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Happy Friday Zingernation! When I think of ‘Dell’ I think about the first laptop I got when I was about 13 years old. It lasted for all of three months, but that may have had something to do with the music I was downloading illegally from ‘Limewire’ and not the hardware itself. Now, Dell is picking up momentum as an AI and data center play, plus, July inflation data comes in slightly below expectations.

—Aaron Bry & Nic Chahine

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MARKET SNAPSHOT

Yesterday: We were lookin’ great till we weren’t. The market was green all day, but a sharp sell-off late in the session brought the S&P 500 and Nasdaq into the red. Let’s see if we can close out the week on a strong note!

On Our Radar: PCE data came in slightly cooler-than-expected this morning, and we’ll get consumer sentiment data at 10am ET. Happy trading, Zingers.

TOP STORY

Dell Q2 Earnings: Revenue Beat, EPS Beat, Accelerating AI Momentum And More

Basically: Dell reported financial results for the second quarter Thursday after the bell. Here’s a look at the key metrics from the quarter.

Q2 Earnings: Dell reported second-quarter revenue of $25.03 billion, beating the consensus estimate of $24.14 billion, according to Benzinga Pro. The company reported adjusted earnings of $1.89 per share, beating analyst estimates of $1.71 per share. Here are the growth drivers for the company and what its CEO said about its AI plans.

PRESENTED BY SPROTT

Copper’s Growing Demand Is Creating Newfound Value for Mining Firms

During the gold rush, wealth was garnered mainly by those who sold “pickaxes and shovels” to the prospectors who dug for gold. In the era of electrification and decarbonization, entities essential to sourcing and refining copper will benefit significantly from society’s transition from fossil fuels. This presents an opportunity for investors to gain exposure to companies providing access to a critical mineral—copper—necessary for the clean energy transition. As society accelerates its decarbonization journey, copper mining companies could be poised to rise in value over time, allowing investors who hold them in their portfolio to benefit from the economic value they provide.

FIVE ZINGERS

Don’t Look Now: Alibaba’s stock is on the rise after the company completed three years of regulatory scrutiny from China’s government.

That’s A Blemish: Ulta Beauty’s stock took a hit today after the cosmetics giant reported worse-than-expected earnings.

I Need A Dollar: Dollar General’s stock is down more than 30% in the last week. And the CEO is worried about the consumer.

Weighing Options: Intel is reportedly exploring options amid a crash in the company’s stock. Here’s what Intel might do to try and impress investors.

Insider Sells: Insiders are selling shares at Meta Platforms, Bank of America and these other stocks.

ONE FOR THE ROAD

Fed's Preferred Inflation Gauge Falls Short Of Expectations In July, Personal Spending Accelerates

Basically: After three consecutive months of decline, the Federal Reserve’s preferred measure of inflation held steady in July, although it came in slightly below market forecasts.

The Personal Consumption Expenditures (PCE) Price Index increased by 2.5% in July 2024 compared to the same period last year, according to government data released Friday.

PRESENTED BY AXOS

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