shares Spike

Nike shares spike 8% after blockbuster sales – CNN

New York (CNN Business)Nike beat analysts’ revenue expectations for its first fiscal quarter by more than $1 billion Tuesday, signaling the sportswear giant is making a healthy comeback from the pandemic.

The company reported diluted earnings per share of $0.95 for the three months ended August 31. Revenue was $10.6 billion, down 1% year-over-year. Wall Street analysts had projected earnings per share of $0.47 on revenue of $9.14 billion, according to Refinitiv estimates.
Nike (NKE)‘s stock jumped more than 8% in after-hours trading Tuesday following the report.
Many footwear and apparel companies, including Nike, were hit by store closures and a decline in in-store shopping earlier in the year. In the quarter ended May 31, Nike posted a net loss and 38% decline in revenue.
In the latest quarter, however, Nike said that nearly all of its stores were open, though foot traffic is still lower than usual.
Nike’s investments in digital sales significantly boosted sales in the latest quarter.
In recent years, the company has shifted its focus from selling through third-party retailers to leaning on its own direct-to-consumer sales channels and e-commerce business, which positioned it to benefit as more consumers have turned to buying online.
The company said its Nike Brand digital sales grew 82% during the quarter, including triple-digit growth in the Europe, Middle East and Africa market.
Overall, revenue has returned to growth in the Europe, Middle East and Africa and Greater China markets. Sales in Asia Pacific and Latin America dropped 18%, and North American sales fell just 2% from the same period in the prior year, a significant improvement from the 46% year-over-year decline in the market in the previous quarter.
“Nike is recovering faster based on accelerating brand momentum and digital growth, as well as our relentless focus on normalizing marketplace supply and demand,” Nike CFO Matt Friend said in a release.
Nike’s digital platforms and sales experienced strong growth in the quarter, even as its physical stores reopened.
Friend said on a call with analysts Tuesday that demand on the Nike app jumped 150% during the quarter. And CEO John Donahoe said there was triple-digit growth in mobile active users on the company’s e-commerce apps, as well as strong demand for Nike’s Run app, which provides digital workouts.
Donahoe added that consumers are also increasingly identifying themselves as Nike app members when they check out at brick-and-mortar retail stores, which means the company can link that purchase to the consumer’s other shopping data.
That engagement is key, he said, because “we know a consumer who connects with us on two or more platforms has a lifetime value that’s four times higher than those who don’t … and we’ll use data to help us stay a step ahead.”
Nike is also likely to benefit from the return of live sports, which are a key marketing opportunity for the footwear giant.
While the company acknowledged the continued uncertainty from the ongoing pandemic, Friend said on the call that Nike now projects full-year fiscal 2021 revenue to be up in the high single digits to low double digits compared to the prior year.

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Snowflake shares more than double. It’s the biggest software IPO ever – CNN

New York (CNN Business)It may still be the dog days of summer but there was a blizzard on Wall Street Wednesday. Shares of Snowflake, a cloud data warehousing firm that has the backing of Salesforce (CRM) and Warren Buffett’s Berkshire Hathaway (BRKB), more than doubled on their first day of trading in the biggest software IPO ever.

Snowflake priced its initial public offering Tuesday night at $120 a share — well above the expected range of $100 to $110. That price range was revised upward from the original expectation of $75 to $85 a share earlier this month. It now trades on the NYSE under the ticker symbol “SNOW.”
But demand was so strong that shares finally wound up opening early Wednesday afternoon at $245 a share and quickly climbed above $300, for a 150% gain. Shares pulled back a bit as the day wore on but still finished the day with a nearly 112% gain.
The company sold 28 million shares and raised nearly $3.4 billion from the IPO. The impressive debut makes Snowflake the largest software IPO ever, easily topping the 2007 IPO of Dell (DELL)-backed VMWare (VMW), which raised nearly $1 billion.
At its closing price of just under $254, Snowflake is valued at $70 billion.
That makes Snowflake, which was founded in 2012, worth more than established companies in the S&P 500 like Bank of New York Mellon (BK), Hershey (HSY) and Allstate (ALL), as well as Dow components Walgreens (WBA) and Travelers (TRV).

No clouds on the IPO horizon

Still, the Snowflake debut doesn’t come close to making the ranks of the biggest IPOs of all time.
According to research from Renaissance Capital last year’s debut of Saudi Aramco is the largest, raising nearly $26 billion. The Uber (UBER) IPO in 2019 raised more than $8 billion too — and that makes it just the 25th largest IPO ever.
Snowflake is one of several buzzy “unicorn” startups that had been expected to go public before the end of 2020, a list that also includes Airbnb, Palantir and DoorDash. Another smaller software tools developer, JFrog, also went pubiic Wednesday and did well: Shares rose nearly 50% from their IPO price.
Snowflake helps blue chip companies analyze and share data in the cloud.
The company said in its most recent regulatory filing with the Securities and Exchange Commission that it now has more than 3,100 customers, double the total from a year ago. That includes 146 of the Fortune 500 firms.
Snowflake CEO Frank Slootman and other company executives are among the top individual investors in the company. Prominent venture capital firms Altimeter Capital, ICONIQ Capital, Redpoint Ventures, Sequoia and Sutter Hill also own significant stakes in the company.
Snowflake disclosed last week that Salesforce, the cloud giant that was recently added to the Dow, and Buffett’s Berkshire Hathaway would each buy $250 million in Snowflake stock in a private placement following the IPO.
The partnership with Snowflake could help Salesforce compete even more effectively against the Amazon (AMZN), Microsoft (MSFT) and Google owner Alphabet (GOOGL). Snowflake competes with Amazon’s AWS, Microsoft’s Azure and the Google Cloud platforms.
Berkshire’s investment marks a rare foray by Buffett into the world of tech startups. Berkshire tends to invest more in mature companies like Apple (AAPL), which is now the top holding for the “Oracle of Omaha.” Berkshire also made a bet on Amazon last year.
Snowflake is not a typical Berkshire play, because it is not yet profitable, even though sales are growing rapidly.
Revenue more than doubled in the past six months, to $242 million. But the company posted a net loss of $171 million, slightly less than the loss it posted in the same period a year ago.

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Trump Shares Doctored Video of Biden Playing NWA’s ‘F*** Tha Police’ – Newsweek

Donald Trump shared a doctored video of Joe Biden in which the Democratic presidential hopeful appeared to play NWA’s “F*** Tha Police” from his cell phone while on stage at a campaign event.

The edited clip, which was retweeted by the president with the caption, “What is this all about?” was an apparent attempt to mock Biden amid accusations by Trump and his team that the former Vice President supports defunding the police.

In fact, Biden reached for his phone during the event to mark the start of Hispanic Heritage Month to play the 2017 hit “Despacito.” He had earlier been introduced on stage by Luis Fonsi, who wrote the song.

“I tell you what, if I had the talent of any one of these people, I’d be elected president by acclamation,” Biden said after playing the short clip.

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Trump’s trolling of Biden over the issue of funding for law enforcement has been a running theme of the president’s campaign since the issue of police brutality came to the fore in the wake of the death of George Floyd in Minneapolis.

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In one June tweet, Trump wrote: “This year has seen the lowest crime numbers in our Country’s recorded history, and now the Radical Left Democrats want to Defund and Abandon our Police. Sorry, I want LAW & ORDER!”

That line of attack continued with an advertisement from the America First Action SuperPAC, which promotes Trump’s “America First” policy, appearing on Facebook in August still claiming Biden wanted to defund the police.

However, Biden has been explicit on the issue, telling ABC News he was not in favour of cutting funds for local law enforcement.

“I don’t want to defund police departments,” he said in an interview on 21 August. “I think they need more help, they need more assistance, but that, look, there are unethical senators, there are unethical presidents, there are unethical doctors, unethical lawyers, unethical prosecutors, there are unethical cops. They should be rooted out.”

Joe Biden florida event
Democratic presidential nominee and former Vice President Joe Biden speaks at a Hispanic heritage event at Osceola Heritage Park on September 15, 2020 in Kissimmee, Florida. National Hispanic Heritage Month in the United States runs from September 15th to October 15th.
Drew Angerer/Getty Images

Tuesday’s campaign events in Florida marked Biden’s first trip to the state as Democratic presidential nominee.

“More than any other time, the Hispanic community, Latino community holds in the palm of their hand the destiny of this country,” he said during the event in Kissimmee. “You can decide the direction of this country.”

Florida will be a key battleground in the lead up to November’s election, and the Biden campaign is keen to boost support among Latinos by focusing on immigration reform, among other issues.

But a poll by NBC News-Marist last week showed the Florida race was too tight to call, with Trump and Biden both getting the support of 48 percent of likely voters. Among likely Latino voters, Trump was ahead by 50 percent to 46 percent. The poll was conducted from August 31 to September 6 of 766 likely voters, with a margin of error of plus-minus 4.5 percentage points.

In the 2016 exit poll, Hillary Clinton beat Trump among Florida Latinos by 62 percent to 35 percent. However, Trump won the state by about 1 percentage point.

Newsweek has contacted Biden’s campaign for comment.

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shares Tesla

Tesla shares plummet 17% as tech sector sell-off continues – The Guardian

Carmaker’s value plunges after failing to make S&P 500 listing as all major US stock markets fall

The Tesla logo.

Tesla has been one of the biggest winners of recent stock market rallies as investors have piled into tech companies during the pandemic.
Photograph: Rex/Shutterstock

The US tech sell-off on Wall Street extended to a third day on Tuesday, with electric carmaker Tesla among the biggest fallers suffering its worst day in nearly six months.

The tech-heavy Nasdaq stock market dropped close to 3% in morning trading, following similar falls on Thursday and Friday. Wall Street was closed on Monday for the Labor Day holiday.

Shares in Tesla fell 17% on Tuesday, while Apple was down 4% and Amazon down 3%.

Tesla, with Elon Musk as chief executive, has been one of the biggest winners of recent stock market rallies as investors have piled into tech firms during the pandemic. The company’s share price surged 74.1% in August alone and is up about 400% this year. The rise has made Tesla more valuable than some of the world’s largest automakers, including Toyota and Volkswagen.

The sharp sell-off came after S&P Global, the company behind the S&P 500 index of top US companies, passed over Tesla for inclusion in the index – a move that had been expected to give Tesla’s share price another boost as index-fund investors added the stock to their portfolios. Etsy, the online marketplace for homemade products was a winner, gaining a place in the index.

“Tesla was already under pressure at the back end of last week, so the S&P story has made matters worse,” said David Madden, analyst at CMC Markets. “Despite the recent aggressive sell-off, the stock is still up 325% year-to-date.”

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All the major US stock markets were in the red on Tuesday morning with the S&P 500 and the Dow down close to 2%. While many traders see the sell-off in tech as a move by investors to take some profits after a historic boom, broader concerns about the US economy also appear to be worrying the markets.

Last week the US released new unemployment figures which suggest that the pace of recovery from the coronavirus recession is slowing. And over the weekend Donald Trump said he was looking to curb the US’s economic relationship with China, an announcement that could herald more trade disputes ahead.

“Typically, bubbles are unwound when the Fed takes away the punch bowl. Obviously, this is very unlikely to happen anytime soon,” Wolfe Research strategist Chris Senyek wrote on Tuesday. “However, this bubble can still be unwound by sustained economic disappointments.”

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Why Tesla Shares Skyrocketed in August – Motley Fool

And what shareholders might want to do with them in September.

John Bromels

What happened

Shares of electric-car maker Tesla (NASDAQ:TSLA) soared 74.2% in August, according to data provided by S&P Global Market Intelligence. On the last day of the month, Tesla’s stock split five for one.

Tesla’s shares closed out the month at $498.32 per split-adjusted share. Pre-split, that would have been a share price of $2.491.60. On July 31, its shares closed at “just” $1,430.75. This continued Tesla’s 2020 winning streak: The company’s stock price appreciated nearly 500% between Jan. 1 and Aug. 31. 

A rocket blasts off above the clouds.

Image source: Getty Images.

So what

August brought a mixed bag of news for Tesla the company. On the one hand, it was reported that Panasonic was increasing its investment in Tesla’s Gigafactory 1 by $100 million. On the other hand, the company also encountered some setbacks in China. 

But who am I kidding? Tesla’s incredible share price jump was due almost entirely to its decision to split its stock. All of the stock’s gains occurred between the company’s Aug. 11 announcement that it would split its shares five for one, and its first day of post-split trading, Aug. 31. 

A stock split doesn’t affect the value of individual investors’ holdings, and with many brokers offering fractional shares, a high share price isn’t the barrier to ownership that it once was. Still, many investors balk at plunking down four figures for a single share, so Tesla’s decision was seen as likely to entice a lot of new investment.

That may have been a self-fulfilling prophecy: Expecting a huge windfall on Aug. 31, investors began piling into the stock. That drove the price higher, which prompted more interest driven by fear of missing out. It all culminated in the first post-split day itself, when a record 118.4 million shares changed hands (about double Tesla’s previous volume record, set in February). 

Now what

Now investors are taking their profits: Tesla’s shares are down nearly 20% so far in September. It’s not really surprising. Investors bought the carmaker‘s stock at ridiculously high valuations expecting a big payday on Aug. 31. Once those bets paid off, all that was left was that ridiculously high valuation. Now that the stock price has started dropping, short-term investors are getting out to protect their gains. 

Honestly, now’s probably a decent time to take some profits from Tesla. Even with recent drops in share price, the stock is still up more than 350% year to date, and more than 700% over the last five years. Tesla’s price is so divorced from any traditional valuation metrics that it’s impossible to know where it’s likely to end up in a month, let alone a year or two. 

But nothing fundamental has changed about the company itself or its operations, so investors shouldn’t feel the need to follow the crowd to the exits if they’re still bullish on the stock.

John Bromels owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.


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Shares of Uber, Lyft drift lower after California judge says that contract drivers are employees – TechCrunch

Shares of Uber and Lyft dipped modestly after a California judge granted a preliminary injunction that TechCrunch reports could force the two American ride-hailing companies to reclassify drivers as employees in the state.

Uber’s stock is off about 1.3% following the cessation of normal trading hours after dipping around 2% in regular trading. Lyft’s stock is down a sharper 2.1%, though its shares rose during regular trading, making the impact of its after-hours declines smaller in aggregate.

As TechCrunch noted in its coverage of the ruling, the costs associated with classifying current drivers as employees and not independent contractors could prove material. While the decision might be meaningful, investors seemed unmoved. Reading the Wall Street tea leaves can be an exercise in futility, but in this case the months of chatter and legal wrangling over the central question of whether drivers should be employees may have desensitized investors to any particular news item.

Both companies provided statements after the news broke, each stating that they will appeal the ruling. That legal posture could also help assuage investor concerns about short-term economic impacts regarding the injunction, which is currently set to take effect in 10 days.

Here’s what Lyft had to say:

Drivers do not want to be employees, full stop. We’ll immediately appeal this ruling and continue to fight for their independence. Ultimately, we believe this issue will be decided by California voters and that they will side with drivers.

And here are Uber notes:

The court’s ruling is stayed for a minimum of 10 days, and we plan to file an immediate emergency appeal on behalf of California drivers. The vast majority of drivers want to work independently, and we’ve already made significant changes to our app to ensure that remains the case under California law. When over 3 million Californians are without a job, our elected leaders should be focused on creating work, not trying to shut down an entire industry during an economic depression.

Uber CEO Dara Khosrowshahi published an op-ed in The New York Times today ahead of the ruling, arguing for a middle ground between the gig economy of today’s lack of worker support, and full employment.

To understand why shares of Uber and Lyft are not taking more fire from public investors in light of the news, TechCrunch turned to Uber’s most recent earnings filings. Lyft does not report Q2 earnings until this Wednesday, meaning we have less recent material from the company. Uber’s documents, however, are useful.


Uber reported earnings last week, showing stiff losses and a surging food-delivery business. The company’s ride-hailing operation was severely hampered by COVID-19 and its related impacts.

As part of its earnings cycle, Uber filed a 10-Q document. It included notes regarding the California legal situation from before the recent decision. The filing is dated August 7, 2020, or last Friday, making it about as fresh a comment from the company that we can expect regarding its pre-news perspective on the matter.

Here’s the first pertinent portion of its SEC filing, with our emphasis to help you parse it:

The Company has existing litigation, including class actions, PAGA lawsuits, arbitration claims, and governmental administrative and audit proceedings, asserting claims by or on behalf of Drivers that Drivers are misclassified as independent contractors. In connection with the enactment of California State Assembly Bill 5 (“AB5”), the Company has received and expects to continue to receive – in California and in other jurisdictions – an increased number of misclassification claims. With respect to the Company’s outstanding legal and regulatory matters, based on its current knowledge, the Company believes that the ultimate amount or range of reasonably possible loss will not, either individually or in the aggregate, have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows. The outcome of such legal matters is inherently unpredictable and subject to significant uncertainties. If one or more of these matters were resolved against the Company for amounts in excess of management’s expectations, the Company’s results of operations, financial condition or cash flows could be materially adversely affected.

A bit further down in the filing, Uber said the following, regarding its chances of success:

On August 6, 2020, following a hearing on the matter, the San Francisco Superior Court informed the parties that the Court would take the motions under submission and publish its order in the coming days.

The Company intends to vigorously defend itself with regard to these actions. The Company’s chances of success on the merits are still uncertain and any reasonably possible loss or range of loss cannot be estimated.

Welcome to the coming days.

Using their share price movement as a barometer, the immediate view from investors appears to be that the possible damage to Uber and Lyft from the decision could prove modest despite.

Uber and Lyft had made profit promises to their shareholders before COVID-19 arose, harming their business results. The California decision could add another layer of difficulty for each as they work to come out of the COVID era solvent, and once again on a path to adjusted profitability.

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CVS shares jump as retailer raises 2020 forecast after strong quarterly results – CNBC

Customers shop at the CVS Pharmacy, on Morrissey Boulevard, in Dorchester, on April 2, 2020. Some pharmacy workers worry about unsafe conditions at their stores.

Pat Greenhouse | Boston Globe | Getty Images

CVS Health on Wednesday reported a strong second quarter and raised its outlook for the year, saying it is better positioned to weather the pandemic because of its diverse business, which includes its large drugstore chain and health benefits.

The health-care company beat analysts’ expectations for earnings and revenue in the fiscal second quarter.

Shares of the company were down nearly 1% to $64.40 at market close. They had initally jumped by more than 6% early Wednesday in premarket trading, just after the company released earnings.

“The environment surrounding COVID-19 is accelerating our transformation, giving us new opportunities to demonstrate the power of our integrated offerings and the ability to deliver care to consumers in the community, in the home and in the palm of their hand which has never been more important,” CVS Chief Executive Larry Merlo said in a news release.

Here’s what the company reported for the quarter ended June 30 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $2.64 adjusted, vs. $1.93 expected
  • Revenue: $65.3 billion vs. $64.23 billion expected

The drugstore chain reported fiscal second-quarter net income of $2.98 billion, or $2.26 per share, up from $1.94 billion, or $1.49 per share, a year earlier.

Excluding items, CVS earned $2.64 per share, higher than the $1.93 cents per share expected by analysts surveyed by Refinitiv.

Revenue rose 3% to $65.3 billion, from $63.43 billion a year prior. It also outpaced the $64.23 billion expected by analysts.

CVS raised its outlook for the year. It expects earnings of $5.59 to $5.72 per share. After adjustments, it said it expects to earn between $7.14 and $7.27 per share, up from a prior forecast of $7.04 to $7.17 per share. 

At the drugstore chain, front of the store revenue and prescription volume dropped during the quarter as many customers stayed at home during shelter-in-place orders.

Front store revenues dropped 4.6% in the three month period, compared with a year prior. Prescriptions filled dropped by 1.1% on a 30-day equivalent basis for the quarter, compared with a year ago, as fewer customers went to the doctor and thus got fewer new prescriptions.

However, the company — which is also in the health benefits business — also got a boost from people’s changing medical habits. Its operating income increased by more than 40% compared with the quarter a year prior, as people deferred elective procedures and discretionary use of their health-care benefits.

On CNBC’s “Closing Bell,” Merlo said those trends started to reverse in June as the economy reopened and people used medical care in more typical ways. Stores saw more shoppers and filled more prescriptions in June and July, too, he said. 

However, he said, he expects some tech-enabled habits to stick. Telemedicine use jumped by more than 700% in the second quarter. Customers used health care monitoring at home and got more comfortable with it.

“That’s something that we have invested in and you’ll see us bringing more capabilities and products to market as we move into the future,” he said. 

During the pandemic, CVS has set up and operated Covid-19 testing sites. The company said it’s opened more than 1,800 test sites at drive-thru locations to date, which it runs in coordination with federal, state and local officials.

In late March, CVS announced plans to hire 50,000 additional part-time, full-time and temporary employees to keep up with demand and help with services, such as home prescription delivery. It said Wednesday that it’s hired more than 40,000 people so far.

Read the complete earnings release here.

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Novavax shares

Novavax shares plunge after-hours despite positive Covid-19 vaccine data – CNBC Television

Novavax shares plunge after-hours despite positive Covid-19 vaccine data – YouTube

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FAA shares new steps for Boeing to return 737 Max to the skies – The Verge

The Federal Aviation Administration (FAA) has released a “preliminary summary” of its 18-month review of the Boeing 737 Max program, and with it, has detailed the remaining steps the company will likely need to take in order to allow the plane back into the air. Among the changes the agency is asking for is new software for the plane’s flight control computer and displays, a revised manual and enhanced training for flight crew, and new maintenance procedures. A few key issues remain unfinished, though, like finalizing a new pilot training process.

The FAA laid out the changes both in the 96-page summary and in a Notice of Proposed Rulemaking published on Monday. The public will have 45 days to comment on the latter before the agency officially requires Boeing to make the changes. It won’t be until after that, at the earliest, that the FAA would re-certify the 737 Max, meaning the plane is still likely months away from being put back into service.

The 737 Max has been grounded worldwide since March 2019, after it was involved in two fatal crashes that killed 346 people. One of the particular issues that doomed both flights was a piece of software known as the Maneuvering Characteristics Augmentation System, or MCAS, that was designed to stop the plane from stalling in very specific takeoff situations. Using information from sensors on the outside of the plane, MCAS was able to pitch the nose of the plane down if it believed it was angled too high.

A major problem with MCAS was that, in a bid to skirt the lengthy and costly process of retraining pilots on this new piece of software, Boeing simply hid it from them and from the FAA. Another was that MCAS only pulled data from one external sensor, meaning it could be led astray if that sensor was damaged. All of this led to the pilots on both fatal flights scrambling to try and fix a problem they didn’t understand in their final moments.

The FAA says its review has involved “40 engineers, inspectors, pilots, and technical support staff,” and more than 60,000 hours of “review, certification testing, and evaluation of pertinent documents.” The FAA says it analyzed more than 4,000 hours of Boeing’s flight and simulator tests, and did 50 hours of its own testing. The agency and the company recently completed three days of real-world flight tests in the Seattle, Washington area.

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Kardashian shares

Rob Kardashian Shares Adorable Photo of Daughter Dream with Her Cousins Saint, Chicago and True – MSN Money

Dream Kardashian, 3, True Thompson, 2, Chicago West, 2, and Saint West, 4, posed together with their winning medals

On Saturday, the Keeping Up with the Kardashians star, 33, shared an adorable photo of his daughter Dream Kardashian, 3, posing with her cousins True Thompson, 2, Chicago West, 2, and Saint West, 4.

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In the too-cute family photo, each of the toddlers is seen sporting a medal around their neck, which Rob seemingly awarded them for a cousins’ competition. “YOU get a medal! YOU get a medal! YOU get a medal! YOU get a medal! ???????,” the proud dad captioned the sweet photo, referencing Oprah Winfrey’s tagline about giveaways.

Dream and Chicago kept hilarious straight faces for the picture, while True and Saint showed off their beaming smiles.

Rob’s daughter — whom he shares with ex Blac Chyna — appeared to have earned an extra medal, which she can be seen holding off to the side in a small plastic bag.

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The adorable family moment comes one week after the Kardashian-Jenner family gathered in honor of Khloé Kardashian’s 36th birthday, throwing her a party complete with inflatables, sweet treats and colorful decorations.

“Sweet 16 ? woo,” he wrote on Instagram, sharing a sweet photo of himself with an arm around Kourtney, 41, as he wore a blue hat and a black hoodie. Momager Kris Jenner also posted the same photo on her own account, writing, “These two cuties ?.”

The matriarch also documented the festivities by capturing a joyful snapshot of her children clowning around, with Kourtney and Kim not pictured.

From left: Rob Kardashian, Khloé Kardashian, Kendall Jenner, Kylie Jenner

“4 out of 6 #happybirthdaykhloe,” Jenner captioned the shot, which showed Rob laughing with Khloé in front of a pink-themed dessert table, as Kendall, 24, danced nearby and Kylie, 22, snacked on a treat.

On Twitter, Khloé thanked everyone for sending positive birthday wishes and explained that the celebration was limited to just family amid the ongoing coronavirus (COVID-19) pandemic.

“I had the most magnificent birthday!!! It was family only. We just aren’t comfortable being around too many people but the decor was OUT OF THIS WORLD!!!!!” wrote Khloé. “I wanted to thank you ALL for sending me so many beautiful and kind wishes. I love you very much.”

Rob also shined at another one of his older sisters’ birthdays this year. Back in April, when Kourtney turned 41, she revealed that her brother surprised her with a timeless present. The Poosh creator revealed at the time that Rob got her something that couldn’t be bought in a store: her late father Robert Kardashian Sr.’s record collection.

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