Apple, Amazon, Lucid, Chevron: What you should be aware of today in the stock market

57 Markets

Wall Street indices slide after several key earnings reports highlight risks from supply congestion and difficulty finding labor. Here’s what we see when trading on Friday:

  • Amazon and Apple reported quarterly results that showed how supply chain problems and tight labor markets stumble upon even some of the biggest business winners of the pandemic era.
  • Lucid Group is expanding its profits after closing Thursday’s regular session up 31%. The electric vehicle maker announced earlier this week that shipments of its first “Dream Edition” Lucid Air luxury electric sedans will begin on Saturday.
  • MicroVision shares plunged after the developer of laser beam scanning technology reported a quarterly loss after trading closed on Thursday.
  • Chevron exceeded its earnings and sales forecasts for the last quarter.
  • Colgate-Palmolive beat estimates for the last quarter, but said a “tough cost environment” is likely to persist for a while.
  • Exxon Mobil said it expects to do share buybacks again next year after the program was suspended in 2016 to focus on deleveraging and paying the dividend.
  • AbbVie raised its dividend and raised its outlook.
  • Starbucks said its US sales were strong in the most recent quarter, despite the pandemic resurgence in China slowing its revenues.
  • Zendesk is acquiring the parent company of SurveyMonkey, an online questionnaire platform, in a $ 4.13 billion stock deal.
  • Facebook is getting a makeover – at least according to its name. The social media giant changed its name to Meta to reflect its endeavors in the online digital space known as Metaverse. Its ticker becomes MVRS.
  • Atlassian’s US-traded shares rose after the Australian software maker reported quarterly sales of $ 614 million from $ 459.5 million in the year-ago quarter.
Chart of the day
  • Investors are betting that the worst is over for Chinese e-commerce giant Alibaba after a punitive sell-off halved its market value, but they may have to wait a while for the former market darling to regain its glory.

Write to James Willhite at

Source Link

Leave a Reply