package, delivery, amazon-7470616.jpg

Today in the Market (7/13/2023)

Good Evening! On Thursday, stocks continued to sustain a weeklong rally, as the producer price data offered additional evidence of a decline in inflation and companies commenced the earnings season with stronger performance than anticipated by analysts.

The S&P 500 experienced a 0.85% increase, while the Dow Jones saw a small gain of 0.14%. The Nasdaq Composite experienced significant gains, increasing by 1.58%.

EARNINGS ARE BACK

The shares of PepsiCo, Inc. (PEP) experienced an increase due to the company’s impressive performance in its Q2 earnings report, surpassing expectations in terms of revenue and profit. This resulted from price increases across its diverse product offerings and the introduction of new innovations within the Frito-Lay division.

  • Revenue: $22.3 Billion vs. $$21.68 Billion Expected
  • Organic Sales Growth: +13% vs. +9.75% Expected
  • Earnings Per Share: $2.09 vs. $1.96 Expected

What was the global Sale footprint of Pepsi? PepsiCo experienced widespread sales gains across its global operations, particularly in Europe and its Africa, Middle East, and South Asia division, which exhibited the most significant organic growth gains. On top of that, the Frito-Lay North America division demonstrated notable advancements, while the Quaker Foods unit is the only one lagging behind the minimal 2% growth.

THE BEST TIME OF THE YEAR

package, delivery, amazon-7470616.jpg

Amazon (AMZN) recorded its highest sales figures to date during the initial 24-hour period (July 11) of its annual Prime Day event.

How much did consumers save? According to Amazon, customers made purchases exceeding 375 million items on the initial day of discounted offers, resulting in a cumulative savings of $2.5 billion. The renowned shopping event is progressively perceived as a gauge of the consumer’s condition, which has been afflicted by inflation, elevated interest rates, and the near recommencement of student loan repayments.

How much did Amazon make? According to data from Adobe Analytics, the aggregate sales for a single day reached a substantial amount of $6.4 billion, exhibiting a growth of approximately 6% compared to the previous year. The sales figures for the second day of the event indicate a notable level of robustness, amounting to a total of $6.3 billion.

Other companies want in! This year signified the ninth occurrence of Amazon’s popular deal event. According to Michael Greene, the Senior VP of Global Vertical Strategy at Criteo, Prime Day has generated a “halo” effect of discounts throughout the e-commerce sector since its establishment in 2015.

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?