How’s going everything going? Happy New Month 
I hope it’s off to a great start!
Today, I’m sharing a bit about cooling off, stock splitting, billion dollar acquisitions & Paypal doing what-it-do! Read that in your best ebonics voice.
I know you can’t wait, sooooo let’s get it!
COOLING OFF WITH SOME STARBUCKS
They say the streets are cold… but boi is it super hot in the American summer right now? Clearly, Americans are hot and thirsty.
How best to “cool me cool me downnnnn” in Tomi, Big Wizzy’s voice?
Them folks be outchea spending all their funds on Starbucks cold drinks. I mean, to be honest, I can attest to it, Starbucks drinks can do a thing or two on ya, if that’s your thing.
Americans be like: Git’mi one of those!!!
…but i hear its sooo hot though. Can’t blame them now, can we?
This has led to a spike in demand for Starbucks’ cold coffee products and in turn, better-than-expected quarterly earnings and revenue. The company said that the popularity of its iced shaken espresso and other cold beverages accounted for 75% of U.S. sales this quarter, and its shares also jumped about 1.13%. The company came out with quarterly earnings of $0.84 per share, beating the estimate of $0.77 per share.
Starbucks also beat revenue estimate as revs came in at $8.15 million dollars, compared to the estimate of $8.11billion
Let’s put on our thinking caps for a hot minute (pun most certainly intended). Is it strange that Americans are not exactly reducing their spending/consumption despite the looming inflation? Not to mention, the jobs created in July doubled the estimated/expected number… story for another day though but one would think that because of the soaring prices of gas and other goods, budgets would be tight. Or are folks just hella desperate? Is it that hot?
I mean?
ANOTHER BILLION-DOLLAR AMAZON ACQUISITION
The developer of Roomba robot vacuum cleaners, iRobot, has agreed to sell its business to Amazon for $1.7 billion. Amazon’s acquisition of iRobot makes it the company’s fourth-largest acquisition after its $13.7 billion acquisition of Whole Foods in 2017. The world’s largest online retailer, Amazon, made the deal official on Friday, announcing that it would pay $61 per share in cash to acquire iRobot.
…must be nice, init?
iRobot’s Roomba has been around for 20 years, and has been a leader in the home robot industry. Since 2017, Roomba and Alexa from Amazon have worked together: from partnership to acquisition 
and in May, iRobot unveiled the updated its Operating System. Amazon is a market leader in smart home devices like ring video doorbells, and home security gadgets but they have never offered a vacuum cleaner before.
I’m lowkey curious to see how this plays out but then again, Amazon… is AMAZON.
TESLA STOCK SPLIT
I bring good news, o ye investors…
Does Elon ever stay out of the news? hehehe
Anyways, earlier in the week, Tesla Inc. shareholders approved a plan to make the company’s stock more affordable, thereby enticing more individual investors.
I’m sure you can already guess what it is
Tesla announced a three-for-one stock split that will begin on the 25th of August. This split will lower Tesla’s share price toabout $300.
This will be Tesla’s second share split in under two years. In 2020, the company did a five-for-one stock split, and it resulted in a 60% surge in share price between the day of the announcement and the execution date. After the 2020 stock split, Tesla shares, which began trading at $17 a share in 2010, increased to more than $1,200 late in the year, pushing the company’s market worth above $1 trillion.
Can they remake this magic? Only time will tell.
PAYPAL STOCKS
I’m sure Paypal investors are grinning from ear to ear right now. The company shares grew by about 14% this week when the company announced its Q2 earnings. This last quarter, the overall volume of payments increased by over 9%, making the value of payments made ~$340 billion.
Where are they getting this money???
What is ‘occurring’, y’all?
At the end of the second quarter, there were 429 million active PayPal accounts, up 6% from the same period last year, and this number includes 35 million business accounts. The total payment volume also grew to $339.8 billion increasing by 13%.
But there was a surprising element in all of these…
The CEO, Dan Schulman, hinted that the company plans to lower its operating costs by saving $900 million in expenses this year and $1.3 billion next year. Now usually, announcements like these can cause stock prices to fall but this clearly didn’t happen, hence my surprise.
But then again, it’s the stock market. You can’t exactly predict anything.
Before you go, read how this talented photographer saves about 80% of his income in our latest blog post
It’s a wrap!
What are you waiting for?!?!
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Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove
