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The Austin and Berlin plants are likely to remain a drag on results until they attain higher utilization rates, but expect volumes to rebound strongly in the second half of the year, Garrett Nelson, senior equity analyst at CFRA Research, said.
[ { "end": 237, "label": "Neutral", "start": 224, "tag": "Neutral", "value": "CFRA Research" } ]
A class action lawsuit was filed on Thursday against Twitter by its employees, who argued the company was conducting mass layoffs without providing the required 60-day advance notice, in violation of federal and California law.
[ { "end": 60, "label": "Negative", "start": 53, "tag": "Negative", "value": "Twitter" } ]
But the inflows have lagged industrials year-to-date, a proxy for lower-emission energy, while actively managed funds and ESG funds are still very underweight energy, BofA said.
[ { "end": 171, "label": "Neutral", "start": 167, "tag": "Neutral", "value": "BofA" } ]
A Moscow court labeled Meta Platforms Inc <FB.O> an "extremist organisation," upholding a decision to ban Facebook in Russia. Meta's shares dropped 2.3%.
[ { "end": 114, "label": "Negative", "start": 106, "tag": "Negative", "value": "Facebook" }, { "end": 41, "label": "Negative", "start": 23, "tag": "Negative", "value": "Meta Platforms Inc" }, { "end": 130, "label": "Negative", "start": 126, "tag": "Negative", "value": "Meta" } ]
Nvidia <NVDA.O> rose 2.8% after the chipmaker gave a weaker-than-expected quarterly forecast that many investors viewed as signaling the worst of a sales downturn may be over. That drove a 2.9% rally in the Philadelphia semiconductor index <.SOX>. [nL4N3003BJ]
[ { "end": 6, "label": "Positive", "start": 0, "tag": "Positive", "value": "Nvidia" }, { "end": 239, "label": "Positive", "start": 207, "tag": "Positive", "value": "Philadelphia semiconductor index" } ]
Investment banks such as Goldman Sachs and Citi have been keeping busy this week, updating their models, highlighting heightened risks of a U.S. recession and fuelling further nervousness across global markets in the process.
[ { "end": 39, "label": "Neutral", "start": 26, "tag": "Neutral", "value": "Goldman Sachs" }, { "end": 48, "label": "Neutral", "start": 44, "tag": "Neutral", "value": "Citi" } ]
Stocks on Wall Street are down on Friday after a jobs report showed the U.S. labor market remains tight and will keep the Federal Reserve on track to sharply tighten monetary policy to cool the economy as it fights to lower inflation.
[ { "end": 137, "label": "Neutral", "start": 122, "tag": "Neutral", "value": "Federal Reserve" } ]
Though the dollar index is down about 2% from its recent high, 85% of analysts polled by Reuters said the dollar's broad strength against a basket of currencies has not yet reached an inflection point.
[ { "end": 96, "label": "Neutral", "start": 89, "tag": "Neutral", "value": "Reuters" } ]
Shares in Harbour Energy <HBR.L>, the largest producer of UK oil & gas, are down 7.6% on Friday, while EnQuest <ENQ.L> shares are lower by 9.5%.
[ { "end": 24, "label": "Negative", "start": 10, "tag": "Negative", "value": "Harbour Energy" }, { "end": 110, "label": "Negative", "start": 103, "tag": "Negative", "value": "EnQuest" } ]
"Soaring energy and food prices, coupled with falling stock prices, are a toxic combination for consumers' sentiment," notes Ian Shepherdson, chief economist at Pantheon Macroeconomics.
[ { "end": 184, "label": "Neutral", "start": 161, "tag": "Neutral", "value": "Pantheon Macroeconomics" } ]
Okta has been criticized for its reaction to the hack, especially as it emerged that the company either had known - or could have known - that there was a problem much earlier.
[ { "end": 4, "label": "Negative", "start": 0, "tag": "Negative", "value": "Okta" } ]
One of them is former Israeli policeman Aviram Azari, who was arrested by the FBI in 2019. He recently pleaded guilty in New York to wire fraud, identity theft and hacking-related charges after hiring Indian spies to target ��a large number�� of people, including New York hedge fund employees, prosecutors said in a court filing.
[ { "end": 81, "label": "Neutral", "start": 78, "tag": "Neutral", "value": "FBI" } ]
CarMax Inc <KMX.N> slumped 23.72% after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
[ { "end": 10, "label": "Negative", "start": 0, "tag": "Negative", "value": "CarMax Inc" } ]
However, thanks to vaccine rollouts and the spread of the less severe Omicron strain of COVID-19, life is returning to normal in many countries, leaving companies like Netflix and Peloton struggling to sustain high sales figures.
[ { "end": 175, "label": "Negative", "start": 168, "tag": "Negative", "value": "Netflix" }, { "end": 187, "label": "Negative", "start": 180, "tag": "Negative", "value": "Peloton" } ]
"Companies are reporting increasing headwinds from the rising cost of living, tightening financial conditions �C notably higher borrowing costs �C and weakened demand across both home and export markets," writes Chris Williamson, chief business economist at S&P Global.
[ { "end": 266, "label": "Neutral", "start": 256, "tag": "Neutral", "value": "S&P Global" } ]
But some bankers feel the ECB's approval process for buybacks is too onerous, industry sources said, adding to their frustration at the ECB's decision to shelve subsidised loans and perceived intrusiveness in operational decisions.
[ { "end": 29, "label": "Neutral", "start": 26, "tag": "Neutral", "value": "ECB" }, { "end": 139, "label": "Neutral", "start": 136, "tag": "Neutral", "value": "ECB" } ]
The downbeat outlook and a worrying earnings report from Nordic Semiconductor <NOD.OL> sparked a sell-off in the chip sector, with ASM International <ASMI.AS>, ASML Holding <ASML.AS> and Aixtron <AIXGn.DE> falling between 0.7% and 1%.
[ { "end": 194, "label": "Negative", "start": 187, "tag": "Negative", "value": "Aixtron" }, { "end": 77, "label": "Negative", "start": 57, "tag": "Negative", "value": "Nordic Semiconductor" }, { "end": 172, "label": "Negative", "start": 160, "tag": "Negative", "value": "ASML Holding" }, { "end": 148, "label": "Negative", "start": 131, "tag": "Negative", "value": "ASM International" } ]
Meanwhile, Finnish telecom equipment maker Nokia <NOKIA.HE> and rival Ericsson <ERICb.ST> reported weaker-than-expected earnings, bruised by ongoing patent battles which pressured margins and offset strong demand for 5G equipment.
[ { "end": 78, "label": "Negative", "start": 70, "tag": "Negative", "value": "Ericsson" }, { "end": 48, "label": "Negative", "start": 43, "tag": "Negative", "value": "Nokia" } ]
Investors are also nervously awaiting an impending deadline for the end of the Bank of England's emergency bond-buying programme, after the central bank stepped in last month to buy bonds to relieve pressure in the two trillion pound UK pensions sector.
[ { "end": 94, "label": "Neutral", "start": 79, "tag": "Neutral", "value": "Bank of England" } ]
The departures have hit oil service providers and contractors the hardest, said the Venezuelan Petroleum Chamber, whose members fell to 300 from 500 in the last four years.
[ { "end": 112, "label": "Negative", "start": 84, "tag": "Negative", "value": "Venezuelan Petroleum Chamber" } ]
"The concern is that rates will rise too much and slow the economy or push it into a recession," said Matt O'Connor, an analyst at Deutsche Bank, wrote in a research note.
[ { "end": 144, "label": "Neutral", "start": 131, "tag": "Neutral", "value": "Deutsche Bank" } ]
Ford <F.N> and Volvo Cars [GEELY.UL] have publicly supported the plan, and Volkswagen <VOWG_p.DE> aims to stop selling combustion engine cars in Europe by 2035. But industry groups including the European Automobile Manufacturers' Association have opposed the 2035 target, citing concerns including the uncertain rollout of chargers.
[ { "end": 85, "label": "Neutral", "start": 75, "tag": "Neutral", "value": "Volkswagen" }, { "end": 25, "label": "Neutral", "start": 15, "tag": "Neutral", "value": "Volvo Cars" }, { "end": 4, "label": "Neutral", "start": 0, "tag": "Neutral", "value": "Ford" }, { "end": 241, "label": "Neutral", "start": 195, "tag": "Neutral", "value": "European Automobile Manufacturers' Association" } ]
"Since the modern era of politics began in 1832, it's quite without precedent to see so much churn and instability," Anthony Seldon, a historian and political biographer, told Sky News.
[ { "end": 184, "label": "Neutral", "start": 176, "tag": "Neutral", "value": "Sky News" } ]
Brian Overby, senior markets strategist at Ally Financial notes that investors might be inclined to sell their shares and get out. In fact, he adds that millennials have reduced their stock holdings in the last year more than any other generation.
[ { "end": 57, "label": "Neutral", "start": 43, "tag": "Neutral", "value": "Ally Financial" } ]
Among the mega-caps, Apple Inc <AAPL.O>, Microsoft Corp <MSFT.O> and Tesla Inc <TSLA.O> were some of the biggest losers as investors dumped so-called growth stocks that drove much of the stock-market rally in the past two years.
[ { "end": 55, "label": "Negative", "start": 41, "tag": "Negative", "value": "Microsoft Corp" }, { "end": 78, "label": "Negative", "start": 69, "tag": "Negative", "value": "Tesla Inc" }, { "end": 30, "label": "Negative", "start": 21, "tag": "Negative", "value": "Apple Inc" } ]
"Incremental impulse in core too looks weak, particularly with global goods prices falling," Neelkanth Mishra, research analyst at Credit Suisse, said in a note. (Reporting by Nimesh Vora; Editing by Neha Arora) ((nimesh.vora@tr.com))
[ { "end": 144, "label": "Neutral", "start": 131, "tag": "Neutral", "value": "Credit Suisse" } ]
Nio Inc <NIO.N> fell 4.2% after the Chinese electric vehicle maker reported wider second-quarter adjusted net loss compared with a year earlier. [nL4N30E2BA]
[ { "end": 7, "label": "Negative", "start": 0, "tag": "Negative", "value": "Nio Inc" } ]
Shares of Goldman Sachs Group Inc <GS.N> dropped 4%, while other major Wall Street lenders fell over 3% each. Tesla Inc <TSLA.O> dropped 5.9% to lead losses among the mega-cap growth names.
[ { "end": 119, "label": "Negative", "start": 110, "tag": "Negative", "value": "Tesla Inc" }, { "end": 33, "label": "Negative", "start": 10, "tag": "Negative", "value": "Goldman Sachs Group Inc" } ]
"It��s very rare that I have seen such a misguided combination of policy and policy communications as the new Tory government delivered," former U.S. Treasury Secretary Larry Summers said at Citi's investment conference in Sydney.
[ { "end": 194, "label": "Neutral", "start": 190, "tag": "Neutral", "value": "Citi" } ]
Worries over the global economy deepened after chipmakers Samsung <005930.KS> and AMD <AMD.O> flagged a slump in demand, blaming inflation, higher interest rates and the impact of Russia's invasion of Ukraine. European chipmakers Infineon, STMicroelectronics and ASML fell in tandem.
[ { "end": 238, "label": "Negative", "start": 230, "tag": "Negative", "value": "Infineon" }, { "end": 85, "label": "Negative", "start": 82, "tag": "Negative", "value": "AMD" }, { "end": 267, "label": "Negative", "start": 263, "tag": "Negative", "value": "ASML" }, { "end": 258, "label": "Negative", "start": 240, "tag": "Negative", "value": "STMicroelectronics" }, { "end": 65, "label": "Negative", "start": 58, "tag": "Negative", "value": "Samsung" } ]
"I expect GDP in the euro zone to contract in the third quarter but not as much as these retail sales or PMI data suggest," said Holger Schmieding at Berenberg.
[ { "end": 159, "label": "Neutral", "start": 150, "tag": "Neutral", "value": "Berenberg" } ]
Biden's Inflation Reduction Act (IRA), which grants the tax credits, also aims to cement U.S. firms such as Tesla <TSLA.O> and General Motors <GM.N> as industry leaders and prevent the use of China-derived battery components and critical minerals.
[ { "end": 113, "label": "Positive", "start": 108, "tag": "Positive", "value": "Tesla" }, { "end": 141, "label": "Positive", "start": 127, "tag": "Positive", "value": "General Motors" } ]
eBay is expected to report a fall in quarter revenue, in the face of an increasingly challenging competitive landscape and macro environment.
[ { "end": 4, "label": "Negative", "start": 0, "tag": "Negative", "value": "eBay" } ]
The company's studio segment reported revenues of $3.1 billion, down 5% from a year earlier. The company had fewer movie releases than a year ago. Its networks segment, which includes TBS, Discovery Channel and Food Network, reported revenue of $5.2 billion, down 8% compared with a year ago.
[ { "end": 187, "label": "Negative", "start": 184, "tag": "Negative", "value": "TBS" }, { "end": 206, "label": "Negative", "start": 189, "tag": "Negative", "value": "Discovery Channel" }, { "end": 223, "label": "Negative", "start": 211, "tag": "Negative", "value": "Food Network" } ]
U.S. accounting firms that agree to lead audits of New York-listed Chinese and Hong Kong companies looking to avoid potential trading bans risk breaching U.S. rules, the U.S. Securities and Exchange Commission (SEC) warned on Tuesday. [nL1N30D1Q9]
[ { "end": 209, "label": "Neutral", "start": 170, "tag": "Neutral", "value": "U.S. Securities and Exchange Commission" } ]
JPMorgan Chase & Co <JPM.N> tumbled 5.3% on reporting weaker performance at its trading arm, even as it beat earnings expectations for the fourth quarter.
[ { "end": 19, "label": "Negative", "start": 0, "tag": "Negative", "value": "JPMorgan Chase & Co" } ]
But BCA says inflationary pressures remain relatively tame in Japan. The headline index grew 2.6% year-on-year in July -- significantly lower than other developed market economies where inflation rates are closer to double digits.
[ { "end": 7, "label": "Neutral", "start": 4, "tag": "Neutral", "value": "BCA" } ]
JPMorgan shares were down 2.8% in afternoon trading. Other bank stocks also fell. Citigroup and Bank of America were both down 0.9%.
[ { "end": 111, "label": "Negative", "start": 96, "tag": "Negative", "value": "Bank of America" }, { "end": 8, "label": "Negative", "start": 0, "tag": "Negative", "value": "JPMorgan" }, { "end": 91, "label": "Negative", "start": 82, "tag": "Negative", "value": "Citigroup" } ]
Nvidia is down 2.3% on Thursday, while AMD is losing almost 2%. The two companies are down 19% and 29%, respectively, year-to-date.
[ { "end": 6, "label": "Negative", "start": 0, "tag": "Negative", "value": "Nvidia" }, { "end": 42, "label": "Negative", "start": 39, "tag": "Negative", "value": "AMD" } ]
The Dow Jones Industrial Average <.DJI> fell 107.1 points, or 0.35%, to 30,076.68, the S&P 500 <.SPX> lost 31.94 points, or 0.84%, to 3,757.99 and the Nasdaq Composite <.IXIC> dropped 153.39 points, or 1.37%, to 11,066.81.
[ { "end": 94, "label": "Negative", "start": 87, "tag": "Negative", "value": "S&P 500" }, { "end": 32, "label": "Negative", "start": 4, "tag": "Negative", "value": "Dow Jones Industrial Average" }, { "end": 167, "label": "Negative", "start": 151, "tag": "Negative", "value": "Nasdaq Composite" } ]
S&P Global's South Africa PMI survey released on Thursday showed domestic private sector activity contracted in September as increased power cuts led to the sharpest declines this year in both output and sales. [nZRN00593P]
[ { "end": 10, "label": "Neutral", "start": 0, "tag": "Neutral", "value": "S&P Global" } ]
June 2 (Reuters) - Microsoft Corp <MSFT.O> on Thursday cut its fourth-quarter forecast for profit and revenue, citing a hit from a stronger dollar, sending the tech giant's shares down 3%.
[ { "end": 15, "label": "Neutral", "start": 8, "tag": "Neutral", "value": "Reuters" }, { "end": 33, "label": "Negative", "start": 19, "tag": "Negative", "value": "Microsoft Corp" } ]
The top 10 holdings of the fund, including Roku Inc <ROKU.O> and Coinbase <COIN.O>, are down in the range of 50% to 76% in the past 12 months, with the exception of Tesla, which has risen 25% over the past year.
[ { "end": 170, "label": "Positive", "start": 165, "tag": "Positive", "value": "Tesla" }, { "end": 51, "label": "Negative", "start": 43, "tag": "Negative", "value": "Roku Inc" }, { "end": 73, "label": "Negative", "start": 65, "tag": "Negative", "value": "Coinbase" } ]
"For the moment, disruptions to oil supply are taking a back seat to concerns of weaker demand," ANZ analysts said in a note.
[ { "end": 100, "label": "Neutral", "start": 97, "tag": "Neutral", "value": "ANZ" } ]
Shares of Germany's biggest importer of Russian gas Uniper <UN01.DE> dropped 11%, while its Finnish parent Fortum <FORTUM.HE> dipped 8.9% and utility PNE <PNEGn.DE> slipped 4.1%. [nL8N30C11S]
[ { "end": 58, "label": "Negative", "start": 52, "tag": "Negative", "value": "Uniper" }, { "end": 113, "label": "Negative", "start": 107, "tag": "Negative", "value": "Fortum" }, { "end": 153, "label": "Negative", "start": 150, "tag": "Negative", "value": "PNE" } ]
As the key holiday shopping period gets under way and with Black Friday just days away, U.S. Google searches for electronics is behind the pace of prior years, writes Jessica Rabe, co-founder of DataTrek, in a research note Tuesday. "Despite strong jobs and wage growth, high inflation is crimping Americans' holiday budgets," Rabe writes.
[ { "end": 99, "label": "Neutral", "start": 93, "tag": "Neutral", "value": "Google" }, { "end": 203, "label": "Neutral", "start": 195, "tag": "Neutral", "value": "DataTrek" } ]
Local Energy stocks <.AXEJ> skid 1.4% on lower oil prices, with oil and gas major Woodside Energy <WDS.AX> and Santos <STO.AX> dropping about 1% and 1.6%, respectively. [O/R]
[ { "end": 19, "label": "Negative", "start": 0, "tag": "Negative", "value": "Local Energy stocks" }, { "end": 117, "label": "Negative", "start": 111, "tag": "Negative", "value": "Santos" }, { "end": 97, "label": "Negative", "start": 82, "tag": "Negative", "value": "Woodside Energy" } ]
Asset managers such as BlackRock and abrdn are halting purchases of Russian securities or plan to reduce existing holdings as western governments impose tough sanctions on Russia.
[ { "end": 42, "label": "Neutral", "start": 37, "tag": "Neutral", "value": "abrdn" }, { "end": 32, "label": "Neutral", "start": 23, "tag": "Neutral", "value": "BlackRock" } ]
Rival Activision Blizzard Inc <ATVI.O> also missed market estimates for sales last week, while Electronic Arts Inc <EA.O> lowered its annual sales projection as fewer gamers picked up its new titles. [nL4N2UE32C] [nL4N2UC2XB]
[ { "end": 29, "label": "Negative", "start": 0, "tag": "Negative", "value": "Rival Activision Blizzard Inc" }, { "end": 114, "label": "Negative", "start": 95, "tag": "Negative", "value": "Electronic Arts Inc" } ]
��We are concerned that the ECB might underestimate the impact on the activity of tightening financial conditions already in train and the pipeline,�� Unicredit analysts say.
[ { "end": 30, "label": "Neutral", "start": 27, "tag": "Neutral", "value": "ECB" }, { "end": 158, "label": "Neutral", "start": 149, "tag": "Neutral", "value": "Unicredit" } ]
Wednesday's sell-off saw the S&P 500 <.SPX> close down 4% on the day, 17.7% for the year-to-date and down 18.2% from its Jan. 3 record close. [.N]
[ { "end": 36, "label": "Negative", "start": 29, "tag": "Negative", "value": "S&P 500" } ]
Morgan Stanley also lowered its forecast for India's fiscal 2022/23 growth to 7.2% from 7.6% earlier this week, citing weakening global trade. [nL4N2YZ0ZB] (Reporting by Anushka Trivedi; Editing by Sonali Desai) ((anushka.Trivedi@thomsonreuters.com; twitter @anushkat96))
[ { "end": 14, "label": "Neutral", "start": 0, "tag": "Neutral", "value": "Morgan Stanley" } ]
Global equities pulled off two-year lows on Wednesday, after the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, dampening investor fears of contagion across the financial system.
[ { "end": 80, "label": "Neutral", "start": 65, "tag": "Neutral", "value": "Bank of England" } ]
The STOXX 600 pulled back to slide 0.3% in morning trading with tech leading fallers, after a violent reaction to a disappointing outlook from Facebook parent Meta <META.O> and downbeat guidance from STM <STM.BN> .
[ { "end": 13, "label": "Negative", "start": 4, "tag": "Negative", "value": "STOXX 600" }, { "end": 151, "label": "Negative", "start": 143, "tag": "Negative", "value": "Facebook" }, { "end": 163, "label": "Negative", "start": 159, "tag": "Negative", "value": "Meta" }, { "end": 203, "label": "Negative", "start": 200, "tag": "Negative", "value": "STM" } ]
* Santhera <SANN.S> posted an operating loss of 25.5 million Swiss francs in the first half of 2022, versus a loss of 19.5 million in the year-ago period. [SANN.S]
[ { "end": 10, "label": "Negative", "start": 2, "tag": "Negative", "value": "Santhera" } ]
Bed Bath & Beyond Inc <BBBY.O> tumbled 23.6% following the retailer's announcement that it had replaced chief executive officer Mark Tritton, hoping to reverse a slump. [nL4N2YG2C9]
[ { "end": 21, "label": "Negative", "start": 0, "tag": "Negative", "value": "Bed Bath & Beyond Inc" } ]
In Qatar, the benchmark <.QSI> retreated 1.2%, ending 12 consecutive sessions of gains, weighed down by a 2.6% fall in Qatar Islamic Bank <QISB.QA>.
[ { "end": 137, "label": "Negative", "start": 119, "tag": "Negative", "value": "Qatar Islamic Bank" } ]
Additionally, AAII says that the breakpoint between typical and unusually low spread readings is now �C10.9%. "The bull-bear spread has also tied its second-longest streak of negative readings as sentiment has remained in favor of bears for the 22nd week in a row."
[ { "end": 18, "label": "Neutral", "start": 14, "tag": "Neutral", "value": "AAII" } ]
��We believe that demand has weakened considerably and we've seen that even in the areas that have been significantly constrained," Nikolay Todorov, analyst at Longbow Research, said. ��Micron will essentially start or signal that the semiconductor cycle is turning.��
[ { "end": 175, "label": "Neutral", "start": 159, "tag": "Neutral", "value": "Longbow Research" }, { "end": 190, "label": "Neutral", "start": 184, "tag": "Neutral", "value": "Micron" } ]
"I don't think the Fed is going stop raising rates. If you look at the inflation numbers, they are really high, but they will come down," said Gregory Faranello, head of U.S. rates at AmeriVet Securities in New York.
[ { "end": 203, "label": "Neutral", "start": 184, "tag": "Neutral", "value": "AmeriVet Securities" }, { "end": 22, "label": "Neutral", "start": 19, "tag": "Neutral", "value": "Fed" } ]
The contract manufacturer added that J&J had failed to provide required forecasts for the amount of vaccines it needed and had wound down the agreement instead of fulfilling minimum requirements.
[ { "end": 40, "label": "Negative", "start": 37, "tag": "Negative", "value": "J&J" } ]
The probe had prompted the largest solar trade group to cut its installation forecasts for this year and next by 46% as developers including NextEra Energy Inc <NEE.N>, Southern Co <SO.N> warned of major project delays [nL2N2WQ31O].
[ { "end": 159, "label": "Negative", "start": 141, "tag": "Negative", "value": "NextEra Energy Inc" }, { "end": 180, "label": "Negative", "start": 169, "tag": "Negative", "value": "Southern Co" } ]
The Dow Jones Industrial Average <.DJI> fell 58.13 points, or 0.18%, to 32,774.41, while the S&P 500 <.SPX> lost 17.59 points, or 0.42%, to 4,122.47 and the Nasdaq Composite <.IXIC> dropped 150.53 points, or 1.19%, to 12,493.93.
[ { "end": 32, "label": "Negative", "start": 4, "tag": "Negative", "value": "Dow Jones Industrial Average" }, { "end": 173, "label": "Negative", "start": 157, "tag": "Negative", "value": "Nasdaq Composite" }, { "end": 100, "label": "Negative", "start": 93, "tag": "Negative", "value": "S&P 500" } ]
Both the LME and ShFE, where stocks are even more depleted, are struggling to price simultaneously a growing global nickel surplus and a tight Class I supply chain.
[ { "end": 12, "label": "Negative", "start": 9, "tag": "Negative", "value": "LME" }, { "end": 21, "label": "Negative", "start": 17, "tag": "Negative", "value": "ShFE" } ]
The setback will be an added challenge for CEO-designate Thomas Schinecker, Roche's head of diagnostics, who will be promoted in March. He will replace Severin Schwan, the chief executive who has led a successful campaign to diversify away from Roche's traditional focus on cancer.
[ { "end": 250, "label": "Neutral", "start": 245, "tag": "Neutral", "value": "Roche" }, { "end": 81, "label": "Neutral", "start": 76, "tag": "Neutral", "value": "Roche" } ]
It also coincided with the global PC industry coming off the pandemic-fuelled sales boom and the war in Ukraine, prompting several companies from chipmakers to electronics manufacturers such as Intel <INTC.O> and Samsung <005930.KS> to warn of a sharp slowdown in demand. [nL4N2Z947R][nL1N2Z83N6]
[ { "end": 199, "label": "Negative", "start": 194, "tag": "Negative", "value": "Intel" }, { "end": 220, "label": "Negative", "start": 213, "tag": "Negative", "value": "Samsung" } ]
In corporate news, earnings releases looked mixed. Healthcare stocks could be in demand after drugmakers GSK and Novo Nordisk, and dental-implants maker Straumann all raised their 2022 outlooks. Gains in the sector could be curbed though by a profit warning from hearing-aid maker Demant.
[ { "end": 108, "label": "Positive", "start": 105, "tag": "Positive", "value": "GSK" }, { "end": 125, "label": "Positive", "start": 113, "tag": "Positive", "value": "Novo Nordisk" }, { "end": 287, "label": "Negative", "start": 281, "tag": "Negative", "value": "Demant" }, { "end": 162, "label": "Positive", "start": 153, "tag": "Positive", "value": "Straumann" } ]
Affirm said on Thursday it expects full-year 2023 revenue between $1.63 billion and $1.73 billion, below Wall Street views of $1.9 billion, according to Refinitiv data.
[ { "end": 6, "label": "Negative", "start": 0, "tag": "Negative", "value": "Affirm" }, { "end": 162, "label": "Neutral", "start": 153, "tag": "Neutral", "value": "Refinitiv" } ]
BitChute and Odysee are hardly the only sites spreading misinformation. Social media giants such as Facebook and YouTube have also struggled to contain such content, but they have responded with more aggressive moderation policies and practices.
[ { "end": 108, "label": "Negative", "start": 100, "tag": "Negative", "value": "Facebook" }, { "end": 8, "label": "Negative", "start": 0, "tag": "Negative", "value": "BitChute" }, { "end": 19, "label": "Negative", "start": 13, "tag": "Negative", "value": "Odysee" }, { "end": 120, "label": "Negative", "start": 113, "tag": "Negative", "value": "YouTube" } ]
Most rate-sensitive growth stocks such as Microsoft Corp <MSFT.O>, Twitter Inc <TWTR.O>, Amazon.com <AMZN.O>, Apple Inc <AAPL.O>, and Tesla Inc <TSLA.O> were down between 0.1% and 0.2% in premarket trading.
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Carvana also "failed to accurately predict how this would all play out and the impact it would have on our business," added CNBC, which first reported the job cuts, citing the memo.
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The trouble is that banks typically start moving into new areas when markets are booming. Advisers to special-purpose acquisition companies were a hot commodity in 2019 and 2020, for example. But investment banks are ruthless, and recently, Goldman and Citigroup <C.N> said they were hitting pause on their SPAC businesses as the market pulled back.
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Tesla Inc <TSLA.O> dropped 7.2% to a two-year low after Chief Executive Elon Musk late on Tuesday disclosed that he sold $3.95 billion worth of shares in the electric-vehicle maker days after he closed the $44 billion deal for Twitter Inc.
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Megacap stocks such as Apple Inc <AAPL.O> and Tesla <TSLA.O> rose about 1% in premarket trading. Rising interest rates have hurt shares of the mega-cap growth companies as their valuations rely more heavily on future earnings.
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��We do not believe that central banks will be able to raise rates to the extent that they or the market forecasts given the headwinds to already moderating economic growth," said Steve Ellis, global CIO of fixed income at Fidelity International.
[ { "end": 244, "label": "Neutral", "start": 222, "tag": "Neutral", "value": "Fidelity International" } ]
"You also have the contagion element. The IMF and the U.S. Treasury waded in yesterday in fear of global contagion from gilts to other markets," he said.
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Euro zone banks tightened access to credit in the second quarter and will continue to be cautious, a survey by the European Central Bank showed. [nL1N2Z20BK]
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The sweeping rules have hit chip stocks, with the Philadelphia Semiconductor Index (.SOX) falling nearly 6% by the end of the day. American semiconductor equipment makers Lam Research Corp <LRCX.O>, Applied Materials Inc <AMAT.O> and KLA Corp <KLAC.O> were all down more than 4%.
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And on the recent price action in stocks, Barclays says the tentative calm in rates and the dollar, along with oversold technicals, may offer some respite to equities.
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The 10-year JGB yield <JP10YTN=JBTC> fell 0.5 basis point to 0.200% and the 20-year JGB yield <JP20YTN=JBTC> fell 1.5 basis points to 0.820%.
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The news knocked down the stock of telehealth leader Teladoc Health Inc <TDOC.N> by 8% in morning trading. Shares of drugstore retailers CVS Health <CVS.N> and Walgreens Boots Alliance <WBA.O> fell over 2%.
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In years gone by, they have contended with a perception that China, associated with cheap mass-production, could not compete on quality. Yet such arguments are challenged in a new reality that sees top Western carmakers like BMW and Tesla now produce cars in the country, which is a technology powerhouse and the world's biggest auto market.
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U.S. retailer Walmart Inc <WMT.N> cut its profit forecast on Monday and said customers were paring back discretionary purchases as inflation bites household budgets. Shares fell 10% after hours and rivals Target <TGT.N> and Amazon <AMZN.O> also slid. [nL4N2Z63A4]
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Even if those small-time users drift away, revenue wouldn��t fall proportionately. Based on that lower value-per-account, even if Robinhood lost one in five of its more recreational users, all else being equal, the company��s overall top line would fall by just 4%. Robinhood could offset that by growing the revenue its average top-end user brings in by 5%.
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MSCI's global stock index <.MIWD00000PUS> was down 0.08%, while the STOXX <.STOXX> index of European company shares shed 0.4%, having fallen for nearly a week. The benchmark is about 11% off its record high of Jan. 4.
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Shares in RWE <RWEG.DE>, Germany's largest power producer and one of the companies potentially affected, were 1.5% lower following the news.
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Last month, China's market regulator imposed the latest fines on Tencent and Alibaba <BABA.N> as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions. [nL4N2YV0WT]
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"A further fall in business activity in November adds to the chances of the euro zone economy slipping into recession," said Chris Williamson, chief business economist at S&P Global Market Intelligence.
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The other six "FANGMAN" stocks Meta Platforms <META.O>, Nvidia <NVDA.O>, Netflix <NFLX.O>, Amazon.com <AMZN.O>, Microsoft <MSFT.O> and Alphabet <GOOGL.O> are down between 24% to 64% so far this year.
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Jaret Seiberg at Cowen Washington Research Group likewise said it was hard "to see companies changing their behavior" in response to the 1% tax. There is a risk, though, that taxing dividends becomes an "easy way to raise additional money" and that Congress raises the 1% in future, he added.
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The resulting fire sale in stocks caused large losses at banks including Credit Suisse Group AG <CSGN.S> and Nomura Holdings Inc <8604.T>.
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What kicked stress into overdrive was the arrest last month of property tycoon Truong My Lan, chairwoman of Ho Chi Minh City-based developer Van Thinh Phat Holdings Group, over suspected bond-market fraud.
[ { "end": 170, "label": "Negative", "start": 141, "tag": "Negative", "value": "Van Thinh Phat Holdings Group" } ]
On Monday, the NSE Nifty 50 index <.NSEI> fell 1.8% to 17,016.30, while the S&P BSE Sensex <.BSESN> dropped 1.6% to 57,145.22.
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Can it last? China's COVID lockdown policies are bound to impact the economy and company profits. Banks, notably Deutsche, have warned of a hit to full-year results if the Russia war drags on [nL5N2WP12S].
[ { "end": 121, "label": "Neutral", "start": 113, "tag": "Neutral", "value": "Deutsche" } ]
"Anything that is priced in dollars has gone up 14% in dollar terms this year and that imported inflation is a problem for inflation and a squeeze in consumers," he told Reuters.
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Earnings estimates are in decline as normally happens as a quarter progresses, but the recent trend is surprisingly much weaker than normal, says Jonathan Golub, the chief U.S. equity strategist at Credit Suisse.
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While most of the debt-laden companies will remain afloat in the short term, they will have to adjust to higher borrowing costs moving forward. Jeremy Burton, portfolio manager for high-yield bonds and leveraged loans at asset manager PineBridge Investments, said this will be an adjustment many companies will struggle with.
[ { "end": 257, "label": "Neutral", "start": 235, "tag": "Neutral", "value": "PineBridge Investments" } ]
"Given all the negativity we've been dealing with for the last several weeks, this is at least initially an exhale of relief that commentary wasn't far more hawkish," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
[ { "end": 244, "label": "Neutral", "start": 226, "tag": "Neutral", "value": "Wedbush Securities" } ]
Binance, the world's biggest crypto exchange, said late on Wednesday that it had decided not to acquire smaller rival FTX, which has grappled with a severe liquidity crunch and warned it faces bankruptcy without more capital.
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Six of the 11 major S&P 500 sectors were higher, with gainers led by communication services <.SPLRCL>, while Materials <.SPLRCM> and consumer discretionary <.SPNY> were the biggest decliners. Growth <.IVG> and value <.IVX> indexes were both choppy, while small caps <.RUT> and Dow Transports <.DJT> were lower and semiconductors <.SOX> underperformed.
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