DHUnplugged Podcast

Let’s Make a Deal! News Dominated by … SpaceX This week – Fed rate Decision Need a new CTP (SPACEX?) PLUS we are now on Spotify and Amazon Music/Podcasts! See this week’s stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter

Good overall earnings season – still going strong Economic reports show a mixed picture – but still good enough Semi-annual earnings report option gaining steam Saying goodbye to Spirit Airlines Markets PLUS we are now on Spotify and Amazon Music/Podcasts! See this week’s stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz […]

All-time highs – SP500 up 9% MTD – NAS100 even more Balanced risk – up or down from here is evenly matched All tech right now (Example Monday Equal Weighted up 0.33%, SP500 down 0.35%) Worried about No More Mr. Nice Guy The new “Blockchain” , “SPAC”, “MEME” that is pushing stocks PLUS we are […]

NEW CTP for IBIT Under/Over – Looks like the OVER Presidential PARDONS and A King’s EVICTION All Excited – Making headway on the Deficit ! PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter   Warm-Up - NEW CTP for IBIT - Under/Over - Looks like the OVER - Presidential PARDONS and A King's EVICTION - All Excited - Making headway on the Deficit ! Markets - DJIA hits new ATH - after big moves last week - Buyers stepped in (again) - NASDAQ - lagging as AI trade is questioned - THEREFORE - what is happening is a simple rotation again - ALL IN! Just back from a wedding in NJ - Did some Apple picking, hot cider and donuts! Pardon Me... - President Donald Trump has pardoned a long list of his political allies for their support or involvement in plans to overturn the 2020 presidential election, according to the Department of Justice’s Pardon Attorney, Ed Martin. - Several others (20+) were pardoned as well including some that plead guilty. Over the Pond - King Charles III on Thursday stripped his disgraced brother Prince Andrew of his remaining titles and evicted him from his royal residence after weeks of pressure to act over his relationship with sex offender Jeffrey Epstein, Buckingham Palace said. - After the king’s rare move, which follows years of shameful scandals, he will be known as Andrew Mountbatten Windsor and not as a prince, and he will have to vacate his Royal Lodge mansion near Windsor Castle. Debt - The U.S. government’s gross national debt surpassed $38 trillion Wednesday, a record number that highlights the accelerating accumulation of debt on America’s balance sheet. - It’s also the fastest accumulation of a trillion dollars in debt outside of the COVID-19 pandemic — the U.S. hit $37 trillion in gross national debt in August this year. - “During his first eight months in office, President Trump has reduced the deficit by $350 billion compared to the same period in 2024 by cutting spending and boosting revenue,” White House spokesman Kush Desai said in a statement, adding that the administration would pursue robust economic growth, lower inflation, tariff revenue, lower borrowing costs and cuts to waste, fraud and abuse. - Petersen Foundation: “Along with increasing debt, you get higher interest costs, which are now the fastest growing part of the budget,” Peterson added. “We spent $4 trillion on interest over the last decade, but will spend $14 trillion in the next ten years. Interest costs crowd out important public and private investments in our future, harming the economy for every American.” - Debt Growing by $69,000 per second over the the past year... Stock New - BIG Softbank - Softbank sells entire stake in NVDA - $5.83 Billion - To soften the blow, they said that it as because they are using it to redeploy further into AI - OpenAi to be specific - Also sold part of T-Moblie and using margin loan against ARM to fund the $22.5 BILLION investment in OpenAI - “This should not be seen, in our view, as a cautious or negative stance on Nvidia, but rather in the context of SoftBank needing at least $30.5bn of capital for investments in the Oct-Dec quarter, including $22.5bn for OpenAI and $6.5bn for Ampere,” Rolf Bulk, equity research analyst at New Street Research, told CNBC. - IMPORTANT SO MARKETS DO NOT GET SPOOKED: ?[SoftBank] made a point of saying that it wasn’t any view on NVIDIA. ... At the end of the day, they are using the money to invest in other AI related companies,” he said. Coreweave Earnings - The provider of infrastructure for artificial intelligence companies, reported better-than-expected third-quarter revenue on Monday, but the company delivered disappointing full-year guidance. - The company reported a net loss of $110 million, narrowing from about $360 million in the same quarter last year. - Problem at one of their data centers - basically they are not up and running at potential - Stock dropped 15% (Stock ran up to $185 in June and now at $88 MasterCard and Visa -  Visa and Mastercard announced a revised $38 billion settlement with merchants who accused the card networks of charging too much to accept their credit cards, hoping to satisfy a judge who rejected a smaller accord as inadequate. - Monday's settlement would end 20 years of litigation in which businesses accused Visa, Mastercard and banks of conspiring to violate U.S. antitrust laws, including through the card networks' collection of "swipe fees." - The settlement calls for Visa and Mastercard to lower swipe fees, which averaged 2.35% in 2024 and typically range from 2% to 2.5%, by 0.1 percentage point for five years. -- Retail Merchants Associations still not happy about this... - Merchants would also get more options to impose surcharges when people pay by card, including an "unfettered" ability to charge up to 3%, according to a court filing. - STILL they charge 20%-35% (The highest variable rate advertised for a specific card is 36% on the First PREMIER® Bank Mastercard Credit Card.) A Head Scratcher - OpenAI CEO Sam Altman said Thursday that the artificial intelligence startup is on track to generate more than $20 billion in annualized revenue run rate this year, with plans to grow to hundreds of billions in sales by 2030. - The company has inked more than $1.4 trillion of infrastructure deals in recent months to try and build out the data centers it says are needed to meet growing demand. - Question: It is almost impossible for companies with a long track record, stable business and known clientele to project out one year as things change so fast in the economy. How can a recent startup with new technology that is unknown the use in the future project out 5 years? Tesla - The vote is in and Elon got his pay package! - Update: Elon Musk is the richest person in the world as of November 2025, with a net worth that has approached and briefly crossed $500 billion Economy K Shape - U.S. consumer sentiment slumped to near a 3-1/2-year low in early November as households across the political spectrum worried about the economic fallout from the longest government shutdown in history, which has caused disruptions ranging from food benefit payments to grounded flights. - The current level is closing on on the worst in 20 years - Democrats are really in the dumps, while Republicans are upbeat (91 vs 33)  - High earners happy - lower earnings very unhappy. - For the economy? Consider that the top 20% of households by income drive 40% of consumer spending Employment - Job cuts for October totaled 153,074, a 183% surge from September and 175% higher than the same month a year ago. - It was the highest level for any October since 2003 and has been the worst year for layoffs since 2009. - Challenger reports the highest level of layoffs coming from the technology sector amid a time of restructuring due to AI integration. Companies in the sector announced 33,281 cuts, nearly six times the level in September. - In total, companies have announced 1.1 million cuts this year, a 65% increase from a year ago and the highest level since the Covid pandemic year of 2020. Rate Cuts? - Miran says half-point cut ‘appropriate’ for December, but Fed should at least reduce by a quarter point (What a tool!) - “If you’re making data for what, if you’re making policy for what the data are now, you are backward looking, because it will take 12 to 18 months for that to hit the economy. So you need to make policy now based on where you think the economy is going to be a year to a year and a half from now.” - SOOOOOO - he thinks the economy is slowing over the next 12-18 months? Doesn't that conflict with how great Kevin Hasset Even so.....Can't be all bad... - Levi's will sell its new line of $300 jeans in more stores next year as it looks to boost growth by tapping into strong demand for premium denim, Chief Financial and Growth Officer Harmit Singh told Reuters. - Launched in Asia earlier this year, and in around two dozen stores in Europe and the U.S. since September, the Blue Tab range of higher quality jeans and shirts is part of an ongoing push to broaden the Levi's brand and attract more women. - In Europe, Blue Tab jeans sell for between about 250 and 350 euros ($290-410), compared with between 70 and 130 euros for its Red Tab line. Blue Tab jackets sell for around 700 euros. EV Hangover - Ford Motor is reportedly considering permanently ending production of its all-electric F-150 Lightning pickup truck amid mounting losses and more challenging market conditions for EVs. - Ford's President, when asked last month by media about Lightning production potentially ending, said the company’s main priority was gas-powered models. - F-150 Lightning sales this year through October are roughly level compared with a year earlier at only 24,577 units. Since going on sale in 2022 in the U.S., Ford has sold less than 100,000 F-150 Lightning models. SAD NEWS - A 208-year-old publication that farmers, gardeners and others keen to predict the weather have relied on for guidance will be publishing for the final time. - Farmers' Almanac said Thursday that its 2026 edition will be its last, citing the growing financial challenges of producing and distributing the book in today's “chaotic media environment.” Access to the online version will cease next month. - The Maine-based publication, not to be confused with the even older Old Farmer’s Almanac in neighboring New Hampshire, was first printed in 1818. For centuries, it's used a secret formula based on sunspots, planetary positions and lunar cycles to generate long-range weather forecasts. Bad News For Stock Insiders? - Nancy Pelosi said she will not seek reelection to Congress. - Pelosi, 85, has served in the House for nearly four decades, presiding over the passage of major legislation and serving as a leading opposition figure against President Donald Trump. Thoughts? - A U.S. appeals court on Tuesday cleared the way for Florida to enforce a law restricting real estate and land purchases by Chinese citizens, rejecting claims it violates federal law and discriminates against Asians. - The law prohibits individuals who are "domiciled" in China and are not U.S. citizens or green card holders from purchasing real estate or land in Florida. It allows non-tourist visa holders and asylum recipients to purchase a single residential property as big as two acres that is at least five miles (8 km) from any military installation. - Republican Governor Ron DeSantis said when he signed the law in 2023 that it would help protect Americans from the influence of the Chinese Communist Party. More China - Apple has confirmed that it removed the popular gay dating apps Blued and Finka from its Chinese iOS store in compliance with an order from the Cyberspace Administration of China. - “Based on an order from the Cyberspace Administration of China, we have removed these two apps from the China storefront only,” the company said, though they clarified that the apps had already been unavailable in other countries. - Grindr, a popular gay dating app from the U.S., was removed from the iOS store in 2022, days after the Cyberspace Administration of China began a crackdown on content it considered illegal and inappropriate. Love the Show? Then how about a Donation? ANNOUNCING A NEW CTP iShares Bitcoin Trust ETF (IBIT) Winners will be getting great stuff like the new "OFFICIAL" DHUnplugged Shirt!   FED AND CRYPTO LIMERICKS   See this week’s stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter

Supreme Court Ruling on tariffs within weeks…. Say goodbye to the penny! November heading for a potential fall. Splits – Are they back? PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter NEED A NEW CTP - How About a Crypto ETF? (IBIT) INTERACTIVE BROKERS Warm-Up - Supreme Court Ruling on tariffs within weeks.... - Say goodbye to the penny - November heading for a potential fall - Prediction - When will US Government Reopen - New Term - AI Washing Markets - OpenAI - even more deals - Palatir Earnings - Serepta FLOP -AMAZON BLOWOUT - Splits - Are they back? Election Day - Updates? The SAME Stories are making their way around - Seasonally good time for equities - Don't fight the Fed - Earnings trend - Buybacks again Under/Over on When US Government Opens - November 10th - Under/Over? November Outlook - On the heels of a good October... - Question: How much more is in the tank for blowouts? Earnings season is about over and what are other catalysts - Aside from Santa? - More NVDA excitement? More OpenAi deals??? - So much good news is priced in it is hard to imagine HUGE upside AI Washing - AI washing is a deceptive marketing tactic where companies exaggerate or falsely claim to use artificial intelligence in their products to appear more innovative and advanced. - It is also used when layoffs occur to say that there is less need for employees due to advances in technology. - Corporate giants Amazon, UPS and Target each announced layoffs in recent weeks totaling more than 60,000 jobs cut this year. Amazon - Great earnings - stock up HUGE to ATH ater the report - Amazon beats by $0.38, beats on revs; guides Q4 revs in-line - Reports Q3 (Sep) GAAP earnings of $1.95 per share, $0.38 better than the FactSet Consensus of $1.57; revenues rose 13.4% year/year to $180.17 bln vs the $177.91 bln FactSet Consensus. - Co reports Q3 operating income, excluding items, of $21.7 bln vs prior guidance of $15.5-20.5 bln. - North America segment sales increased 11.2% yr/yr to $106.27 bln. - International segment sales increased 14.0% yr/yr (+10% CC) to $40.90 bln. - AWS segment sales rose 20% yr/yr (+20% CC) to $33.01 bln. - Advertising Services rose 24% yr/yr (+22% CC) to $17.70 bln. - Co issues in-line guidance for Q4, sees Q4 revs of $206-213 bln vs. $208.41 bln FactSet Consensus. Co guides to Q4 operating income of $21-26 bln. OpenAi and Amazon - OpenAI has signed a $38 billion deal with Amazon Web Services, and will immediately start accessing Nvidia’s graphics processing units. - This is one of OpenAI’s biggest moves away from Microsoft, which was the company’s exclusive cloud provider until earlier this year. - The partnership gives OpenAI the flexibility to scale infrastructure through 2026 and beyond. - Under the agreement announced on Monday, OpenAI will immediately begin running workloads on AWS infrastructure, tapping hundreds of thousands of Nvidia’s graphics processing units (GPUs) in the U.S., with plans to expand capacity in the coming years. - Amazon up another 5% Palantir Earnings - Palantir Technologies prelim Q3 $0.21 vs $0.17 FactSet Consensus; revs $1.18 bln vs $1.09 bln FactSet Consensus - Palantir Technologies sees Q4 revs $1.327-1.331 bln vs $1.18 bln FactSet Consensus - Stock up slightly - been on a rager lately.... ATH - Stock down 8% on Tuesday - most of the good news is priced in? AMD Earnings - Advanced Micro Devices beats by $0.03, beats on revs; guides Q4 revs above consensus (250.05 -9.60) - Reports Q3 (Sep) earnings of $1.20 per share, $0.03 better than the FactSet Consensus of $1.17; revenues rose 35.6% year/year to $9.25 bln vs the $8.76 bln FactSet Consensus. - On a non-GAAP basis, gross margin was 54%, operating income was $2.2 billion, net income was $2 billion and diluted earnings per share was $1.20. Our third quarter results did not include any revenue from shipments of AMD Instinct MI308 GPU products to China. - Co issues upside guidance for Q4, sees Q4 revs of $9.3-9.9 bln vs. $9.21 bln FactSet Consensus. Non-GAAP gross margin is expected to be approximately 54.5%. - Down 3% after hours Netflix - Announces a 10-1 split - Commentators are all a flutter about this - so good for the small investor - ARE THEY THAT STUPID? - Example NFLX shares at $1,100 - does that preclude someone that has $250 from buying?????? ==== NO! Partial share ownership is available with most brokerages... Supreme Court dealing with Tariffs - Lower courts ruled that Trumps use of tariffs are not lawful. - Latest tirade against Canada is not a good showing for the "national security" use of tariffs - U.S. Treasury Secretary Scott Bessent said he expects the Supreme Court to uphold the IEEPA-based tariffs. ----> But if it strikes down the tariffs, Bessent said in an interview, the administration will simply switch to other tariff authorities, including Section 122 of the Trade Act of 1974, which allows broad 15% tariffs for 150 days to calm trade imbalances. --- So they are not really national emergencies, just a Presidential authority that they will try to fit into a standing power? ----LET'S JUST SAY WHAT IT IS..... PUNITIVE MEASURES FOR FUN INTERACTIVE BROKERS Check this out and find out more at: http://www.interactivebrokers.com/ China "Deal" - After a careful review - China won that match by a mile - China buying soybeans, says they will try to stop Fentanyl (U.S. reduced tariffs on that) and less restrictive rare earth exports out of China.... - So, what do we have ? Maybe a benefit to the farmers, nothing gained otherwise... - They checkmated us with the Rare Earths... - Not a deal - nope... Please do not call it a deal.... - EXACTLY THE SAME AS TRUMP 1.0 on this one... Headcounts - Several companies are talking about layoffs. - Amazon 10k - 30k - META (small) - Now the discussion is turning to WHY - AI or consumers? - Big story-line is the excess buildup post COVID and fear by companies that employees were scarce - that is changing. - On the other hand - Microsoft is hiring Singularity  - Microsoft AI chief Mustafa Suleyman says only biological beings are capable of consciousness, and that developers and researchers should stop pursuing projects that suggest otherwise. - “I don’t think that is work that people should be doing,” Suleyman told CNBC in an interview this week at the AfroTech Conference in Houston, where he was among the keynote speakers. “If you ask the wrong question, you end up with the wrong answer. I think it’s totally the wrong question.” - Thoughts??? Say goodbye to the Penny - US no longer makes pennies - Retailers are worried about profits if they cannot provide, they may have to round up to a nickle when they make change for a transaction - In fact there is some panic about this it appears.... - Why can't a place just round to the nickle on the sale?????? Seems simple (they pass on other costs to consumers all the time) NEED HELP! - Watching TV and a Bombardier commercial for one of their jets comes on.. - Fastest private airplane in the world -Global 8000 - "See a dawn that never ends" (If I am flying into the dawn EAST, as they show in the commercial, on a very fast plane - Dawn is quick and over.) - See a sunset that never ends... isn't that a more truthful and better line? Morgan Stanley AND Goldman CEOS -  Tag Team - Talking about how a correction could be coming - Can they create corrections with their comments? - All about perception, outlook and confidence...... Serepta - Nice Bounce... Then: - Sarepta Therapeutics (SRPT) plunged 40% after its late-stage Duchenne trial failure and weak sales overshadowed a slight earnings beat. -Q3 2025 revenue fell 15% year-over-year, driven by lower ELEVIDYS sales and ongoing restructuring efforts, despite steady demand for its PMO portfolio. Shein - Child like Sex Dolls on their site - After France's consumer watchdog found sex dolls resembling children for sale on Shein's platform, finance minister Roland Lescure threatened on Monday to block Shein's access to the French market if it ever sold such dolls again. - France is working on fast fashion law that may crimp Shein sales - so this is a way for France to go after competition with its fashion firms. - Shein is supposed to be opening outlets in several malls and stores in France New Financial Hub - Y'All Street? - Financial services firms have increased their presence in the state of Texas in recent years as they diversify their strategic footprint beyond the traditional financial hub of New York City's Wall Street. - Meanwhile: Greg Abbott Threatens ‘100% Tariff’ On New Yorkers Moving to Texas   Love the Show? Then how about a Donation? THE WINNER of The Closest to The Pin for Lithium Americas (LAC)    Winners will be getting great stuff like the new "OFFICIAL" DHUnplugged Shirt!   FED AND CRYPTO LIMERICKS   See this week’s stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter