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Daily Scoop 8-2

Daily Scoop 8-2

👋 Your Monday Scoops - Dashers on strike & Robinhood's flop

August 02, 2021

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Today's Scoop:Burnt Out

Big Picture

The manufacturing sector is stronger than ever.
Corporations are exceeding profit expectations.
Workers across industries are protesting and demanding higher wages.

The Market

⬇️

-0.2%

S&P 500: 4,387.16

1Mo:

+1%

| 1Yr:

+33%

| 5Yr:

+101%

Markets attempted a new record high today before fading lower. US manufacturing has never felt stronger, according to the closely-watched IHS Purchasing Managers' Index. Corporate profits are exceeding expectations at near-record rates, with 88% of companies reporting higher profits than investors projected this past quarter. Rising infections are raising concerns around potential economic restrictions.

Company Scoops ❤🌎💰

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

DoorDash's

Robinhood's

Exxon

Chevron

Google's

vaccination requirement

🤓 Inside Scoop...

Stock buybacks are a way for companies to reward their shareholders (investors and employees). They will use excess cash to buy some of the outstanding shares traded in the market. By reducing the number of shares, each share gets more valuable. So each investor owns a bigger piece of the pie. It's a little bit like the company is investing in itself. It's also a nice way to make the company's per-share numbers, like earnings (profit) per share, look better.