Lyft — The ride-sharing company cratered 31.5% after issuing weak guidance in its fiscal first-quarter earnings report. Lyft said it anticipates about $975 million in revenue, lower than the $1.09 billion analysts expected, according to StreetAccount. Several analysts subsequently downgraded the stock.
Expedia — The travel company’s shares fell 2.4% after a disappointing quarterly earnings report. The company reported adjusted earnings per share of $1.26 on revenue of $2.62 billion. Analysts had estimated earnings of $1.67 per share on revenue of $2.70 billion, according to Refinitiv.
Yelp — The consumer review platform gained more than 5% in the premarket after it posted fourth-quarter revenue of $309 million, topping analysts’ expectations of $307 million. Earnings per share were in line with estimates.
Cloudflare — The cloud service provider posted quarterly earnings that beat expectations after the bell Thursday. Cloudflare was up nearly 8% in the premarket.
Freyr Battery — Shares of the battery manufacturing company rose 4% after Bank of America initiated coverage of the stock with a buy rating. The Wall Street firm said Freyr is months away from its first major catalyst, manufactured cells.
Affirm — Affirm shares shed 3.7% before the bell after Morgan Stanley downgraded the buy-now-pay-later stock to equal weight from an outperform rating following its latest earnings results. According to the Wall Street firm, Affirm’s offering appears too limited.
Deutsche Bank — Shares of the German bank dipped more than 3% in pre-market trading after Deutsche Bank was downgraded to underperform from neutral at Bank of America. The investment firm said in a note to clients that Deutsche Bank’s growth remains “volume reliant” and that other European peers were more attractive.
DexCom — The medical device company gained 3.5% in the premarket after reporting adjusted earnings-per-share of 34 cents, versus the 27 cents expected by analysts, per StreetAccount. Revenue also beat expectations. Earlier this week, DexCom unveiled its Super Bowl ad featuring Nick Jonas.
Newell Brands — The parent company of Rubbermaid and Yankee Candle slumped 7.5% after reporting earnings that missed analysts’ expectations. CEO Ravi Saligram said the company was impacted by a tough operating environment, including slowing consumer demand.
● 장전상황
U.S. stocks were lower Friday morning after a batch of disappointing quarterly reports, as Wall Street heads for a weekly loss.
S&P 500 futures shed 0.5%, while Nasdaq-100 futures slid 0.8%. Futures linked to the Dow Jones Industrial Average also fell 116 points, or 0.3%.
All major averages are on track to end the week with losses. Down 1.3% this week, the S&P 500 is poised to snap its two-week winning streak and post its worst weekly performance since December. The Dow and Nasdaq Composite are on pace to lose 0.7% and 1.8%, respectively.
“This week has been more of a recovery — a more normalization, in our eyes — that it’s not baked in, necessarily, that a soft landing is in the cards,” said Stephanie Lang, chief investment officer at Homrich Berg.
● The US is mulling sanctions over the Chinese spy balloon.
Companies that supplied parts to Beijing’s suspected surveillance program could face repercussions.
“We’re exploring taking action against PRC entities linked to the PLA that supported the balloon’s incursion into U.S. airspace. We’ll look at continuing these broader efforts to expose and to address the PRC’s larger surveillance activities that pose a threat to our national security and that to our allies and partners as well.” —Ned Price, the State Department spokesperson said on Thursday
* ” I spy with my little eye” ㅋㅋㅋ
● Disney’s Hulu dilemma
Bob Iger just kept making news this week. After unveiled a broad restructuring of Disney, including billions of dollars in cost cuts and 7,000 layoffs, the CEO spelled out his vision in an exclusive interview with CNBC’s David Faber. While Disney’s shares slid more than 1% Thursday during a broader market selloff, Iger’s message resonated on Wall Street. Activist investor Nelson Peltz even called in to CNBC after the Faber-Iger interview to say he was dropping his proxy fight against Disney. But the most eyebrow-raising part of the interview had to be when Iger, who wants to focus less on general entertainment, signalled he was open to potentially selling the rest of Disney’s stake in popular streaming service Hulu. Disney owns two thirds of it, and Comcast owns the other third. It’s been long expected that Disney would buy the rest of it in 2024, but Iger’s comments marked a huge shift in strategy, as CNBC’s Alex Sherman and Lillian Rizzo report.
● Yahoo is laying off more than 20% of its workforce.
A majority of the cuts will target its 1,600-strong ad tech unit, according to Axios.
● General Motors signed a deal to secure a US-based supply of chips.
GlobalFoundries will manufacture the semiconductors at its upstate New York facilities, helping the automaker control costs for the critical component.
● Russia to cut oil output
Russia will reduce its oil output by 500,000 barrels per day in March, according to a top government official. The move follows Western nations’ bans on Russia’s oil and oil products as Vladimir Putin’s forces continue their invasion of Ukraine. The production cut amounts to about 5% of Russia’s most recent crude oil output. Oil prices jumped on the news. Meanwhile, Russia has continued its aerial onslaught on Ukraine, while Moldova said a Russian missile violated its airspace.
● Adidas’ Yeezy hangover
The ghost of Ye continues to haunt Adidas. The company said it could lose about $1.3 billion in revenue this year if it can’t sell the rest of its stock of Yeezy products. The German company terminated its partnership with the rapper and fashion designer formerly known as Kanye West in October, after he made several racist and antisemitic comments. Adidas said that it’s still trying to figure out what to do with all Yeezy product, saying it has already experienced a “significant adverse impact” for not selling it off. The company could write it off, as well. Shares of Adidas fell more than 10%.
* Kanye와 계약해지 이유가 ‘차별’이라고 했던가? 근데 아디다스 창업형제도 나치당원이었다는…
