Click on technology stocks ahead of the interest rate decision; Lift erases one-third of its value

Ongoing reporting from the world’s leading markets: important updates, prominent stocks, bonds and analyst updates

Interactive TV | Edition 04.05.22: Market vigilance ahead of the Fed speech

18:20 – Investigation by the US Securities and Exchange Commission (SEC) against Chinese Didi Following the IPO in 2021: The travel-sharing giant was launched on Wall Street in June 2021 – but a few days later the Chinese government announced its removal from the country’s app stores. Since its issuance, the stock has fallen by 85%, today it has fallen by 5%.

17:50 – The first quarter reports and the disappointing forecast for the rest of the year continue to put pressure on Teva shares, which cut 7.5%. The company’s revenue, which stood at $ 3.66 billion, was 7% lower than in the corresponding quarterAnd were in fact a low not recorded since 2010.

17:15 – Technology stocks are losing ground as the Fed’s interest rate decision is announced – NASDAQ is deleting 1.2%. Lift is already losing a third of its value.

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Nasdaq Stock Exchange

(Photo: Bloomberg)

16:30 – Quiet opening on Wall Street – Dow Jones, S&P 500 and Nasdaq without significant change. 10-year US bond yields climb by 4 basis points to 2.995%.

U.S. oil jumped 4.5 percent to $ 107 a barrel. After the reports – Lift falls by 30% due to a disappointing forecast, Uber erases 10%, AMD climbs by 6%.

15:25 – The number of jobs in the private U.S. market recorded a more moderate-than-expected increase in April, according to research firm ADP.

The ADP’s employment index showed that the number of private jobs in the economy increased by 247,000 in April, after an increase of 479,000 jobs in March and below the forecasts for an increase of 395,000 jobs.

ADP’s private survey is published two days before the U.S. Department of Labor’s employment report, which is published on the first Friday of each month.

14:00 – The pharmacy chain (and healthcare provider) CVS reported net income of $ 2.31 billion or $ 1.74 per share, compared to $ 2.22 billion or $ 1.68 per share in the same quarter last year. Earnings per share were $ 2.22, compared to analysts’ expectations of $ 2.15 per share.

Revenue rose to $ 76.83 billion, compared to $ 79.1 billion in the same quarter last year – expectations were $ 73.39 billion. CVS shares are up 1.6% pre-year.

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(Photo: AP)

13:45 – Towards the start of the trading day, and the Fed’s interest rate decision tonight: futures on the Dow Jones and S&P 500 indices rise by 0.3%, contracts on the Nasdaq rise by 0.2%; US bond yields rise to 10% Stable years, about 2.95%.

WTI oil is up 4% to $ 106.5 a barrel and Brent is up 3.9% to $ 109.1 a barrel, with the background The proposal submitted by the European Commission, To stop oil imports from Russia within six months; Gold is stable, at $ 1,869.90 an ounce; In Europe: Dax is down 0.2%, Kak is down 0.5% and Potsey is down 0.6%.

13:30 – Match Group loses 6% in pre-match: The dating apps company, led by Tinder, posted a net profit of $ 180.5 million or 60 cents a share in the first quarter, compared to $ 174.3 million or 57 cents a share in the same quarter last year. Revenue was $ 799 million, compared to $ 668 million in the same quarter last year (up 20%). Analysts had expected earnings of 54 cents a share and earnings of $ 794.1 million.

Although quarterly results exceeded analysts’ expectations, the company disappointed investors with its second-quarter revenue forecast of $ 810-800 million. This is while market expectations are for a higher amount of $ 836 million.

Match has also announced the appointment of a new CEO, Zynga President Bernard Kim. Kim will replace the current CEO Shar Dubey, who will continue to be a member of the board. Dubai has held various positions at Match for 16 years, and she was appointed CEO in March 2020.

13:00 – Shares of AMD climbed 6% pre-quarter, after first reporting quarterly revenue of over $ 5 billion – 70% annual growth pushed the revenue line up to $ 5.89 billion, significantly above analysts’ expectations of $ 5.1 billion.

The chip company ended the first quarter with net income of $ 786 million or 56 cents a share, compared to $ 555 million or 45 cents a share in the same quarter last year. Adjusted earnings were $ 1.13 per share, again above expectations of only 91 cents per share.

According to the forecast released by AMD for the current quarter (Monday 2022), it will also exceed the $ 6 billion in the top row – the company expects to record quarterly revenues in the range of $ 6.7-6.3 billion and $ 26.3 billion. The market expects lower revenues, of $ 4.14 billion in the quarter and $ 21.48 billion in the year as a whole.

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AMD processor

(Photo: Shatterstock)

12:20 – Lift falls 26% pre-release, following a disappointing forecast: The co-operative travel company expects to end the current quarter (Monday 2022) with revenues of between $ 950 million and $ 1 billion and adjusted EBITDA of $ 20-10 million. Analysts’ expectations for the current quarter are $ 1.02 billion in revenue and much higher adjusted EBITDA of $ 83 million.

The company also noted that as of the end of the quarter the number of drivers stands at 17.3 million, compared to 13.49 million in the corresponding quarter last year, and while the market expected 17.9 million drivers. On the plus side, driver revenue was $ 49.18, compared to expectations of $ 47.20.

At the end of the first quarter, Lift posted a loss of $ 196.9 million or 57 cents per share, compared to a loss of $ 427.3 million or $ 1.31 per share in the same quarter in 2021. In the coordinated line, Lift recorded earnings of 7 cents per share.

The adjusted earnings line was very positive, as analysts expected a loss of 7 cents per share. Revenue grew 44% to $ 875.6 million, compared to $ 609 million in the same quarter last year and above expectations of $ 848.9 million.

Upper competitor Uber responded to Lift’s report of a 10% drop in late trading, and responded immediately with a surprising announcement: Uber decided to bring forward the publication of its report scheduled to go out tonight after closing to the pre-opening phase, and the stock was immediately reduced to minus 4%.

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(Photo: Shatterstock )

11:00 – European stock markets are trading in moderate declines, awaiting the Fed’s decision: the Dax and Potsy are down 0.4%, the Kak is down 0.2% – the Hang Seng is down 1.4% (Tokyo and Shanghai are on holiday).

Strong declines are recorded in shipping stocks in Europe, against the background of the disappointing report released tonight in New York Lift Company: Just It loses 3.7% and Delivero drops 3.1% in London – Delivery Hiro weakens 2.3% in Frankfurt.

08:40 – WTI crude rose 1.2% to $ 103.7 a barrel, while gold weakened slightly – 0.3% to $ 1,864.4 an ounce.

07:50 – Trading in Asia today is only partially conducted, as stock exchanges such as Japan and China are at large. In any case, the eyes of investors all over the world are married For the Federal Reserve’s interest rate decision To be published today at 21:00 (Israel time), when an increase of 0.5% is expected as part of the US Federal Reserve’s war on inflation.

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Fed Chairman Jerome Powell

(Photo: AP)

Stock markets do trade, with Hong Kong declining by 1.3%, with Tencent and Alibaba shares leading the negative with a 3% decline. Cospi is down 0.1%, and the Australian Stock Exchange is down 0.1%. The regional MSCI index weakened by 0.3%.