Blog - Mid-Week Stockbits July 17th, 2019

Mid-Week Stockbits July 17th, 2019

Jul 17, 2019

Amazon Prime Day:

It’s no secret that Amazon Prime Day (Days? It is two days after all) took place over the 15th and 16th July. Amazon (AMZN) supposedly surpassed sales for last year’s Black Friday and Cyber Monday combined, with customers buying over 175 million items. However Prime Day not only spiked sales for Amazon, large retailers saw sales rise 68% over these two days, with smaller retailers showing a 28% increase.

It’s not all sunshine and rainbows for Amazon though, as warehouse workers walked out on the company on Prime Day to protest the inhumane conditions. Makes you wonder how much higher sales could have been had customers not joined in the protest and boycotted supporting Amazon over the two day shopping event.

VW-Ford EV Alliance:

Volkswagen (VLKAF) and Ford (F) have struck a deal to collaborate their efforts on self-driving electric vehicles. This agreement mutually benefits both parties as neither are in direct competition in the auto industry with one another, while the partnership also gives them a larger presence in the electric vehicle market. This all while Tesla (TSLA) has announced they are lowering the cost of their new Model 3 which begins production this year. Coincidence? Or is Tesla feeling the heat? Which leads us to our next point...

Earnings:

The Model 3 price cut comes ahead of Tesla’s second-quarter earnings report next week. First-quarter earnings showed Tesla suffered a larger than expected loss and less revenue than anticipated. Whether these price cuts will help Tesla rebound remains to be seen.

Additionally, Microsoft (MSFT), IBM (IBM), eBay (EBAY) and Netflix (NFLX) are all set to release their Q2 reports after the market closes today. These are just some of the major companies releasing their earnings report this week.

Siyata Secures US Revenue:

Siyata Mobile (SIM.V) has made a splash this week, receiving two separate purchase orders valued at $925,000 and $700,000. Siyata’s In-vehicle device is designed specifically for commercial vehicle use ensuring a safe and effective communication device for professional drivers.

The $925,000 purchase order marks the companies first US purchase order for its 4G/LTE Uniden® UV350 in-vehicle device after signing their agreement with AT&T (T). These devices will be equipped in a single end-use customers fleet of yellow school buses.

The second purchase order of $700,00 comes from a second single end-use customer to equip their mobile workers and vehicles with UR7 rugged handsets and CP250 in-vehicle device for a national railway company in Israel.