Day: October 31, 2024

Intel Stock Jumps as Sales Top Estimates Despite Widening Losses

https://preview.redd.it/1e9kfgro06yd1.png?width=960&format=png&auto=webp&s=182fe6ff67015ed56d8a80853c61c0d0316a0dc3 Intel reported third-quarter revenue that topped analysts’ expectations, sending shares higher after the bell Thursday despite widening losses. The chipmaker’s third-quarter revenue fell 6% year-over-year to $13.3 billion, above the $13.03 billion consensus estimate of analysts compiled by Visible Alpha. Intel posted a wider-than-expected loss of $16.6 billion, after reporting a $1.61 billion loss in the second quarter as the chipmaker works to cut costs. A year ago, the chipmaker had reported a profit of around $300 million. Intel said it anticipates fourth-quarter revenue of $13.3 billion to $14.3 billion, compared to a consensus estimate of $13.66 billion. It projects a loss of 24 cents per share, steeper than the loss of 12 cents per share analysts had been expecting. Results Come as Chipmaker Works To Turn Around Business Intel’s results come as the storied chipmaker tries to turn around the business after losing market share to competitors and missing key opportunities to benefit from the boom in demand for artificial intelligence (AI). Shares took a hit in recent months as worries mounted about its ability to engineer a comeback after reporting wider-than-expected losses in the prior quarter and announcing massive layoffs. Intel shares surged over 14% in extended trading following the release. They were down more than 57% for the year through Thursday’s close, making it one of the worst-performing S&P 500 stocks of the year. submitted by /u/Lor1al [link] [comments]

💰 Gold is back in the spotlight! According to the latest data from OCBC analysts, demand for gold continues to grow. This is due to the risk premium caused by the upcoming US elections. With each passing day approaching election day, investors are becoming more and more cautious.

🔄 Decentralized betting markets are seeing a significant increase in the Trump vs. Harris spread, which is tilting more in favor of Donald Trump every day. This creates additional worries about tariffs, inflation and fiscal problems. 📈 Our material notes that at the time of writing gold (XAU) is trading at a price of 2783.! submitted by /u/Yuriy_UK [link] [comments]

Current situation. What’s happening?

Stocks are falling like the economy is bracing for a recession Oil prices are rising like the recession was cancelled Gold prices are falling like inflation is gone Bonds are falling like inflation has rebounded Interest rates are rising like the “Fed pivot” is over https://reddit.com/link/1ggn6v6/video/k1p6r0mza5yd1/player submitted by /u/XGramatik [link] [comments]

UBER FALLS 4.1%. Did anyone doubt it?

earnings out UBER 3Q EPS $1.20 UBER 3Q REV. $11.19B, EST. $10.99B UBER 3Q GROSS BOOKINGS $40.97B, EST. $41.24B UBER SEES 4Q ADJ. EBITDA $1.78B TO $1.88B, EST. $1.84B submitted by /u/XGramatik [link] [comments]

🗽🕛US500 📈🤔🤓⚙️ On the weekly timeframe, the US500 breaches below the trendline and faces the crucial 5780 support level. The 200-MA provides an additional layer of support for the asset.

🗽🕛US500 ⚙️ On the weekly timeframe, the US500 breaches below the trendline and faces the crucial 5780 support level. The 200-MA provides an additional layer of support for the asset. 📉 The RSI leaves the overbought zone, and the MFI shows multiple bearish divergences in the Weekly timeframe. Bearish Engulfing candlestick patterns have also formed on the chart, which led to severe corrections in the US500 in previous cycles. Goldman Analysts predict that US500 has entered an intense correction phase, citing that the concentration of the largest stocks in the SP500 has now reached levels similar to the Great Depression bubble in the US. submitted by /u/Yuriy_UK [link] [comments]

BNP Paribas shares drop sharply as quarterly results disappoint

https://preview.redd.it/qjgo4q02b2yd1.png?width=800&format=png&auto=webp&s=a58c8dd33146679e58688bb6be11c4d3ae792f67 Paribas shares dropped sharply on Thursday as third-quarter results from its investment banking division, lower than expected capital buffers and weaker than expected sales in Belgium disappointed investors. Increased trading activity at BNP’s investment banking division ensured the euro zone’s largest lender hit its profit forecast, but that still compared unfavourably with forecast-beating results from some of its rivals for the three months to Sept. 30. BNP shares were down about 6% by 0813 GMT. “Areas such as equity revenues and retail revenue performance will be questioned,” analysts at Keefe, Bruyette & Woods said in a note to clients. “BNPP reported an underwhelming set of results.” Analysts also pointed to capital buffers (CET1) of 12.7% compared with expectations of 12.9%. Jefferies said it had hoped for a better performance at BNP’s investment bank division, CIB. BNP said group net income over the three-month period was up 7.8% from a year earlier on a reported basis at 2.87 billion euros ($3.11 billion), in line with the 2.86 billion euro consensus in analyst estimates compiled by the company. Revenue rose 3.1% on a reported basis to 11.9 billion euros, meeting expectations while the cost of risk — money set aside for bad loans — was 729 million euros, against analyst expectations of 859 million euros. BNP, led by long-time CEO Jean-Laurent Bonnafe, has been expanding its investment banking operations to counter slower growth in its retail division The lender has also turned to acquisitions, with recent planned deals including AXA’s asset management arm, AXA IM, for 5.1 billion euros, a 9% stake in insurance company Ageas and HSBC’s private banking activities in Germany. BNP’s equity and prime services sales rose 13% year on year while fixed income, currencies and commodities (FICC) registered a 12% gain, slightly better than performance at Germany’s Deutsche Bank. Global corporate financing and advisory services grew by close to 6%, BNP said. By contrast, revenue at its commercial and consumer finance division CPBS fell 2.6%, weakened by its car-leasing unit Arval as used car prices continued to drop. BNP Paribas reported a 1.7% rise in third-quarter net interest income from a year earlier, navigating a challenging French retail market in which strict mortgage rate regulations and fixed savings accounts deny banks the interest rate windfalls enjoyed by rivals elsewhere. The French lender also confirmed its 2024 targets, including revenue growth of more than 2% compared with 2023 and group net income of more than 11.2 billion euros. submitted by /u/Lor1al [link] [comments]

Coinbase earnings fall short of estimates as trading volumes sag

https://preview.redd.it/abb1h68ua2yd1.png?width=800&format=png&auto=webp&s=55c30a45b69372db7ad564d4d8d3fdf989923bd8 Coinbase reported third-quarter earnings that fell short of Wall Street estimates as weakness in cryptocurrencies during the quarter kept a lid on trading volumes. Shares in the cryptocurrency exchange fell in premarket US trading on Thursday in the wake of the report. Coinbase posted second-quarter earnings per share (EPS) of $0.28 on revenue of $1.2 billion, compared with Wall Street expectations for EPS of $0.45 on revenue of $1.25 billion. The miss comes as trading volume was hit by weakness in digital token markets, with the total crypto market cap dropping 10% sequentially in the third quarter. Total trading volume in the US spot market, which accounts for the bulk of Coinbase’s revenue, declined 18% quarter-on-quarter. This pressured transaction revenue, which was down by 27% from the previous quarter to $573 million. However, analysts at Canaccord Genuity noted that the company continued to expand its business through new revenue sources, including custodial services. Coinbase said the amount it collected from fees related to acting as custodian for several recently-launched spot Bitcoin exchange-traded funds rose by $31.7 million from $15.8 million last year. The increase reflected an uptick in inflows into these funds. Meanwhile, Coinbase Chief Executive Officer Brian Armstrong delivered an upbeat prediction for more regulatory clarity in the crypto industry heading into the all-important US presidential election on Nov. 5. Both Republican Party candidate Donald Trump and Democratic rival Kamala Harris are “now courting the crypto voter in their statement,” Armstrong said. Regardless of the outcome of the ballot, he added that Coinbase expects to see the “most pro-crypto” US Congress “ever” following the vote. submitted by /u/Lor1al [link] [comments]

Microsoft and Meta shares fall in Frankfurt despite earnings beat

https://preview.redd.it/hsucowrka2yd1.png?width=800&format=png&auto=webp&s=6573973202fceb552c0b38361ec744dfea425688 Frankfurt-listed shares in Microsoft and Meta both fell in early trading on Thursday, even as earnings at the two U.S. tech groups beat Wall Street expectations. Microsoft predicted slower growth in its cloud business Azure and Facebook owner Meta warned of “significant acceleration” in artificial intelligence-related infrastructure expenses next year. By 0711 GMT, Microsoft shares were down 5.1% in Frankfurt and Meta slipped 2.6%. As a result, Nasdaq futures dropped over 1%. submitted by /u/Lor1al [link] [comments]

THIS IS THE CRAZIEST YEAR IN THE FINANCIAL MARKETS IN MODERN HISTORY

1) S&P 500 is up 22% year-to-date and hit 47 all-time highs this year 2) Bitcoin, Nasdaq and Utilities are trading at record highs 3) Gold is up 34%, hit 41 all-time highs and is on track for the best performance in 45 YEARS 4) Silver skyrocketed 43% and is trading at levels not seen in 12 YEARS 5) Oil prices are crashing like a recession is coming 6) 71% of global central banks have cut rates this year, the highest share since the COVID CRISIS and more cuts are coming 7) US posted the 3rd largest BUDGET DEFICIT in its entire history of $1.83 TRILLION 8) US Federal Debt is at a record $35.8 TRILLION 9) The US economy lost 1 MILLION full-time jobs lost in a year 10) US job numbers were revised down by a MASSIVE 818,000 for the 12 months through March 2024, the most since the Great Financial Crisis 11) Americans stock exposure is 48%, in line with the Dot-Com Bubble levels 12) The share of US consumers expecting higher stock prices over the next 12 months hit 51.4%, the HIGHEST EVER 13) Americans’ executives selling stocks like crazy 14) US Big Tech market concentration is the largest since the Great Depression 15) US core CPI Inflation has been at or above 3% for 41 months 16) US has seen 512 LARGE bankruptcies in 2024, 2nd highest in 14 YEARS 17) Meanwhile, US GDP growth is around 3% 18) US stocks valuations are the second-highest since the 2000 Dot-Com Bubble peak What could possibly go wrong? submitted by /u/glira31 [link] [comments]

Robinhood’s Crypto Gains Failed To Stop 12.5% Drop in Share Price

Robinhood (Nasdaq: HOOD) had a strong third quarter, with crypto trading volumes doubling to $14.4 billion. This led to a 65% spike in crypto revenue, pulling in $61 million. Yet, despite these wins, it wasn’t enough to keep its stock from slipping. According to Wednesday’s earnings report, the American trading platform pulled in $637 million in Q3 revenue—a 36% year-over-year increase. Transactions-based revenue grew impressively to $319 million, a 72% boost. While crypto might’ve posted the largest revenue increase, options trading took the lead as the top revenue generator, raking in $202 million, up 63% from last year. Meanwhile, equities trading also made gains, rising by 37% to hit $37 million. Robinhood’s net income surged to $150 million, translating to $0.17 in EPS, a huge leap from the $85 million loss it reported in Q3 2023. The platform added 1 million funded accounts year-over-year, totaling 24.3 million, with investment accounts hitting 25.1 million. Average revenue per user (ARPU) also grew by 31% to $105. Yet, Wall Street had higher hopes. Despite Robinhood’s financial momentum, shares took a 12.5% dip in after-hours trading. The Zacks Consensus Estimate had predicted $661.21 million in revenue and an EPS of $0.18, setting a bar Robinhood narrowly missed. So, while crypto gains shone bright, the markets were left wanting just a little more. https://preview.redd.it/35jhmlbwp1yd1.png?width=947&format=png&auto=webp&s=5341e8a9e0926ff2615763733e8e95b8dd6580bf submitted by /u/FXgram_ [link] [comments]