● 기업단신
JPMorgan — The bank reported fourth-quarter earnings and revenue before the bell that topped Wall Street expectations. However, it said a mild recession is now the “central case.” JPMorgan slid nearly 3% in permarket trading.
Lockheed Martin — Goldman Sachs downgraded the defense contractor to sell from neutral and cut its price target by $56 to $332. The Wall Street firm noted that the company is vulnerable to any changes in government budgets. Lockheed Martin tumbled more than 3% in the premarket.
Virgin Galactic Holdings — The space tourism company surged nearly 16% after it said it was on track for a commercial launch in the second quarter of 2023.
Wells Fargo — The bank slid nearly 4% after reporting shrinking profits, weighted down by a recent settlement and the need to build-up reserves.
Delta Air Lines — The airline reported fourth quarter profit and revenue before the bell that beat expectations. Its adjusted earnings per share came in at $1.48 versus a Refinitiv estimate of $1.33. Delta was down 4.5% in premarket trading.
American Airlines — A day after gaining nearly 10% on an earnings beat, the airline was down about 2% in the premarket.
Tesla — The electric-vehicle maker slid nearly 6% in the premarket after it was downgraded by Guggenheim to sell from neutral over concerns with Tesla’s fourth-quarter estimates. Tesla also cut prices in the U.S. and Europe again, according to listings on the company’s website Thursday night. The stock lost 65% in 2022.
Bank of America – The bank reported earnings per share of 85 cents last quarter, above the 77 cents a share expected by analysts, per Refinitiv. Revenue also beat expectations. However the bank’s net interest income fell slightly below expectations despite jumping interest rates. Bank of America was down 2.8% early trading.
Salesforce — The software company slid 1.4% in the premarket after being downgraded by Atlantic Equities to neutral from overweight. The Wall Street firm cited execution concerns, management exodus and slower-than-expected revenue growth.
Caterpillar — Bank of America upgraded Caterpillar to buy from neutral, saying the company has an underappreciated roadmap that can drive outperformance. Caterpillar was relatively flat in the premarket.
Logitech International — The keyboard and mouse maker continued to slide in the premarket, down nearly 5%. The move comes a day after Logitech lost 16% on the announcement that preliminary results showed declining sales and earnings. Deutsche Bank downgraded the shares Friday.
● Import and Export Prices
● 장전 상황
Dow falls 200 points as bank shares decline on recession fears.
The stock market was set to end a winning week on a sour note as JPMorgan Chase led a decline in bank shares after it warned a recession was its base case for the year.
The Dow Jones Industrial Average fell 303 points, or 0.9%, on Friday morning, while the S&P 500 slid 1%. The Nasdaq Composite dropped 1.1%, and was on pace to snap a five-day win streak.
JPMorgan Chase posted revenue that beat expectations, but the bank warned it was setting aside more money to cover credit losses because a “mild recession” is its “central case.” The bank posted a $2.3 billion provision for credit losses in the quarter, a 49% increase from the third quarter. The stock fell more than 3%.
Wells Fargo shares fell nearly 4% after the bank reported its quarterly figures. Bank of America moved slightly lower despite reporting better-than-expected earnings for the fourth quarter.
● Tesla cuts prices in U.S., Europe
Tesla has cut the prices of some of its vehicles in the United States and Europe after wrapping up a fourth quarter that saw its deliveries fall below expectations. Tesla has long been the top dog in the electric vehicle space, but its competition is growing. Interest rates also surged last year, which made financing new cars more expensive for consumers. Tesla CEO Elon Musk is also widely considered to have damaged the company’s brand due to his chaotic, controversial and high profile takeover of Twitter. Shares of Tesla are about flat so far in January after falling more than 60% in 2022.
● Tim Cook takes a pay cut
Tim Cook asked for a pay cut, and that’s what he got. The Apple CEO requested the downgrade after a board vote on his pay package – and after a bad year for the company on the stock market. But 2022 wasn’t kind to much of the tech world, either, and the board said it maintained its confidence in Cook. So what does Cook’s pay cut look like? Last year, he made a total of $83 million in stock awards, $12 million in incentives and $3 million from his salary. This year, he’s set to make $49 million in total compensation.
* 필자의 생각: CEO가 나서서 거의 지난 해의 절반 수준으로 깎겠다는데, 연봉 투쟁을 하거나 회사 출근 안하겠다고 버티는 덜떨이들 읍재?
● RO-RO YOUR EV GENTLY ACROSS THE OCEAN
Before a car hits the road, it likely sailed the high seas aboard a massive, specialized ship called a roll-on/roll-off car carrier, or “ro-ro” for short.
Japan has long dominated the ro-ro ship space, accounting for 40% of the world’s fleet. By contrast, Chinese ships make up barely 3% of global capacity.
But as it exports more electric vehicles, China is muscling its way into the car carrier space. The commercial advantages of operating its own fleet are many. China can control costs, offer shipping to make its cars even more competitive on pricing, and potentially deny shipping services to rival firms or countries.
Primarily, though, it’s a big bet on the continued growth of global car sales, and China’s convinced it’ll pay off.
