Yesterday on Wall Street

Posted 18 May, 2022

Indeed, retail sales rose sharply in April, still benefiting from the end of health restrictions linked to Covid-19, despite soaring prices. They increased by 0.9% compared to March, in line with the FactSet consensus, and by 0.6% excluding automotive against the 0.3% consensus.

The head of the Fed thus indicated, on the occasion of a conference organized by the 'Wall Street Journal', that the Fed's plan was to raise its key rates in stages by half a point during its next meetings.

US retail giant Walmart fell 11.38% to 131.35 after lowering its full-year profit forecast as its margin was increasingly impacted by high labor costs and inflation in the United States.

Elon Musk announced that his plan to buy Twitter (+ 2.49% to 38.32) for $44 billion could not go ahead until the general manager of the social network, Parag Agrawal, would not publicly bring proof that "spam" represents less than 5% of the number of users. 

Berkshire Hataway (+1.6% to 471,670) increased its stake in the capital of Citigroup (+7.65% to 51.05), Mckesson Corporation (+1.63% to 333.16), and even Paramount Global ( +15.31% to 34.73) and sold almost all of its stake in Verizon  (-0.2% to 48.94). 

Home Depot (+1.68% to 300.95) raised its full-year revenue and profit forecast after strong first-quarter results on buoyant demand.

United Airlines (+7.88% to 46.97) raised its revenue estimate for the current quarter despite the reduction in capacity.

Chinese stocks on Wall Street were buoyed by speculation of relaxation of Chinese technology regulations following a meeting between industry executives and Vice Premier Liu He. Baidu was up 4.79% to 123.44, Pinduoduo 6.13% to 40.16, and Alibaba 6.37% to 91.99.

Tencent Music Entertainment (-1.45% to 4.09) reported a 15% decline in quarterly revenue, in line with expectations.

Video game publisher Take-Two Interactive Software (+11.78% to 123.08) posted quarterly earnings above expectations.

The American fund KKR  (+4.2% to 53.08) will buy the British energy production company ContourGlobal for 1.75 billion pounds (2.08 MDE).

Intercontinental Exchange (+1.86% to 99.12) announced that it would sell its stake in the securities settlement platform Euroclear Holding for 709 ME to Caisse des Dépôts and the Belgian public holding company SFPI.

The activist investor Elliott Investment Management reportedly sold its stake in Duke Energy (-0.62% to 109.35) during the first quarter.

AMD gained 8.73% to 102.47, led by Piper Sandler who raised her recommendation to Overweight from Neutral.

The  Dow Jones thus gained 1.34% to 32,654.59 points, the  Nasdaq Composite  2.76 to 11,984.52 points, and the  S&P 500  2.02% to 4,088.85 points. 

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18 May, 2022 09:49

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