2023-06-26 06:18:00
(AOF) – US equity markets closed the last session of the week. The remarks made the day before before the Senate by Fed Chairman Jerome Powell did not reassure following he pleaded for further rate hikes. while promising to act with caution. In terms of statistics, the S&P Globals composite Purchasing Managers’ Index (PMI) fell to 53 in June following 54.3 in May. The Dow Jones fell 0.65% to 33,727.43 points while the Nasdaq fell 1.01% to 13,492.52 points.
Smith & Wesson escaped the decline in the US market nicely, jumping 20.20% to 13.51 dollars. The American arms manufacturer has unveiled a less significant decline than expected in its profits. While it faces high inventories at its distributors, which is weighing on its business, its CEO, Mark Smith, pointed out that these headwinds eased in the fourth quarter, which ended at the end of April. In other good news, the quarterly dividend has been increased by 20% to 12 cents per share.
Loading…
Macroeconomic figures
In the United States, the S&P Global composite Purchasing Managers’ Index (PMI) came out at 53 in June following 54.3 in May. The services PMI came out at 54.1 once morest 54 expected following 54.9 in May. The manufacturing PMI is 46.3 in May once morest a consensus of 48.5 following 48.4 in May.
The values to follow
3M
3M is expected to rise sharply in the pre-market on Wall Street, following the group announced that it had reached an agreement for 10.3 billion dollars (9.49 billion euros) with a set of public players. American water managers who accused the group of pollution linked to “eternal pollutants”, or PFAS. According to 3M, the agreement provides funding for public water suppliers (PWS) in the country that have detected PFAS in drinking water, as well as eligible PWS that might detect PFAS at any level at the future.
Loading…
Amgen
Amgen is expected to be slightly lower pre-market on Wall Street following six US states (California, New York, Illinois, Minnesota, Washington and Wisconsin) joined the lawsuit filed by the FTC (Federal Trade Commission) to prevent the acquisition by Amgen of Horizon Therapeutics for an amount of 27.8 billion dollars, for abuse of dominant position. The takeover was announced in mid-December 2022 and the FTC officially declared its opposition to the transaction in mid-May 2023.
Carmax
US used-car retailer Carmax is expected to rise sharply in the pre-market on Wall Street following the publication of its first-quarter results, which beat market expectations. CarMax reported adjusted earnings of $1.16 per share, while analysts on average had expected 79 cents per share, according to Refinitiv. Net sales amounted to 7.7 billion dollars (-17.4%), while analysts expected 7.53 billion dollars.
Loading…
Meta
Malaysia on Friday threatened to take legal action once morest Meta, accusing the American giant of not doing enough to remove content deemed undesirable on race or religion from its Facebook platform. of communications regulation assured, “in view of the insufficient cooperation of Meta”, to have “no other choice but to take definitive measures or to initiate legal action”.
Smith & Wesson
US arms maker Smith & Wesson is expected to rise on Wall Street thanks to a smaller-than-expected decline in profits. In the fourth quarter, which ended at the end of April, the group generated net profit of 12.8 million dollars, or 28 cents per share, once morest respectively 36.1 million dollars and 79 cents per share, a year earlier. Adjusted earnings per share came in at 32 cents, 3 cents better than expected. Revenue fell 20.1% to $144.8 million as the market was targeting $138.4 million.
1687761004
#AOF #analysis #closes #Wall #Street #Red #week
