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=E2=80=A6and Elon Musk goes on the = ad offensive (again)
=
 
=
<= /div>
=
(Chartr/Sherwood)<= /div>
 
<= /tr>=
Yesterday=E2=80=99s Market Moves
 
Dow Jones
38,763 (-0.60%)		<= span class=3D"text" style=3D"font-family: 'Helvetica Neue', Helvetica, Aria= l, sans-serif;; font-size: 13px; line-height: 22px; padding: 0;">S&P 5005,200 (-0.77%)Nasdaq
16,196 (-1.05%)		Bitcoin
$55,299 (-1.34%)
Dow Jones38,763 (-0.60%)S&P 500
5,200 (-0.77%)<= /span>
Nasdaq
16,196 (-1.05%)		Bitcoin
$55,299 (-1.34%)
= <= /table>
<= div style=3D"font-family:'Helvetica Neue', Helvetica, Arial, sans-serif;;fo= nt-size:16px;font-weight:400;line-height:24px;text-align:left;color:#000000= ;">

Hey Snackers,

Marvel=E2=80=99s =E2=80=9CDeadpool & W= olverine,=E2=80=9D which had the biggest debut ever for an R-rated flick, w= as packed with 18 cameos from past MCU characters. They=E2= =80=99re back from the dead=E2=80=A6 pool.

Stocks dipped and bond yie= lds rose yesterday as investors still felt jitters from Monday=E2= =80=99s market meltdown. Today= =E2=80=99s weekly jobless claims could help traders check in on a US labor = market that recently saw its unemployment rate spike.

StreamOn
=
<= /table>

Disney=E2=80=99s streaming biz conjure= s its first profitable quarter as theme parks lose their thrill

Putting on =E2=80=9CMoana=E2=80=9D=E2=80=A6 for = the 50th time. Investors had a clear takeaway from Disney=E2=80=99s = expectation-beating quarterly report yesterday: entertainment=E2=80=99s on = the up-and-up, and theme parks are not. Mickey=E2=80=99s streaming biz (Dis= ney+, Hulu, and ESPN+) stole the show, posting its firs= t-ever combined profit of $47M. That=E2=80=99s a reversal from last= year=E2=80=99s $500M+ loss for the same quarter. Disney=E2=80=99s movie bi= z got a boost from =E2=80=9CInside Out 2,=E2=80=9D which became the highest= -grossing animated film. =E2=80=9CDeadpool & Wolverine=E2=80=9D is expe= cted to pump up revenues this quarter. But it wasn=E2=80=99t all fairy-tale= results=E2=80=A6

  • Mouse trap: Operating income at Disney=E2=80=99s US th= eme parks fell 6% on higher expenses and flat attendance. Execs said =E2=80= =9Cflattish=E2=80=9D parks revenue will likely continue over the next few q= uarters.

Unmagic Mountain=E2=80=A6 Amusement parks t= hrived after the pandemic as people sought out real-life thrills. But highe= r park ticket prices have steered some folks to opt for cruises and global = getaways instead. Last month, Comcast said quarterly sales at= its Universal theme parks sank nearly 11%. Knott=E2=80=99s Berry Farm pare= nt Cedar Fair saw record Q1 revenue, but in-park spending slipped. <= b>Six Flags, which merged with Cedar Fair last month, saw Q1 rev= enue fall 6% on the year after it sold fewer membership passes (Six Flags r= eports fresh #s today).

THE TAKEAWAY

There= =E2=80=99s a new Belle of the ball=E2=80=A6 Parks have long been a prof= it puppy for entertainment giants. Disney=E2=80=99s experiences segm= ent (which includes parks and cruises) makes up over half of the co=E2=80= =99s annual profit. But as attendance cools, media titans are focusing on j= uicing streaming profitability. This week Disney announced it would hike prices across all three of its = streamers and roll out a Netflix-esque password crackdown =E2=80=9Cin earne= st=E2=80=9D next month.

Read this onl= ine

RATIO=
=
<= /table>
=

X tries to solve its ad i= ssue by suing advertisers as the platform=E2=80=99s problems pile up

Posting through it=E2=80=A6 Less than a yea= r after Elon Musk told advertisers to =E2=80=9Cgo f=E2=80=94 yourself,=E2= =80=9D his relationship with major advertisers has somehow gotten even wors= e. This week, X filed a federal antitrust lawsuit again= st an ad industry coalition and four of its key members (CVS, Mar= s, Unilever, and Orsted). X, which has promoted itself as= a home for free speech, alleged that the World Federation of Advertisers c= onspired to illegally boycott the platform. It was the latest update in a r= ocky relationship between advertisers and X since Musk=E2=80=99s acquisitio= n.

  • <= b>@ntitrust: X called the ad coalition=E2=80=99s moves a =E2=80=9Ccoerc= ive exercise of market power=E2=80=9D and stated that the revenue hit the b= iz suffered has made it a =E2=80=9Cless effective competitor.=E2=80=9D

    <= /li>

  • Threads: Last year, X sued M= edia Matters, a watchdog group, saying a report which said ads on X appeare= d near antisemitic content was an attempt to drive away advertisers. Anothe= r X suit, against the Center for Countering Digital Hate, was tossed in Mar= ch.

  • A suit X didn=E2=80=99t = file: The platform=E2=80=99s facing a lawsuit from journalist Don Lemon= , who had his X partnership scrapped after a contentious interview with Mus= k.

It=E2=80=99s what=E2=80=99s happening=E2=80=A6 an= d it=E2=80=99s not lookin=E2=80=99 good. Reports say X earned $114M in US r= evenue last quarter, down 53% year over year. Analysts estimate X=E2=80=99s= global ad sales will hit ~$2B this year, less than half of its 2021 total.= In June, Musk attended the= Cannes Lions ad festival to woo back advertisers that had left the platfor= m over inflammatory posts and moderation concerns. At the event, Musk told = advertisers that X might be =E2=80=9Cworth trying out=E2=80=9D again.

THE TAKEAWAY

Power users can=E2=80=99t make u= p for lost ads=E2=80=A6 Social media companies like Meta, Sna= p, and X are mega reliant on ad bucks, despite attempts to diversify (t= hink: X=E2=80=99s blue check subscription). But prolific posters may not be= enough to bail out X, which reports say has seen its US usage fall by more= than a fifth since Musk=E2=80=99s takeover. X=E2=80=99s ad-related lawsuit= s highlight just how vital the revenue source is.

Read this online

<= /table>
What else we're Snackin'

    Plugged: Boeing is red= esigning the door plug that yeeted off one of its planes this year. Regulat= ors grilled the jet maker this week over its safety practices as it moved t= o ramp production back up.

  • = Airbnbye: Airbnb investors checked out after the vaca= y rental platform gave a bummer outlook and said US demand was slowing. The= stock dropped 13% as investors learned that growth was still trending down= .

  • Upvote: Reddit=E2=80=99s adding AI-powered search after making deals with= OpenAI and Google. The social platform ended Q2 with its sha= res up 60% from its March IPO and daily users up 51% from last year.

  • Slim: Ozempic maker Novo = Nordisk reported underwhelming sales of its popular weight-loss drug We= govy after pricey concessions to pharmacy benefit managers. It=E2=80=99s al= so dealing with more weight-drug competition.

  • Shoppy: Shopify stock surged more than 20% af= ter the ecomm platform beat Q2 estimates and forecast strong growth. Shopif= y said AI tools lured more merchants to join the millions of businesses usi= ng its ecomm backbone.

=
<= /table>
Snack = Fact Of the Day

McDonald=E2= =80=99s said the word =E2=80=9Cvalue=E2=80=9D 90+ times in its Q2 earnings = call

<= /table>
=
Thursday

  • US initial jobless claims

  • <= p>Earnings expected from Eli Lilly, Krispy Kreme, Liberty = SiriusXM, Papa John=E2=80=99s, Under Armour, Yeti,= Hilton Grand Vacations, iHeartMedia, US Foods, War= by Parker, E.l.f. Beauty, Paramount, Sweetgreen, Expedia, Dropbox, Take-Two Interactive, Potbelly= , Grindr, Expensify, and Yelp

A= uthors of this Snacks own shares of: Alphabet, CVS, Comcast, Disney, Eli Li= lly, Reddit, Shopify, and Snap

<= /tbody>
<= div class=3D"mj-column-per-50 mj-outlook-group-fix" style=3D"font-size:0px;= text-align:left;direction:ltr;display:inline-block;vertical-align:top;width= :50%;">
She= rwood Media, LLC produces fresh and unique perspectives on topical financia= l news and is a fully owned subsidiary of Robinhood Markets, Inc., and any = views expressed here do not necessarily reflect the views of any other Robi= nhood affiliate... See more
--340f4d24c87b5b79511663587e4cd1c8bebb0af062a3b696e0aa89643938 Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset=utf-8 Mime-Version: 1.0
=E2=80=A6and Elon Musk goes on the = ad offensive (again)
=
 
=
(Chartr/Sherwood)
=  
<= td style=3D"vertical-align:top;padding:0;">
Yest= erday=E2=80=99s Market Moves
 = ;
Dow Jones
38,763 (-0.60%)		S&P 500
= 5,200 (-0.77%)= 		= Nasdaq
16,196 (-1.05%)		Bitcoin
$55,299 (-1.34%)
Dow Jones
(-0.60%)		S&P 500
5,200 (-0.77%)
Nasdaq
16,196 (-= 1.05%)		Bitcoin
$55= ,299 (-1.34%)<= /td>
<= /table>
=

Hey Snackers,

M= arvel=E2=80=99s =E2=80=9CDeadpool & Wolverine,=E2=80=9D which had the b= iggest debut ever for an R-rated flick, was packed with 18 cameos from past MCU charac= ters. They=E2=80=99re back from the dead=E2=80=A6 pool.

Stocks dipped= and bond yields rose yesterday as investors still felt jitters from Monday= =E2=80=99s market meltdown= . Today=E2=80=99s weekly jobless claims could help traders check in on a US= labor market that recently saw its unemployment rate spike.

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Disney=E2=80=99s streamin= g biz conjures its first profitable quarter as theme parks lose their thril= l

Putting on =E2=80=9CMoana=E2=80=9D=E2= =80=A6 for the 50th time. Investors had a clear takeaway from Disney= =E2=80=99s expectation-beating quarterly report yesterday: entertainmen= t=E2=80=99s on the up-and-up, and theme parks are not. Mickey=E2=80=99s str= eaming biz (Disney+, Hulu, and ESPN+) stole the show, posting its first-= ever combined profit of $47M. That=E2=80=99s a reversal from last y= ear=E2=80=99s $500M+ loss for the same quarter. Disney=E2=80=99s movie biz = got a boost from =E2=80=9CInside Out 2,=E2=80=9D which became the highest-g= rossing animated film. =E2=80=9CDeadpool & Wolverine=E2=80=9D is expect= ed to pump up revenues this quarter. But it wasn=E2=80=99t all fairy-tale r= esults=E2=80=A6

  • Mouse trap: Operating income at Disney=E2=80=99s US them= e parks fell 6% on higher expenses and flat attendance. Execs said =E2=80= =9Cflattish=E2=80=9D parks revenue will likely continue over the next few q= uarters.

Unmagic Mountain=E2=80=A6 Amusement parks t= hrived after the pandemic as people sought out real-life thrills. But highe= r park ticket prices have steered some folks to opt for cruises and global = getaways instead. Last month, Comcast said quarterly sales at= its Universal theme parks sank nearly 11%. Knott=E2=80=99s Berry Farm pare= nt Cedar Fair saw record Q1 revenue, but in-park spending slipped. <= b>Six Flags, which merged with Cedar Fair last month, saw Q1 rev= enue fall 6% on the year after it sold fewer membership passes (Six Flags r= eports fresh #s today).

THE TAKEAWAY

There=E2=80=99s a new Belle of the ball=E2=80=A6 Parks= have long been a profit puppy for entertainment giants. Disney=E2= =80=99s experiences segment (which includes parks and cruises) makes up ove= r half of the co=E2=80=99s annual profit. But as attendance cools, media ti= tans are focusing on juicing streaming profitability. This week Disney anno= unced it would hike prices across all three of its = streamers and roll out a Netflix-esque password crackdown =E2=80=9Cin earne= st=E2=80=9D next month.

Read this = online

RATIO=
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X tries to solve its ad i= ssue by suing advertisers as the platform=E2=80=99s problems pile up

Posting through it=E2=80=A6 Less than a yea= r after Elon Musk told advertisers to =E2=80=9Cgo f=E2=80=94 yourself,=E2= =80=9D his relationship with major advertisers has somehow gotten even wors= e. This week, X filed a federal antitrust laws= uit against an ad industry coalition and four of its key members (CVS, Mars, Unilever, and Orsted). X, which has promoted = itself as a home for free speech, alleged that the World Federation of Adve= rtisers conspired to illegally boycott the platform. It was the latest upda= te in a rocky relationship between advertisers and X since Musk=E2=80=99s a= cquisition.

  • @ntitrust: X called the ad coalition=E2=80=99s moves a =E2= =80=9Ccoercive exercise of market power=E2=80=9D and stated that the revenu= e hit the biz suffered has made it a =E2=80=9Cless effective competitor.=E2= =80=9D

  • Threads: Last yea= r, X sued Media Matters, a watchdog group, saying a report which said ads o= n X appeared near antisemitic content was an attempt to drive away advertis= ers. Another X suit, against the Center for Countering Digital Hate, was to= ssed in March.

  • A suit X didn= =E2=80=99t file: The platform=E2=80=99s facing a lawsuit from journalis= t Don Lemon, who had his X partnership scrapped after a contentious intervi= ew with Musk.

It=E2=80=99s what=E2=80=99s happening=E2= =80=A6 and it=E2=80=99s not lookin=E2=80=99 good. Reports say X earned = $114M in US revenue last quarter, down 53% year over year. Analysts estimat= e X=E2=80=99s global ad sales will hit ~$2B this year, less than half of it= s 2021 total. In June, Musk attended the Cannes Lions ad festival to woo back advertisers that had left t= he platform over inflammatory posts and moderation concerns. At the event, = Musk told advertisers that X might be =E2=80=9Cworth trying out=E2=80=9D ag= ain.

THE TAKEAWAY

= Power users can=E2=80=99t make up for lost ads=E2=80=A6 Social media co= mpanies like Meta, Snap, and X are mega reliant on ad bucks, = despite attempts to diversify (think: X=E2=80=99s blue check subscription).= But prolific posters may not be enough to bail out X, which reports say ha= s seen its US usage fall by more than a fifth since Musk=E2=80=99s takeover= . X=E2=80=99s ad-related lawsuits highlight just how vital the revenue sour= ce is.

Read this online

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What else we're Snackin'

    Plugged: Boeing= is redesigning the door plug that yeeted off one of its planes this year. = Regulators grilled the jet maker this week over its safety practices as it = moved to ramp production back up.

  • =

    Airbnbye: Airbnb investors = checked out after the vacay rental platform gave a bummer outlook and said = US demand was slowing. The stock dropped 13% as investors learned that grow= th was still trending down.

  • Upvote: Reddit=E2=80=99s adding AI-powere= d search after making deals with OpenAI and Google. The socia= l platform ended Q2 with its shares up 60% from its March IPO and daily use= rs up 51% from last year.

  • Slim: Ozempic maker Novo Nordisk reported underwhelming sal= es of its popular weight-loss drug Wegovy after pricey concessions to pharm= acy benefit managers. It=E2=80=99s also dealing with more weight-drug compe= tition.

  • Shoppy:= Shopify stock surged more than 20% after the ecomm platform beat Q2 es= timates and forecast strong growth. Shopify said AI tools lured more mercha= nts to join the millions of businesses using its ecomm backbone.

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Snack = Fact Of the Day

McDonald=E2= =80=99s said the word =E2=80=9Cvalue=E2=80=9D 90+ times in its Q2 earnings = call

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=
Thursday

  • US initial jobless claims

  • <= p>Earnings expected from Eli Lilly, Krispy Kreme, Liberty = SiriusXM, Papa John=E2=80=99s, Under Armour, Yeti,= Hilton Grand Vacations, iHeartMedia, US Foods, War= by Parker, E.l.f. Beauty, Paramount, Sweetgreen, Expedia, Dropbox, Take-Two Interactive, Potbelly= , Grindr, Expensify, and Yelp

A= uthors of this Snacks own shares of: Alphabet, CVS, Comcast, Disney, Eli Li= lly, Reddit, Shopify, and Snap

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Sherw= ood Media, LLC produces fresh and unique perspectives on topical financial = news and is a fully owned subsidiary of Robinhood Markets, Inc., and any vi= ews expressed here do not necessarily reflect the views of any other Robinh= ood affiliate... See more
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