Yesterday on Wall Street

Posted 31 August, 2022

Consumer confidence improved in August to 103.2 from 97.9 expected. US job vacancies rose to 11.239M in July from 10.475M expected.

Tesla fell 2.5% to 277.7 after filing a lawsuit against the state of Louisiana which prohibits it from marketing its vehicles to consumers without going through dealerships, viewing the move as protectionist and anti-competitive.

The oil services group Schlumberger (-4.21% to 38.68) and its Norwegian competitors Aker Solutions and Subsea 7 have announced a merger of their subsea oil and gas construction activities.

Boeing fell by 1.94% to 162.21 despite the announcement by Taiwan China Airlines of an order for 16 copies of its 787 for an amount of 4.6 billion euros to replace the Airbus A330.

Best Buy (+ 1.61% to 74.89) recorded a less marked than expected drop of 12.1% in sales in the quarter to the end of July thanks to promotions which enabled it to mitigate the impact of the 'inflation.

The discount distribution specialist Big Lots climbed 11.74% to 24.08 despite the group has announced that it expects a double-digit drop in sales in the third quarter and a deterioration in its margin of around 35%.

Peloton Interactive (-8.5% to 9.58) announced that it was unable to file the annual report on its accounts for the year ended June 30 in time with the American stock market watchdog, the Securities and Exchange Commission.

The Chinese online search engine giant Baidu (-6.54% to 137.69) published a turnover higher than expected, thanks in particular to the recovery of the advertising market and increased demand for its products in the "cloud" (dematerialized computing).

Twitter fell 1.8% to 39.32 after Elon Musk sent a new letter to social media aimed at ending his proposed $44 billion takeover.

Lucid fell 6.31% to 15.15 after filing a new offer allowing it to potentially raise up to $8bn as the electric car maker faces production issues.

Avid Technology rose 12.06% to 27.04 on news of its inclusion in the S&P SmallCap 600 Index, replacing Poly (% at).

RBC started tracking Lockheed Martin (-1.06% to 425.11), Northrop Grumman (-1% to 480.93), and L3harris Technologies (-0.87% to 231.24), respectively at Performance in line with the sector with a price target of $460, and at Outperformance with a price target of $550 and $285.

The  Dow Jones thus fell by 0.96% to 31,790.87 points, the  Nasdaq Composite by 1.12% to 11,883.14 points, and the  S&P 500  by 1.1% to 3,986.16 points.    

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31 August, 2022 11:08

← New suspension of Russian gas deliveries, Europeans on alert

Three days without Russian gas: Europeans are again on alert after an interruption in deliveries via the Nord Stream gas pipeline on Wednesday for maintenance work amid soaring energy prices.

 

New suspension of Russian gas deliveries, Europeans on alert

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29 August, 2022 14:12

The Central Bank of South Korea urged to allow ICOs within the country →

The regulator stressed that Korean organizations such as Terra are creating crypto companies and issuing digital assets abroad, which reduces the effectiveness of regulation and the safety of investors.

The Central Bank of South Korea urged to allow ICOs within the country
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