Wednesday, May 18, 2022
Home Business AOF analysis closes Wall Street – A wind of concern

AOF analysis closes Wall Street – A wind of concern

(AOF) – US equity markets fell sharply on Monday. Fear of “stagflation” haunts investors. In an inflationary environment, health restrictions in China could further weaken the “supply chain” and fuel price increases. At the same time, the Fed’s strategy is causing concern and driving rates up. The central bank must find the perfect balance between monetary tightening to calm prices and flexibility to avoid recession. The Dow Jones fell 1.99% to 32,245.7 points and the Nasdaq fell 4.29% to 11,623.25 points.

The title of electric vehicle manufacturer Rivian slipped 20.94% to 22.76 dollars and is trading at its lowest levels since its IPO last November. The cause is to be found on the side of Ford, one of its largest shareholders. The latter is in the process of selling 8 million shares of Rivian, according to information reported this weekend by CNBC, which adds that JPMorgan Chase is also planning to sell 13 to 15 million shares of Rivian for an anonymous seller.

Today’s economic figures

US wholesale inventories rose 2.3% in March from February, a slowdown from the 2.8% rise in the prior period. However, this remains in line with analysts’ expectations.

The values ​​to follow today

BioNTech

BioNTech posted a profit of 3.7 billion euros during the first quarter of 2022, more than triple last year, when it reached 1.13 billion. This represents a profit of 14.24 euros per share, far ahead of the FactSet consensus which expected it at 9.16 euros. The turnover of the German biotech, listed on the Nasdaq, also more than tripled, from 2.05 billion last year to 6.37 billion last quarter, for a consensus of 4.34 billion euros. .

Coty

Coty unveiled better-than-expected quarterly results and raised its annual forecast thanks to strong demand for its luxury cosmetics. In the third quarter ended at the end of March, the American group made a net profit of 50.3 million dollars, against a loss of 18.5 million a year earlier. Excluding exceptional items, EPS came out at 3 cents against a consensus of 2 cents. Sales climbed 15.4% to 1.19 billion. Wall Street was aiming for 1.15 billion.

Rivian-Ford

The session promises to be eventful for Rivian on Wall Street. Ford is in the process of selling 8 million shares of the electric vehicle manufacturer, according to information reported this weekend by CNBC. The post-IPO lock-up period expired on Sunday.

Twitter

There’s something new on the Twitter file. Elon Musk, who has reached a buyout deal for $44 billion, would like to multiply the social network’s annual revenue by 5 to $26.4 billion by 2028. The New York Times reported on Friday, based on a document recently presented to investors by Tesla’s chief executive.

Tyson Foods

Tyson Foods posted adjusted earnings of $2.29 per share in the second quarter of its fiscal 2022 fiscal year, well above the FactSet consensus of $1.89. The turnover of the agri-food group meanwhile reached 13.1 billion dollars, up 13.4% over one year, against expectations of 12.84 billion. Beef sales increased by 23.8%, pork by 10.8% and chicken by 14.4%. Over the fiscal year Tyson is now targeting revenues of 52 to 54 billion dollars, against 49 to 51 billion previously.

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