Meanwhile, Citigroup Inc., which also reported earnings on April 14, announced Q1 earnings of $1.86 per share, beating the broader market’s expectation of $1.66. Citigroup’s revenues also surprised to the upside, coming in at $21.44 billion for Q1 to analyst estimates of $17.91 billion. This represents a 12% improvement over last year’s figures. Both stocks…
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Not only has Coinbase facilitated major purchases from Tesla, but its agency OTC desk also acted as the primary execution partner for a multi-billion bitcoin investment throughout last year for business intelligence service, MicroStrategy. Instead of executing client trades on an exchange, the OTC agency unit earns its commission by completing client deals directly between…
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What to watch Dixons Carphone: While 2020 has been an unusual one for many companies in terms of share price falls, Dixons Carphone has experience of this kind of sell-off. The company lost more than 50% of its value when the March sell-off hit, and remains a long way from its 2020 high. It also…
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What to watch Chewy: Online pet food and product retailer Chewy’s share price is up by more than 150% in 2020, as consumers stuck at home have turned to online solutions. Pet sales and adoptions have also surged this year during US lockdown restrictions. The firm will deliver its third-quarter earnings on Tuesday, where investors…
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What to watch Best Buy: Electronics retailer Best Buy has gained 39% this year, and more than 64% over the past 12 months, as mass working from home has led to a surge in demand for laptops, monitors and other consumer electronics. The firm delivers its latest quarterly earnings update on Tuesday, just days ahead…
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UK stocks cool on Brexit trade fear and China tensions Both major UK stock indices fell on Wednesday on the back of rising China tensions and Brexit trade gloom, with the FTSE 100 down 1%. Both indices dipped on the news that the UK Government was close to ‘giving up hope’ of a Brexit trade…
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UK stocks flat as stronger pound balances out sentiment boost from EU aid deal The FTSE 100 was flat on Tuesday, after EU leaders agreed a 1.8 trillion euro aid and budget deal to help support member states, following days of negotiating. A jump in the value of the pound versus the US dollar tempered…
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What to watch Producer price index: PPI data for June will be released on Friday in the US by the Bureau of Labor Statistics. The data measures the average change over time in the prices received by US producers for the products and services they provide. Month-over-month and year-over-year data will be released, with economists…
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OECD says UK will be hardest hit major economy Following a sharp sell-off yesterday, London-listed stock indices continued falling on Wednesday after the OECD warned that the UK is likely to be the major economy hardest hit by the pandemic. The OECD anticipates the UK economy will sink by 11.5% in 2020, worse than contractions…
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Overall, US markets enjoyed a significant rally on Wednesday, with the S&P 500 gaining 2.7%. Notably, the Nasdaq Composite is now less than one percentage point away from being back to where it started 2020. The Nasdaq was led higher by 8% plus gains from Micron, Marriott, Alphabet (Google’s parent) and Align Technology. S&P 500:…
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