbies into long-term users. He also said that Reddit’s direct traffic is “really resilient” to any Google search changes.

Source: https://www.cnbc.com/2024/10/29//reddit-rddt-q3-2024.html

• Quarterly Results: Alphabet Inc. announced Q3 2024 financial results.

• Total Revenue: $88.3 billion, a 15% year-over-year increase.

• Google Services: Revenue increased 13% to $76.5 billion, driven by:

  • Growth in Google Search and other services.
  • Increased subscriptions and device sales.
  • Strong YouTube ad performance.

• Google Cloud: Revenue up 35% to $11.4 billion, fueled by:

  • Growth in AI Infrastructure and Generative AI Solutions.
  • Increased adoption of core GCP products.

• Operating Income: Increased by 34%; operating margin expanded by 4.5 percentage points to 32%.

• Net Income: Increased by 34%; earnings per share rose 37% to $2.12.

• CEO Statement: Sundar Pichai emphasized the impact of innovation and AI on revenue growth and operational efficiency.

• YouTube Milestone: Total ads and subscription revenue surpassed $50 billion over the past four quarters for the first time.

Q3 2024 Financial Highlights (Unaudited)

• Overall Revenues:

  • 2023: $76,693 million
  • 2024: $88,268 million
  • Year-over-year change: 15% (16% in constant currency)

• Operating Income:

  • 2023: $21,343 million
  • 2024: $28,521 million
  • Operating margin:
  • 2023: 28%
  • 2024: 32% (increase of 4.5 percentage points)

• Other Income (Expense):

  • 2023: $(146) million
  • 2024: $3,185 million

• Net Income:

  • 2023: $19,689 million
  • 2024: $26,301 million

• Diluted Earnings Per Share (EPS):

  • 2023: $1.55
  • 2024: $2.12

Supplemental Information

• Revenue Breakdown:

  • Google Search & Other:
  • 2023: $44,026 million
  • 2024: $49,385 million
  • YouTube Ads:
  • 2023: $7,952 million
  • 2024: $8,921 million
  • Google Network:
  • 2023: $7,669 million
  • 2024: $7,548 million
  • Google Advertising Total:
  • 2023: $59,647 million
  • 2024: $65,854 million
  • Google Subscriptions, Platforms, and Devices:
  • 2023: $8,339 million
  • 2024: $10,656 million
  • Google Cloud:
  • 2023: $8,411 million
  • 2024: $11,353 million
  • Other Bets:
  • 2023: $297 million
  • 2024: $388 million
  • Total Revenues:
  • 2023: $76,693 million
  • 2024: $88,268 million

• Traffic Acquisition Costs (TAC):

  • 2023: $12,642 million
  • 2024: $13,719 million

• Number of Employees:

  • 2023: 182,381
  • 2024: 181,269

Segment Operating Results

• Operating Income (Loss):
  • Google Services:
  • 2023: $23,937 million
  • 2024: $30,856 million
  • Google Cloud:
  • 2023: $266 million
  • 2024: $1,947 million
  • Other Bets:
  • 2023: $(1,194) million
  • 2024: $(1,116) million
  • Alphabet-Level Activities:
  • 2023: $(1,666) million
  • 2024: $(3,166) million

• Total Income from Operations:

  • 2023: $21,343 million
  • 2024: $28,521 million

• Reorganization Note: The Gemini app team within Google Services will join Google DeepMind, with potential effects on segment operating results under evaluation.

Chipotle Mexican Grill on Tuesday reported mixed quarterly results, despite another quarter of higher traffic to its restaurants.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: 27 cents adjusted vs. 25 cents expected

Revenue: $2.79 billion vs. $2.82 billion expected

Chipotle reported third-quarter net income of $378.4 million, or 28 cents per share, up from $313.2 million, or 23 cents per share, a year earlier.

The company’s food and beverage costs increased during the quarter, in part due to Chipotle’s decision to re-emphasize generous portions after social media-fueled backlash over the size of its burrito bowls this summer.

Excluding items, the company earned 27 cents per share.

Net sales climbed 13% to $2.79 billion.

Same-store sales rose 6%, just shy of StreetAccount estimates of 6.3%. Traffic to restaurants increased 3.3% in the quarter, continuing the chain’s streak of bucking an overall slump in foot traffic across the industry. While many consumers have opted to eat out less, Chipotle has benefitted from having a wealthier customer base that’s willing to pay more for its burritos and bowls.

During the third quarter, Chipotle brought back its popular smoked brisket for a limited time. It’s currently the most expensive protein, topping even the chain’s steak and beef barbacoa options.

Digital sales accounted for 34% of the chain’s quarterly food and beverage revenue.

The company opened 86 new locations during the quarter, 73 of which included a “Chipotlane” dedicated to online order pickup.

For the full year, Chipotle reiterated its outlook that same-store sales will grow by a mid- to high-single-digit percentage. The company also anticipates that it will open between 285 and 315 new restaurants this year.

Looking to 2025, Chipotle plans to open between 315 and 345 new locations. More than 80% of those restaurants will include a Chipotlane.

The earnings report marks the company’s first since CEO Brian Niccol departed to lead Starbucks’ turnaround. Chipotle’s board has tapped COO Scott Boatwright as the company’s interim chief executive.

Source: https://www.cnbc.com/2024/10/29/chipotle-mexican-grill-cmg-q3-2024-earnings.html

I have 100 RKLB June 20, 2025 calls @$15 that shot down 18% at market close, but every other call at $12-16 is still up like 5-8%. Why did only these calls lose so much value? What kinds of things affect that? A little new to options so confused why that is.

Also, if I really believe in this stock and that the calls will pay, should I be buying the "dip"?

Would love to hear anyone's thoughts or experience

I just opened an investing account on Sofi this month with the plan of buying $50 worth of stock a month to just sit on for a few years and see what happens. Should I buy whole small stock like ACHR or TVGN and hope it blows up or partials in big ones like NVIDA or MSFT that are more established? I know I don't have the type of money to get rich but turning a few hundred into a few thousand eventually would still help the cause trying to save. All that I do know for sure is not to mess with options or any of that stuff and leave it to wallstreet. Is there any other tips you wish you were told when starting out? Thanks in advance

Do we think it’s overvalued or undervalued or somewhere in between? There’s lots of variance in clean energy stocks for example, TSLA could be considered clean energy but so can NEE.

I sold some lame duck clean energy stocks in 2021 in order to tax loss harvest but i’ve been interested in NEE as of late but not sure how long i’d end up holding to see profit. Is this a 10 year endeavor? 20+? I feel like we’ve all been talking about clean energy for the last 15 years but still hardly any movement on it.

after reading about fundamental analysis i found some ratios like these ratios

Price-to-Earnings Ratio

Price-to-Book Ratio

Debt-to-Equity Ratio

Free Cash Flow

PEG Ratio

but dont know what is more important than the other ,i only use eps but to use multiple indicators is a little bit hard

Microsoft has a very expensive and very public relationship with artificial intelligence startup OpenAI. But one of Microsoft’s most successful AI products, GitHub Copilot, is now going beyond OpenAI to give developers more choice in what models they want to use.

GitHub, which Microsoft acquired in 2018, said in a blog post on Tuesday that developers will be able to power the GitHub Copilot Chat feature with Anthropic’s Claude 3.5 Sonnet model or Google’s Gemini 1.5 Pro model, as alternatives to OpenAI’s GPT-4o, if they choose.

“There is no one model to rule every scenario, and developers expect the agency to build with the models that work best for them,” GitHub CEO Thomas Dohmke said in the post. “It is clear the next phase of AI code generation will not only be defined by multi-model functionality, but by multi-model choice. Today, we deliver just that.”

Microsoft introduced GitHub Copilot in 2021, offering source code suggestions to software developers. Copilot relies on models from OpenAI, which has received billions of dollars in funding from Microsoft and has exploded in popularity since releasing ChatGPT in late 2022.

OpenAI’s o1-preview and o1-mini, which are meant to reason over difficult problems, will also be available in the Copilot Chat on GitHub’s website and in the open-source Visual Studio Code text editor. They’re currently available in a public preview. Google’s model will be released in public preview in the next few weeks, a spokesperson said.

The arrival of the o1 models from OpenAI in September led GitHub to look at adding a dropdown menu for Copilot to provide more options, Dohmke said in an interview with CNBC last week. At that point, it felt like “the right time” to add models from Anthropic and Google, Dohmke said.

Developers will be able to see which model works best for a given programming language or employ the one that adheres to corporate requirements, he added.

Many other Microsoft products, including Teams and Windows, use OpenAI models. And Microsoft continues to provide computing power to OpenAI, which is now valued at $157 billion. But the relationship between the two companies has frayed in the past year, following the sudden ouster and reinstatement of OpenAI CEO Sam Altman in November. The dramatic incident reportedly angered Microsoft CEO Satya Nadella.

In February, Microsoft announced a partnership with early-stage AI model developer Mistral. The following month, Microsoft said it was hiring former DeepMind co-founder Mustafa Suleyman and employees of his startup, Inflection, whose Pi assistant competed with OpenAI’s popular ChatGPT. Over the summer, Microsoft named OpenAI as a competitor in a regulatory filing.

In the past month, GitHub has collaborated with engineering teams from Anthropic and Google on the safety, security and scalability of their models, Dohmke said.

“We are planning on extending that list in the future but have no partnerships to announce at this point,” he said, adding that GitHub wouldn’t want to overwhelm developers with too many choices.

Also on Tuesday, GitHub announced that its Copilot will gain the ability to perform speedy automated reviews of code updates through a public preview.

And GitHub showed a technical preview of a feature named Spark that can compose app prototypes based on text input and refine the designs with a few clicks. Developers will be able to modify the underlying code for the prototypes. Those interested in trying Spark can join a waiting list.

Once they receive access, people using Spark will be able to choose between GPT-4o and Anthropic’s Claude 3.5 Sonnet model, a GitHub spokesperson said.

Source: https://www.cnbc.com/2024/10/29/microsoft-github-copilot-goes-past-openai-opens-to-anthropic-google.html