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Adobe sets a new revenue record but the stock is falling
One of the largest software companies in the world, Adobe Inc. (NASDAQ: ADBE) announced Q1 FY2024 earnings results after the market closed in the US on Thursday. The company achieved revenue of $5.182 billion – a new record vs. $5.143 billion expected. Revenue grew by 11% year-over-year. Earnings per share (EPS) was reported at $4.48 (up fr...
March 15, 2024
Read More > FX Analysis – Gold rebounds, USDJPY whipsaw, EURUSD holds key support
USD saw marginal weakness on Wednesday in a quiet news day. The US Dollar Index (DXY) pushing to lows after a strong 30yr Treasury saw yields drop and DXY briefly breaking beneath Tuesdays low of 102.72. A turn around later in the session saw DXY retake the 50% Fib support level at 102.80 ahead of today’s Retail Sales, Jobless Claims, and PPI d...
March 14, 2024
Read More > Lennar Q1 2024 financial results announced
Lennar Corporation (NYSE: LEN) has had a good start to 2024 with the share price up by over 11% reaching new all-time highs. On Wednesday, it was time for the US construction company to release the latest financial results for Q1 2024, ending on 29/2/24. Lennar reported revenue of $7.313 billion for the quarter, which was below estimate of $7...
March 14, 2024
Read More > Oracle stock rises in after-hours as earnings top Wall Street expectations
Oracle Corporation (NYSE: ORCL) announced the latest financial results for Q3 of fiscal 2024 after the market close on Monday. The US software and hardware manufacturer did not disappoint investors as both revenue and earnings per share (EPS) topped estimates. The company achieved revenue of $13.3 billion for the previous quarter vs. $13.286 ...
March 12, 2024
Read More > FX Analysis – Yen surges on BoJ jawboning, Gold sets another ATH, EUR breaks key level
USD was notably weaker in Thursday’s session ahead of the pivotal NFP report on Friday. The US Dollar index falling for the fifth straight session and breaking below 103 to touch on the Jan 24 lows before finding some support. Risk-on sentiment, a fall in yields and weak jobless claims data being the main drivers of the Greenback decline. ...
March 8, 2024
Read More > Costco tops EPS but falls short on revenue
Broadcom Inc. (NASDAQ: AVGO) wasn’t the only company releasing the latest earnings report on Thursday. World’s second largest supermarket chain Costco Wholesale Corporation (NASDAQ: COST) also announced their results after the closing bell on Wall Street. Costco reported revenue of $57.33 billion vs. $59.111 billion expected. Revenue rose...
March 8, 2024
Read More > Broadcom beats Wall Street expectations
Broadcom Inc. (NASDAQ: AVGO) announced its latest financial results after the US market closed on Thursday. The US tech giant achieved revenue of $11.961 billion in the first quarter of fiscal year 2024 (up by 34% year-over-year) vs. $11.759 billion estimate. Earnings per share was reported at $10.99 (up by 6.38% year-over-year) vs. $10.368 p...
March 8, 2024
Read More > JD.com earnings announced – the stock is up
It hasn’t been the best start to 2024 for JD.com Inc. (NASDAQ: JD) with the stock down by over 14%. On Wednesday, the Chinese e-commerce company announced the latest financial results, which sent the stock higher. Beijing based company achieved revenue of $43.111 billion vs. $42.216 billion expected. Revenue increased by 3.6% year-over-year...
March 7, 2024
Read More > FX Analysis – Risk-off sees Gold soar to all time highs, Yen outperforms after hot CPI
Risk off returned to the markets in Tuesdays session with US equity markets pulling back sharply led by tech stocks with the NASDAQ being the biggest loser, shedding 1.65%. The big headline for the day in FX was gold touching on all-time highs, rallying for a fifth straight session, buoyed by haven flows and a drop in US treasury yields. XAUUSD ...
March 6, 2024
Read More > NIO Q4 2023 and full-year results are here
Last week, Chinese electric vehicle manufacturer NIO Inc. (NYSE: NIO) released its latest delivery numbers for February. On Tuesday, it was time for the company to announce Q4 2023 and full-year financial results. Let’s take a closer look at how the company performed. NIO achieved revenue of $2.409 billion for the last three months of 2023, wh...
March 6, 2024
Read More > Target stock rallies as earnings exceed expectations
American supermarket chain Target Corporation (NYSE: TGT) announced the latest earnings results before the opening bell on Wall Street on Tuesday. Target reported revenue of $31.919 billion for the previous quarter vs. $31.827 billion expected. Earnings per share (EPS) also topped estimates at $2.98 vs. $2.416 per share expected. Revenue a...
March 6, 2024
Read More > FX analysis – Gold hits new closing high, USDJPY holds above 150, DXY flat despite rising yields
Gold surged again in Monday’s session despite a rise in US Treasury yields and setting a new closing high. There was little fundamental news to drive the rally though a comparable surge in the Crypto markets has seemingly given the other “alternative” currency a tailwind. This is four up sessions for gold and with momentum behind it is eyeing...
March 5, 2024
Read More > NIO deliveries fall year-over-year
NIO Inc. (NYSE: NIO) has had a terrible start to 2024 with the stock plummeting by over 35% year-to-date. On 23/2/24, JP Morgan Chase & Co. downgraded its price target for NIO from $8.50 to $5 a share, citing "weakness to the company's slow sales in January and investor concern on the company's sales and earnings momentum in 2024." On Fri...
March 4, 2024
Read More > Hewlett Packard stock dips after mixed quarterly results
Hewlett Packard Enterprise Company (NYSE: HPE) released earnings results for Q1 of fiscal 2024 after the US market closed on Thursday. The American information technology company reported revenue of $6.8 billion for the three months ending on 31/1/24 vs. $7.089 billion estimate. Revenue was down by 14% year-over-year. Earnings per share (EPS)...
March 1, 2024
Read More > Salesforce financial results announced – the stock is falling
American customer relationship management company Salesforce Inc. (NYSE: CRM) released the latest financial results after the closing bell on Wall Street on Wednedsay. Salesforce achieved revenue of $9.287 billio for the fourth quarter of fiscal 2024 vs. $9.223 billion expected. Revenue increased by 11% from the same period the year before. E...
February 29, 2024
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