● 기업단신
Roblox — Roblox shares fell 6.7% after Morgan Stanley downgraded the gaming company to underweight from equal weight and said the upside is limited following the stock’s recent outperformance.
Discover — The online bank lost 7.3% despite beating expectations for per-share earnings and revenue. Discover boosted its provision for credit losses compared to the prior year, potentially signaling that it sees a weaker economy ahead.
CureVac — The biopharmaceutical company jumped 8.2% following an upgrade to buy from neutral by UBS, which said Phase 1 results for a treatment that uses mRNA for influenza saw a “major infection point.”
Alcoa — The aluminum maker slid 6.4% after reporting net losses for the most recent quarter, saying high costs for energy and raw materials, paired with low aluminum pricing, dragged on earnings.
Chegg — The digital learning platform gained 2.5% following an upgrade to overweight from standard weight by KeyBanc. The firm cited the potential for EBITDA upside.
Charles Schwab — Shares of the brokerage firm fell 3% after Charles Schwab was double downgraded to underperform from buy at Bank of America. The bank said in a note to clients that Schwab’s growth would decline this year as customers adjust their portfolios to higher interest rates.
Procter & Gamble — The consumer goods giant shed more than 2% after reporting mixed quarterly results before the bell. P&G’s adjusted earnings per share for the fiscal second quarter matched expectations at $1.59, but total revenue of $20.77 billion slightly topped estimates of $20.73 billion.
Philip Morris — Shares of the tobacco company rose more than 1% after Jefferies upgraded the stock to buy from hold and raised its price target. The Wall Street firm said it’s bullish on Philip Morris’ efforts to acquire oral nicotine company Swedish Match.
Apple — Shares slid 1.2% after JPMorgan cut its price target on Apple and said the technology company had a tough setup going into earnings from supply headwinds.
Ford — The automaker fell 1.2% after Evercore ISI cut its price target on the stock, noting that automakers could struggle if a recession comes but see sales come back in the three to six months following.
Boot Barn — UBS raised its price target on the stock ahead of the company’s quarterly earnings report. UBS said investor sentiment should remain unchanged and doesn’t expect Boot Barn’s earnings release to be a catalyst. The stock slid 0.6% despite the target increase, however.
● Jobless Claims
● Housing Starts and Permits
● Philadelphia Fed Manufacturing Index
● 장전 상황
Wednesday was rough all around for stocks. The Dow had its worst day since mid-December, while the Nasdaq saw its seven-day winning streak snapped. Bank stocks weighed on markets, as did weak economic data: Holiday retail sales disappointed, and the producer price index, a measure of wholesale inflation, was softer than expected. On Thursday, investors will be listening to Fed speakers, including Vice Chair Lael Brainard, and parsing the latest wave of big earnings, including Procter and Gamble (before the bell) and Netflix (after the close).
● Tech talk in Switzerland
Treasury Secretary Janet Yellen and Chinese Vice Premier Liu He met in Zurich for high-level economic talks. “During the candid, substantive, and constructive conversation, they exchanged views on macroeconomic and financial developments,” said a readout from the Treasury Department. The Chinese government’s summation of the meeting offered a more specific point, saying Yellen and Liu discussed U.S. tech policy. The Biden administration has banned U.S. businesses from working with Chinese entities on higher-end semiconductors, while it has also continued the Trump-era tariffs on China. The Chinese government “hopes the U.S. side pays attention to the policies’ impact on both sides,” the Chinese readout said.
* 필자의 생각: 밑줄 친거 읽어보면 여기서 누가 더 다급한지 나오는구나…ㅋ
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● Why Apple is dodging layoffs
Tech companies have slashed tens of thousands of jobs over the past year. Amazon is in the process of laying off about 18,000 employees, while Microsoft said this week it would cut about 10,000 positions. Google parent Alphabet and Facebook owner Meta have also laid off workers. But Apple is bucking the trend. The iPhone maker, unlike others in Silicon Valley, didn’t ramp up hiring during the pandemic, and so far has avoided announcing major layoffs. CNBC’s Kif Leswing and Gabriel Cortes break down this phenomenon in a series of charts here.
● Mile High hopes for EVs
Rental car giant Hertz has become one of the major players pushing for the expansion of electric vehicle usage. On Thursday, the company announced a broad partnership with Denver that will see it add about 5,000 EVs to its fleet in the city, while it will also install EV charging stations at the airport and around Denver, with an emphasis on underserved communities. “I’m always worried about equity and how communities are left behind,” Denver Mayor Michael Hancock told CNBC. “Electrification is, I think, one advance in the move towards sustainability that’s going to move faster.” Hertz is hoping to expand the program to other cities, as well.
● Africa will get a new $1 billion spaceport in Djibouti
Africa could soon get a new spaceport after Djibouti signed a partnership deal with Hong Kong Aerospace Technology to build a facility to launch satellites and rockets in the northern Obock region.
According to the preliminary deal, the Djibouti government will “provide the necessary land (minimum 10 sq km and with a term of not less than 35 years) and all the necessary assistance to build and operate the Djiboutian Spaceport.”
The spaceport, expected to include seven satellite launch pads and three rocket testing pads, will be the first orbital spaceport on the continent.
* 필자의 생각: 또 아프리카에, 또 중국이냐….
