Welcome to Staten News — where every market this week punished the premium and asked what it was actually paying for.
ServiceNow lost a quarter of its value over a two-cent miss. The 30th Celebration Night box lost $65 before it shipped. Apple is betting people will pay $400 extra for a screen anyway. Same question in three markets: what is the premium really worth?
📊 Finance
The S&P 500 slipped 0.57% to 7,580.07 last week, while the Russell 2000 gained 1.29% and the equal-weight S&P notched its fourth straight up week.
ServiceNow fell 33.9% on the week, including 26.9% on Thursday, after a $1.00 EPS miss and a guide for backlog growth to slow from 21% to 18.5%.
Fortinet and Intel each dropped about 24%, with Intel guiding Q4 revenue to $15 to $16 billion and a foundry loss near $1.9 billion.
Regeneron gained 15.3% after revenue jumped 36% to $5.1 billion and EPS hit $20.07 against roughly $16.19 expected.
Our predicted gainer this week is AMD, which reports Tuesday with the Street expecting $13.1 billion in revenue.
Our predicted loser is Palantir, reporting tonight at $184.11 after a 29.4% pop last quarter left almost no room for a soft number.
Friday's jobs report is expected around 55,000 jobs, with Fed hawk Beth Hammack speaking Thursday.
Full story: ServiceNow Lost a Third of Its Value in a Week
🏈 Sports
Lamar Jackson's return lasted one snap before a thumb injury, and NFL.com reports he's headed to injured reserve.
Buffalo crushed Baltimore 36-10, outgaining the Ravens 433 to 138, and Josh Allen passed Jim Kelly for the franchise touchdown record.
Joe Burrow threw for 426 yards and five touchdowns, plus three picks to Amani Hooker, then won it 43-36 in overtime on his own scramble.
Denver beat Kansas City 28-24 behind Bo Nix to move to 6-2 in the AFC West.
The Eagles lost 27-10 in Washington, their sixth straight loss, and fell to 2-6.
The Brewers won the World Series in five games over Tampa Bay, the first title in franchise history, with William Contreras named MVP.
Bears at Seahawks closes Week 8 tonight, with Seattle favored by 3.
Full story: The Ravens Got Lamar Back for One Snap
💻 Tech
Apple's first touchscreen MacBook Pro, with an OLED PROLED XDR display, hits stores Friday, November 6.
Every touch model costs exactly $400 more than its non-touch version, starting at $2,899 for the 14-inch M5 Pro.
The touch models use last generation's M5 Pro and M5 Max, even though Apple put a new M6 in the base MacBook Pro the same week.
Apple reports tonight, with consensus around $1.98 EPS on $113.27 billion, and the December-quarter margin guide is the number to watch.
Meta grew its equity raise to as much as $97.5 billion, the largest ever, to fund AI data centers.
Nvidia committed $3 billion and AMD $1 billion to buy Meta stock, the same suppliers selling Meta its chips.
Meta burned $2.12 billion in free cash flow last quarter, its first negative quarter in more than a decade.
Full story: The Touchscreen MacBook Ships Friday
🃏 TCG
The 30th Celebration Ultra-Premium Collection [Night] fell 11.4% since Friday, from $575.44 to $510.03 on TCGplayer.
The Night vs. Day gap collapsed from about $41 to $14.31, a sign the market sees the two promos as nearly interchangeable.
The UPC [Day] slipped below $500 to $495.72, and it's our predicted loser into release week.
The Mew Figure Collection was the only 30th Celebration product to rise, up 2.9% to $171.24, while Mewtwo dropped to $151.00.
The regular Delta Reign ETB ticked up to $105.84 and is our predicted gainer heading into Friday.
Delta Reign and the 30th Celebration wave both release Friday, November 6, with the Build & Battle Box at wide retail November 20.
Full story: The 30th Celebration Night Box Lost $65 Before Anyone Opened One
This is not financial advice. Always do your own research.
Stay sharp. Signal over noise. — The Bandicoots 🔥