⁠Wall St Engine
WHITE HOUSE: THERE WILL BE NO INCREASE TO THE DEFICIT FROM THE TAX BILL
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⁠Wall St Engine
WH LEAVITT: OTHER COUNTRIES WILL CONTINUE TRADE NEGOTIATIONS BECAUSE PRESIDENT HAS OTHER TARIFF AUTHORITIES
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⁠Wall St Engine
GERMANY PLANS 10% DIGITAL TAX ON TECH GIANTS LIKE GOOGLE & $META https://t.co/PFWXZit12b
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⁠Wall St Engine
WHITE HOUSE SAYS BESSENT, GREER HAVE BEEN IN TOUCH WITH COUNTERPARTS ON TARIFFS AFTER COURT RULING
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⁠Investing visuals
$FICO is down 🔻33% past month. Meanwhile:

🔹Revenue grew 15% past quarter
🔹Has 81% gross margin and 38% FCF margin
🔹Their return on capital is 57%

BUT it's still expensive at 44x price free cash flow. https://t.co/w8yqD1NdMO
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⁠Wall St Engine
Wells Fargo $WFC has confirmed the termination of its 2015 OCC agreements. As of now, the only remaining consent order is the one from 2018 with the Federal Reserve Board.
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⁠Wall St Engine
US HOUSE SPEAKER JOHNSON: THE TAX BILL WILL REDUCE THE DEFICIT, IF YOU DO THE MATH RIGHT.
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⁠Wall St Engine
FORD $F EXECUTIVE CHAIR: IF EV PRODUCTION TAX CREDITS GO AWAY, OUR MICHIGAN BATTERY PLANT IS "IMPERILED"
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⁠Wall St Engine
US APPEALS COURT REINSTATES TRUMP TARIFFS DURING APPEAL
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⁠Wall St Engine
FEDERAL CIRCUIT COURT SAYS IT NEEDS TIME TO CONSIDER FILINGS
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⁠Wall St Engine
WH TRADE COUNSELOR NAVARRO:

YOU CAN ASSUME EVEN IF WE LOSE TARIFF CASES WE WILL DO IT ANOTHER WAY; WE WILL HEAR IN THE NEXT DAY OR TWO FROM USTR
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⁠Wall St Engine
RT @wallstengine: Goldman Sachs says the recent trade court ruling won’t stop the Trump administration from moving forward with new tariffs. In a note, Alec Phillips writes that even if the IEEPA-based tariffs are struck down, the White House could use Section 122 of the Trade Act of 1974 to impose up to 15% tariffs for 150 days without any formal investigation. That short-term move could serve as a bridge while launching Section 301 investigations, which take longer but allow for more durable, targeted tariffs.

Goldman notes that sector-based tariffs, like those already applied to steel and autos under Section 232, remain unaffected by the court ruling. Phillips adds, “We already expect additional sectoral tariffs (pharmaceuticals, semiconductors/electronics, etc.) and uncertainty regarding the IEEPA-based tariffs could lead the White House to put more emphasis on sectoral tariffs, where there is much less legal uncertainty.”

He also flags Section 338 of the 1930 Trade Act as another tool available to the president, though it’s never been used and doesn’t require congressional input. Overall, Goldman calls the court ruling a “nothingburger” given the other options still available to impose trade measures.
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⁠Wall St Engine
S&P 500 Closing Bell Heatmap (May 29, 2025)

$SPY +0.38% 🟩
$QQQ +0.20% 🟩
$DJI +0.28% 🟩
$IWM +0.30% 🟩

S&P 500 Opening Bell Heatmap (May 29, 2025)

$SPY +0.89% 🟩
$QQQ +1.36% 🟩
$DJI +0.15% 🟩
$IWM +0.64% 🟩 - Wall St Engine
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⁠Wall St Engine
$NTAP | NetApp Q4 Earnings Highlights

🔹 Adj. EPS: $1.93 (Est. $1.89) 🟢; +7% YoY
🔹 Revenue: $1.73B (Est. $1.72B) 🟢; +4% YoY
🔹 All-Flash ARR: $4.1B; +14% YoY
🔹 Public Cloud Rev: $164M; +8% YoY

Q1 Guide:
🔹 Adj. EPS: $1.48–$1.58 (Est. $1.66) 🔴
🔹 Revenue: $1.46B–$1.61B (Est. $1.60B) 🟡
🔹 Gross Margin (Non-GAAP): 71%–72%
🔹 Op. Margin (Non-GAAP): 25%–26%

FY26 Guidance:
🔹 Revenue: $6.625B–$6.875B
🔹 Adj. EPS: $7.60–$7.90
🔹 Gross Margin (Non-GAAP): 71%–72%
🔹 Op. Margin (Non-GAAP): 28.8%–29.8%

Other Key Q1 Metrics:
🔹 Gross Profit (Non-GAAP): $1.20B; Record
🔹 Op. Income (Non-GAAP): $496M; Record
🔹 Cash from Ops: $675M (vs. $613M YoY)

Dividend Update:
🔸 Next dividend: $0.52/share, payable July 23, 2025

Strategic & Product Highlights:
🔸 Innovation: New ASA/FAS50 storage arrays, EF portfolio QLC support, BlueXP AI tools, AI/ML data vaulting, ransomware protection, Trident 25.02 for Kubernetes
🔸 Cloud Focus: Exited Spot by NetApp; stronger Microsoft & Google Cloud integrations
🔸 AI Leadership: Validated by NVIDIA for DGX SuperPOD; integrated with NVIDIA AI Data Platform
🔸 NFL Partnership: Named Official Intelligent Data Infrastructure Partner

Executive & Recognition:
🔸 New Appointments:
 • Frank Pelzer to Board
 • Beth O’Callahan as Chief Administrative Officer
🔸 Awards:
 • Google Cloud Infra Partner of the Year
 • Gartner Peer Insights: Customers’ Choice
 • CRN: Top AI, Storage, Data Center & Partner Awards
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⁠Wall St Engine
$DELL Q1 Earnings Highlights

🔹 Revenue: $23.38B (Est. $23.14B) 🟢; +5% YoY
🔹 Adj. EPS: $1.55 (Est. $1.69) 🔴; +17% YoY
🔸 AI Server Demand: $12.1B in AI orders this quarter alone; $14.4B AI backlog

Q2 Guidance:
🔹 Revenue: $28.5B–$29.5B (Est. $25.35B) 🟢
🔹 Adj. EPS: ~$2.25 (Est. $2.09) 🟢
🔹 GAAP EPS: ~$1.85

FY Guidance:
🔹 Revenue: $101B–$105B (Est. $103B midpoint) 🟡
🔹 Adj. EPS: ~$9.40 (Est. $9.20) 🟢
🔹 GAAP EPS: ~$7.99

Q1 Segment Highlights:
🔸 ISG Revenue: $10.3B; +12% YoY
🔹 Servers & Networking: $6.3B; +16% YoY
🔹 Storage: $4.0B; +6% YoY
🔸 ISG Operating Income: $998M; +36% YoY

🔸 CSG Revenue: $12.5B; +5% YoY
🔹 Commercial: $11.0B; +9% YoY
🔹 Consumer: $1.5B; −19% YoY
🔸 CSG Operating Income: $653M; −16% YoY

Other Key Q1 Metrics:
🔹 Record Cash Flow from Ops: $2.80B; +168% YoY
🔹 Adj. Free Cash Flow: $2.23B; +258% YoY
🔹 Capital Return: $2.4B to shareholders (buybacks + dividends)
🔸 Server/Networking Revenue: Record quarter
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