📹 Zooming in on Zoom

Good evening. Jerome Powell finally told us what we wanted to hear: the central bank could start cutting interest rates as soon as September. He said the risks between keeping inflation in check and supporting jobs are starting to shift.

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Market data: today’s market close

WINNERS

⬆︎39.17% Opendoor

No surprise here: Opendoor exploded after Powell hinted at possible rate cuts. Lower rates are huge for the digital real estate platform since both its borrowing costs and customer demand depend on financing. Still, it’s very much a meme stock, so beware of the hype outrunning the fundamentals. [Read more]

⬆︎15.69% SharpLink

Gaming company or crypto treasury? The gaming tech company (with one of the largest corporate Ethereum holdings) approved a $1.5 billion stock buyback program just days after purchasing $668 million worth of Ethereum. The move is designed to show confidence in the company’s long-term strategy and give management flexibility to support the stock when conditions make sense. [Read more]

⬆︎12.71% Zoom

🔔 Earnings report - The tool we thought peaked in 2020 might be reinventing itself. The video conferencing pioneer reported top-notch quarterly earnings and revenue, with an even better outlook for the rest of the year. Big corporate customers spending is driving growth and the company is leaning heavily into AI to make its tools more efficient. [Read more]

⬆︎5.53% Intel

Trump said the struggling U.S. chipmaker agreed to give the U.S. a 10% stake for $10 billion. While not officially confirmed, the move would make Washington Intel’s largest shareholder and mark a rare case of direct government investment in a private company. [Read more]

⬆︎3.04% Google

From rivals to partners. The search and cloud giant just signed a six-year deal worth more than $10 billion to provide cloud services to Meta, the owner of Facebook and Instagram. The agreement will give Meta access to Google’s servers, storage, and networking as it ramps up spending on massive AI data centers. [Read more]

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Market data: today’s market close

LOSERS

⬇︎5.03% Intuit

🔔 Earnings report - Can’t escape its Mailchimp problem. The company behind TurboTax, QuickBooks, Credit Karma, and Mailchimp delivered a commendable quarter but warned that growth may slow down and lowered its forecast for 2025. Mailchimp remains a drag as small businesses find it harder to use, and TurboTax saw a slight dip in U.S. users. Still, management approved a $3.2 billion buyback. [Read more]

⬇︎8.52% BJ’s Wholesale Club

🔔 Earnings report - The membership-only retailer came up short on revenue, and while membership hit a record 8 million, shoppers aren’t spending like they used to. Same-store sales barely budged, which is a red flag. For now, the retailer’s keeping prices steady for members, even as it trims back on tariff-heavy stuff like holiday décor. [Read more]

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Market data: today’s market close

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