Jen Saarbach of The Wall Street Skinny opened on the one price that moved while Meta’s stock fell 6%: its five-year credit default swaps, which Markit and ICE both put at a record on Wednesday, in a range of roughly 114 to 119 basis points against about 50 a year ago. Meta beat on revenue, up 26% to $65 billion, and still posted its first negative free cash flow quarter as operating margins halved. Kristen Kelly explains the new third share class. Then Tesla, where two chief investment officers read the capex cut as merger preparation, pending home sales at a 25-year low, and Airbnb banning the checkout chore list.
Featuring
Jen Saarbach, Co-host, Market Hang, and Co-founder, The Wall Street Skinny
Kristen Kelly, Co-host, Market Hang, and Co-founder, The Wall Street Skinny
Barbara Doran, CEO and CIO, BD8 Capital Partners
Nancy Tengler, CEO and CIO, Laffer Tengler Investments
Kenny Polcari, Partner and Chief Market Strategist, SlateStone Wealth
Timestamps
0:00 Welcome back, and Meta’s quarter in brief
1:10 A record wide in Meta’s credit default swaps
2:16 Why a third share class, and what it funds
3:23 The stapling that limits what he can sell
4:33 Wall Street is agnostic about share classes
5:44 Has anyone on this panel actually used Muse?
7:21 Did Lam Research disappoint, or did the market?
8:37 The retention question nobody has answered
9:59 A week with the glasses, and the blinking light
11:02 Twenty five percent daily, and a path to a billion
12:07 Red flag or green flag on Meta
13:32 Four of five go green
14:52 Tesla beat, and cut its capex
16:15 You do not raise capex if you are about to merge
18:06 Behind on robotaxis, behind on robots
19:12 I bet against him and missed a fourfold run
20:23 Is Intel the next trillion dollar chipmaker?
22:18 Right until we were wrong
23:29 Own the best in the sector, not all of them
25:00 Warehouses of chips with nowhere to go
26:23 Skepticism is healthy, and the demand is real
27:40 Pending home sales at a 25-year low
29:13 What the fall selling season hides
30:24 Who is actually buying these apartments?
31:55 Billionaires, and a hole dug for underwater hockey
34:04 Half of homeowners are under 4% or own outright
35:41 A $100,000 house and a $1 million patch of dirt
37:04 Airbnb bans the checkout chore list
38:35 Private home, or purpose-built rental?
39:39 The review system already polices this
41:33 Occupancy is back to pre-pandemic levels
42:39 The influencer playbook that stopped working
44:48 Nobody actually wants to be a landlord
48:23 Luxury keeps not doing great
51:55 The Birkin, the Cartier, and every influencer
53:42 A 35% return three years ago
#Meta #CreditMarkets #Tesla #MarketHang #YahooFinance
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