To The Moon

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Nvidia $NVDA reported Q4 revenue of $39.3 billion, surpassing estimates of $38 billion, while Blackwell chip revenue hit $11 billion, far exceeding the expected $9 billion. EPS came in at $0.89, beating projections of $0.85. CEO Jensen Huang highlighted explosive demand for Blackwell, stating, "Increasing compute for long thinking makes the answer smarter." Nvidia is guiding for a massive $43 billion in Q1 revenue, $1 billion above Wall Street’s expectations. For FY24, Nvidia posted $72 billion in profit, up 145% YoY, with a 55% net income margin and $7.8 billion in stock buybacks. CEO Jensen Huang also confirmed that Blackwell Ultra remains on track for a second-half 2025 launch, following the company’s annual release cycle. While the initial Blackwell rollout faced delays, it has now fully recovered. Unlike the Hopper-to-Blackwell transition, Blackwell Ultra will integrate seamlessly into existing architectures, reducing disruptions for customers. NVIDIA is already preparing partners for its next-gen architecture, Vera Rubin, which will follow Blackwell Ultra. $NVDA was down 2% after earnings.

2. $PLTR Palantir CEO Alex Karp’s latest book, The Technological Republic, has just been named the No. 1 bestseller by The New York Times. The book is sparking a debate on technology’s role in shaping Western values, as Karp’s message gains traction with the public. The Wall Street Journal described it as “a cri de coeur,” while the Financial Times called it “fascinating, if at times disturbing.” With its growing influence, The Technological Republic is driving conversations about the intersection of technology, ethics, and governance in the modern world.

3. A Florida appeals court ruled in favor of Tesla $TSLA, limiting the damages it may face in a wrongful death lawsuit over its Autopilot system. The 4th District Court of Appeal in Palm Beach overturned a 2023 decision, blocking the jury from awarding punitive damages and restricting Tesla’s liability to compensatory damages in the case filed by the estate of Jeremy Banner. Separately, Tesla’s Cybertruck won MotorTrend’s 2025 Best Tech award for its chassis technology, specifically its steer-by-wire system. MotorTrend praised Tesla for “fundamentally reimagining rack-and-pinion steering,” allowing the 6,900-pound stainless-steel truck to move with uncanny agility. These developments highlight both Tesla’s legal victories and its continued innovation in vehicle technology. Tesla $TSLA reached a new low for 2025 today at $287.

4. $HOOD Robinhood officially closed its acquisition of TradePMR on February 26, 2025, for approximately $300 million, with 60% in cash and 40% in stock-based compensation. TradePMR manages around $43 billion in assets as of January 31, 2025. Robinhood expects the deal to be immediately accretive to Adjusted EBITDA. In 2025, Robinhood will record $85 million in related costs, including $45 million in operating expenses and $40 million in share-based compensation. These costs cover business operations, product development, professional fees, and purchase price amortization. $HOOD was up 8%.

5. Elon Musk attended President Trump’s first cabinet meeting of his second term at the White House on February 26, 2025, despite not being an official cabinet member. Trump praised Musk’s work as head of the Department of Government Efficiency (DOGE), emphasizing his cost-cutting initiatives and efforts to reduce the federal deficit. Musk, wearing a "Tech Support" t-shirt and a MAGA cap, defended DOGE’s controversial policies, including requiring federal employees to submit performance reports or risk termination. While Musk’s presence sparked criticism due to his unelected status, the administration framed his role as essential in eliminating waste and inefficiency. The meeting also covered topics like a “gold card” visa for wealthy immigrants, foreign tariffs, and Ukraine negotiations, but Musk’s focus remained on streamlining government operations.

6. Snowflake $SNOW reported EPS of $0.30, beating estimates of $0.18, with revenue reaching $986.8M, surpassing the expected $957.09M and growing 27% YoY. Product revenue hit $943.3M, up 28% YoY, while the net revenue retention rate remained strong at 126%. Q1 FY26 guidance projects product revenue between $955M-$960M, reflecting 21-22% YoY growth, with an adjusted operating margin of 5%. Key metrics showed remaining performance obligations at $6.9B (+33% YoY) and 580 customers generating over $1M in trailing 12-month revenue (+27% YoY). CEO Sridhar Ramaswamy highlighted Snowflake's expanding AI capabilities, including a partnership with Microsoft to integrate OpenAI models into Snowflake Cortex AI, reinforcing its leadership in data and AI innovation. $SNOW was up 9% after the earnings.

7. Sales of new single-family homes fell 10.5% MoM to a seasonally adjusted annualized rate of 657,000, missing expectations of 680,000 and marking a three-month low. Persistently high mortgage rates and severe weather conditions, particularly in the South, weighed on demand. Regionally, sales declined in the South (-14.8%), Midwest (-16.7%), and Northeast (-20%), while the West was the only region to see growth (+7.7%). The median sales price stood at $446,300, with an average price of $510,000. Housing inventory reached 494,000 units, representing 9.0 months of supply at the current sales pace.

8. YouTube $GOOGL has surpassed 1 billion monthly podcast viewers, solidifying its dominance in video-first podcasting. Over the past year, users watched more than 400 million hours of podcast content on TV, reflecting its growing influence in the industry. While Spotify $SPOT is expanding its video podcast offerings to compete, YouTube maintains a strong lead with its ad revenue-sharing model and upcoming mid-roll ad updates launching on May 12. With seamless integration across video and audio formats, YouTube continues to outpace Spotify and Apple, reinforcing its position as the go-to platform for podcast consumption. $GOOGL hit a 2025 low today of $172.

9. Salesforce $CRM reported Q4 adjusted EPS of $2.55, missing estimates of $2.61, while revenue reached $10.0B, slightly below the $10.05B estimate but up 8% YoY. Q1 revenue guidance of $9.71B-$9.76B fell short of the expected $9.91B, reflecting a 6%-7% YoY increase. For FY26, revenue guidance of $40.5B-$40.9B also missed expectations ($41.36B), though operating margin improved to 34% from 33%. Strong cash flow metrics stood out, with operating cash flow up 28% YoY to $13.1B and free cash flow up 31% YoY to $12.4B. CEO Marc Benioff highlighted record cash flow and a $60B+ RPO, while CFO Amy Weaver emphasized profitable growth and $21B returned to shareholders since the capital return program began. $CRM was down 5% after earnings.

10. Amazon $AMZN has given Alexa its most significant upgrade since launch, integrating generative AI to enhance its capabilities. The revamped Alexa now supports real-time conversations, ticket booking, restaurant reservations, and smart texting, making interactions more seamless and intuitive. This upgrade is designed to bring Alexa closer to ChatGPT-level responsiveness, significantly improving user experience. CEO Andy Jassy stated that Alexa usage has jumped 20% YoY in 2024, emphasizing that Amazon is investing more in AI than any other company. With these advancements, Amazon aims to position Alexa as a more competitive and versatile AI assistant in the evolving smart assistant landscape.

11. Attorney General Pam Bondi announced that the "Epstein Files" will be released tomorrow.

12. Today President Trump addressed questions about tariffs, stating that 25% tariffs will be announced "very soon" and claiming that the EU "was formed to screw the U.S." He confirmed that the tariffs would apply broadly, with a focus on car imports, and reiterated that tariffs on Mexico and Canada will begin on April 2nd, a day later than previously expected. The planned tariffs include 25% on Canada, Mexico, and the EU, 10% on China, and a potential 100% tariff on BRICS nations. Markets, which had hoped Trump’s deal with Canada and Mexico would last indefinitely, may now have to price in higher inflation expectations. Even with these announcements today, the $DXY was slightly up but still below $107 & the 10-yr treasury yield came down to 4.275%, significantly below the 4.8% yield from two months ago. While markets may have to price in higher inflation, spending cuts from DOGE and general weakness in the economy may be influencing bond holders to secure their yields by purchasing bonds which could be pushing yields down.

WALL STREET IS THE GREATEST SHOW ON EARTH.