Hi! Sorry you didn't see last months update, I was up to other things. No one noticed I was gone? Yeah, kinda figured, let's just get started with what I'm holding into August :)
Markets overall performed great during earnings season as a majority of the companies were reporting in line estimates or beats.
Two months ago, June 2018
My line up was as followed: Cintas, American Express, Visa, Apple, and Extra Space Storage and wooooah has everything just suddenly switched up.
Cintas just revealed their fiscal 2018 report (in the middle of July, I get it, it's weird, the company just reports financials that way) and it showed outstanding year over year growth for their 4th quarter metrics.
It predicts that it will make anywhere around $6.75 - $6.82 billion in revenue going into FY19. About $.30 billion than what they did in 2018. Super bullish on the stock still.
In other financial reporting news (where it makes sense and does not just abruptly end in the middle of the year.) Visa reported 3rd quarter earnings. Revenues and EPS were all a beat, however, transaction volume was down. Meaning that not a lot of people were swiping their Visa card.
Greensky and American Express team up, Greensky offers loans to small business owners, and this partnership is a win-win for both companies as Greensky can now have access to American Express large client base and AmEx can hand out loans to Greensky's clients.
American Express is doing something slimy, however, they are introducing a rate to said businesses but secretly tweak them a bit higher. This is only applicable to foreign businesses outside the U.S.
*slow claps* they did it, Apple finally surpassed a market capitalization of $1 trillion. Leaving Amazon in the dust. It was all thanks to their quarterly results Apple reported that pushed their stock 5 - 8% upwards, just enough to be valued at $1 trillion.
You can even witness when Apple hit $1 trillion by looking towards the far right portion of the chart
Rumor has it that PayPal is looking to purchase something, not saying that it's scouting Square as a potential buyout, but it's scouting Square as a potential buyout. However, I think Square would refuse the purchase and that MAKES ME EXCITED CAUSE WATCHING THIS PAYPAL & VENMO VERSUS SQUARE & CASH APP BRAWL IS INTENSE.
While using Snapchat, you can send and receive money, the technology/secure encryption used is from Square, more specifically the Cash app, which is neat. However, that partnership is to end by the end of this month since it's been rather uhhhhh, misused. You see, rather than paying your mate for the meal he gave you because you forgot your wallet, it's been used to purchase hookers and unlock "premium" snapchat accounts to view porn. Yikes.
Square has now partnered up with eBay to lend money to small business owners who utilize eBay to sell their own merchandise/products.
Lastly, Square reported a smaller profit loss than anticipated, getting REAL close to becoming a profitable company.