Beyoncé grammys 2023

Beyoncé spikes AMC shares

This week, Beyoncé boosts AMC stock, Nike rides a positive earnings wave, and Peloton’s partnership with Lululemon excites investors. It’s been a busy week, so let’s unpack it all in The Weekly Scoop!

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AMC shares climb 3% thanks to Beyoncé 👑

Beyoncé's boost: AMC Entertainment shares jumped on Monday after megastar Beyoncé announced her new concert film Renaissance (based on her blockbuster Renaissance World Tour) will be globally distributed by AMC.

  • Remember the day: December 1st is a date for AMC investors to mark in their diaries, as that’s the day the film hits the big screen. The trailer has already hit over 1.5M views in a few days, as it teases behind the scenes footage of her new tour and life with her daughters and husband Jay-Z. 

  • Queen B: By the end of her tour, Beyoncé is estimated to have generated $4.4 billion for the American economy. That’s the same amount that China’s economy benefited from during the 2008 Beijing Olympics, which puts into perspective just how big this is for AMC.

Stock analyst rating stating strong buy

*Ratings are provided by analysts at Zacks, a leading investment research firm

Nike jumps 5% as it smashes profit expectations 👟

Just do did it: The world’s largest sportswear maker topped Wall Street estimates for profit this quarter. It managed to keep prices high for its shoe and clothing ranges, which helped counter demand issues the sportswear industry’s been facing.

  • Revenue is vanity, profit is sanity: Nike may have just missed revenue targets by 0.3%, but its profit exceeded estimates by a whopping 19%. Last quarter, Wall Street was worried Nike had too much stock and would be forced to offer hefty discounts. But thankfully for Nike (and investors), Wall Street got it wrong. 

  • All eyes on shoes: Nike said it will be refreshing its portfolio of Jordan shoes and focus on its new Kobe brand, as a way to generate consumer excitement. CEO John Donahoe also said the company is “prioritising the everyday runner” by creating speciality running stores. It’s a savvy move to counter competition from newcomers like On Running, who are eating into Nike’s market share.

Stock analyst rating stating strong buy

*Ratings are provided by analysts at Zacks, a leading investment research firm

Peloton surges 8% due to Lululemon partnership 🚴

When life gives you lemons, strike a deal: Instead of bickering over yoga garms, rivals Peloton and Lululemon are now working together, having struck a 5-year partnership that should see both companies benefit from the deal. 

  • Bitter-sweet love: Despite their frosty past, Lululemon will become Peloton’s main apparel partner and be able to stream Peloton classes on its Lululemon Studio app, which has 13M members, almost double Peloton’s member base. 

  • So, what’s in it for Peloton? Simply put, reach! Peloton has experienced a serious post pandemic lull, with shares down a staggering 95%. But with this move, Peloton could significantly broaden its customer base.

Stock analyst rating saying hold

*Ratings are provided by analysts at Zacks, a leading investment research firm

What have we learned this week? 🤓

  • Pop stars can move markets: AMC stock was also boosted earlier in the year when Taylor Swift announced her Eras Tour film will also be distributed by AMC. The company is clearly onto a winner striking deals with global megastars. 

  • The bottom line is what matters: Whilst Nike’s earnings report wasn’t all positive, the bottom line (profit) is up. Ultimately, this is what investors really care about. 

  • Companies keep their friends close, enemies closer: Lululemon has tried to enter the sports equipment market, while Peloton has dabbled with sportswear. But by leveraging each other’s passionate audiences instead, both brands are hoping to grow their market share at quicker rates.

Stocks we're watching 👀

  • Netflix: The streaming giant is planning another hike in subscription prices to its ad-free tier once the actors’ strike ends. It’s not yet known by how much, but with 240m subscribers, any hikes make for serious revenue gains. 

  • Tesla: This week, Tesla announced it made 435,000 deliveries in Q3, missing predictions of around 21,000. All eyes are now on the 18th October when the company reports its quarterly financial earnings. 

  • JPMorgan: A week today, one of the largest financial services company announces its earnings for Q3. How will investors trade the stock in the build up? Time will tell.

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*Figures and ratings correct as of October 4th 2023.

Past performance does not guarantee future results. Capital at risk when investing. This content is for educational purposes only. Shares does not provide investment advice. If you are unsure about anything, please seek advice from an authorised financial advisor.

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James Ashoo

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James has been investing for over five years. His aim is to explain the hard stuff, easily! When he's not chewing your ear off about stocks and crypto, he'll most likely be telling bad jokes.

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Harry Harrison

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