Wall Street floor, Ford wants to sell to the Chinese
Nasdaq futures were down 0.5% after a random close in New York. Dow Jones rose by 0.31% and 33,733 points, S&P 500 points 4,015 (-0.10%), Nasdaq back 0.27% at 11,334 points. Today the accounts of Tesla (+0.10%), IBM (-0.26%) and Boeing (+0.94%) are on the calendar. In no particular order, the stocks of chip manufacturers, including Nvidia, Intel and Broadcom, which increased respectively by +0.38%, -1.16% and +0.58%. A look at US fourth-quarter GDP, due tomorrow, to understand the impact of Federal Reserve rate hikes on the economy. Analysts seem to believe that the Fed is slowing rate hikes due to recent data pointing to the economy and the stars and stripes in decline.
LOCAL WALL STARS
BATTLE OF THE TOP CHAMPIONSHIPS
Closing at $68.6 (-1.2%) Barclays analyst Blayne Curtis upgraded the stock from Equal Weight to Overweight. For Curtis, a Sunnyvale chip maker thanks to new processors it can destroy more market shares from its historical rival Intel
It closes at $91.38 (-0.36%) The Justice Department is about to sue Google for its dominant position in the digital advertising market. Bloomberg reports, citing some sources, according to which the legal action may begin this week, perhaps already in the next few hours.
It closed at $12.74 (0.47%) It is said to be in talks to sell a manufacturing plant in Germany to Chinese electric car maker BYD. This is the Saarlouis plant, which is expected to close in 2025. Ford is also evaluating the interest of about 15 potential investors. The union has announced that the American group intends to cut 3,200 jobs in Europe, especially in Germany, and move the development of some products to the United States (2,500 people) and the administration sector.
It closed at $80.7 (+1.17%). Beats earnings per share estimates in the fourth quarter.
It closes at $39.84 (-1.8%). It ended the quarter with earnings per share of $0.72, slightly better than expected.
JOHNSON & JOHNSON
Firm near $168. It reported mixed quarterly results. Earnings per share are better than expected but income is below expectations.
Up 1.73% to $449 after quarterly data. Revenue reached $18.99 billion better than expected
Basically stable (-0.22%). In closed markets data released for the September-December quarter ended with a 2% increase in revenue to $52.75 billion, below analysts’ expectations. Earnings per share came in at $2.32, above market expectations of $2.30. Net income fell by 12% to 16.4 billion. The collapse of the personal computer market also affected software businesses. The cloud-related business, however, continued its course, even as growth slowed, and profits exceeded estimates. In the aftermarket, the stock had gained up to 5%, at the time of the presentation, it changed course. To analysts, CEO Satya Nadella said he was cautious about business performance:
Closes at $99.47 (+3.36%) The maker of weapons, missiles and space systems presented quarterly data, forecast to 2023. and a plan to reorganize activities that will lead to cost reduction.
Closes at $115 (.6.25%). It will cut 2,500 jobs after reporting a drop in profits. The company is facing declining demand in a segment that sells products such as notebook computers, air purifiers and ventilators.
China’s stock markets remain closed for the long Lunar New Year holiday season Tokyo’s Nikkei rises (+0.4%).