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Tuesday, June 28, 2022

Clearing Out the In-Box -- June 28, 2022

Updates

Later, 12:46 p.m. CT
: link here. Nice thesis but the graph does not support the thesis --


Original Post
Pilot shortage:
  • during Covid, commercial passenger air traffic tumbled; pilots furloughed
  • meanwhile, commercial cargo air traffic surged; hunch: pilots scarfed up by FedEx, Amazon, UPS
  • link here for Amazon Air update
Investment banks:
  • Jefferies one of the first to report
  • just reported: not good news
    • revenue dropped 30% y/y
    • earnings: 45 cents vs 51 cents forecast
  • shares drop 4% after-hours
  • link here;
EVs: speaking of a bad day, how did EVs do yesterday
  • TSLA: ended flat but overall a bad day; jumped to $750 at open; closed at $735
  • RIVN: down 4% for the day; jumped to $29.50 at open; closed at $28.44
  • GOEV: down 4.% for the day; jumped to $2.25 at open; closed at $2.13
  • RIDE: down 4.8% for the day; $1.90 at the open; closed at $1.79
  • NKLA: down 4% for the day; $5.60 at the open; closed at $5.39
  • ELMS: not trading; filed for bankruptcy
EU: now in full scale gas crisis to get through winter
  • mandates 80% storage levels by November for all member states
  • expect curtailment for power generation to protect households
  • link here;
Spare capacity: doesn't exist
  • this story all over twitter yesterday;
  • now it's a Reuters story
  • begs the question: what is Biden's purpose going to Mideast
  • Russia making huge inroads -- especially in Iraq
  • but back to the linked story -- Macron tells Biden
  • it's a bizarre "set-up" 
  • it's like a little kid running up to a bigger kid to tell him something he just heard
  • some suggest it was "posed" -- disagree; 
  • but certainly these heads of state must have already known about OPEC spare capacity
Tired of winning:
  • I don't read PowerLine much any more but a reader sent this link;
  • it's a must-read
  • trend: 
    • strict reading of constitutional law;
    • not making up "new" law
    • most amazing: these are 6 -3 rulings 
    • really scary: these are 6 - 3 rulings
      • rulings mentioned in the linked story should be unanimous
Corporations paying for reproductive services following SCOTUS decision, from a reader:
  • cynical: three-day travel / procedure is much, much cheaper for the company than months of maternity leave
  • privacy: companies can't confirm purpose of travel; allows for abuse; I'm not concerned
  • this will be taxable income; again, won't amount to much
  • a bigger story: huge amount of donor money to Planned Parenthood to get into Travel Business
Johnny Depp:
  • $301 million to play Captain Jack again for Disney?

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