U.S. index futures are registering a decline in pre-market
trading this Friday, anticipating a crucial report on the job
market as Wall Street seeks to overcome a lukewarm start to
January. The three major indices are set to end nine consecutive
weeks of gains, with the Nasdaq facing the biggest weekly drop,
down 3.3%.
At 05:27 AM, Dow Jones (DOWI:DJI) futures fell
89 points, or 0.24%. S&P 500 futures fell
0.26% and Nasdaq-100 futures fell 0.38%. The yield
on 10-year Treasury bonds was at 4.038%.
In the commodities market, West Texas Intermediate crude for
February rose 0.93%, to $72.86 per barrel. Brent crude for March
rose 0.70%, near $78.13 per barrel. Iron ore with a concentration
of 62%, traded on the Dalian exchange, fell 1.53%, to $139.33 per
metric ton.
On Friday’s economic agenda, investors await, at 08:30 AM, the
number of jobs created or lost by the economy (payroll) and the
unemployment rate for December. The ISM Index of December service
sector activity will be published at 10:00 AM by ISM. November
factory orders will be published at 10:00 AM by the Commerce
Department.
European markets are performing negatively, with the Stoxx 600
falling 0.9%. The retail sector led the losses, with German retail
shares falling more than expected in November. Inflation in the
eurozone rose to 2.9% annually in December. In the UK, house prices
rose 1.7% in 2023, defying expectations of a decline.
Asia-Pacific markets had a mixed week, with declines in most
indices, including Hong Kong’s Hang Seng and South Korea’s Kospi.
Inflation in the Philippines slowed, while Japan’s PMI for services
signaled stabilization in private sector activity. Japan’s Nikkei
225 index rose 0.3% on Friday.
In Thursday’s trading, U.S. indices had mixed performance, with
the Nasdaq and S&P 500 ending lower, while the Dow Jones closed
slightly higher. The Nasdaq fell 0.34% and the S&P 500 also
recorded a decline of 0.34%. The Dow rose 0.03%, despite
Walgreens (NASDAQ:WBA) shares plummeting due to
dividend cuts. U.S. employment data ruled out the possibility of an
interest rate cut in March, resulting in a negative reaction in the
markets. This led to an increase in interest rates and a fall in
U.S. government bonds, also affecting the country’s main stock
indices. The Nasdaq performed weaker compared to the S&P,
recording its fifth consecutive decline, with accumulated losses of
4% since December 28. Apple (NASDAQ:AAPL) shares
also fell due to concerns about iPhone sales.
Wall Street Corporate Highlights for Today
Microsoft (NASDAQ:MSFT), Apple
(NASDAQ:AAPL) – Microsoft is closing in on Apple in market value,
with a capitalization of about $2.73 trillion compared to Apple’s
$2.83 trillion. Microsoft has performed slightly better in stocks
in 2023 and is driven by continued growth in Azure and artificial
intelligence. Meanwhile, Apple faces challenges with competition in
China and macroeconomic pressures. The market value gap between the
two companies has not been this small since November 2021. Apple’s
shares have fallen 5.5% so far in 2024 and closed lower for four
consecutive days.
Apple (NASDAQ:AAPL), Disney
(NYSE:DIS) – The U.S. Securities and Exchange Commission (SEC)
decided that Apple and Disney cannot avoid shareholder votes on the
use of artificial intelligence. The AFL-CIO, the largest union
federation in the U.S., submitted similar proposals at four other
tech companies. The SEC believes these proposals transcend common
business issues.
Alphabet (NASDAQ:GOOGL) – Google, owner of
YouTube, violated U.S. labor law by refusing to negotiate with the
union representing YouTube Music contracted workers, according to
the National Labor Relations Board (NLRB). The agency rejected
Google’s claims that it should not be considered an employer of
these workers and, therefore, would not need to negotiate with the
union. The decision implies that Google must negotiate with the
Alphabet workers’ union.
Thermo Fisher Scientific (NYSE:TMO) – Thermo
Fisher Scientific decided to cease the sale of forensic technology
and equipment in Tibet, after offering human identification (HID)
technology used to track criminals. The company did not explain the
reasons behind the decision, which follows a similar restriction in
Xinjiang in 2019. Some shareholders welcomed the move, citing
concerns about human rights violations.
Brookfield Asset Management (NYSE:BNH),
American Tower Corp (NYSE:AMT) – Brookfield Asset
Management will acquire the loss-making Indian operations of
American Tower Corp for $2.5 billion, becoming the largest telecom
tower operator in India. ATC will exit India after almost 17 years,
while Brookfield positions itself to manage the challenges faced by
ATC due to high exposure to Vodafone Idea. India is experiencing an
increase in data demand and the implementation of 5G.
Nokia (NYSE:NOK) – Nokia signed a 5G patent
agreement with Honor, a Chinese smartphone manufacturer. However,
Nokia is still involved in legal disputes with other Chinese
manufacturers, such as Oppo and Vivo, over 4G and 5G patents.
Patent licensing revenues accounted for 39% of Nokia’s operating
profit in 2022. In December, Nokia stated it would not meet its
financial targets for 2023 due to ongoing discussions on renewing
patent licenses.
Verizon Communications (NYSE:VZ) – Analyst
Peter Supino of Wolfe Research upgraded Verizon Communications to
an Outperform from Peer Perform, highlighting confidence in
industrial economy stability and underestimation. He believes
Verizon will see declining capital expenses and leverage, as well
as potential sales increases and improved execution, offering an
attractive picture for investors.
Microchip Technology (NASDAQ:MCHP) – The U.S.
Department of Commerce plans to grant $162 million in subsidies to
Microchip Technology to increase semiconductor and microcontroller
unit production in the U.S. This funding will allow Microchip to
triple its production, helping to reduce dependence on global
supply chains and strengthen U.S. national and economic
security.
Qualcomm (NASDAQ:QCOM) – Qualcomm announced the
Snapdragon XR2+ Gen 2 chip designed for mixed and virtual reality
headsets. Samsung and Google (NASDAQ:GOOGL) plan to use the chip
but did not specify in which products it will be used. The mixed
reality headset market is heating up, with Apple launching its
Vision Pro headset soon.
Ford Motor (NYSE:F) – Ford Motor recorded its
best annual vehicle sales in the United States since 2020, with
1.99 million units sold in 2023, an increase of 7.1%. Crossover
SUVs and pickups drove demand, while electrified vehicles accounted
for nearly 17% of total sales. Ford ranked third in U.S. sales,
behind General Motors (NYSE:GM) and Toyota (NYSE:TM).
Tesla (NASDAQ:TSLA) – Tesla’s aggressive
real-time management strategy of its stores in China is boosting
its edge over dealerships like BYD in the world’s largest
automotive market. Tesla sold more than 1,500 electric vehicles on
average per store in the first 10 months of 2023, while BYD sold
fewer than 600. Although facing increasing competition, limited
production capacity, and the need to improve margins, Tesla
maintains its strong position. Additionally, Tesla is conducting a
recall of 1.62 million vehicles in China, including S, X, 3, and Y
models, following two recalls in the U.S. The automaker will
remotely update the software to prevent misuse of the Autosteer
function and correct door issues in some vehicles.
Fisker (NYSE:FSR) – Electric vehicle
manufacturer Fisker plans to add up to 50 partner dealerships in
the U.S., Canada, and Europe to expand its sales and delivery
network. The company, which has so far followed a
direct-to-consumer model, plans to ship its first Ocean vehicles to
new dealerships by the end of the first quarter.
Mobileye Global (NASDAQ:MBLY) – Autonomous
technology company Mobileye Global warned on Thursday that a
reduction in customer orders will result in weaker results in 2024
due to an oversupply of automotive chips. Its shares plummeted in
response, indicating that the automotive chip industry may face a
slowdown.
QuantumScape (NYSE:QS) – QuantumScape
registered an increase in pre-market trading, following a 43% gain
the previous day. Volkswagen, through its battery subsidiary
PowerCo, announced that QuantumScape’s solid-state battery cell
demonstrated significantly better performance than expected in
tests, successfully completing over 1,000 charging cycles. This
points to advances in technology that could result in more
affordable batteries, faster charging, and greater range.
Phillips 66 (NYSE:PSX) – Phillips 66 is in
active discussions to sell non-core assets, as part of its plan to
monetize $3 billion in non-core assets in 2024. There is no fixed
timeline for sales, and CEO Mark Lashier stated that it will be
determined by the value offered for these assets. The company seeks
to increase returns and cut costs after a period of
underperformance compared to rivals in the refining industry. The
CEO also expressed optimism about the long-term prospects of the CP
Chemical joint venture with Chevron (NYSE:CVX).
Exxon Mobil (NYSE:XOM) – Exxon Mobil announced
it will take a writedown of about $2.5 billion on assets in
California in the fourth quarter due to regulatory challenges.
Lower energy prices also affected operating profits, which could
fall about 30% compared to the previous year. The company will also
take a goodwill impairment of about $250 million in its chemicals
business.
SolarEdge (NASDAQ:SEDG) – The U.S. solar
industry will see modest growth in 2024, according to SolarEdge’s
chief financial officer, due to falling electricity prices and
support from the Inflation Reduction Act. Demand is expected to
increase with anticipation of lower interest rates and improvements
in tax incentives. Battery installation is also expected to
continue growing.
RTX (NYSE:RTX) – Industry veteran Phil Jasper
will take over as president of RTX’s Raytheon unit after Wesley
Kremer’s retirement at the end of the first quarter. The change
comes as Raytheon benefits from growing demand for its equipment
due to the war in Ukraine. Since the Russian invasion in 2022, RTX
has received $3 billion in orders related to the conflict.
United Parcel Service (NYSE:UPS),
FedEx (NYSE:FDX) – India’s antitrust body is
investigating global delivery companies, including DHL, UPS, and
FedEx, on suspicion of collusion in discounts and tariffs. The
investigation, initiated in October 2022, alleges that these
companies jointly controlled prices and discounts, possibly
violating Indian antitrust laws. The companies are cooperating but
deny the allegations.
AMC Entertainment (NYSE:AMC) – AMC
Entertainment’s shares fell 5% on Thursday to $5.30, hitting
another record low and ending a four-day losing streak. The stock
price is far below its peak during the meme stock craze, when it
reached $339.05 in June 2021. AMC recently issued shares to tackle
its debt of over $5 billion and faces liquidity challenges.
Costco (NASDAQ:COST) – Costco reported a 9.9%
increase in December sales, totaling $26.15 billion, driven by
e-commerce, with sales in the 17 weeks to December 31 reaching
$82.86 billion, an increase of 5.9%. Same-store sales in December
increased 8.5%, with a 5.2% increase in the 17 weeks. Online sales
in December grew by 17.7%.
Carrefour (EU:CA), PepsiCo
(NASDAQ:PEP) – Carrefour informed customers in France, Italy,
Spain, and Belgium that it will no longer sell PepsiCo products,
such as Pepsi, Lay’s, and 7up, due to price increases deemed
unacceptable. This decision affects over 9,000 stores and
represents two-thirds of the retailer’s global presence. Retailers
in various countries have halted orders from food companies due to
inflation concerns.
Conagra Brands (NYSE:CAG) – Conagra Brands
lowered its forecasts for organic net sales growth and annual
profit, due to a slower recovery in demand for packaged meals and
snacks. The company faces its tenth consecutive quarter of volume
decline and is increasing marketing and advertising spending in
some categories. Conagra also plans to lower prices in some
categories to stimulate demand.
Kura Sushi (NASDAQ:KRUS) – In the first
quarter, Kura Sushi USA, a Japanese restaurant chain, reported a
per-share loss of 18 cents, beating analysts’ expectations of a
10-cent loss. Comparable restaurant sales increased 3.8%, exceeding
estimates, while total sales reached $51.5 million, surpassing
expectations. The company projects sales between $239 million and
$244 million for the fiscal year 2024.
McDonald’s (NYSE:MCD) – McDonald’s CEO Chris
Kempczinski reported that the Israel-Hamas conflict and
misinformation have harmed its business in some Middle East markets
and beyond, due to boycott actions based on misconceptions about
the company’s stance.
Amer Sports – Amer Sports, a tennis racket
manufacturer and owner of sports brands like Wilson, revealed a 30%
revenue increase in the first nine months of 2023. The company
plans to conduct an initial public offering (IPO) in the U.S.,
capitalizing on the recovery of the IPO market. Amer Sports owns
iconic brands like Arc’teryx, Salomon, and Atomic, in addition to
the famous tennis racket brand Wilson. Its IPO is awaited at a time
when investor sentiment is recovering and the IPO market looks more
promising after a difficult period.
Citigroup (NYSE:C) – Citigroup plans to launch
its investment banking unit in China by the end of 2024, expanding
its market presence. The bank is also in active discussions to sell
non-core assets as part of its efforts to increase returns.
BlackRock (NYSE:BLK) – BlackRock named Leigh
Farris as its Global Head of Corporate Communications, bolstering
its position amidst pressure related to socially and
environmentally conscious capitalism. She will succeed Jim
Badenhausen and will join in March.
Berkshire Hathaway (NYSE:BRK.B),
Liberty (NASDAQ:LSXMA), SiriusXM
(NASDAQ:SIRI) – Berkshire Hathaway acquired 2.8 million shares of
Liberty SiriusXM tracking stock to capitalize on the discount
relative to Sirius XM Holdings’ stake. Berkshire Hathaway paid
about $82 million, raising its stake to about 20%. The investment
is seen as managed by Ted Weschler, not Warren Buffett. Liberty and
Sirius XM announced a deal in December to combine the tracking
stock with Sirius XM Holdings. The discount is about 35%, with
expectations for the gap to narrow as the transaction approaches,
but remains wide due to challenges in trading Sirius XM stock and
short selling.
Walgreens Boots Alliance (NASDAQ:WBA) –
Walgreens Boots Alliance’s dividend cut could hasten its exit from
the Dow Jones Industrial Average. The company is seen as vulnerable
to removal due to its low stock price and market cap. Walgreens’
shares fell after announcing a 48% dividend cut.
AlloVir (NASDAQ:ALVR) – AlloVir announced a
reduction of about 95% in its workforce following the termination
of three clinical trials related to its lead T-cell therapy,
posoleucel. The goal is to preserve capital, with the layoffs
primarily planned for the first quarter of 2024. The company
expects charges of about $13 million for severance and other
benefits. Shares are up 4.3% in Friday’s pre-market.
Fusion Pharmaceuticals (NASDAQ:FUSN) – Fusion
Pharmaceuticals, a clinical-stage oncology company, announced FDA
approval for a phase 2/3 protocol and development plan for FPI-2265
treatment targeting certain prostate cancers.
Eli Lilly (NYSE:LLY) – Eli Lilly launched
LillyDirect, offering streamlined access to treatments, including
weight loss medications. The site provides disease management
resources and facilitates access to healthcare providers and direct
delivery of certain Lilly medications. The company aims to improve
patient experience and outcomes.
Novo Nordisk (NYSE:NVO) – Novo Nordisk
announced research collaborations with U.S. biotech companies Omega
Therapeutics and Cellarity Inc. These partnerships aim to develop
new treatments for obesity and MASH liver disease. Novo will
reimburse research and development costs, and the agreements could
pay up to $532 million in upfront payments and commercial
milestones, plus royalties on sales.
Peloton Interactive (NASDAQ:PTON) –
Peloton Interactive partnered exclusively with
TikTok to bring its workout content to the short-video platform.
The company is focusing on software and content to drive subscriber
growth, as demand for connected home fitness equipment has waned
post-pandemic peak. This partnership marks Peloton’s first
collaboration outside its own channels.
AMC Entertainment (NYSE:AMC)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
AMC Entertainment (NYSE:AMC)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024