- Wall Street in weak mood at start of Friday session
- Berkshire Hathaway takes a stake in Domino's Pizza
- Alibaba results and Applied Materials in the background
US markets open Friday's cash session in a weak mood. As of 20 minutes after the Wall Street open, the Nasdaq is losing 1.4%, while the S&P500 is down 0.75%. Investor attention today is focused on corporate news and retail sales and industrial production data from the US.
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Create account Try a demo Download mobile app Download mobile appCurrent volatility observed on Wall Street. Source: xStation
US100
The Nasdaq-100 index, represented by the US100 contract is trading lower today relative to yesterday's close by nearly 1.4%. However, the index continues its dynamic upward trend all the time. From a technical perspective, it seems that the support set by the 50-day EMA (blue curve on the chart) and the psychological level of $20,000 may be key to maintain the overall upward momentum.
Source: xStation 5
Corporate news
Alibaba (BABA.US) is gaining slightly early in today's session, after the company's earnings came in above expectations, even though revenue results disappointed.
Q2 RESULTS
- Revenue 236.50 billion yuan, +5.2% y/y, estimated 239.43 billion yuan
- Adjusted earnings per share 15.06 yuan vs. 15.63 yuan y/y, estimated 14.93 yuan
- Adjusted EBITDA 47.33 billion yuan, -3.9% y/y, estimated 46.89 billion yuan
Applied Materials (AMAT.US) shares fall 8.3% after the company issued a forecast that raised concerns about continued demand in the semiconductor sector.
FIRST QUARTER FORECAST
Net sales of between $6.75 billion and $7.55 billion, the estimate was $7.25 billion
Adjusted earnings per share of $2.11 to $2.47, estimated $2.28
FOURTH QUARTER RESULTS
Adjusted earnings per share $2.32 vs. $2.12 y/y, estimated $2.19
Net sales $7.05 billion, +4.8% y/y, estimated $6.97 billion
Semiconductor Systems net sales $5.18 billion, +6% y/y, estimate $5.13 billion
Applied Global Services net sales $1.64 billion, +11% y/y, $1.61 billion estimate
Adjusted gross margin 47.5% vs. 47.3% y/y, estimate 47.4%
Domino's Pizza (DPZ.US) rises 2% after Berkshire Hathaway bought shares in the pizza chain.
Moderna (MRNA.US) and other vaccine makers saw declines after President-elect Donald Trump said he was picking vaccine skeptic Robert F. Kennedy Jr. to head the Department of Health and Human Services.
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