Positive trend on Wall Street, Teva rising after the reports

Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations

18:15

Trading has moved in a positive direction, with the Dow Jones up 0.4%, the Nasdaq up 0.3% and the S&P 500 up 0.6%.

17:30

Radware splits its cloud Native security business into a new company worth $ 180 million: The technology company, which is traded on Nasdaq at a market value of $ 1.33 billion, splits its Cloud Native security business into a new company, called SkyHawk Security. As part of Tiger Global investment company (One of the most prominent investors in Israeli high-tech in recent years) is investing $ 35 million in the new company, in order to help it accelerate growth.

The split joins an earlier move by Radware, an initiative it reported to accelerate growth in cloud security, which then also included the acquisition of SecurityDAM, a company affiliated with the Zisapel family.

The company adds that existing and new customers in the field will enjoy additional future products, and the existing services will continue without any interruption. The split will not materially affect Radware’s 2022 financial results.

At the same time, Radware published its first-quarter results, in which its revenue grew 10% to $ 73.7 million, and it recorded a non-GAAP net income of $ 9.6 million, an increase of 28%, and a net income of 19 cents per share – 2 cents higher Analysts’ forecasts.

17:15

Trading is relatively stable, or the Jones index has retreated 0.3%, the Nasdaq and S&P 500 are trading around the opening levels.

At the top of the Dow Boeing rises 1% and Goldman Sachs advances 0.9%, at the bottom Nike loses 3.4% and Visa sheds 1.6%.

Of the Israelis, Teva is up 2.5%, Zim is up 4.6% and Inubiz is up 1.6%. On the downside, Glamad is down 21%, Faber is down 2.4% and Iron Source is down 1%.

16:30

The trading day on Wall Street opened steadily: the Dow Jones index strengthened 0.3%, the NASDAQ index weakened 0.1% and the S&P 500 index advanced 0.2%. Against the background of trading, investors are waiting for the US interest rate decision tomorrow.

The yield on 10-year US government bonds drops by about seven basis points to a level of 2.92%.

Western Digital soars 11% after Elliott Investment Fund offers $ 1 billion to help spin the company’s flash business.

In the commodity arena, oil contracts are losing about 1.85, gold is stable at around $ 1,864 an ounce.

14:55

Company Pfizer Reported revenue of $ 25.66 billion in the first quarter today, $ 1.8 billion above analysts’ expectations, and earnings of $ 1.62 per share, 15 cents higher than expected.

14:30

2022 will be another year of decline in the pharmaceutical company’s revenue nature . The company today reduced its annual forecast and now expects revenue of $ 15.4-16 billion, compared to the previous forecast which spoke of revenue of $ 15.6-16.2 billion, compared to annual revenue of $ 15.9 billion in 2021. The reduction in the forecast is due to the effects of exchange rates, as well as due to lower expectations for revenue from the original drug Copaxone due to increased competition – $ 750 million, compared to the previous forecast of $ 850 million.

13:48

Company Sapiens Reported today that the company’s revenue in the first quarter of 2022 grew by about 6.8% to $ 117.7 million, compared to $ 110.2 million in the corresponding quarter last year. Net income for the Company’s shareholders (Non-GAAP) increased in the quarter by approximately 16.0% to approximately $ 17.3 million ($ 0.31 per fully diluted share), compared to approximately $ 14.9 million ($ 0.27 per fully diluted share) in the corresponding quarter last year.

12:10

Trading in futures contracts on US stock market indices is now stable. In Europe, slight increases in stock indices.

Company Solaredge Topped analysts’ forecasts for the first quarter in the revenue line, but missed the profit line forecasts. In late trading after the publication of the reports, its share price rose by about 2%. In the first quarter, revenues totaled $ 655 million, a growth of 61.6% compared to the corresponding quarter, and $ 20 million higher than analysts’ forecasts. According to GAAP, net income increased by 10.1% to $ 33.1 million.

Company Ormat Recorded a 10.4% revenue growth in the first quarter of the year, and they totaled about $ 184 million, higher than analysts’ forecasts. The bottom line also posted earnings per share higher than forecast – 35 cents, while analysts had expected 33 cents. At the same time, Ormat reduced its annual revenue forecast, but left the EBITDA forecast (profit excluding interest, tax, depreciation and amortization) unchanged.

10:30

The day of trading on European stock exchanges opened with slight gains. Trading in futures contracts on US stock indices is up by 0.3%.

Stock Veronis Last night (Monday) fell in late trading on Wall Street by 11%, after the company published the first quarter reports of 2022, and although it presented slightly higher-than-expected results in the reports and left the annual forecast unchanged. The first quarter ended with revenue of $ 96.3 million, a growth of 28.7% over the same quarter last year. Of the revenue, $ 69 million came from the sale of subscriptions, and the rest from maintenance and services.

08:10

Asian stock markets are trading in a mixed trend today after rising on Wall Street yesterday. The markets in Japan and China are closed for the holidays. In Hong Kong, there are slight increases.

In Australia, the central bank announced a 0.25% rate hike to 0.35%. This is the first interest rate hike in the country since November 2010.

A very volatile trading day on Wall Street ended in a positive trend last night, when the gains intensified towards the lock ring. The Nasdaq was up 1.6%, the Dow Jones was up 0.3% and the S&P 500 was up 0.6%. During the day, the indices fell by 1.5%. The 10-year bond yield, which reached 3% , Closed at the end of the day at 2.99%.

Trading in futures contracts on U.S. stock indices is up slightly. Gold and oil are trading down slightly.

The players in the markets in Israel and around the world are eagerly awaiting tomorrow evening. At 21:00 Israel time, at the end of a two-day meeting, the Federal Reserve (US Federal Reserve) Open Market Committee is expected to announce its decision on the level of interest rates. R. Fed., Jerome Powell. The impending decision follows a rate hike last month, for the first time since 2018, and dramatic timing in financial markets that have moved away from the peak to bear territory (defined as a 20% drop from the peak. The expander taken since the Corona crisis.

In the crypto arena, Bitcoin is trading down slightly around 38,400 and Etherium is also recording a slight decline.

By Editor

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