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Daily Scoop 10-25

Daily Scoop 10-25

👋 Your Monday Scoops - Tesla electrifies, Snap crashes & WeWork's back

October 25, 2021

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Today's Scoop:Electrified

Big Picture

Corporate profits continue to surprise to the upside.
Apple's data privacy changes are hurting advertisers.
Companies across the board are raising concerns about higher prices.

The Market

⬆️

+0.5%

S&P 500: 4,566.48

1Mo:

+3%

| 1Yr:

+34%

| 5Yr:

+115%

Markets continued the upward momentum from last week into the final days of October. Corporations seem to have had a much more profitable third quarter than investors expected. Over 100 of the S&P 500 companies have reported their financial health so far, and 84% reported higher profits than projected. Inflation's still the main concern on everyone's mind. Companies from consumer brands to automakers have raised concerns about rising costs.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Tesla

electrifies the rental world

Activision's

frat boy culture shift

Snapchat

eaten by Apple

WeWork's

back with a SPAC

Exxon's

capturing some carbon

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

SPACs are Special Purpose Acquisition Companies. They're sometimes called "blank check" or "shell companies" because they aren't businesses on their own. Big investors create the SPAC, then sell shares on the public market like any public stock. The SPAC uses the money from the share sales to buy a private company within two years, or they have to give the money back. It shortens the time and work necessary for a private company to go public.