Everyone Is Moving To Florida

Plus, the latest meme stock...

31 Jul

*past 24-hour performance

  • The latest meme stock: Tupperware shares have risen 450% in less than two weeks for no apparent reason amidst a rise in retail investors and a short squeeze (Fortune)

  • Booming Florida: North Florida land developer, The St. Joe Company (JOE), posted huge earnings results and increased its dividend by 20% as people continue to relocate to North Florida (St. Joe)

  • Cereal spinoffs: Snacking giant, Kellogg (K), took the next step toward splitting into two businesses, one focusing on cereal and the other on snacking by filing a Form 10 with the SEC (Food Dive)

    • We have previously covered the power of stock spinoffs and how to profit from them here.

  • Wage growth slows: Pay & benefits increased 1%, down from 1.2% in the first 3 months of the year, a sign the economy is cooling (NYT)

  • Exxon, Chevron remain payout gushers: Despite Exxon (XOM) and Chevron (CVX) each posting their weakest quarterly profits in more than a year Friday, it's having little impact on cash returns to the supermajors’ shareholders (WSJ)

  • Ticketmaster in trouble: Live Nation (LYV), the parent company of Ticketmaster, may potentially face an antitrust lawsuit from the Department of Justice (DOJ) before the year ends, a situation that could lead to a breakup of the company (Politico)

  • Trucking giant Yellow shuts down: After years of financial struggles, U.S. trucker Yellow Corp. is reportedly preparing for bankruptcy and seeing customers leave in large numbers (AP)

  • Deflation worries in China: Signs of deflation are becoming more prevalent across China, heaping pressure on Beijing to reignite growth or risk falling into an economic trap it could find hard to escape (WSJ)

The Week Ahead:

  • Monday: The week begins with the Eurozone's inflation and GDP growth rate flash estimates for July and Q2 2023 respectively

  • Tuesday: We’ll get the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) report for June, tracking the number of openings, hires, quits, and separations for the month

  • Wednesday: Payroll provider ADP releases their National Employment Report, which tracks growth in private sector payrolls. Projections call for a gain of 210,000 in July, after payrolls surged by almost half a million in June

  • Thursday: The Bank of England is set to make its interest rate decision, which could have significant implications for global markets

  • Friday: Wrapping up the week, the spotlight will be on the U.S. Nonfarm Payrolls Report for July. This key indicator could potentially offer signals about the Federal Reserve's future policy moves

Notable Earnings Calendar:

  • Monday: Arista Networks (ANET), ON Semiconductor (ON), Welltower (WELL), & Diamondback Energy (FANG)

  • Tuesday: Merck (MRK), Pfizer (PFE), Toyota Motor (TM), Advanced Micro Devices (AMD), Caterpillar (CAT), BP (BP), Starbucks (SBUX), Uber (UBER), Altria Group (MO), Marriott (MAR)

  • Wednesday: Qualcomm (QCOM), CVS Health (CVS), Shopify (SHOP), PayPal (PYPL), Equinix (EQIX), Thomson Reuters Corp. (TRI), Ferrari (RACE), Humana (HUM), Phillips 66 (PSX), and MetLife Inc. (MET)

  • Thursday: Apple (AAPL), Amazon (AMZN), ConocoPhillips (COP), Amgen (AMGN), Stryker (SYK), Booking Holdings (BKNG), Gilead Sciences (GILD), Airbnb (ABNB), Cigna (CI), and Occidental Petroleum (OXY)

  • Friday: Enbridge Inc. (ENB), NatWest Group (NWG), Dominion Energy (D), and Liberty Media Corp. (FWONA)

Debt trajectories diverge in frontier markets
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The Home Equity Opportunity
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  • Putin rewards African allies with promise of free grain (Bloomberg)

  • The U.S. is home to at least 30 million cricket fans, double from about a decade ago (Axios)

  • Two supermoons in August mean double the stargazing fun (WP)

  • Fixing Fixed-Income: The case for better trading tools (Dave Hafford)

  • SEC asked Coinbase to halt trading in everything except bitcoin (FT)

  • How the superconductor could change everyone's lives (Alex Kaplan)

  • The economics of NBA contracts (Marginal Revolution)

Thunderclap Research is a professional investment research firm focused on understanding and profiting from market anomalies.

We take both a quantitative and qualitative approach to research and focus extensively on strategies for established money managers and everyday retail investors.

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