Yesterday on Wall Street

Posted 27 July, 2022

The S&P Case Shiller index of real estate prices in the 20 largest American cities slowed in May (+ 20.5% against a consensus of + 20.6% after + 21.2%).

New home sales disappointed in June (590,000 against a consensus of 660,000 after a revised 642,000) as did US consumer confidence which deteriorated further in July (95.7 against a consensus of 96 after 98.4 ).

Walmart fell 7.6% to 121.98 after lowering its annual and quarterly profit targets as soaring food and fuel prices dampened customer spending. In its wake, Home Depot dropped 2.6% to 298.18 and Target  – by 3.61% to 151.81.

3M (+ 4.94% to 140.75) announced during the publication of its results its intention to split its health care activity in which it would retain a 19.9% ​​stake.

General Motors (-3.42% to 33.34) confirmed its annual profit target but said it was preparing for a possible slowdown by limiting spending and hiring.

Coca-Cola (+1.64% to 63.21) raised its full-year revenue forecast as demand remained strong despite price increases intended to mitigate the impact of the rising costs.

McDonald's (+2.68% to 257.09) reported higher-than-expected quarterly sales on the back of buoyant online demand, new product launches and higher pricing.

General Electric (+4.61% to 71.51) cut its forecast for the full year, due to inflationary pressure and disruptions in the global supply chain.

Amazon (-5.26% to 114.77) will raise fees for its Prime delivery and streaming service in Europe by up to 43% a year, the online retailer seeks to counter rising costs days before the publication of its quarterly financial results.

UPS (- 3.4% to 181.53) on Tuesday published a higher than expected adjusted quarterly profit, particularly profitable deliveries having compensated for a drop in volumes linked to online commerce.

The household appliance specialist Whirlpool (+ 22.25% to 168.36) lowered its annual profit outlook after reporting a 4.3% drop in sales to $5.10 billion, below expectations, due to supply chain disruptions and slowing demand.

The profit of hospital operator Universal Health Services (-0.45% to 109.6) nearly halved in the second quarter, to $164.1 million, due to rising labor costs.

The  Dow Jones  thus lost 0.71% to 31,761.54 points, the  Nasdaq Composite 1.87% to 11,562.58 points and the  S&P 500  1.15% to 3,921.05 points.

Previous story

28 July, 2022 14:27

← United States: above all, do not say recession!

The advanced figures (first of three estimates) of the American GDP for the second quarter of 2022 have just fallen, and confirm, as had...

United States: above all, do not say recession!

Next story

27 July, 2022 10:30

Twitter shareholders to vote Sept. 13 on Musk takeover →

The vote of Twitter shareholders on its acquisition by Elon Musk will take place on September 13.

Twitter shareholders to vote Sept. 13 on Musk takeover
Write a comment
Prove you’re not a bot + 13 = 32