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Hey there weekday warrior,
Anyone have a YouTube TV password I can borrow?
Enjoy the next 4 minutes and 35 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
+ US Stocks “fell Thursday, weighed down by a hotter-than-expected U.S. inflation report, as tech shares failed to keep the momentum seen earlier in the week.” (CNBC)
+ The 10-year yield “edged up Thursday as investors weighed a hotter-than-expected November wholesale inflation reading.” (CNBC)
+ Oil “settled close to unchanged on Thursday, pressured by a forecast for ample supply in the oil market but supported by rising expectations of a Federal Reserve interest rate cut.” (Reuters)
+ Bitcoin “climbed on Thursday, extending an overnight rebound as risk appetite was boosted by in-line U.S. consumer inflation data, which kept investors largely betting on a December interest rate cut.” (Investing.com)
+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Tesla -1.5% 2) Broadcom -1.3% // +14.0% after hours 3) Nvidia -1.4%
The market moves you need to know about…
– Adobe (-13.6%) is down bad… after reporting that they crushed expectations. Wait, what? Despite revenue increasing 11% in Q4 and bringing in adjusted earnings of $4.81 per share, Adobe issued a sad excuse for revenue guidance. Canva IPO has entered the chat.
+ In a move that sounds like a Succession episode, Warner Bros. Discovery (+15.4%) announced that it is restructuring to split up into two distinct divisions. One that will focus on streaming and production, and another that will try to shore up WBD’s legacy cable TV business. But they’ll both be loved equally. HBO Max, Discovery+, and the WB studio will be bundled, while cable networks CNN, TNT, TBS, Food Network, and HGTV will assemble under one roof to live out their remaining days.
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I am never going to financially recover from this
Source: Giphy
Have you or a loved one suffered from YouTube TV price increases?
YouTube TV (GOOGL -1.7%) subscribers woke up to an unwelcome email Thursday (imagine trying to compete with The Water Coolest). Subscription prices are rising (again) by an additional $10 per month, bringing the monthly total to $82.99 a month.
Sling’s cousin posted on X about the change: “We don’t make these decisions lightly, and we realize this impacts our members,” citing “rising content costs” as the catalyst. To be fair, quantum computers don’t pay for themselves, you guys…
Disgruntled users are pointing to the sheer speed (and lack of lube) with which YouTube TV has jacked up prices over the last several years. At launch in 2017, YouTube TV was priced at $35 per month. In 2019, $50. By April ‘23 it hit $73 a month.
That’s an increase of over 137% (adjusted for inflation) for those of you keeping score at home…
Looks like YouTube TV is taking a page straight out of the Netflix penetration pricing playbook: enter the market with low, low prices, get people hooked, and then jack up the cost.
Some subscribers are threatening to drop their plans, but Google knows their threats are about as empty as celebrities threatening to move to Canada after every election.
Costco (-0.6%) reported a beat on the top and bottom line during Thursday’s earnings call, proving once again that the $1.50 hot dog remains undefeated. You might remember that back in July, Costco raised membership fees for the first time since 2017. Shut up, YouTube TV, this is different.
But it turns out that the new membership pricing hasn’t impacted revenue (yet) thanks to Costco’s deferred accounting. Instead, heavy hitters put the team on their backs. Think: gold & jewelry, sporting goods, and home furnishings. Costco even saw a 13% increase in e-comm sales vs. last year. Suck it, Bezos.
+ Did the intern come up with that ticker symbol?
Yesterday, cloud software provider ServiceTitan began trading under the ticker symbol TTAN (I’m not mad, I’m disappointed…). What it lacked in creativity, ServiceTitan made up for in day 1 gainz…
ServiceTitan raised $625M, which should help it do whatever the hell cloud software providers do, and saw shares pop more than 40%. That put its market cap at $8.9B.
As you might have guessed, everyone is wondering the same thing… are IPOs back?
+ This is why we can’t have nice cheap things…
Just a day after we got CPI data that was in line with expectations, and all but guaranteed a rate cut next week, PPI came off the top rope and raised some red flags.
The Producer Price Index rose 0.4% for the month, which was above estimates. And year over year, producer prices rose 3%, the largest jump since early 2023. *Spidey senses begin tingling* Luckily, core PPI played nice.
The data isn’t quite “not great, Bob” territory, but it has some thinking maybe we aren’t out of the woods quite yet. That said, markets still expect a rate cut next week.
+ Company that sparked backlash over ‘mass firing’ of ‘stressed’ employees reveals it was all a publicity stunt. YesMadam is playing chess while everyone else is playing checkers.
+ Redfin Reveals the Staggering Number of Renters Who Say They Have Nothing Left After Paying Rent. This math AIN’T mathing.
🔥 Capital gains tax on real estate: How much you'll pay when you sell a home. Friendly reminder: you only pay taxes if the government knows about the transaction.
FYI, TWC might be compensated if you click on the links above. So, what are you waiting for? Start clicking.
⏪ Yesterday we heard from Lovesac before the bell and Broadcom, Costco, and Restoration Hardware after hours. We also got PPI data.
⏩ Today we’re keeping an eye on…
+ Not a whole lot going on…
Yesterday, I asked, “What do you think you'll spend on alcohol (at home and the bar) over your entire lifetime?”
$50k-$100k
$100k-$200k
$10k-$25k
And here’s today’s question…
Let’s start some holiday arguments…
What's the best Christmas movie of all time?
Oh, and one more thing…
What did you think about today's newsletter?
Does this look like the face of a guy you should take financial advice from?
No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...
This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.