● 기업단신
Tyson Foods – Shares of the food processing giant suffered a 6% drop in premarket trading after the company reported weaker-than-expected results for the first quarter. Earnings came in at 85 cents per share excluding items on revenues of $13.26 billion. Analysts expected $1.34 per share in earnings and revenue of $13.52 billion, according to Refinitiv.
PayPal — Shares of the payments company fell 2.6% in premarket after Raymond James downgraded the stock to market perform from outperform. The Wall Street firm said the downgrade followed the strong start to the year that saw the stock rise more than 20%. Meanwhile, Raymond James said it holds a cautious stance on its fourth-quarter earnings set for later this week.
Children’s Place — The children’s apparel retailer shed more than 16% after management cuts its outlook for the fourth quarter as it deals with a difficult macro environment. Children’s Place also said it expects a loss per share, citing “deterioration in gross margin.”
T-Mobile — T-Mobile shares dipped more than 2% following a downgrade to market perform by analysts at MoffettNathanson, citing expectations of a slowdown in subscriber growth.
Lyft — Shares of the ride-hailing company fell about 2% in premarket trading after Lyft was downgraded to hold from buy at research firm Gordon Haskett. The firm said in a note that Lyft’s active rider metric for the fourth quarter could fall short of expectations.
Dell Technologies — Shares of the consumer technology stock gained nearly 1% before the bell following news that its cutting about 5% of its workforce as it grapples with a difficult macroenvironment.
Spotify — Shares rose more than 1% after Wells Fargo upgraded Spotify to overweight from equal weight, saying the audio streaming company is improving margins with an expected price increase ahead. Separately, Atlantic Equities also upgraded the stock to overweight.
Energizer Holdings — The battery maker’s stock fell 6% after revenue and earnings for the recent quarter fell short of expectations, according to analysts surveyed by FactSet. Energizer, meanwhile, reaffirmed earnings per share and revenue growth guidance for the full year.
● 이번 주 실적발표
● Factset
● 장전 상황
U.S. stock fell Monday as investors awaited the latest batch of corporate earnings and an important speech from Federal Reserve Chairman Jerome Powell.
The Dow Jones Industrial Average lost 105 points, or 0.3%. S&P 500 futures fell 0.5%, while the Nasdaq Composite slid 0.7%.
Investors were taking some profits after the stock market’s hot start to the year. The S&P 500 is up more than 7% for 2023. The Nasdaq Composite has advanced for the last five weeks, a streak not seen since November 2021.
Earnings could worsen further as the economy slows later this year, said Karl Chalupa, CEO of Gamma Investment Consulting. He noted that no recovery from a major bear market low has occurred in the last 60 years when stocks were not at least fairly valued.
● China confirmed another one of its balloons is flying over Latin America.
Beijing claimed that device too is being used for civilian purposes. Meanwhile, the US is looking for the wreckage of the one it shot down off the South Carolina coast.
● ‘Trending to breakeven’
Elon Musk told everyone on Twitter that he’s been through a rough time recently. “Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn’t wish that pain on anyone,” he said in a tweet thread Sunday. But, according to Musk, the toil has produced some results. He said Twitter, which has gone through large job cuts and a rocky rollout of several initiatives since Musk took it over in October, is “trending to breakeven.” Musk didn’t offer any numbers to back up his claim, and Twitter is now a private company so it’s not subject to the kinds of disclosure rules that Tesla works with. Instead, independent firms have had to suss out details of Twitter’s financial well being. So far, it hasn’t been great.
● Tesla’s Model Y got more expensive.
The electric vehicle’s cost rose after the US lifted the price ceiling for which EV buyers can access tax credits from $55,000 to $80,000
On Friday, The Treasury Department revised vehicle classification definitions to make more EVs — including SUVs made by Tesla, Ford and General Motors — eligible the full $7,500.
The rule had disqualified some higher-priced SUVs, such as GM’s Cadillac Lyriq and some versions of the Model Y, prompting complaints from Tesla and other automakers.
● Chinese retailers offered a discount on Apple’s iPhone 14 models.
The price slash of as much as 10% reflects sluggish demand for smartphones.
● LATIN AMERICA IS HOLDING ALL THE LITHIUM CARDS
German chancellor Olaf Scholz flew to Latin America last week for one enticing, silvery reason: lithium. He’s not the only world leader looking to tap the region’s reserves.
Argentina, Chile, and Brazil, the world’s so-called lithium triangle, hold vast deposits of the sought-after metal used to power everything from our phones to electric vehicles. With lithium prices soaring, and the world scrambling to secure mining contracts, Latin America’s leaders are looking to leverage their natural advantage.
In Chile, president Gabriel Boric wants to pass new mining regulations, and intends to create a state-run lithium company that will partner with private firms. Meanwhile, Bolivian president Luis Arce signed a billion-dollar deal with China last month to develop a domestic battery manufacturing sector.
Both leftist presidents aim to convert the natural resource into national wealth, but that can be a lengthy process. The question is if they can still cash in while demand is hot.
