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AOF analysis closes Wall Street – In dispersed order, April inflation in the crosshairs

(AOF) – Wall Street ended a volatile session in dispersed order. Cheap buybacks gave way to fears about inflation and China. Investors doubt the ability of the Fed to lower inflation without plunging the US economy into crisis. The specter of the “Volcker recession” of the early 1980s looms large. In this context, the markets hope Wednesday for the announcement of a slowdown in price increases in April, a sign that the peak has passed. The Dow Jones fell 0.26% to 32,160.74 points. The Nasdaq gained 0.98% to 11,737.67 pts thanks to lower rates.

Pfizer gained 1.7% to $49.5, outperforming the Dow Jones. The American laboratory has signed a new acquisition. The healthcare giant has acquired Biohaven Pharmaceutical Holding Company for $11.6 billion in cash. Biohaven is the manufacturer of Nurtec ODT, a dual action migraine treatment approved for the acute treatment and episodic prevention of migraine in adults. The group is thus using part of its fortune amassed in recent months with its vaccine and its treatment against Covid-19.

Today’s economic figures

No indicator is expected.

The values ​​to follow today

AMC Entertainment

AMC posted a loss of $337.4 million, or 64 cents per share, after a loss of $566.9 million, or $1.42 per share, a year earlier at the same time. This is the 11th consecutive quarter of loss. In adjusted data, the loss amounted to 52 cents per share, better than the -63 cents expected by the FactSet consensus. The cinema operator’s revenues have increased significantly, from 148.3 million to 785.7 million dollars, again above the consensus which saw them at 743.4 million.

Novavax

Novavax unveiled quarterly results below expectations and announced that it had delivered only 31 million doses of its Covid-19 vaccine in the first quarter out of the two billion it plans to sell this year. In the first three months of the financial year, the biotech made a profit of 203 million dollars, or 2.56 dollars per share against a loss of 223 million, or -3.05 dollars per share. Turnover stood at 704 million after 447 million a year earlier. Analysts had expected EPS of $2.69 and sales of $845 million.

Pfizer

Pfizer has signed an agreement to acquire Biohaven Pharmaceutical Holding Company for $11.6 billion in cash. Biohaven is the manufacturer of Nurtec ODT, a dual action migraine treatment approved for the acute treatment and episodic prevention of migraine in adults. Pfizer will pay $148.50 for each Biohaven share, and shareholders will also receive 0.5 shares of New Biohaven, a new publicly traded company that will retain Biohaven’s compounds in development that are not calcitonin gene-linked peptides. .

Sysco

Sysco reported fiscal third-quarter earnings of $303.3 million, or 59 cents per share, from $88.9 million, or 17 cents per share, a year earlier. Adjusted earnings amounted to 71 cents per share, for a FactSet consensus of 55 cents. The turnover of the food distributor jumped 43% to 16.9 billion dollars, against 15.995 billion expected. The group raised its adjusted EPS forecast to $3.16-3.26 for 2022, from a range of $3-3.10 previously.

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As part of a note dedicated to the automotive sector, Berenberg initiated the follow-up of Tesla stock, with a Hold recommendation and a price target of $900.

vroom

Vroom revs its engine in the pre-opening of Wall Street, where it gains nearly 50%. The specialist in the online sale of used cars has announced the immediate appointment of a new general manager in the person of Tom Shortt, who until now was the company’s chief operating officer. He succeeds Paul Hennessy, who resigned to pursue other opportunities. At the same time, Vroom also published better than expected results for the first quarter of 2022. The adjusted net loss was 71 cents per share, where the Zacks consensus was expecting -1.03 dollars.

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