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Adani Group chairman Gautam Adani Touting February 3, 2023, as an eventful day might be an understatement for the Adani Group. A stunning recovery from the worst-ever intraday fall in Adani Enterprises' stock to Finance Minister Nirmala Sitharaman's first comments on the entire Hindenburg-Adani fiasco , there was a lot of action. After falling 35 percent intraday, Adani Enterprises closed in the red on NSE – down 2 percent – while on BSE it was over a percent higher. Adani Ports closed 5 percent higher on the NSE at Rs 488.40 after falling to Rs 395 intraday. ACC and Ambuja Cements gained 5 percent and 4 percent, respectively. Meanwhile, Adani Total Gas and Adani Wilmar ended at a 5 percent lower circuit. Here's a recap of all that happened, starting from pre-market developments ASM Framework Read More Pre-market open, the big news was National Stock Exchange (NSE) placing Adani Enterprises, Adani Ports and Ambuja Cements under an additional … [Read more...] about Adai Group stocks: A recap of everything that happened on February 3

Share to Twitter Share to Linkedin Friday’s amazing job numbers — which continue to hit it out of the park — mean that no matter how often Wall Street talks itself into a Fed rate pause, it’s not going to happen any time soon. Barring a crash in commodity prices, inflation will need to fall to 5% before the Fed hits the brakes. “The fed will hate this set of numbers,” says Brian McCarthy, head of investment research firm Macrolens in Stamford, Conn. “January payrolls are always wonky due to annual revisions and an extreme seasonal adjustment, but with both hourly earnings and hours worked also looking much more robust than we were led to believe last month, there is no denying a picture of continued strength in the labor market, which is at odds with a gathering stream of layoff announcements.” The Federal Reserve already raised interest rates a quarter-point this week, its eighth hike since March . Those hikes, of course, could help slow the economy. … [Read more...] about Strong Labor Market Lends Itself To More Fed Hikes, But Not For Long

Share to Twitter Share to Linkedin Topline Despite waves of layoffs hitting some of the nation’s largest employers, the unemployment rate unexpectedly fell, and the labor market added back more jobs than expected in January—adding to signs the economy may not be slowing down enough enough for the Federal Reserve to back away from its aggressive campaign to tame rising prices. Key Facts Total employment increased by 517,000 in January—significantly more than the 187,000 new jobs economists were expecting, according to data released Friday by the Labor Department. Despite growing announcements of corporate layoffs last month, the unemployment rate fell to 3.4%—coming in below expectations for it to tick up to 3.6% and instead hitting the lowest level since 1969. "While we have seen many reported layoffs in the tech industry, there are other segments that are continuing to thrive," Bill Armstrong, president of recruiting at Safeguard … [Read more...] about Labor Market Added 517,000 Jobs In January—Unemployment Rate Falls To 54-Year Low Of 3.4%

Share to Twitter Share to Linkedin Netflix NFLX has revealed what its planned crackdown on password sharing in 2023 could look like in the United States. The streamer published details about password plans implemented in several other countries on a U.S. help page (accidentally, at first) on Wednesday and said it would begin a similar program domestically by second quarter. Netflix has long claimed that password sharing, or allowing those outside the immediate family to use a password to access the streamer’s programming, has dramatically cut into its potential user base. Now, subscribers will need to pay a small fee to add a new user to their account. They will also be required to watch something once a month from home Wi-Fi to log a consistent home address, allowing Netflix to track where the passwords are being used. The streaming giant has predicted the changes could lead some users to cancel their service. That’s certainly one … [Read more...] about How Netflix Crackdown On Password Sharing Might Play Out

Share to Twitter Share to Linkedin NextEra Energy Inc. stock (NYSE: NEE), a provider of electricity-related energy services, has declined by 11% over the last ten trading days (two weeks) and currently stands at around $74. Its principal subsidiary, FPL, is a rate-regulated utility engaged primarily in the generation, distribution, transmission, and sale of electric energy. Investors were underwhelmed by NextEra’s results and outlook for 2023. While Q4 operating revenue grew to $6.16 billion (up from $5.05 billion in the year-ago period), it missed analysts’ expectations for $6.3 billion in revenue. However, adjusted earnings grew by 24% year-over-year (y-o-y) to $0.51 per share and were above analyst expectations of $0.49 per share. Looking ahead, the company mentioned that it will continue growing at a healthy rate for a utility, albeit at a slower pace than last year. It anticipates adjusted earnings to rise in the range of $2.98 to $3.13 per share this year, … [Read more...] about NextEra Energy’s Stock To Likely Rebound After Falling 11% Over Ten Days

Share to Twitter Share to Linkedin eBay (NASDAQ: EBAY) is scheduled to report its fiscal Q4 2022 results on Wednesday, February 22, 2023. We expect the stock to edge past the consensus estimates of earnings, while revenues will remain in line (just below) with the expectations. The company reported mixed results in the last quarter. Its top line declined by 5% y-o-y to $2.4 billion, mainly due to a decline in website traffic and weakness in international markets. Notably, the website traffic suffered in 2022 due to the normalizing of consumer behavior, in comparison to the levels seen during the Covid-19 pandemic. Further, the key metric - Gross Merchandise Volume decreased 11% y-o-y in Q3. We expect the same trend to follow in the fourth-quarter results. Our forecast indicates that eBay’s valuation is $51 per share, which is 2% above the current market price of around $50. Our interactive dashboard analysis on eBay’s Earnings Preview has more … [Read more...] about EBay Stock To Meet The Revenue Expectations In Q4

Share to Twitter Share to Linkedin CVS Health (NYSE: CVS) is scheduled to report its Q4 2022 results on Wednesday, February 8. We expect CVS stock to trade sideways post the results announcement, with Q4 revenue likely falling marginally below and earnings aligning with the consensus estimates. While we expect the company to post steady growth for its healthcare and pharmacy services businesses, higher costs and lower contributions from the Covid-19 vaccine administration likely weighed on its overall performance. Although we expect CVS to report a mixed Q4, CVS stock looks undervalued, as discussed below. Our interactive dashboard analysis on CVS Health’s Earnings Preview has additional details. (1) Revenue expected to be marginally below the consensus estimates Trefis estimates CVS’ Q4 2022 revenues to be around $76.0 billion, reflecting no growth, and it compares with the $76.2 billion consensus estimate. While CVS’ Covid-19 vaccine … [Read more...] about Will CVS Health Stock Rise Post Q4 Results?

Share to Twitter Share to Linkedin Topline Starbucks’ stock slid Thursday afternoon after the company missed its quarterly revenue estimate, in part because of an immense drop in sales across China as the country grappled with tight lockdowns followed by a renewed surge in the spread of the virus, resulting in reduced commerce that hurt retail businesses across the country—one of Starbucks’ largest markets. Key Facts The company reported $8.71 billion in quarterly revenue, setting a new record but falling short of Wall Street’s $8.78 billion estimate. Sales in North America rose 10% but tumbled 13% internationally, largely due to an eye-popping 28% decline in China. Starbucks also missed on earnings per share, reporting 75 cents after analysts expected 77 cents. The company’s share price declined more than 3% in after-hours trading to $105.81. Crucial Quote “We posted today’s strong results despite challenging global consumer … [Read more...] about Starbucks Stock Drops After Massive Decline In China Sales

Share to Twitter Share to Linkedin Apple just blamed its weakest quarter in years on forces outside its control. But something else could be behind Apple’s 5% drop in sales for the most recent quarter. Apple is violating one of the most basic requirements for growth: customers will switch to the product that offers them the most value. Based on listening to my undergraduate students this week, many are feeling like fools for being locked in — via the iPhone — to Apple’s “ecosystem.” They would rather own a product that costs less and works better. Apple’s business is dependent on essentially jailing its customers within its ecosystem. The iPhone is a 15 year old product — that accounted for 56% of Apple’s revenues in the latest quarter. It competes in a declining smartphone industry — shipments were down 18% in the latest quarter, according to the Wall Street Journal . Apple’s growth problem is not really due to macroeconomics or supply chain … [Read more...] about With Revenue Down 5.5%, Tim Cook Presides Over Shrinking Apple

Adani group's stocks have nosedived after the Hindenburg report's release Amid massive stock rout for almost a week in most of Adani group stocks, the National Stock Exchange (NSE) has put Adani Enterprises , Adani Ports and Ambuja Cements under additional surveillance measure (ASM) framework effective February 3, 2023 to curb short-selling. NSE, in its circular released on February 2, noted that applicable rate of margin shall be 50 percent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100 percent w.e.f. February 6, 2023 on all open positions as on February 3 and new positions created from February 6. The ASM list is a list of securities that get monitored due to factors like price fluctuation, volatility, volume variance, etc. Stocks that are shortlisted for inclusion on the ASM list serve as a warning to investors about unusual price movement. There are certain trading restrictions on these stocks to put an end to any potential … [Read more...] about NSE puts Adani Enterprises, Adani Ports, Ambuja Cements under ASM framework amid stock rout