● 기업단신
Goldman Sachs — The bank slid more than 2% after reporting earnings-per-share and revenue that missed Wall Street estimates Tuesday.
Pfizer — Wells Fargo downgraded the pharmaceutical giant to equal weight from overweight on Monday, saying the company needed a reset from the pandemic for shares to work again. Pfizer was down 1.25% in the premarket.
Morgan Stanley — Morgan Stanley’s earnings topped Wall Street expectations Tuesday, thanks, in part to record wealth management revenue. Shares were 1% higher in the premarket.
Vodafone — The U.K. telecommunications company rose nearly 2% in the premarket. On Monday, Ghana approved Vodafone’s sale of 70% of its stake in Vodafone Ghana to Telecel Group. On Thursday, Vodafone was upgraded to buy by Bank of America, which said it was optimistic about the company’s prospects amid CEO Nick Read’s departure.
Global Payments — Morgan Stanley upgraded Global Payments to overweight from equal weight on Tuesday, citing a more favorable competitive backdrop and attractive valuation, among other things. The company gained 2% in the premarket.
Church & Dwight — Morgan Stanley upgraded the consumer goods maker to overweight from equal weight and boosted its price target to $91 from $82. Church & Dwight gained more than 1% in the premarket.
Cheesecake Factory — The restaurant chain slid more than 3% after being downgraded by Citi to neutral from buy, which said shares are near its price target. Cheesecake was also downgraded to hold by Gordon Haskett.
Bloomin’ Brands — The Outback Steakhouse parent slid nearly 2% after being downgraded to hold by Gordon Haskett, which cited the company’s increasing balanced risk/reward profile.
Roku — Roku shares dipped 1.8% after Truist downgraded the company to a hold from a buy rating, saying that the streaming stock is hypersensitive to a tough macro environment given that a large chunk of revenues are tied to advertising.
Snap — JMP Securities downgraded the company to market perform from market outperform, citing declining time spent on Snap and increased competition from Reels and YouTube shorts. Snap slid 1.4% in the premarket.
Alibaba — Activist investor Ryan Cohen built a stake in the Chinese e-commerce giant, according to the Wall Street Journal. Cohen is pushing the company to increase its stock buyback program, the report said. Shares were higher by 0.5% in the premarket.
Reynolds Consumer Products — Shares fell about 1.3% after Credit Suisse downgraded the household goods maker to neutral from outperform, saying share gains are now baked into the stock price.
Whirlpool — Shares dropped 3% after Whirlpool said it will divest a majority of its EMEA business, and form a new business focused on Europe with Turkish household appliances maker Arcelik. Whirlpool will own 25% of the new entity, while Arcelik will own 75%.
● Empire State Manufacturing Index
● 이번 주 실적발표
● 장전 상황
The Dow Jones Industrial Average fell Tuesday as investors struggled to keep building on early 2023 momentum and weighed the latest earnings results.
The blue chip stock index lost 140 points, or 0.4%. The S&P 500 dropped 0.3%, while the Nasdaq Composite slid 0.3%.
Goldman Sachs reported a smaller-than-expected profit for the fourth quarter, sending the stock down more than 2%. The bank’s results were pressured by declines in investment banking and asset management revenues. Meanwhile, rival Morgan Stanley posted better-than-expected numbers thank in part to record wealth management revenue.
Those results come after other major banks such as JPMorgan and Citigroup reported mixed quarterly results.
“The rally this year has been led by low quality and heavily shorted stocks. However, it’s also witnessed a strong move in cyclical stocks relative to defensive ones. This move in particular is convincing investors they are missing something and must re-position,”according to Mike Wilson, chief U.S. equity strategist at Morgan Stanley.
Federal Reserve has stuck with its plan to keep raising rates to bring inflation down, recent data show consumer prices cooling off, even as the job market remains robust. While investors await the Fed’s next rate decision, on Feb. 1, in the meantime they will be processing the first wave of quarterly earnings reports. Several big banks reported Friday, as did Delta Air Lines. Tuesday brings more banks before the bell (see below) and United Airlines after the close. Procter and Gamble and Netflix report Thursday.
● Electric vehicles marked a global sales milestone. EVs accounted for 10% of new cars sold globally in 2022, with the market segment recording particularly strong growth in Europe and China.
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● China’s population falls
China’s population fell last year for the first time since the 1960s. Mainland China’s population declined by 850,000 to 1.41 billion, China’s National Bureau of Statistics reported, factoring in 9.56 million births and 10.41 million deaths. The update comes days after China reported that 60,000 people, mostly senior citizens, died from the coronavirus since early December, as the country eased its “zero Covid” policy. And while China reported stronger-than-expected GDP growth for 2022, the latest population numbers indicate that concerns about demand in the country could linger for years. China is also on the verge of losing its title of the world’s most populous country, with India right on its heels.
* 필자의 생각: 그러지 않아도 중국-아프리카 이야기가 솔솔 나오더만…이젠 아프리카인가? 근데 인프라가…
● Auto industry predictions
Here’s something for investors to “clip and save” for this year: 10 predictions for the auto industry from Cox Automotive. We won’t give much of it away here, but if you’ve been tracking the business, you might have a good idea where the predictions are pointing already. Expect some trends to persist this year, although others are primed to reverse, particularly when it comes to the supply chain. “We’re swapping a supply problem for a demand problem,” said Cox’s chief economist, Jonathan Smoke.
● Microsoft is expanding access to OpenAI tools.
DALL-E 2, ChatGPT, and other AI-powered software will soon become available to Azure OpenAI customers.
Apple announces new Macs with its most powerful chips yet
Apple announced new Macs on Tuesday that can be purchased with either M2 Pro or M2 Max chips, the most powerful Apple silicon yet. The company unveiled refreshes to its 14-inch and 16-inch MacBook Pro laptops, both of which can now be configured with the latest processors.
Apple also announced an update to its Mac mini computer with support for the new chips.
● Netflix doubled down on K-content. Buoyed by the success of shows such as Squid Games and Extraordinary Attorney Woo, the streaming platform is adding 34 new and returning South Korean titles to its 2023 rota.
