The “A” Team

[The beef 675] [I'm an image] “Name someone who hates coronavirus more than Jeff Bezos… I’ll wait.” - Jeff Hey there carnivores, Markets were down on Thursday, ending a record-setting April. And today we’re talking about Apple and Amazon disappointing. Keep raging, Jeff & Jason [Image] [I'm an image] The A Team It’s been a week chock full of after-hours gains for major tech players. Surely Amazon and Apple would follow suit. Right? "Right?!" - Apple and Amazon investors You gotta spend money to make money Apple shares decreased by more than 2%, as the tech company reported flat revenue and [pulled its guidance]( for the next quarter thanks to COVID-19. Revenue came in at $58.3B, compared to an estimated $54.54B, and EPS of $2.55 eclipsed the projected $2.26. iPhone revenue fell to $28.96B, which was a 7% drop off from the same period last year. I guess that third camera lens didn’t move the needle like it’d hoped. While seemingly every other company is pinching pennies just to get by, Apple is struggling to spend. The [iRack]( maker is flexing its cash stockpile by continuing [with its stock repurchase program]( and is even authorizing an additional $50B to be bought back during the year. It still has $192.8B in cash on hand. Smart spending goes a long way, or so my [gam-gam]( says. You won't like Jeffrey Commerce when he's angry Amazon missed big on EPS, reporting $5.01 compared to estimates of $6.25 thanks to an increase in ‘rona related costs across its supply chain. But it’s not all bad... just mostly. Revenue beat estimates ($75.45B vs. $73.61B) thanks in large part to Amazon’s cloud service, AWS, which topped $10B in revenue for the first time ever. Many of AWS’s customers, like Slack and Zoom (ever heard of ‘em?!), saw [increased usage over the past quarter]( thanks to the Great Repression. Are you happy now, corona? The mixed news sent shares down 5% after hours. The bottom line... But that probably wasn’t the only thing that spooked investors… You know sh*t is about to hit the fan when a company's press release starts with “If you’re a shareowner in Amazon, you may want to take a seat…” Jeffrey Commerce announced that the tech company [will spend all of its Q2 profits]( on coronavirus prevention and protection for its beloved, highly valued, and free to leave at any time they want, employees…. which is estimated to be somewhere in the (empty because of social distancing) ballpark of $4B. Hundreds of millions will be spent on tests for the workers, while another pocket of the profits will fund higher wages for workers and protective equipment. [Image] What If Everything You Were Told About Investing In Startups Was Wrong? [Alternate text]( Discover What Makes The Boardroom So Different As Well As, The Resources They Offer Average People To Take Advantage And Navigate Through This Exciting But Misunderstood Space [Watch Now]( [I'm an image] ☑️ Boe sh*t. After reporting poor earnings and an impressive cash burn rate yesterday (and I mean that in the worst way possible) Boeing announced last night that [it is raising $25B]( via a bond offering. The move has Boeing effectively saying "f*ck you" to the haters who have criticized the plane-maker for trying to get federal aid as part of the various government programs that have rolled out. The offering had seven different tranches, with maturities ranging between three and forty years, though none of the buyers were disclosed. Only one thing is for sure: more buybacks, baby. ☑️ More like @Whack. Twitter’s stock dropped yesterday after it announced a 27% decrease in ad revenue during the last three weeks of March as part of its pre-market earnings release. The social platform reported a net loss of $8M on the quarter compared to $191M during the same time period the year earlier. AND no likes or retweets. The March numbers weren’t so bad but a lack of confidence in anything related to April was what had investors heading for the exits. One Twitter exec pretty much threw his hands up during the earnings call saying “(March) gives you a good sense of what it’s been like for us.” Thanks for the guidance, pal. @Jack was nowhere to be found (presumably in Africa or fulfilling his CEO duties at Square) but his company's shares dropped 7.75% on the day. ☑️ Lending a hand. Don’t tell the Fed that parts of America are looking to open up and get “back to normal.” The [nation’s central bank is expanding loan offerings]( (real loans, with real interest... not PPP “loans”) and qualifications for its $600B coronavirus relief fund to reach small and midsize businesses. As it currently stands banks lend to companies and the Fed is buying those loans from the banks, bearing most of the risk. Foolproof... The qualifications have been revised so that employers with 15k employees and $5B in revenue are now eligible to receive relief. Previously the limit was 10k employees and $2.5B in revenue. Harvard is hiring and preparing to reapply as we speak. The Fed isn’t letting banks totally off the hook. For larger companies with higher debt loads, the banks which provide the loans will have to retain a 15% stake of the debt it sells to the Fed, compared to 5% under the old format. ☑️ Making a mil. Gilead reported its fiscal Q4 earnings yesterday just as the drugmaker vaulted itself into the top spot for treating coronavirus. It appears that Gilead’s remdesivir is the anti-coronavirus drug the public has been waiting for. After some confusion on whether or not it actually works, the drug showed 50% of patients who took it for five days improved, and those who took the drug recovered after only 11 days, not the 15 days it took non-users. The FDA still has not officially approved the drug, but Gilead said it could produce as much as [140k rounds of its 10-day treatment by the end of May]( and could make as much as 1M rounds by the end of this year. Might want to get that approval first. Overall, Gilead spent $50M on researching the drug during its final fiscal quarter. It reported a 5% increase in revenue over last year at $5.55B thanks to a bump in sales from people stocking up on prescriptions. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. 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