Companies in focus @AlliesFin
• Electric car maker *Tesla Inc.* late Wednesday delivered a report that showed a stronger profit than forecast but cautious guidance on the supply-chain snags in microchips. Shares fell 8.6%.
• Shares of *McDonald’s Corp.* were down 0.5% after the fast-food giant reported fourth-quarter earnings and revenue that missed expectations.
• Microchip equipment maker *Lam Research Corp.* said supply-chain conditions worsened in late December. Shares dropped 7%.
• *Netflix Inc. soared* as hedge fund magnate Bill Ackman acquired more than 3.1 million shares in a vote of confidence following a recent collapse in the streaming giant’s stock price.
• *Comcast Corp.* plans to double spending on content for its Peacock streaming service this year in an attempt to attract more paying subscribers.
• *T. Rowe Price Group Inc*. tumbled after the firm said client redemptions may continue with the Fed poised to raise rates.
Stocks making the biggest moves after hours: @AlliesFin
*Apple* — The tech stock rose more than 2% in after-hours trading after the company reported its largest single quarter in terms of revenue ever. Its sales grew more than 11% even amid supply challenges and the lingering effects of the pandemic. Apple beat analyst estimates for sales in every product category except iPads.
*Visa* — The credit card company saw its shares jump 5% in extended trading after a better-than-expected earnings report. Visa’s adjusted earnings per share came to $1.81, higher than a Street estimate of $1.70 per share, according to Refinitiv. Its revenue also topped expectations.
*Robinhood* — Zero-commission app Robinhood Markets Inc. is set to report earnings after Thursday’s closing bell one day before the anniversary of its decision to halt trading on meme stocks, shares were down 6.4%.
Shares of the trading app plunged a whopping 15% after the company gave a disappointing revenue forecast for the first quarter of 2022. Its latest earnings report also showed a decline in users. Monthly active users fell to 17.3 million last quarter from 18.9 million in the third quarter.
*Western Digital* — Shares of the data storage company slid 12% in extended trading even after a strong earnings report. The company’s EPS came in at $2.30 per share, compared with an estimate of $2.13 per share, according to FactSet. Sales also beat analysts’ forecast. The stock has fallen more than 17% in 2022.
*Volume on U.S. exchanges was 13.29 billion shares, compared with the 11.86 billion average over the last 20 trading days.*
Oil futures CL edged lower after closing at more-than-seven-year highs on Wednesday, with the U.S. benchmark down 0.3%. Gold futures GC00 dropped 2%, slipping below the $1,800 an ounce threshold.
The Shanghai Composite CN:SHCOMP fell 1.8%, while the Hang Seng Index HK:HSI was down 2% and Japan’s Nikkei 225 JP:NIK dropped 3.1%.
European stocks closed higher after a choppy trading session Thursday, as global markets reacted to the latest policy decision from the U.S. Federal Reserve.
*On the data front, Germany’s GfK consumer sentiment index came in at -6.7 points heading into February from a revised -6.9 points a month ago, exceeding average analyst expectations for a drop to -7.8.*
*Deutsche Bank climbed 4.4%* after defying market expectations to post a profit for the fourth quarter of 2021, as investment bank revenues rose.
*What to watch this week:*
Euro zone economic confidence, consumer confidence Friday.
U.S. consumer income, University of Michigan consumer sentiment Friday.
*Currencies*
The Bloomberg Dollar Spot Index rose 0.7%
The euro fell 0.9% to $1.1143
The British pound fell 0.6% to $1.3380
The Japanese yen fell 0.6% to 115.35 per dollar
*Bonds*
The yield on 10-year Treasuries declined six basis points to 1.80%
Germany’s 10-year yield advanced two basis points to -0.06%
Britain’s 10-year yield advanced three basis points to 1.23%
*Commodities*
West Texas Intermediate crude fell 0.4% to $87.01 a barrel
Gold futures fell 2% to $1,795.80 an ounce.
By: via @AlliesFin Serve Stock Market
