Alfred Gray

AIRBNB $ABNB

Shares of Airbnb fell about 3% in after-hours trading Wednesday, despite reporting better-than-expected revenue for the quarter. The decline came after the company reported a weaker-than-expected outlook for the upcoming fiscal period.

According to data from LSEG, formerly known as Refinitiv, Airbnb reported earnings of $6.63 per share in the recently ended quarter,...
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Match Group reports 3Q results and posts weaker outlook for the upcoming quarter

Match Group, a technology company that operates several online dating sites, released its 3Q 2023 results. Adjusted operating profit was up 17% from the same period last year. In the outlook, the company accounts for negative effects related to exchange rate developments and geopolitical events in...
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Intel surprised with 4Q outlook

US technology company Intel presented its quarterly results for 3Q 2023. The company managed to beat expectations. The outlook also pleased investors.

Financial results

Revenues fell year-on-year from USD 15.34bn to USD 14.16bn. Cost of sales also saw a year-on-year decline, from USD 8.80 billion to USD 8.14 billion.

Gross margin was USD 6.018...
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Eurozone: ECB rates unchanged, deposit rate at 4.0%

ECB refinancing rate (26 October):
current value: 4.5%
market expectations: 4.5%
previous value: 4.5%

ECB lending rate (26 October):
current value: 4.75%
market expectation: 4.75%
previous value: 4.75%

ECB deposit rate (26 October):
current value: 4.0%
market expectation: 4.0%
previous value: 4.0%

Snap returns to revenue growth in 3Q after two periods of decline

US-based Snap, whose business is the social network Snapchat, has released its second-quarter earnings results.

Results

Snap's revenue grew 5.3% year-on-year.

North American revenue fell 3.1% year-on-year to $786.2 million. USD 788 MILLION. Analysts had expected $736.3 million in revenue. USD 778 MILLION.

Revenue from...
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3M raises its full-year outlook after last quarter

US multinational conglomerate 3M reported its third quarter results. Within these, it reported sales and earnings per share above analysts' expectations and raised its full-year outlook on both earnings per share and cash flow.

3Q results

On a revenue level, the company generated $8.31 billion in the third quarter, down 3.6% year...
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Expected events: consumer confidence (Eurozone), Chicago Fed activity index (USA)

Eurozone:

16:00 Consumer Confidence (October - preliminary): market expectation: -18.4, previous reading: -17.8

US:

14:30 Chicago Fed Activity Index (September): market expectation: -0.01, previous value: -0.16

USA: September state budget deficit of USD 171bn vs. USD 166bn expected

State budget ...
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The US manufacturer of WD-40 oils and lubricants has released its fourth quarter results for 2023.

Results

The company's revenue grew 7.7% year-on-year with a gross margin of 51.4%.

Sales in the U.S. market for fiscal year 2023 increased 11% year-over-year to $266.8 million. USD 6.6 BILLION.

Sales in Europe, Africa and Middle East for fiscal year 2023 decreased 7% year-on-year to ...
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WELLS CARGO RESULTS FOR 3Q (USA)

US bank Wells Fargo beats analyst consensus on almost all levels with its 3Q 2023 results and has once again raised its outlook for the full fiscal year 2023.

3Q results

Among the segments, consumer banking earned Wells Fargo the most, at USD 9.58 billion. Corporate and investment banking earned $4.92 billion. Commercial banking and wealth...
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On Wednesday, the minutes of the US Fed meeting held on 19-20 September will be published, at which the FOMC members left rates unchanged in the range of 5.25-5.5%. The next Fed meeting takes place from 31 October to 1 November and the money market is currently pricing in only a 16% chance of a Fed-indicated next rate hike (the latest so-called dot plot with individual FOMC...
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WHAT ATTACKING ISRAEL MEANS FOR THE MARKETS

This weekend saw a significant escalation of violence as surprise attacks from Gaza claimed hundreds of lives, dozens of captives and thousands of wounded. This disturbing development has cast a shadow over the ongoing peace talks between Israel and Saudi Arabia and raised questions about the possibility of their continuation. Although...
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Levi Strauss $LEVI, the well-known jeans retailer, again cut its full-year sales forecast following poor quarterly earnings results that fell short of Wall Street expectations. The company's shares fell slightly in extended trading as shopping trends at department stores and major retail chains in the U.S. weakened.

Levi's had expected its fiscal third quarter net sales to be...
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ExxonMobil nears deal to buy Pioneer Natural Resources

US oil giant ExxonMobil is just a short distance away from closing a deal to take over Pioneer Natural Resources in a deal worth around USD 60 billion, according to the WSJ.

The vertically integrated oil giant ExxonMobil is expected to close a deal to buy Pioneer Natural Resources in the coming days.

The Wall Street Journal...
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Investors and analysts say sandal company Birkenstock needs to sell more clogs and boots and boost sales from its own website and boutiques before listing on the New York Stock Exchange next week to attract new customers amid a cost-of-living crisis. Birkenstock is the latest major stock market entry to draw investor attention to the initial public offering (IPO) market, which...
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USA

New claims for unemployment benefits (30 September):
current value: 207k
market expectation: 210k
previous value: 204k / revision: 205k.

Continuing claims for unemployment benefits (Sept 23):
current value: 1664k
market expectation: 1671k
previous value: 1670k / revision: 1665k.

Trade Balance (August):
current value: -58.3 billion
market expectation: -59.8 billion
previous value: -65.0...
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