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Business

Is TikTok Done in the U.S.?

ByteDance Would Rather Close Than Sell

Hey, did you hear? Last Wednesday President Joe Biden just signed off on a law that says TikTok's parent company, ByteDance, has to either sell to a U.S. owner within a year or close up shop. But, who knows if that law will hold up against the legal challenges it's likely to face, or if ByteDance will even agree to sell?

According to four sources, ByteDance, the company that owns TikTok, would rather pull the plug on its money-losing app than sell it if they run out of legal options to fight against legislation banning TikTok from U.S. app stores. These sources, who are close to the parent company, mentioned that the algorithms essential for TikTok's functioning are integral to ByteDance's broader operations, making it highly improbable for them to sell the app along with its algorithms.

Men Don’t Work Like They Use Too

Back in the early 1950s, nearly all prime working-age men, 96% actually. Those between 25 and 54, were employed, but today that figure has dropped to around 86%. This decline stems from various factors, both positive and negative.

One significant influence is the impact of economic downturns. Whenever the U.S. has faced a recession since the 1950s, it has tended to leave a lasting mark on male employment rates. Even when the economy rebounds, certain job sectors may not fully recover, leading to fewer opportunities and lower wages, particularly affecting men who historically dominated the workforce.

Moreover, societal changes and challenges like disabilities, addiction, and even incarceration have played a role in diminishing male participation in the workforce. The rise in disability benefits recipients and the opioid epidemic are notable contributors to this trend, alongside shifts in job requirements and opportunities, as well as evolving family dynamics such as the rise of stay-at-home dads.

Upcoming Earnings

This upcoming week promises a flurry of activity in the financial world as major players in various sectors prepare to unveil their earnings. These companies are not just household names; they represent pivotal sectors that shape our economy and consumer behavior. From the resilience of fast-food chains like Domino's Pizza to the technological innovations of companies like Apple, each earnings report offers valuable insights into the current state and future trajectory of its respective industry. Here's a breakdown of the key earnings to watch each day:

• Domino's Pizza (DPZ): Kickstarting the week, Domino's Pizza is expected to disclose figures that could indicate how fast-food chains are adapting in a post-pandemic economy. Analysts are keeping a close watch on Domino's digital ordering systems and international expansion as key drivers of growth.

• Coca-Cola (KO): Coca-Cola steps into the earnings spotlight on Tuesday. Coca-Cola’s performance often mirrors consumer trends worldwide. Investors will particularly note the impact of inflation on product pricing and consumption habits.

• Mastercard (MA): Midweek brings Mastercard into focus. In a digital age where contactless transactions are becoming the norm, Mastercard’s earnings will reflect not only spending patterns but also the pace of economic recovery and the adoption of digital finance solutions across the globe.

• Apple (AAPL): On Thursday, all eyes will be on Apple. Apple’s earnings could provide critical insights into the tech sector's health and consumer electronics demand, including the performance of its latest iPhone models and subscription services.

• Brookfield Renewable Partners (BEP): Ending the week, Brookfield Renewable Partners, a leader in the green energy sector, reports its earnings. As global focus intensifies on sustainability, BEP's results will offer perspectives on the growth of renewable energy adoption and the infrastructure supporting it.

This Week's Key Earnings Snapshot

Key Takeaways:

This week's high-profile earnings reports offer crucial insights into diverse sectors, from fast-food adaptability to tech resilience and sustainable energy growth. Investors should keep a close eye on key metrics such as revenue growth, product performance, and market forecasts. For instance, strong revenue growth in fast-food chains like Domino's Pizza could signal consumer confidence and changing dining habits post-pandemic. Similarly, tech giants like Apple may provide valuable insights into consumer demand for electronics and subscription services, indicating broader market trends. Meanwhile, earnings from companies like Brookfield Renewable Partners can shed light on the momentum behind sustainable energy investments and the global shift towards renewable resources.

Tech

Apple's AR/VR Ambitions Fizzle

The Unraveling of the Apple Vision Pro

Apple took a leap just two months ago and launched an entire brand new product category for the company with the release of the Apple Vision Pro. In the days and weeks after its February release, Apple's new AR/VR headset was the talk of social media. Tech reviewers raved about how using it was a glimpse into the future of home computers. And the Apple Vision Pro memes were in abundance. Who can forget the guy who wore an Apple Vision Pro at his wedding?

However, enthusiasm quickly faded, and consumers aren't rushing to purchase the $3,499 headset. Analysts, including prominent figure Ming-Chi Kuo, have downgraded shipment expectations for 2024 by up to 50%. This downward revision suggests that initial sales projections were overly optimistic. The steep price point likely deterred many potential buyers, limiting the product's appeal. Moreover, interest in the Apple Vision Pro dwindled rapidly after its launch, indicating a lack of sustained consumer engagement. Even at the high-profile launch event, attendance was underwhelming, with few showing genuine interest in purchasing the device.

Meanwhile, Meta, formerly known as Facebook, faces its own challenges with a more than 10% drop in stock value driven by disappointing performance in its Metaverse ventures. Despite reporting strong quarterly earnings, Meta's share price plummeted due to concerns over future revenue projections. These developments underscore the complexities and uncertainties surrounding emerging technologies and their commercial viability in today's market.

New to Augmented Reality / Virtual Reality? Check out this Video

Sports

A Surprise Filled NFL Draft

A Couple 1st Rd QBs Stun The NFL World

I think everyone collectively let out a “huh” when the Atlanta Falcons took Michael Penix Jr. at with the 8th pick. They just paid Kirk Cousins a whole lotta money to be their QB for the next 4 years. How this will play out will be interesting to say the least. I personally think Penix was the best QB in this class, but the Falcons move is still a head scratcher.

J.J. McCarthy to Minnesota at 10, listen I know the hype train has been building behind this guy. He’s a winner, got himself a National Championship, he was consistent, made good decisions, a lot to like. Important to note, he had the best line in college football pretty much his whole career, a run game that made the 90’s Cowboys jealous, and threw for less than 220 yards per game last season. He may be a great NFL qb, but it feels like a reach in the 1st round, let alone at 10.

You can find the full Draft Results and Analysis at NFL.com

NHL Playoff Weekend Wrap-Up

The NHL playoffs continued with emotion over the weekend, producing memorable performances and crucial game developments. Here are the key highlights:

Colorado Avalanche Triumphs Over Winnipeg Jets:
Valeri Nichushkin was the hero for Colorado, scoring three goals, including an empty-netter, to complete his hat trick and lead the Avalanche to a decisive 5-1 victory over the Winnipeg Jets in Game 4. This win puts the Avalanche up 3-1 in the series. Nichushkin's performance was supported by Nathan MacKinnon's two assists, while goaltender Alexandar Georgiev bolstered the defense, saving 26 of 27 shots. The series has seen Colorado gaining momentum, demonstrating their offensive prowess and tight defense​ (ESPN)​​ (Yahoo Sports)​.

Vancouver Canucks' Goalie Shift:
In a pivotal move for the Vancouver Canucks, rookie Arturs Silovs stepped in as the starting goalie against the Nashville Predators for Game 4 after injuries sidelined Thatcher Demko and Casey DeSmith. Silovs, coming off a strong season in Abbotsford and a handful of promising games with Vancouver, faced the immense challenge of playoff pressure. His performance could be crucial for the Canucks as they look to leverage their home-ice advantage​ (ESPN)​​ (Yahoo Sports)​.

Maple Leafs Struggle Against Bruins:
The Toronto Maple Leafs fell 3-1 to the Boston Bruins in a critical Game 4. James van Riemsdyk, Brad Marchand, and David Pastrnak scored for the Bruins, helping to secure a substantial lead by the second intermission. Despite Mitch Marner scoring late in the third period, the Maple Leafs could not overcome the deficit. The Bruins' defensive play and effective special teams were pivotal in their victory. Additionally, William Nylander returned to the Maple Leafs lineup, boosting the team's offensive capabilities​ (ESPN)​​ (Yahoo Sports)​.

Brad Marchand Sets Bruins Record:
Brad Marchand continued to make his mark, setting the record for most playoff goals in Bruins history. His performance not only contributed significantly to the Bruins' win but also solidified his legacy within the team. Marchand's ability to influence both the scoreline and the flow of the game has been a standout aspect of his play throughout the series​ (ESPN)​​ (Yahoo Sports)​.

Lightning's Strong Start Against Panthers:
The Tampa Bay Lightning delivered a robust performance to beat the Florida Panthers 6-3, avoiding elimination in Game 4. Key players like Steven Stamkos and Brandon Hagel scored crucial goals, with Stamkos marking his 100th career playoff point during the game. This win kept the Lightning's hopes alive, pushing the series further as they look to mount a comeback​ (ESPN)​​ (Yahoo Sports)​.

As we head into the next round of games, these key moments and player decisions will undoubtedly influence the outcomes as teams battle for a spot in the Stanley Cup Finals.

Entertainment

Blackstones Coming For Your Music

Our Houses Weren’t Enough

Private equity giant Blackstone is gearing up to make a stronger offer for Hipgnosis Songs Fund, according to a report from Sky News. This move from Blackstone is set to surpass the bid from independent music company Concord, which stands at $1.25 per share.

This development follows Concord's recent increase in its bid for Hipgnosis to $1.25 per share, slightly edging out Blackstone's previous offer of $1.24. Should Blackstone's bid succeed, it would mean the addition of over 65,000 songs, including tracks by artists such as Red Hot Chili Peppers and Neil Young, to its already substantial portfolio, which includes music by Justin Bieber and Justin Timberlake.

The battle for control of Hipgnosis comes amidst the fund's strategic review initiated last year, following a shareholder vote against its continuation. This led to significant changes in the board and a reassessment of its portfolio, all under the leadership of industry veteran and former CEO Merck Mercuriadis since its establishment in 2018

Weekly Commute

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