SAN FRANCISCO—Tesla Inc surged past Wall Street estimates for quarterly revenue and profit on Wednesday, as the electric carmaker raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown. Tesla has been an outlier since the pandemic outbreak, posting record deliveries and earnings for several quarters when rivals wrestling with global…
Here’s Why Citi Added Amazon to Focus List
Citi analyst Ronald Josey assumed coverage of Amazon.com Inc. with a Buy rating and price target of $4,100, down from $4,115 (29.7 percent upside). Josey also added the shares to the firm’s Focus List, given its lead eCommerce, Online Advertising, and Cloud and operational efficiencies at its new Fulfillment Centers, physical retail location closures, and the lapping of COVID-related…
Rogers Clocks 4 Percent Revenue Growth in Q1 Backed by Improving Canadian Economy; Raises FY22 Guidance
Rogers Communications Inc. reported first-quarter FY22 revenue growth of 4 percent year-on-year to C$3.62 billion. Service revenue grew 6 percent Y/Y to C$3.2 billion. Rogers attracted 66,000 net postpaid mobile phone subscribers, up from 22,000 last year, with a churn of 0.71 percent. Wireless service revenue increased by 7 percent Y/Y, mainly due to higher roaming…
No Parallels Between Netflix And Tesla, Says Ark Analyst
Tesla Inc. and Netflix Inc. may have first-mover benefits in their categories but that’s where the similarities end for the companies, Ark Investment Management analyst Brett Winton wrote in a Twitter post on Tuesday. What Happened The Tesla bull analyst was responding to early-stage venture SK Ventures’ co-founder Paul Kedrosky’s view that there are parallels between the two companies and their stocks. Kedrosky said…
Just Eat Explores Grubhub Sale as It Sees Corrections Following Pandemic Recovery
Just Eat Takeaway.com NV. weighed a partial or complete sale of its Grubhub unit less than a year after buying it for $7.3 billion. Just Eat Takeaway.com explored strategic actions for the U.S. division after losing an unusually high level of customers across its key markets, Bloomberg reports. CEO Jitse Groen saw the business as an essential part of industry…
‘Nice Growth’ In APAC: Netflix CEO Highlights Rising Subscription Numbers In Key Region
The 200,000 subscribers loss came as one of the biggest surprises for the streaming video-on-demand company Netflix Inc’s (NASDAQ:NFLX) investors—sending its stock tumbling by 25 percent post the bell. The Asia-Pacific market emerged as a glitter of hope amid this slump for Netflix. The company said that it added about 1.09 million paid members in…
LIVE UPDATES: Satellite Images Allegedly Show Mass Grave Near Mariupol
The latest on the Russia–Ukraine crisis, April 22. Click here for updates from April 21. Satellite Images Allegedly Show Mass Grave Near Mariupol New satellite images from near the besieged southeastern Ukrainian city of Mariupol released on Thursday (April 21) were said to show scores of freshly-dug graves. The images from Maxar Technologies purport to show the gradual creation of a mass grave site next to an existing graveyard on the edge of Manhush, a…
Why Has Elon Musk Blamed Netflix Slump on ‘Woke Mind Virus’?
Tesla and SpaceX CEO and prospective Twitter owner Elon Musk has addressed the recent slump in Netflix’s stock, apparently blaming the decline on the proliferation of “woke” content on the platform. “The woke mind virus is making Netflix unwatchable,” Musk posted on Twitter Tuesday in reply to a report that Netflix shares had cratered in…
California’s Pension Fund Saw $700 Million Go up in Smoke Following Earnings-Triggered Sell-Off in Netflix
Netflix, Inc. shares suffered a bloodbath on Wednesday, having shed over 35 percent in a single session, following its disappointing quarterly results and weak guidance. One of the largest U.S. pension funds, which held a chunk of the streaming giant’s shares, incurred a massive loss amid the plunge. What Happened The California Public Employees’ Retirement…
Perma-Bulloney
April 21, 2022
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Business & EconomyBusiness ColumnistseconomyFederal ReserveOpinionquantitative easingquantitative tighteningViewpoints
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Commentary The economy is faltering, and markets are becoming chaotic. In spite of this, the mainstream financial media is busy convincing investors that the bull market is solidly intact. The 10-2 Treasury yield curve inverted on Tuesday, March 29. This inversion occurred for the first time since September 2019. Meanwhile, the 30–5-year Treasury yield spread…
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