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  • Black Swan Street Weekly Stock Market Summary (April. 22-April. 26 2024)

Black Swan Street Weekly Stock Market Summary (April. 22-April. 26 2024)

Hedge funds turn bearish, 24/7 stock market, Google and Microsoft AI battle, banks come crying for help, Tesla's disappointing earnings, bye bye TikTok, and ...

Black Swan Street stock market newsletter stock market summary

Welcome to Black Swan Street!

Graphic of asset class performance this week

Welcome back to another edition of Black Swan Street!

It was an action-packed week, so let’s get into it:

  • Google & Microsoft Carry Big Tech💸

  • The Swan’s Selections🦢

  • In Other News🗞️

  • Next Week In The Stock Market🔮

  • The Swan’s Story Of The Week🦢

Read time: 6 minutes

Google & Microsoft Carry Big Tech💸

Alphabet and Microsoft are sending a clear message to investors: AI and Cloud Computing are two industries that are paying off.

Both companies released their earnings, and let us tell you, they did great.

Alphabet rose as much as 12%, the largest gain for them since July 2025, pushing their valuation past $2 trillion.

And Microsoft rose by as much as 3.5%, which is an impressive gain for them. 

The Main Details:

Alphabet:

  • New cash dividend program of $0.20 per share, the first in the company's history. 

  • The board of directors also approved stock buybacks of around $70 billion. 

  • Total revenue rose 16% from the same period last year.

  • Earnings per share beat estimates: $1.89 vs $1.53 expected.

  • Cloud revenue rose 30%, and Ad revenue rose 13%.

Microsoft:

  • Total revenue rose 17%, and Profits rose 20%.

  • Earnings per share: $2.94 vs. $2.82 expected.

  • Microsoft’s Intelligent Cloud Segment rose 21%.

  • Azure and other cloud services rose 31%.

  • LinkedIn revenue rose 12%, Xbox revenue rose 62%, and PC revenue rose 18%.

Quarter over Quarter Revenue Growth from Google and Microsoft

The Bottom Line:

Both tech titans are locked in a battle over the dominance of the AI field, but it seems as yesterday's results show that these two companies have room to grow side by side.

The Swan’s Selections🦢

🚗Tesla Disappointing Earnings: Tesla’s earnings came on Tuesday, and let's just say it was just as bad as everyone expected it to be. A revenue drop of over 9% year over year was reported, the steepest annual decline for Tesla since 2012. Yet, the stock still rocketed to crazy levels after hours after CEO Elon Musk revealed the planned production of new affordable EV models.

🏆China At Center Of Gold Rally: Gold prices have risen to all-time highs and guess who’s at the center of it, China. China is the world’s biggest producer and consumer of gold.

24/7 Stock Market: The New York Stock Exchange is polling market participants on the merits of a 24/7 stock market. This comes after U.S. regulators decided to review Steve Cohen’s proposal for a 24/7 exchange.

🏦Banks Come Calling For Help From Fed: The Fed says, in March, 1,804 banks tapped the emergency lending facility in the wake of Silicon Valley Bank’s collapse. This amounts to 20% of all eligible firms. Also to note, about 95% of the borrowers had less than $10 billion in assets.

🎵Bye Bye TikTok: President Biden just signed into law a bill that is forcing social media platform TikTok to divest from Chinese parent company ByteDance or face a national ban. TikTok has vowed to challenge the measure legally.

In Other News🗞

  • PwC to shrink new U.S. consulting partner class by over 50% - WSJ

  • Hedge Funds turn most bearish on equities in over a year - RT

  • Banks say they are well-prepared for CRE fallout - WSJ

  • Tesla cuts prices across global markets - RT

  • Short sellers pocket biggest-ever weekly profit from Big Tech selloff - RT

  • Companies flock to cash at fastest rate since Covid - WSJ

  • C&S Wholesale Grocers will acquire an additional 166 stores from Kroger and Albertsons for a total of 579 stores for ~$2.9B cash - RT

  • Real estate information provider CoStar Group will acquire Matterport, a provider of 3D virtual tours of properties, in a $1.6B cash-and-stock deal - RT

  • U.S. banned worker ‘non-compete’ agreements - RT

  • NBA TV rights are up for grabs - TA

  • U.S. oil and gas M&A hit a record high $51B in Q1 - RT

  • U.S. new home sales rebounded to a six-month high - RT

  • Amazon launches a new grocery delivery subscription in the U.S. - TC

  • Oracle is moving its world HQ to Nashville - CNBC

  • Whirlpool to cut 1,000 jobs globally - RT

  • U.S. GDP growth slowed to 1.6% - CNBC

Next Week in the Stock Market🔮

Earnings Calendar Next Week:

Graphic of an earnings calendar that shows all the companies reporting earnings in the stock market

Economic Calendar Next Week:

Economic Calendar Next Week
Economic Calendar Next Week continued

The Swan’s Story Of The Week🦢

Shark Tank’s Largest Fish: Julia Cheek's Everlywell $3B Success Story

Julia Cheek turned her Shark Tank pitch into a $3 billion company.

Shark Tank's most successful company is often debated between sock company Bombus and the well-known Scrub Daddy. However, Julia Cheek has built the most successful company in Shark Tank history.

Here is how she did it. - (BSS)

The Wrap-Up🔄

🎊🎉 That’s it for this week 🎉🎊

Per usual, let us know what you thought!!⬇️

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