🦉 Can the Amazon Partnership Put DISH Network Back on Track?
Satellite TV and wireless provider DISH Network Co. (NASDAQ: DISH) stock surged higher on news of a partnership to sell mobile services to Amazon Prime members. DISH is one of the few mainstream satellite TV and broadband providers. Its niche is providing broadband services to rural, underserved and last-mile communities where the large carriers can't or haven't installed cable and fiber optic networks. It operates 15 geosynchronous orbiting satellites, which provide internet and TV services to 98% of the country. It has been building out its 5G network and met the stipulations of over 70% of the nation being covered by June 2023. .
Who said August would be a quiet month? All the major indexes fell 1% with the NASDAQ being the worst performer, tumbling over 2%. The negative sentiment was mostly due to the United States receiving a credit downgrade from Fitch.
This is likely a knee-jerk reaction from investors looking for a reason to sell. But if history means anything, the S&P 500 index dropped 7% the last time the U.S. had its credit rating downgraded in 2011.
While this price action may not be long-lasting, it does put Thursday's earnings reports from Apple and Amazon in sharper focus. Better-than-expected results will likely recharge stocks, particularly in the technology-rich NASDAQ index. But if the results disappoint, it could take the broader market lower.
And before the opening bell on Friday, investors will get the latest reading on employment when the jobs report for July is released.
Satellite TV and wireless provider DISH Network Co. (NASDAQ: DISH) stock surged higher on news of a partnership to sell mobile services to Amazon Prime members. DISH is one of the few mainstream satellite TV and broadband providers. Its niche is providing broadband services to rural, underserved and last-mile communities where the large carriers can't or haven't installed cable and fiber optic networks. It operates 15 geosynchronous orbiting satellites, which provide internet and TV services to 98% of the country. It has been building out its 5G network and met the stipulations of over 70% of the nation being covered by June 2023.
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Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government's credit worthiness, a move that spurred debate in Washington about spending and tax policies. Fitch cited the federal government's rising debt burden and the political difficulties that the U.S. government has had in addressing spending and tax policies as the principal reasons for reducing its rating from AAA to AA+. Fitch said its decision "reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance" compared with other countries with similar debt ratings.
Up 129% year-to-date, Carnival Corporation & plc (NYSE: CCL) is one of five S&P 500 stocks that have doubled in 2023. Rival Royal Caribbean is another. The unlikely pair is tucked between mega cap technology companies NVIDIA, Meta Platforms and Tesla as this year’s best S&P performers — and they may not be done. A recent Cruise Lines International Association (CLIA) report shows that cruises remain one of the fastest-growing tourism sectors. Some 31.5 million passengers are forecast to climb aboard an ocean-going vessel this year, a 54% jump from 2022. And with pent-up...
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DoorDash set records for total orders and revenue in the second quarter as its grocery and convenience deliveries accelerated and it improved driver efficiency.The San Francisco-based delivery company said Wednesday that its total orders rose 25% to 532 million for the April-June period. That was ahead of Wall Street's forecast of 521 million, according to analysts polled by FactSet.Revenue rose 33% to $2.1 billion, which was in line with analysts' forecasts.DoorDash raised its full-year forecast Wednesday. The company said it now expects gross order values between $64.2 billion and $65.2 billion for the year, up from the $63 billion to $64.5 billion previously forecast.
Watching a stock soar ahead of earnings, like we’re seeing now with data analytics software maker Palantir Technologies Inc. (NYSE: PLTR) can be frustrating. Palantir, which one analyst touts as one of the best machine learning and AI stocks on the market, is making some big moves just days before its earnings report. On the one hand, a higher heavy-volume gap is generally an indication of more gains to follow in the coming weeks and months. That makes it tough to avoid chasing the stock higher. On the other hand, any surprise in the upcoming earnings report ca...
On December 22, 2022, AI discovered a new treatment for multiple myeloma... in just 4 months... On March 19, 2023, AI discovered a new drug for liver cancer... in only 30 days... There's one small-cap at the center of it all. Bill Gates owns 7 million shares... Billionaire hedge-fund manager Steve Cohen owns 1.4 million shares...
Talk about a pilot who knows how to run his plane!One American Airlines pilot is going viral after a passenger recorded his strongly worded rant about how he expects passengers to behave and operate while he's flying the plane.The clip, which has been viewed over 4.5 million times, was posted by passenger Anna Leah Maltezos who started recording after the pilot told passengers to listen to what the flight attendants had to say because they represent his "will in the cockpit" and that his "will is what matters." View this post on Instagram A post shared by Anna Leah Maltezos (@lone_didion)"Be respectful of each other, I shouldn't have to say that," the pilot said over the intercom.
It wasn’t that long ago that the “Magnificent 7” stocks, Apple Inc. (NASDAQ: AAPL), Microsoft Corp. (NASDAQ: MSFT), Nvidia Corp. (NASDAQ: NVDA), Tesla Inc. (NASDAQ: TSLA), Amazon.com Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL) and Meta Platforms Inc. (NASDAQ: META) were pretty much the only game in town. Since late May, other stocks have been rotating into leadership. As of July 31, the top S&P 500 performers and their year-to-date returns were: Nvidia: 219.90% Meta Platforms: 170.47% Carnival Corp. (NYSE: CCL): 129.40% Royal Caribbean Cruises Ltd.
Another year, another Amazon Prime Day. As the data from the brands I manage rolled in, I knew this would be a big year. According to Amazon, this year shoppers purchased 375 million items over two days, up from 300 million items sold last year.Amazon's summer shopping holiday has not only made an indelible mark on the buying patterns of Americans but influenced sellers as well. What used to be a lull for online shoppers is now one of the biggest days for moving mid-year inventory. So, why were Amazon shoppers ready to spend $12.7 billion on Prime Day?Bigger than Black Friday (sort of)At an initial glance, Prime reigns supreme against shopping holiday Black Friday.
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