💰 U.S. stocks suffered significant declines as major economic data was substantially revised downward, triggering market panic and complicating betting dynamics.
💹 $Sunrun(RUN)$/$Amprius Technologies Operating Inc(AMPX)$/$Solid Power, Inc(SLDP)$: Set to report earnings soon, demonstrating a remarkable resilient growth potentials.
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Bittersweet Symphony
|Looking for a fix
The non-farm payroll data has been dramatically revised, with discrepancies reaching tenfold. Frequent adjustments to U.S. economic data are causing considerable alarm on Wall Street. On August 1, 2025, the U.S. Bureau of Labor Statistics revised May's non-farm employment figure from 144,000 to 19,000, and June's from 147,000 to 14,000, resulting in a combined reduction of 258,000 jobs for May and June. The July non-farm data fell short of expectations, indicating a clear slowdown in the labor market and heightened risks of economic deceleration.
Such vast discrepancies in the data are unsettling for investors. Historically, larger downward revisions have occurred, but this is the most significant since the onset of COVID-19. As non-farm data, along with inflation figures, are key indicators affecting the Federal Reserve's interest rate decisions, and given ongoing skepticism about the "true" impact of Trump's tariffs on the economy, this revision has particularly rattled the market.
The probability of a rate hike by the Federal Reserve in September has surged to 90%. This substantial revision has sparked speculation about data manipulation; however, no conclusive evidence has emerged yet. Trump swiftly dismissed the Bureau of Labor Statistics chief, alleging that the employment data produced by a Biden-appointed official is insufficiently accurate. Almost simultaneously, a Federal Reserve governor announced their resignation, raising concerns about the independence of the Federal Reserve and the credibility of economic data.
Once politicized, the reference value of economic data significantly diminishes. A pertinent question arises: to what extent can a president, following the appointment of new officials, influence or even manipulate statistical data and monetary policy?
Certain new economic concepts still attract funding, indicating persistent structural opportunities in the market, with noteworthy stocks including: $Sunrun(RUN)$/$Amprius Technologies Operating Inc(AMPX)$/$Solid Power, Inc(SLDP)$ .
| Market recap
Last Friday, the three major U.S. indices closed lower, with $NASDAQ(.IXIC)$ down 2.24%, a total weekly decline of 2.17%, and $S&P 500(.SPX)$ down 1.6%, cumulatively down 2.36% for the week.
The indices opened lower and trended downward, with increased trading volume indicating heavy selling pressure. $Cboe Volatility Index(VIX)$ surged, reflecting heightened demand for risk aversion.
Technology stocks broadly declined, with $Amazon.com(AMZN)$ falling over 8% and $Meta Platforms, Inc.(META)$ down more than 3%; however, $Gold Fields(GFI)$ rose over 5% and $Eli Lilly(LLY)$ increased by more than 3%.
Megacaps - Hard & soft techs
None of The Magnificent Seven was spared, as market sentiment weakened noticeably, with heavyweight stocks dragging down index performance. This week’s significant earnings reports come from hard tech leader AMD and software giant PLTR.
$Advanced Micro Devices(AMD)$ - Expected revenue of $7.43 billion, a 27% year-over-year increase, but net profit is anticipated to decline.
The company will release its Q2 earnings after U.S. markets close on August 5, with market expectations for revenue of $7.43 billion, a 27% year-over-year increase, but net profit is projected to drop from $1.26 billion last year to $796.6 million. The company plans to raise the price of its Instinct MI350 AI accelerators from $15,000 to $25,000, a nearly 70% increase, and it is expected to resume the export of MI308 chips to China, bolstering its AI business growth. Additionally, AMD has captured one-third of the server CPU market, projected to reach 36% this year and possibly exceed 60% by 2026, continuously chipping away at Intel's market share.
$Palantir Technologies Inc.(PLTR)$ - Expected revenue of $939.6 million, a 38.6% year-over-year increase, with an anticipated EPS growth of 55.5%.
The market has long debated the company's valuation and whether its growth can continue, but this has not hindered its stock price from rising over 100% year-to-date. Whether the company's management can provide satisfactory guidance to the market is of utmost importance.
Palantir is scheduled to announce its second-quarter earnings on August 4, with investors having high expectations following impressive performances in recent quarters. Wall Street expects PLTR to report an EPS of $0.14, reflecting a 55.5% year-over-year increase. Revenue is estimated to grow by 38.5% to $939.12 million.
Top movers
Last Friday, ESG and compliance SaaS company $Workiva(WK)$ surged 32% after posting a 23% increase in subscription revenue for the second quarter, with the number of customers with contract values exceeding $500,000 rising by 35% year-over-year, beating revenue expectations and raising its full-year performance guidance.
$Reddit(RDDT)$ increased by 17.5%, also due to better-than-expected earnings, with revenue soaring 78% year-over-year to $500 million—AI marketing tools enhanced advertising effectiveness, leading to a 21% year-over-year increase in daily active users to 110.4 million, and its Q3 revenue guidance also exceeded expectations.
The "new king of meme" $Opendoor Technologies Inc(OPEN)$ rose 14%, as social media drove speculation in meme stocks, with short positions constituting 21.9% of its float, triggering a short-covering demand.
Asian markets
In today’s Hong Kong market, investor sentiment is lively, particularly favoring technology stocks. $HSTECH(HSTECH)$ ended its seven-day decline, rebounding quickly after approaching a low of 5,300 points at the open, closing up 1.55%. Among individual stocks, $INNOSCIENCE(02577)$ surged over 30% after announcing a partnership with NVDA to implement 800VDC at scale.
| New power solutions: A silver lining in mid-caps
Despite recent market volatility, promising growth opportunities remain, particularly with stocks like RUN, AMPX, and SLDP. These companies are poised to thrive with innovative technologies in solar energy and advanced battery solutions.
RUN - Earnings release scheduled for August 6
$Sunrun(RUN)$ is engaged in the design, development, installation, sales, ownership, and maintenance of residential solar systems in the U.S. The company acquires customers directly or through various solar and strategic partnerships. On July 24, Sunrun launched an innovative home energy plan in collaboration with Tesla in Texas.
The concept of Virtual Power Plants (VPP) is rapidly transitioning from a cutting-edge idea to a viable grid solution. The company acts as a "peaking power plant," where users utilize their home photovoltaic systems and batteries to assist neighbors in overcoming energy crises. Thousands of battery-equipped solar homes across the U.S. can now store energy when renewable resources are abundant and inexpensive, returning power to the grid during peak demand, utility pressures, and high costs. This summer, Sunrun has dispatched hundreds of megawatts of power from over 130,000 batteries across California, New York, Massachusetts, Rhode Island, and Puerto Rico.
The impact of the OBBBA is not a concern. Companies like Sunrun and Tesla can still offer solar systems to customers through leasing or power purchase agreements, maintaining eligibility for tax credits, as long as they begin construction before mid-2026 or complete installation by the end of 2027. For these companies, the battery tax credit will extend until 2033.
AMPX - Earnings release scheduled for August 7
$Amprius Technologies Operating Inc(AMPX)$ produces and sells ultra-high energy density lithium-ion batteries for mobility applications. The company offers silicon nanowire anode batteries primarily used in existing and emerging aviation applications, including unmanned aerial systems such as drones and high-altitude pseudo satellites.
Amprius Technologies' Q2 results are expected to be released on August 7, with revenues projected to reach $12.92 million, a 285.5% increase from the same quarter last year.
Strategically, Amprius has partnered with a South Korean manufacturer to enhance its battery production capabilities, focusing on SiCore batteries for advanced drones. This manufacturing shift enables Amprius to establish contract manufacturing operations in multiple regions while accelerating its path to profitability by reducing capital expenditure requirements.
SLDP - Earnings release scheduled for August 6
$Solid Power, Inc(SLDP)$ is a leading solid-state battery technology company in the U.S. that focuses on the development of sulfide-based solid electrolytes. The company has established deep partnerships with BMW Group and Stellantis.
Solid-state batteries are considered a key breakthrough for the next generation of electric vehicles, offering advantages such as higher energy density, enhanced safety, and faster charging speeds.
The global solid-state battery market is projected to grow from USD 0.26 billion in 2025 to USD 1.77 billion by 2031, with a CAGR of 37.5%. Demand for electric vehicles, renewable energy storage, and portable electronics fuels interest in solid-state batteries. These batteries provide higher energy density, improved safety, and longer lifespans than conventional lithium-ion batteries, making them transformative across automotive, consumer, and industrial applications. Their solid electrolyte eliminates leakage and thermal runaway risks, making them ideal for next-generation EVs, aerospace, and medical devices.
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