It's Wednesday My Dudes
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NEWS
It Is Wednesday, My Dudes
It Is Wednesday, My Dudes – tneor
The market climbed on Wednesday. Outside of the Middle East, there was not a ton of policy-related news, and though climbing 18% from the bottom, the S&P 500 stands alone in the green for the year. Without further news on tariff deals, analysts say it will be hard for the market to climb any further. Maybe Fed Chief Powell will stir things up speaking tomorrow. 👀
Today’s issue covers: Etoro’s IPO Flew, SMCI Climbs on Cool News, and More. 📰
Here’s the S&P 500 heatmap, followed by index closing numbers and the ETFs that track them. 3 of 11 sectors closed green, with tech $XLK ( ▲ 0.65% ) leading and healthcare $XLV ( ▼ 2.35% ) lagging.
S&P 500 Map – finviz
S&P 500 | $SPY ( ▲ 0.13% ) | 5,893
Nasdaq NDX | $QQQ ( ▲ 0.6% ) | 21,319
Russell 2000 | $IWM ( ▼ 0.89% ) | 2,084
Dow Jones | $DIA ( ▼ 0.23% ) | 42,051
STOCKS
Etoro Jumps After IPO, Is It Fintech Summer? 🐻
eToro $ETOR ( ▲ 28.85% ) debuted on the Nasdaq on Wednesday, raising nearly $310 million after pricing its IPO at $52 per share, above expectations. The stock opened at $69.69, surging 34% and valuing the company at $5.6 billion. The stock hit as high as $74/share at one point.
Investors welcomed the strong debut amid a prolonged IPO slowdown tied to tariff concerns. Chime, a fintech bank, also filed to go public on the Nasdaq. With tariff cuts on the way, 2025 could bring back fintech IPO’s:
Back in April, Swedish Buy Now Pay Later firm Klarna and the U.S. ticket dealer StubHub delayed their public listing debuts after President Trump’s Liberation Day event on the 2nd.
“We felt that we’re seeing the light at the end of the tunnel of the correction in the markets,” CEO Yoni Assia told CNBC.
Ahead of listing, eToro saw a nearly 30% spike in Stocktwits watchers, with retail sentiment maxing out.
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COMPANY NEWS
SMCI Looking Extra Cool 🧊
$SMCI ( ▲ 15.71% ) climbed Wednesday, up more than 30% for the week after a $20 billion Saudi AI server deal with DataVolt. Analyst insight also helped, as Raymond James initiated coverage with an “Outperform” rating and a $41 price target, citing Super Micro’s strong position in AI-optimized infrastructure.
Supermicro also announced new products, introducing a ‘DLC-2 liquid cooling system,’ designed to cut data center power consumption by up to 40% and reduce total cost of ownership by 20%.
Super Micro Computer Inc – Stocktwits retail is ‘extremely bullish’
STOCKS
Other Noteworthy Pops & Drops 📋️
$CSCO ( ▼ 0.79% ) Cisco reported Q3 earnings of $0.96 per share, beating forecasts of $0.92, with revenue of $14.15 billion, exceeding estimates of $14.05 billion. The network firm raised its full-year guidance, citing strong AI-driven demand and robust product orders.
Tesla $TSLA ( ▲ 4.07% ) is reassessing Elon Musk’s pay package, with a special board committee exploring new stock options and alternative compensation structures. The review follows a Delaware court ruling that voided Musk’s $56 billion 2018 pay deal.
Waymo, a self driving car startup owned by Google, recalled over 1,200 self-driving taxis due to a software glitch that could cause collisions with roadway barriers. The recall follows an investigation by the NHTSA after reports of unexpected driving behaviors, including 17 minor crashes.
Dick’s Sporting Goods $DKS ( ▼ 1.15% ) is nearing a $2.3 billion deal to acquire Foot Locker, with discussions valuing Foot Locker at $24 per share, an 86.5% premium to its last closing price. Foot Locker $FL ( ▼ 3.31% ) shares surged in extended trading, while Dick’s Sporting Goods fell following the report. The deal could be finalized as soon as Thursday.
Meta $META ( ▲ 0.51% ) is facing a $200B lawsuit over its plan to use Facebook and Instagram user data for AI training. Austrian privacy group Noyb has issued a cease-and-desist letter, arguing that Meta’s approach violates GDPR rules by bypassing explicit user consent. The company claims a “legitimate interest” in processing the data.
Foxconn, a producer of both Apple and Nvidia tech, lowered its 2025 outlook, citing tariff uncertainty and currency pressures. Chairman Young Liu noted that every one-unit rise in the Taiwan dollar against the U.S. dollar could reduce annual revenue by 3%.
AMD $AMD ( ▲ 4.68% ) announced a new $6 billion stock repurchase program, increasing its total buyback authorization to $10 billion.
Tencent $TCEHY ( ▲ 3.46% ) reported Q1 revenue of 180 billion yuan ($24.97 billion). Domestic gaming revenue surged 24%, international gaming revenue climbed 23%, and AI-powered advertising contributed to a 22% rise in marketing services revenue.
Airbnb $ABNB ( ▼ 0.44% ) is expanding beyond home rentals, introducing services like personal chefs, massages, and guided experiences. The redesigned app integrates these offerings, aiming to position Airbnb as a one-stop travel platform. Retail seemed unimpressed.
…EXCEPT DEATH AND TAXES
They Want To Spend HOW MUCH??!!
Trump secured a $1.2 trillion trade agreement with Qatar, marking one of the U.S. history’s largest bilateral commercial deals. The entire pay package is unclear, though the White House said the agreement includes a $96 billion purchase by Qatar Airways of up to 210 Boeing widebody aircraft and major investments in defense, energy, and technology.
Boeing $BA ( ▲ 0.64% ) turned out to be a major winner on the other side of Liberation Day, as it secured its largest-ever order. The gang seems unsure of how good this is: Boeing said it would bring in 400,000 jobs in the U.S. The White House said 154,000. Boeing currently employs just 170,000 people, so it will either cut 10% of its workforce, or hire 300K people. /s 😆
Big Beautiful 🐂
The House of Representatives is doing the unimaginable this week: working. The GOP-controlled House is burning the midnight oil trying to finalize a ‘Big Beautiful Bill’ to address tax cuts they passed in 2017, which go out of fashion this year. The bill includes a heap of tax cuts for the wealthy, overtime tax breaks, and increased State and Local Tax Deductions up to $30,000- if you can find enough to write off. 🤭
Unfortunately, the bill looks like a tough pill to force down Senators’ throats. 💊
WHAT’S ON DECK
Tomorrow’s Top Things 📋
Economic data: PPI (8:30 AM), Retail Sales (8:30am), Initial Jobless Claims (8:30am), Fed Powell Speaks (8:30am), Fed Balance Sheet (4:30pm). 📊
Pre-Market Earnings: Alibaba Group ($BABA), Walmart ($WMT), John Deere ($DE), Gambling.com ($GAMB). 🛏️
After-Hour Earnings: Virgin Galactic Holdings ($SPCE), Applied Materials ($AMAT), Precipio ($PRPO), Bit Digital ($BTBT), Quantum Computing ($QUBT), Take-Two Interactive ($TTWO), Cava Group ($CAVA), Doximity ($DOCS). 🎧
P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍
Links That Don’t Suck 🌐
👀 Here Are the Winners and Losers in the Republican Tax Bill
📺️Dollar Recovers on News the US Not Seeking a Weaker Dollar
🏠️ Sen. Ron Johnson (R): The Ugly Truth About the ‘Big Beautiful Bill’
⚠️ Inflation just hit a 4-year low. Don’t expect price relief to last even as trade wars die down
🤑 Aramco pleges $90 billion in US tie-ups worth up to $90 billion amid Trump Gulf tour
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
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