WeWork jumps 12%; Intel falls 11%, Facebook 6%, rally in Trump shares

WeWork jumps 12%; Intel falls 11%, Facebook 6%, rally in Trump shares
WeWork jumps 12%; Intel falls 11%, Facebook 6%, rally in Trump shares

Ongoing reporting from the world’s leading markets: important updates, prominent stocks, bonds and analyst updates

19:15 – Closing in Europe: The German DAX rose 0.5%, the British Potsy strengthened 0.2% and the French CAC added 0.7%.

18:40 – Technology giants weigh heavily on NASDAQ: While Intel falls 11% after reports, so does Facebook, which is cut by 6%, following ricochets from Apple’s privacy update. Apple announced in June 2020 new privacy protections that have trickled down to Facebook users. Half a year later That activated them, Apple’s revenue from iPhone advertising more than tripled itself, And Facebook revenue was hurt. Facebook’s third quarter reports – next Monday after closing. More in techno ‘- Google is cut by 3.5% today, Amazon is weakened by 2.7%.

18:30 – US Federal Reserve Chairman Jerome Powell in a speech: “Rising inflation is likely to last longer than we expected, into next year.” At the same time, Powell added that despite rising inflation, “it is too early to raise interest rates.” After the Dow Jones Industrial Average declined slightly, the decline in the Nasdaq strengthened, the S&P 500 withdrew from the peak.

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Jerome Powell Chairman of the Federal Reserve

(Photo: AFP)

18:20 – A former Trump spokesman: “Hopefully his stock will continue to soar, so he doesn’t go back into politics.” Anthony Scaramucci, founder of the SkyBridge hedge fund, who served as White House spokesman for ten days in early Trump’s tenure until he was fired, has since become a former rival of the former president.

In an interview with CNBC, he said, “I hope his spank will jump 10 times, so he doesn’t run for president again.” He went on to attack Trump, saying “he took part in the uprising on Capitol Hill, and to me he is a domestic terrorist.”

17:50 – A second ETF of Bitcoin (ETFs) began trading today on Wall Street. Valkyrie Bitcoin Strategy exchange-traded fund (NYSE: BTF) is down 3.7% in the premiere due to the daily decline in the price of Bitcoin. The first fund to start trading on Wall Street on Monday, ProShares (symbol BITO) is down 2.2%.

16:50 – Trading in the Trump media group stock that merged with SPAC (NYSE: DWAC) has been halted again, similar to yesterday, following an unusual trading cycle. So far, the stock has jumped more than 1,100% in two days.

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Donald Trump

(Reuters)

16:30 – Opening on Wall Street: Nasdaq down 0.2%, Dow Jones up 0.2%, S&P 500 down 0.1% and retreat from high.

WeWork jumps 25% in opening, last night premiered jumping 13.5%. Intel falls 11% after the reports. The stock of Trump (symbol DWAC) jumps 190% after flying 356% last night for the first time. The company’s value jumps to $ 4.7 billion.

Snap falls 20% after disappointing third-quarter results.

14:10 – Shares of DWAC, the company founded by former US President Donald Trump In order to “fight on social networks”, Which jumped 356% last night at its Wall Street premiere after merging with Spock, soared another 60% in early trading. In contrast, at least as of this hour, in the Wework share that jumped 13% in the premiere yesterday After merging with Spock – There are no dramas, and it trades steadily in the pre-season.

Shares – the parent company of the Snapshot photo app – fell 19% in early trading on Wall Street, following third-quarter reports released last night; Earnings per share were 17 cents – above analysts’ forecasts for earnings of 8 cents; Revenue was disappointing – totaling $ 1.07 billion compared to the expected $ 1.10 billion. The number of daily active users amounted to 306 million, less than the forecast of 301.8 million. The average earnings per subscriber was $ 3.49 – below the $ 3.67 earnings per share forecast.

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Snapshot

(Credit: Twitter screenshot)

13:05 – Markit’s Flash Purchasing Managers’ Index for the Eurozone – an indication of the strength of the economy – fell to a low of 54.3 points in October, from 56.2 in September. Analysts had expected a more moderate decline, to 55.2 points; However, the figure is still above the 50-point threshold, indicating expansion.

12:55 – Shares of Intel, the largest employer in Israeli high-tech, fell 10% in early trading on Wall Street, after falling 9% in late trading yesterday – after the chip giant missed last night’s analysts’ forecast for the third quarter.

Intel’s revenue for the quarter was $ 18.1 billion – less than the $ 18.24 billion revenue forecast. The company, however, topped earnings forecasts – $ 1.71 per share compared to expectations of $ 1.11.

Sales in the personal computing division (including PC chips) fell by 2% compared to the same period last year to $ 9.7 billion – Intel explained this, among other things, by the global shortage of computer parts. The data center division generated revenue of $ 6.5 billion, an increase of 10% over the same period last year, but below analysts’ forecasts for revenue of $ 6.66 billion.

Intel announced that it expects revenue of $ 18.3 billion in the fourth quarter, slightly above analysts’ forecasts for revenue of $ 18.24 billion.

Intel CEO Pat Glasinger said in an interview with CNBC that demand for PCs is still strong, and that he does not expect the shortage of semiconductors to end before 2023. “We are at a record low right now, and the situation will gradually improve next year,” he said. We will reach a balance between demand and supply before 2023. “

Last week, Intel suffered two blows – Apple has announced new Macs that will be based on self-developed ARM chips, and Alibaba, the Chinese that has announced that it will start equipping its cloud servers with chips it has developed itself.

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CEO Intel Pat Glasinger

(Getty)

10:40 – Trading on European stock exchanges began with price increases. Potsy in London is up 0.1%, Kak in Paris is up 0.8%, and Dax in Frankfurt is up 0.3%.

In the UK, the GFk consumer confidence index released today has been low since February, amid rising energy and corona prices.

The G7 trade ministers will meet today to discuss the global crisis in supply chains, which is hurting economic recovery and causing inflation to rise.

08:15 – On the Asian stock markets, a positive trend was recorded this morning. The Hand Seng index is up 0.5%, Tokyo is up 0.3%, Kospi in Korea is up 0.2% and the Shanghai Stock Exchange is up similarly.

The Chinese real estate giant Evergrand shares jumped 4% on the Hong Kong Stock Exchange, after transferring, in the 90th minute, the payment of interest to dollar bondholders – andManaged to avoid insolvency. The original payment date, $ 83.5 million, was in September, and the company was allowed to defer it by 30 days.

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Avergrand residential project in Wuhan

(Photo: Getty )

 
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