Yesterday on Wall Street

Posted 02 March, 2022

The VIX volatility index jumped 10.5% to more than 33 points, well above its historical average of 20 points. The barrel of American WTI light crude soared more than 10% in the session, above $105, before ending on a jump of 8% to $103.41 on the Nymex.

Chevron rose 3.97% to 149.72, to settle at an all-time high, after announcing its intention to increase its share buyback program by between $5 and $10 billion a year, while the operating cash flow is expected to increase by 10% per year until 2026.

The American payment card specialists Visa and Mastercard (- 3.31% to 208.97) have announced their intention to exclude several Russian financial institutions from their network in accordance with the sanctions imposed on Russia after the invasion of Ukraine.

Hollywood studios, including Disney (-1.86% to 145.7) and Warner Bros (-1.41% to 35.71) have announced a suspension of theatrical releases of their upcoming films in Russia.

Uber Technologies (- 5.94% to 33.89) announced the resignation with the immediate effect of three of its leaders from the board of directors of its joint venture with Russian Yandex.

According to The Information, the Federal Trade Commission in the United States is considering possible legal action concerning the takeover of MGM studios (- 5.35% to 41.92) by Amazon (- 1.58% to 3,022.84) for $8.5 billion.

US retailer Target jumped 9.84% to 219.43 after publishing a better-than-expected profit and revenue forecast.

Zoom Video Communications (-7.41% to 122.78) published a revenue and profit forecast below Wall Street expectations.

The Chinese search engine Baidu (+ 6.79% to 162.79) published a quarterly turnover higher than expected, thanks to strong growth in its dematerialized computing activities (cloud) and artificial intelligence.

Electric vehicle maker Lucid (-13.77% to 24.99) announced a downward revision to its production forecast for this year, citing "extraordinary challenges in the supply chain and logistics".

The CTI Biopharma laboratory (+ 63.16% to 1.2) announced that the health authority in the United States had approved its treatment intended for adults with bone marrow cancer.

The Abbott Laboratories group (- 2.03% to 118.17) will recall new powdered infant formula, including Similac, developed at one of its sites in Michigan, after reports of cases of infection.

Californian authorities have granted Cruise, a subsidiary of General Motors (- 4.71% to 44.52), and Waymo, a subsidiary of Alphabet (- 0.63% to 2,684.15), licenses to use their services autonomous vehicles with the presence of a driver.

The  Dow Jones thus lost 1.76% to 33,294.95 points, the  Nasdaq Composite 1.59% to 13,532.46 points, and the  S&P 500 1.55% to 4,306.26 points.

Previous story

02 March, 2022 10:44

← The main Russian bank Sberbank leaves the European market

Sberbank Group, Russia's main bank, announced on Wednesday that it was withdrawing from the European market, after being hit by massive financial sanctions in retaliation for Moscow's invasion of Ukraine.

 

The main Russian bank Sberbank leaves the European market

Next story

02 March, 2022 09:21

Oil: the barrel soars above $110 →

Crude prices continue their vertiginous rise in the middle of the week, the two major world references having crossed the $110 mark during the night. 

Oil: the barrel soars above $110
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