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IBM Shares Fall as CEO Doubles Down on Quantum While Market Stays Skeptical
At New York Tech Week on Tuesday, IBM’s CEO made his strongest argument so far that quantum computing is real, ready for business, and closer than most people think. Even as Arvind Krishna called quantum the next step after CPUs and GPUs and promised a $10 billion investment over five years, IBM shares dropped along […]
Market Insights
Affirm Shares Jump as Company Posts Solid Results and Deepens Partnership with Shopify
Ticker symbol: AFRM Affirm are surging by 25% in postmarket trading as the company posted robust numbers in its earnings report published after market close. The company’s shares reached a zenith, along with much of the market, in November 2021, when shares closed at an all-time high of $168.52. Since then, shares have fallen almost […]
Disney’s Growth Continues, But at a Slower Than Projected Rate
Ticker symbol: DIS The Walt Disney Company published a mixed second quarter report that, while missing on certain key metrics, showed strong growth in its flagship subscription streaming business Disney+. While many feared that the company’s subscriber base would shrink after a strikingly poor report from rival Netflix, Disney’s relatively small user base means that […]
Bitcoin Tumbles to 2022 Low as Risk Assets Take a Hit from Rising Rates
A sharp increase in interest rates pushed Bitcoin prices to a low for the year on Monday. Liquidity has been key to the support of cryptocurrency assets, and as the Fed begins its $45 billion per month bond tapering program, fears that liquidity could dry up has pushed Bitcoin towards becoming one of the weakest […]
Cash is King
In this torrid season of downtrends and declines, selloffs and stagflation, investors are reverting to the tried and trusted cash. Amidst the plummeting stocks and bonds, the US Dollar Spot Index has upstaged all other assets this month. For 5 weeks, an exchange traded fund which trends Treasury bills became a cash cow thanks to […]
Invest in MANG instead of FAANG, Jefferies recommends
Based on the current economic climate where interest rates are increasing, there might be wisdom in the recommendation by Jefferies Global for Big Tech stock investors to focus their portfolio on acquiring MANG stocks instead of the infamous FAANG group. FAANG which comprises Facebook, Apple, Amazon, Netflix and Google has been experiencing pandemic induced instability, […]
ConocoPhillips Beats Estimates and Boosts Buyback
ConocoPhillips beat analysts’ first quarter earnings estimates handily thanks in large part to record oil and gas production. The company reported an adjusted EPS of $3.27 versus 69¢ in the year ago quarter, and the $3.17 expected by analysts. Crude oil production topped 915 million barrels of oil a day. Natural gas production rose to […]
Fed Raises Key Rate by 50 Basis Points as Inflation Rages
The U.S. Federal Open Market Committee (FOMC) raised its key policy rate by a half-percentage-point on May 4th to battle higher inflation. In its second interest rate hike since the start of the COVID pandemic, the Federal Reserve (the Fed) increased the Federal Funds Target rate to an upper bound of 1%. This is the […]
Stock Market Slides Again as Inflation and Interest Rate Angst Increases
The stock market resumed its slide post yesterday’s rally induced by Fed Chairman Jerome Powell’s speech. Despite reassurances that the Fed would raise rates in a steady and predictable manner, fears that inflation arising from elevated commodity prices could force the Fed to tighten more quickly weighed on investor sentiment today. The Nasdaq 100 Index […]
LYFT Craters On Weak COVID Recovery
LYFT shares tanked, down 25% to $23, after reporting ridership and revenue metrics which missed Wall Street forecasts. The company posted first quarter revenue which topped estimates, coming in at $876 million, versus the $846 expected. However, it guided to revenue of $975 million for the second quarter, which was short of the $1.02 billion […]
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