Nvidia CEO sells shares

iPhones Banned, Disney vs Charter, Ozempic Rise, Airbnb Booking Freeze, JPMorgan Token

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Carbon Finance
September 10, 2023

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Data as of 9/10/23 12:00 PM EST

🍎 Apple Ban. Apple $AAPL shares dropped after reports of China extending an iPhone ban for government workers, potentially impacting a significant market for the tech giant. [NYT]

🐭 Disney vs Charter. Due to a contract dispute, ESPN and other Disney channels $DIS were removed from Charter's Spectrum service $CHTR, potentially depriving 15M subscribers of key sporting events, including the upcoming Monday Night Football. [R]

💉 Ozempic Empire. Novo Nordisk $NVO surpassed LVMH $LVMUY to become Europe's most valuable company at $429B, driven by the success of its diabetes and weight loss drugs. [YF]

🗽 Booking Freeze. Airbnb $ABNB stopped accepting new short-term reservations from any host in NYC who hadn't provided a city registration number, affecting a significant portion of its 38,500 active non-hotel listings in the city. [ABC]

📱 Apple & ARM Deal. Apple $AAPL has secured a long-term deal with ARM for chip architecture access, ensuring its continued use in Apple devices beyond 2040. [CNBC]

🪙 Ethereum ETF. Ark Invest $ARKK and 21Shares are seeking SEC approval for an ether-based ETF, following recent court support for crypto ETFs. [R]

📺 Roku Layoffs. Roku $ROKU is cutting 10% of its workforce (~360 employees) and restructuring to reduce costs, while projecting better Q3 results than previously estimated. [WSJ]

💵 Walmart Revamps Pay. Walmart $WMT has adjusted its wage structure, lowering starting pay for certain new hires while raising pay for 50,000 existing employees. [BB]

🏦 JPMorgan Token. JPMorgan Chase $JPM is exploring a blockchain-based deposit token to expedite cross-border payments, pending US regulatory approval. [BB]

🍺 Bud Light Bet. The Bill and Melinda Gates Foundation Trust purchased 1.7M Anheuser-Busch $BUD shares valued at $95M, signaling faith in the beer brand's prospects. [E]

📦 UPS Hikes Rates. UPS $UPS announced a 5.9% rate increase for 2024 and higher peak season surcharges, following a similar move by rival FedEx $FDX. [YF]

🧹 Uber Chores. Uber $UBER is exploring a service, codenamed "Chore," to let users hire individuals for tasks, similar to TaskRabbit, as seen in hidden app code. [FRT]

🇮🇳 Nvidia Comes To India. NVIDIA $NVDA and Tata Group are partnering to create an AI cloud in India, with Tata utilizing this infrastructure for generative AI applications. [ET]

🤖 AI Wealth Management. Morgan Stanley $MS is introducing an AI bot, developed with OpenAI, to assist financial advisers in client interactions, providing research access and potential meeting summaries, while investment decisions remain human-led. [R]

Major Earnings Recap Week of September 11th:

  • GameStop‘s ($GME) Q2 sales slightly exceeded expectations following leadership changes and the video game industry's digital shift. [BB]

    • 🟢 EPS -$0.03 Beats -$0.14 Estimate

    • 🟢 Sales $1.16B Beats $1.14B Estimate

  • C3 AI ($AI) reported solid quarterly results but forecasted a larger annual loss and withdrew its profitability prediction for fiscal 2024. [B]

    • 🟢 EPS -$0.09 Beats -$0.17 Estimate

    • 🟢 Sales $72.4M Beats $71.6M Estimate

  • RH ($RH) warned of persistent housing market challenges, affecting its outlook, despite surpassing earnings and revenue estimates. [YF]

    • 🟢 EPS $3.93 Beats $2.48 Estimate

    • 🟢 Sales $800M Beats $777.7M Estimate

Notable Companies Reporting Earnings This Week:

  • Monday:

    • Oracle ($ORCL)

  • Thursday:

    • Adobe ($ADBE), CoPart ($CPRT)

All of the companies that are reporting earnings this week can be viewed here.

Major Trades Published 9/4 - 9/8. Trades may be those of family members. [Source: 2iQ]

Buys:

  • Michael Burgess (R)

    • Company: UPS ($UPS)

      • Amount Purchased: $30K - $100K

    • Company: Blackstone ($BX)

      • Amount Purchased: $15K - $50K

  • Ro Khanna (D)

    • Company: Baxter International ($BAX)

      • Amount Purchased: $11K - $165K

    • Company: Apple ($AAPL)

      • Amount Purchased: $15K - $50K

    • Company: Target ($TGT)

      • Amount Purchased: $3K - $45K

    • Company: UPS ($UPS)

      • Amount Purchased: $1K - $15K

  • Tom Carper (D)

    • Company: ProShares Short QQQ ($PSQ)

      • Amount Purchased: $3K - $45K

    • Company: SOFI Technologies ($SOFI)

      • Amount Purchased: $1K - $15K

Sells:

  • Ro Khanna (D)

    • Company: iShares Russell 1000 Value ETF ($IWD)

      • Amount Sold: $250K - $500K

    • Company: Microsoft ($MSFT)

      • Amount Sold: $16K - $65K

    • Company: McDonald’s ($MCD)

      • Amount Sold: $15K - $50K

    • Company: Alphabet ($GOOGL)

      • Amount Sold: $3K - $45K

  • Michael Burgess (R)

    • Company: AbbVie ($ABBV)

      • Amount Sold: $15K - $50K

    • Company: Berkshire Hathaway ($BRKB)

      • Amount Sold: $15K - $50K

    • Company: Amazon ($AMZN)

      • Amount Sold: $15K - $50K

    • Company: Alphabet ($GOOGL)

      • Amount Sold: $15K - $50K

Major Trades Published 9/1 - 9/8. [Source: Finviz, SEC]

Buys

  • Broadcom ($AVGO)

    • Insider: Low Check Kian (Director)

      • # of Shares Purchased: 11,000

      • $ Amount: $9,592,282

      • SEC Forms: [1]

  • Globalstar ($GSAT)

    • Insider: James Monroe III (Director)

      • # of Shares Purchased: 5,080,416

      • $ Amount: $7,722,232

      • SEC Forms: [1]

  • TreeHouse Foods ($THS)

    • Insider: Jana Partners LLC (Director)

      • # of Shares Purchased: 112,275

      • $ Amount: $4,999,990

      • SEC Forms: [1]

Sells

  • Amkor Technology ($AMKR)

    • Insider: 915 Investments, LP (10% Owner Group)

      • # of Shares Sold: 10,000,000

      • $ Amount: $232,200,000

      • SEC Forms: [1]

    • Insider: Anges Kim (10% Owner Group)

      • # of Shares Sold: 10,000,000

      • $ Amount: $232,200,000

      • SEC Forms: [1]

    • Insider: James Kim (10% Owner Group)

      • # of Shares Sold: 10,000,000

      • $ Amount: $232,200,000

      • SEC Forms: [1]

  • Nvidia ($NVDA)

    • Insider: Jensen Huang (CEO)

      • # of Shares Sold: 89,064

      • $ Amount: $42,828,053

      • SEC Forms: [1], [2]

  • Microsoft ($MSFT)

    • Insider: Satya Nadella (CEO)

      • # of Shares Sold: 38,234

      • $ Amount: $12,557,161

      • SEC Forms: [1]

    • Insider: Kathleen Hogan (EVP, Human Resources)

      • # of Shares Sold: 26,815

      • $ Amount: $8,778,350

      • SEC Forms: [1]

  • Lululemon ($LULU)

    • Insider: Michelle Choe (CPO)

      • # of Shares Sold: 27,981

      • $ Amount: $11,220,381

      • SEC Forms: [1]

All times in ET. [Source: MarketWatch]

  • MONDAY, SEPT. 11

    • None scheduled

  • TUESDAY, SEPT. 12

    • None scheduled

  • WEDNESDAY, SEPT. 13

    • 8:30 am Consumer price index - August

    • 8:30 am Core CPI - August

    • 8:30 am CPI (year-over-year)

    • 8:30 am Core CPI (year-over-year)

  • THURSDAY, SEPT. 14

    • 8:30 am Initial jobless claims - September

    • 8:30 am Producer price index - August

    • 8:30 am Core PPI - August

    • 8:30 am PPI (year-over-year)

    • 8:30 am Core PPI (year-over-year)

    • 8:30 am U.S. retail sales August

    • 8:30 am Retail sales minus autos - August

    • 10:00 am Business inventories - July

  • FRIDAY, SEPT. 15

    • 8:30 am U.S. import prices - August

    • 8:30 am Empire State manufacturing survey - September

    • 9:15 am Industrial production - August

    • 9:15 am Capacity utilization - August

    • 10:00 am Consumer sentiment (prelim) - August

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