Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
The trading day on Wall Street closed with declines, following the macro data released before the opening of trading. Leading stock indices fell 0.6% to 1.7% at the close.
Tesla Recorded an increase of 4.3% at the end of a volatile day, Faber jumped by 9.2% while Perrigo fell by 11% and Similarov by 13.5% after both published reports today.
Monday also fell by 21% after the reports it published and on the other hand Faber jumped by 9.2%.
The declines in Wall Street are intensifying and the leading stock indices are retreating 0.6% to 1.5%.
In the commodities trading segment, a contract for WTI oil is down 3% and a contract for an ounce of gold is up 0.9%.
The yield on 10-year US government bonds jumps to 1.54% following the inflation data released today. The euro is down 0.8% to $ 1.1495 per euro.
Shares of electric vehicle maker Rivian (NYSE: RIVN) jumped 42% on the first trading day. Perigo is down 12%.
European stocks closed higher. On Wall Street, the negative trend continues and the leading indices retreat by 0.1% -0.6%.
Stock Dordash Soars after announcing today that it is acquiring the 7-billion-euro-based Volt courier company. Walt will continue to operate – including the name, app and staff of the countries in which it operates. The companies signed the agreement when they announced that they “share a common goal to build a global technology platform for local trade, which makes customers the best products in their area, increases the revenue of local businesses, and provides significant livelihoods for millions of couriers around the world.”
Tesla moved up about 4%. Sharp rises are even more prominent Pfizer , MasterCard and Juniper. On the other hand, AMD And Lucid stand out in sharp declines.
Following the inflation data released today in the US, Guy Beit-Or, Psagot’s chief economist, notes: “We see evidence that the jump in wages and the warming of the real estate market are permeating the consumer price environment that is expected to continue to press in the coming months.
Therefore, he writes, “We continue to estimate that there is a high chance that the Fed will accelerate the reduction in quantitative easing and raise interest rates during the first half of 2022, otherwise it will risk losing control over long-term inflation expectations, which could lead to a widening link between wages and inflation. At the same time, the economic slowdown is expected to continue and intensify into the winter, when both the erosion of purchasing power and the consumption of sustainable products are expected to weigh on private consumption, and the supply chain crisis is expected to weigh on production and investment. “We continue to estimate that the best integration in the bond market is exposure to long-term nominal bonds that will be positively affected by increased market volatility and economic weakness, along with increased exposure to the short-to-medium-term linked channel that will continue to enjoy inflationary surprises.”
New York trading day opened with declines of up to 1.1% after the publication of inflation data.
Tesla Continues to lose height and also Monday and Thyme go down after the reports they published. Faber Leaping after the reports.
Company SimilarWeb Reported today that Revenue was $ 35.6 million in the third quarter, up 46% from the third quarter of 2020. GAAP operating loss was $ 16.7 million. Compared to $ 4.8 million in the third quarter of 2020.
The non-GAAP operating loss was $ 13.9 million. Compared to $ 2.4 million in the third quarter of 2020. The loss per share under GAAP was 23 cents compared to a loss of 40 cents per share in the third quarter of 2020.
The US Consumer Price Index (CPI) has risen 6.2% in the last 12 months, above economists ‘expectations of an increase of 5.8% -5.9%. The price index recorded a 0.9% increase last month, above economists’ expectations of a 0.6% increase. The core increased by 0.6% compared to the expected increase of 0.4%.
Initial claims for unemployment benefits last week stood at 267,000, compared with economists’ expectations of 257,000 claims.
Thyme Digital , Which manufactures digital printing systems for printing on textiles, recorded revenue of $ 86.7 million in the third quarter of this year, net of an accounting impact of $ 7.9 million for warrants to Amazon. This is a growth of 51% compared to the corresponding quarter (excluding the effect in both quarters). Non-GAAP net income was $ 11.5 million, which is 24 cents a share. The forecast for the fourth quarter is for revenue of $ 89-93 million, with non-GAAP operating profit of 13% -15% of revenue.
Company CEO Ronen Samuel said: “I am very proud of our phenomenal performance in the third quarter, with record revenues in all of our operating areas, profitability and very strong cash flows. We are witnessing a change in the fashion industry with an acceleration towards sustainable production and on demand – a revolutionary moment in the way we all think and act about fashion, from the need for self-expression to responsible production. Thyme is leading the digital transformation that the fashion industry must undertake, with the provision of innovative solutions that bridge the gaps that exist between the imagination and the physical applications. “We are entering 2022 with very strong business data and a growing demand for our leading solutions, which puts us firmly on track to become a billion dollar company in 2026.”
Perrigo Dives 11% in both the Tel Aviv Stock Exchange and early trading on Wall Street, after publishing disappointing reports. The company presented lower results than the analysts’ forecasts in the revenue line and the profit line, and at the same time presented a weak annual profit forecast. Excluding various accounting items, Perrigo posted adjusted net income of $ 61 million, down from $ 83 million in the same quarter last year, and net income per share was 45 cents, while analysts expected 65 cents. From the beginning of the year, adjusted net income was $ 1.45 per share.
also Monday The Israeli published results, and the stock is down about 3% in early trading. Its third-quarter revenue jumped 95 percent to $ 83 million, and the company posted a basic, diluted net loss per share (26 cents) of 26 cents, compared to a 81-cent loss in the third quarter of 2020. The company expects fourth-quarter revenue to be $ 87. $ 88 million (an increase of about 74% compared to last year), and for the entire year it estimates that revenues will reach about $ 300 million (an increase of 86%).
On the other hand, Dordash continues to stand out and jumps by 14% towards the acquisition of Volt.
The AutoTech Company Invis Loses 6% in pre-trade after announcing its third-quarter results, which grew by 13.4% and posted revenue of about $ 2.1 million, but at the same time its net loss increased to $ 26.4 million (compared to $ 15.7 million in the same quarter last year). Since the beginning of 2021, Invis’ revenue has reached $ 3.8 million, an increase of 3.6% compared to the same period in 2020, and the net loss increased by 143% to about $ 120 million. The cash flow from operations in the third quarter was negative by $ 26.3 million and at the end of the quarter the company had about $ 325 million in cash.
Omar Kilf, CEO and founder of Invis, said the company has a unique status towards winning new design contracts, given its rich experience in the automotive field, growing capabilities and product portfolio.
also Monday Loses height in early trading and drops by about 5%. Dordash , Which last night reported the acquisition of the Finnish Volt, jumps by 17%.
A change of direction in European stock markets, which are now trading in a mixed trend. The Dax and Kak indices are down 0.1%, the Potsy is up 0.3%. In the futures sector as well, the trend is again negative, with 0.2% declines in the contracts of the three major indices.
corporation Alstom The Frenchman, who is involved in transport and rail, among other things, jumps close to 10% in the highest trading volume in the Kak index, after the Egyptian National Tunnel Authority (NAT) signed a contract worth 876 million euros to supply 55 electric trains with nine cranes, as well as a contract Eight-year maintenance to upgrade Cairo’s 1st line 44.3 km long. Each such train has a capacity of more than 2,500 passengers.
Trading in Europe opened with price increases, with London’s Potsy rising 0.2% and Dax and Kak up 0.1%. Futures contracts show a change in trend and now the contracts are trading stably, with the contract on NASDAQ even recording a slight increase.
The fashion and sports company stands out in Frankfurt Adidas Which loses about 4%, Deutsche Bank Increases by 1%. In London the energy giant BP Strengthening in light of rising oil prices, and banks and investment houses are also strengthening.
In China, trading closed down, with the Shenzhen and Shanghai stock markets down 0.4%. The Hong Kong Hang Seng Index, on the other hand, erased the decline it recorded earlier in the day and closed up 0.6%, amid sharp gains from Country Garden, China Overseas, China Resource Land and Tencent.
Faber The Israeli published results for the third quarter. Revenue for the third quarter was $ 74.3 million, up 42% from the same quarter last year and compared to analysts’ forecasts of $ 71.1 million and the company’s forecast of $ 68-72 million.
Trading on the Asian stock markets is taking place this morning in a negative trend. The Nikkei index lost close to 0.7%, with the Shanghai and Shenzhen stock exchanges falling by 1%. The Hong Kong Hong Kong Index is down 1.1%.
In Tokyo, the stock of carmaker Nissan stood out, which jumped 7% in the highest trading volume in the Nikkei index, while Softbank Corporation lost 3.6%. In Hong Kong, electric vehicle maker Gili is down 3.6%, Shiomi and Petrochina are down 1%.
In the crypto market as well, the trend is negative, with bitcoin falling close to 3% to a level of $ 66.4 thousand. Heather also weakened slightly and traded for $ 4,708.
In the commodity market the gains are moderate this morning, after last night oil reached a two-week high when the WTI oil contract for delivery in December rose by 2.7% and Brent oil for delivery in January rose by 1.6%. This morning they are trading at $ 84.3 and $ 85.2 per barrel respectively.
On Tuesday, the sequence of gains recorded by the major New York indices broke, and yesterday the negative trend continued. The NASDAQ index fell 0.6%, the Dow Jones and S&P 500 lost 0.3%. This morning, too, the red screens in the trading arena on Wall Street futures, signaling a 0.3% decline in the three major indices. Inflation data from the US as well as data from the initial unemployment claims last week will be published.
Reports are expected to be published today Faber , Iron Source , Celebrity , thyme , Pioneer , Monday (Which jumped 16% yesterday without background reporting), Walkmi , Invis andSimilarWeb . Apart from Israeliness, the results of Walt Disney, Marks & Spencer and more will be published.