- Wall Street indices opened lower today
- US retail sales and industrial production data beats estimates
- Horizon Therapeutics plunges as Amgen deal could be blocked
Wall Street indices launched today's cash session lower with Russell 2000 (US2000) being a top underperformer and dropping over 1%. Other major US indices traded 0.2-0.5% lower in the first minutes of trading. A better-than-expected US retail sales and industrial production data for April failed to support equities although USD caught a bid following those macro releases.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appIn spite of beat in US macro data for April, S&P 500 futures (US500) trade a touch lower today. Index continues to trade near 4,150 pts resistance zone, marked with previous price reactions and 50% retracement of the downward move launched at the beginning of 2022. On one hand, repeated failures to break above the 4,150 pts zone show that bulls are lacking steam. On the other hand, each failure to break above 4,150 pts resulted in a rather shallow pullback, suggesting that bears are similarly unable to take control. Having said that, we may need a catalyst to trigger another big move. Failure to reach agreement on US debt ceiling could be one of such catalysts.
Company News
Horizon Therapeutics (HZNP.US) is plunging today following a Reuters report. Reuters reported that the US Federal Trade Commission is set to block Amgen's (AMGN.US) planned acquisition of Horizon Therapeutics. FTC is worried that the deal would hamper innovation and slow the pace of drug development. Amgen and Horizon agreed on a $27.8 billion deal in December last year and a tie-up was expected to be finished in the first half of 2023.
Capital One (COF.US) is trading higher today. Upward move on a stock is driven by regulatory filing that showed Berkshire Hathaway (BRKA.US), led by Warren Buffet, taking a $950 million stake in Capital One in Q1 2023.
Horizon Therapeutics (HZNP.US) slumped on reports that FTC may block deal with Amgen (AMGN.US). Shares trade almost 20% lower and is one of the worst performing Wall Street stocks today. Buyers are currently attempting to halt sell-off at $91.00 support zone, marked with 200-session moving average (purple line). Source: xStation5
Nu Holdings (NU.US) traded higher following the release of a better-than-expected earnings report for Q1 2023. Q1 revenue came in at $1.60 billion (exp. $1.40 billion) while adjusted net income reached $182.4 million (exp. $113.4 million). This compares to an adjusted net income of $10.1 million in a year ago quarter (Q1 2022). Company reported a 33% YoY increase in client count, to 79.1 million (exp. 79.6 million) and total deposits at $15.76 billion (exp. $16.92 billion).
Dish Network (DISH.US) launched today's trading over 6% higher. Move was triggered by insider stock transactions, namely company's director James Defranco reported that he had purchased 3 million of company's shares, for a total of $18.6 million.
Nu Holdings (NU.US) s'est négocié à de nouveaux sommets sur un an après la publication d'un solide rapport sur les résultats du premier trimestre 2023. Alors que le stock a déjà effacé une partie du saut, il se négocie toujours près de 8% plus haut sur la journée. Source : xStation5
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