Good afternoon. QQQs +16bps as both non-profitable tech and TMT Momentum trade led the way lower. Yields ticked down slightly; BTC - 1%; IWM -1.11% with first day of underperformance vs QQQs in a while ahead of a big week of earnings. Reminder, Jensen and Zuck fireside chat tonight at 6pm est.
Internet
GOOGL +1.5% on Phillips Upgrade to Buy
BABA +3% on new service fees announced - was out Friday but got play from some sell-siders today
ETSY +2.5% - didn’t see much here but might have missed something
AMZN +40bps as ISI removed from “Tactical underperform list”
Others: META flat; DASH +1%
OTAs strong: EXPE +1.9%; BKNG +1.5% while Ride-share was weaker: UBER -1%; LYFT - 1%
NFLX - 70bps hitting new lows after the print
MTCH -15bps as DB called out slightly better June/July data although 3p still showing weaker data
W +2% as JPM was previewed positively saying likely to see some EBITDA upside. Live yip data also showed an uptick in last week with first positive y/y week growth in orders placed i…
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