NEWS
Investors Yearn For Earnings

Big tech rebounded as investors await a slew of earnings this week, with over 500 companies reporting results. Tesla, Google, Spotify, and more are on deck for tomorrow, so we can expect some big moves. Let’s see what you missed. 👀

Today's issue covers Ryanair losing altitude, AMC’s refinancing deal, Bank of America and Verizon dipping, and Ethereum ETF approvals. 📰

Here's today's heat map:

10 of 11 sectors closed green. Technology (+2.37%) led, & energy (-0.63%) lagged. 💚

China surprised the market with a rate cut after President Xi’s short-term stimulus plans disappointed investors. The move highlights the central bank’s urgency to support growth, with it emphasizing the need for fiscal stimulus. ✂️

Small-cap natural gas company Tellurian popped nearly 70% on news that Woodside will acquire it for roughly $900 million, widening its U.S. presence. 🤝

Tesla shares popped 5% ahead of tomorrow’s earnings report after Elon Musk said the company would begin using Humanoid robots next year. 🤖

CrowdStrike plummeted another 13% as the fallout from the global tech outage it caused weighed on investors’ perception of its long-term future. 😰

Shares of toymaker Mattel rallied 15% on a Reuters report that private equity firm L Catterton approached it with an acquisition offer. 🎱

And NXP Semiconductor dipped 8% in extended hours after its second-quarter adjusted earnings missed expectations despite revenue being in line. 🏭

Other active symbols: $S (+6.72%), $SAVA (+27.28%), $DIS (-1.68%), $SERV (+16.16%), $RR (-6.80%), and $MLGO (-10.49%). 🔥

Here are the closing prices: 

EARNINGS
Ryanair Loses Altitude Amid Airline Turbulence

The budget airline saw profits tumble 46% YoY, dragging its European peers like EasyJet, Jet2, and Wizz Air down during today’s trading. 🙃

Although passenger traffic rose 10% YoY to 55.50 million during the quarter, increased competition and capacity have pushed prices down. The company now expects second-quarter fares to be materially lower than last summer vs. previous expectations of flat to modestly up.

Still, it’s trying to push forward and make hay while the sun shines, operating its “largest ever schedule” with over 200 new routes and five new bases. However, investors remain concerned about its inability to drive profits and lack of visibility into the coming quarters. 😬

As a result, Ryanair shares plunged 15%, and stocktwits sentiment turned bearish as investors expressed concern about management’s ability to navigate the broader industry headwinds. 🐻

Meanwhile, Delta struggles to recover from CrowdStrike’s impact on its systems over the weekend, even as its competitors are back to normal. Management says technical issues are weighing on its crew-tracking software, making it difficult to coordinate staff and causing 1,300+ delays and cancellations on Monday. ❌

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