● Personal Income and Outlays
● 기업단신
Intel — The chipmaker suffered a 9% loss in its shares in early morning trading after its latest financial results missed analysts’ estimates and showed significant declines in the company’s sales, profit and gross margin. The company also forecasted a loss for the current quarter.
Advanced Micro Devices — Chip stocks such as Advanced Micro Devices fell as a group following Intel’s results. Shares of Advanced Micro Devices fell nearly 2.4%, while shares of Nvidia and Micro dipped about 1.5% each.
Chevron — Shares dipped more than 1% after Chevron reported its latest earnings results. The oil producer missed earnings expectations, but topped revenue forecasts, according to consensus estimates from Refinitiv. The shares had gained on Thursday after Chevron raised its dividend and announced a buyback plan.
American Express — Shares of the credit card company rose 5% despite weaker-than-expected results for the fourth quarter. American Express reported $2.07 in earnings per share on $14.18 billion of revenue. Analysts surveyed by Refinitiv were looking for $2.22 per share on $14.22 billion of revenue. However, American Express’ guidance for 2023 was better than anticipated for earnings and revenue. Also, AMEX said it would be increasing its dividend by 15%.
Ralph Lauren — Shares fell more than 3% after BMO Capital Markets downgraded the stock to underperform. The investment firm said Ralph Lauren’s recent rally has gone too far.
Chewy — Chewy shares rose more than 4% after Wedbush upgraded the stock to outperform from neutral.
Silvergate Capital — The bank to crypto businesses slid about 8% after the company suspended payments on its Series A preferred stock dividend, in an effort to preserve capital as it navigates recent crypto market volatility. The stock has been falling since November, after crypto exchange FTX, for whom Silvergate held deposits, collapsed in scandal.
Visa — The payment network operator reported strong financial results for its most recent quarter, including adjusted earnings per share of $2.18 and revenue of $7.94 billion. Analysts expected $2.01 per share in adjusted earnings and $7.70 billion in revenue, according to Refinitiv. Visa shares rose about 1% in premarket trading.
Hasbro — Shares of the toy maker slid more than 5% after the company said it would eliminate around 1,000 employee positions and warned of weak holiday-quarter results. The layoff of around 15% of its global workforce comes as the company seeks to save between $250 million and $300 million annually by the end of 2025.
KLA — Chip maker KLA Corporation declined about 4.6% after issuing weaker-than-expected forward guidance for its fiscal third quarter. Otherwise, KLA reported a beat on earnings and revenue expectations.
● 장전상황
The S&P 500 fell slightly on Friday, but the index fought to cap off a winning week that saw better-than-expected economic growth and a pop in market-darling Tesla.
The S&P 500 dipped 0.16%, while the Nasdaq Composite fell 0.18%. The Dow Jones Industrial Average last traded flat.
Earnings season continued, with Intel slumping more than 10% following a dismal earnings report that missed on the top and bottom lines. Strong guidance boosted American Express 7% despite a top-and bottom-line miss.
Stocks rose during regular trading Thursday, cheering a better-than-expected fourth quarter gross domestic product report that stoked hopes that the U.S. economy can experience a soft landing as the Federal Reserve hikes rates to tame inflation.
The Dow Jones Industrial Average gained more than 205 points, or 0.61%, notching its fifth consecutive winning session, the first streak of that length since October. The S&P 500 rose 1.10% and the tech-heavy Nasdaq Composite jumped 1.76%.
●Bed Bath & Beyond defaults
Bed Bath & Beyond is heading for a reckoning. The struggling home goods retailer said Thursday it had defaulted on a credit line with JPMorgan, and warned that it lacks the cash to pay down its debts. Once again, Bed Bath warned of a potential bankruptcy filing, which is looking more likely by the day. Its shares tanked Thursday, and are down about 80% in the past 12 months, despite the best efforts of some die-hard meme stock traders. Its market value stands at a mere $295 million. Bed Bath’s board also appointed Carol Flaton, who is known as a restructuring expert, as an independent director, effective immediately. She will be paid $30,000 a month, “payable in cash in advance,” according to a securities filing.
●LVMH and H&M earnings stood at polar opposites of the fashion spectrum.
One of the world’s most valuable luxury groups withstood global headwinds better than one of the world’s largest fast-fashion retailers.
French multinational LVMH, which owns brands like Tiffany’s, Christian Dior, Sephora, and Moët, had a “record year” in 2022, it said in a press release yesterday (Jan. 26). It recorded revenue of €79.2 billion ($86.2 billion) in 2022 and profit from recurring operations of €21.1 billion ($23 billion), both up 23%.
Meanwhile, Swedish fast fashion retailer H&M—the second-largest fast fashion retailer after Inditex, the parent company of brands like Zara, Massimo Dutti, and Bershka— wasn’t so resilient. Its net profit for the year ending Nov. 30 fell 68% from the year prior to 3.6 billion Swedish kronor ($349 million).
● COVID-19
The World Health Organization (WHO) is reviewing the state of the pandemic after gathering its emergency committee for the 14th time since the covid outbreak began.
Discussion today (Jan. 27) will focus on whether the pandemic still warrants the definition of a public health emergency of international concern (PHEIC), the highest risk level. The decision, expected to be announced Monday (Jan. 30), is ultimately for WHO director-general Tedros Adhanom Ghebreyesus to make, though he has consistently followed the committee’s advice.
- 665 million: Covid cases recorded worldwide since January 2020
- 6.8 million: Covid deaths recorded worldwide since January 2020
- 11: Emergency Use Listings issued for covid vaccines
- 13 billion: Vaccine doses administered worldwide as of Jan. 24, 2023, to more than 5 billion people
