🦢 Disney Scraps $1B Florida Plan?

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Welcome to the Black Swan Street newsletter, the only newsletter that makes you feel as if you just hit the lottery - cha ching! 💰

This is what we got for you this week:

• Stock Market Summary 🦢

• Disney Scraps $1 Billion Florida Plan 🏰

• Other News In The Stock Market 🌎

• Next Week In The Stock Market 🔮

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Stock Market Summary 🦢 

How Did the Market Perform This Week:

Earnings Summary This Week:

Best Performing Large Cap Stocks This Week:

Worst Performing Large Cap Stocks This Week:

Disney Scraps $1 Billion Florida Plan 🏰

Disney had plans to build an entirely new $1 billion campus in Florida, 20 miles from the Walt Disney World theme park resort, and would eventually relocate 2,000 employees from California to work at this new location.

Where is this plan now? In the trash 🗑

The decision to ultimately not follow through is a result of the escalating feud between Disney and the state’s government, which is headed by Ron DeSantis.

DeSantis called this change of decision “unsuprising”.

You can think whoever you want is right in this situation, but one thing is for certain: This is a huge hit to Florida’s economy. This project could’ve brought monetary flow, jobs, and economic growth to the state.

Other News In The Stock Market 🌎

• Ford seen laying off 1,300 workers in China - BBG

• Vice Media files for bankruptcy - CNBC

• Heico to buy aircraft aftermarket company Wencor in $2.1 billion deal - YF

• Activist investor Engaged Capital plans proxy battle at Shake Shack - RT

• ONEOK to acquire Magellan Midstream Partners in deal worth $18.8 billion - YF

• EU approves Microsoft’s $69 billion acquisition of Activision Blizzard - CNBC

• Sharpie and Paper Mate parent Newell Brands stock dives toward 14-year low after dividend slashed by 70% - MW

• U.S. business inventories fall 0.1% in March - RT

• Buffett buys stake in Capital One, sells other banks

• Retail sales rose 0.4% in April, less than expected - CNBC

• Homebuilder sentiment jumps to highest levels since July - FB

• Pfizer selling $31 billion of bonds - YF

• FTC sues to stop Amgen’s $27.8 billion deal for Horizon Therapeutics - FB

• Vodafone drops after record 11,000 job cuts - CNBC

• Ackman’s Pershing Square reveals new $1 billion bet on Alphabet - CNBC

• Charles Schwab to raise $2.5 billion in long-term debt - RT

• U.S. weekly jobless claims falls - RT

• April existing-home sales drop 3.4% MoM - DSN

• Ford recalls 422k SUVs over rearview camera issue - FB

• Deutsche Bank to pay $75 million in Epstein lawsuit settlement - FB

• Palantir rises after Cathie Wood’s ARK discloses purchase of 1.26 million shares - MW

• Netflix draws 5 million people to ad-tier in first 200 days - Axs

• Micron to invest $3.7 billion in Japan for new DRAM chips - RT

• Catalent cuts annual forecast, delays earnings report again - BBG

• Morgan Stanley CEO plans to step down within the year - CNBC

• Debt ceiling talks are at a ‘pause’ - YF

Next Week In The Stock Market 🔮

Earnings Next Week:

What The Swan Is Watching:

Monday: Zoom

Tuesday: Dick’s, Intuit, Lowe’s, AutoZone

Wednesday: Nvidia, Kohl’s

Thursday: Dollar Tree, Costco, Best Buy, Ulta Beauty, TD Bank

Economic Calendar Next Week:

That’s all we got for this week!

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research