Daily Updates to watch out for!

What's Hot 🔥
#21

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Checkout.com raises $1B at $40B valuations A full-stack payments company that acts as a gateway, an acquirer, risk engine and a payment processor, in short letting you process payments directly on your site or on your app. Its customers are global enterprise merchants with a large volume of transactions such as Netflix, Pizza Hut and Fatfetch. The company has processed billions of dollars in payments in 2021 and has been profitable for years. The injection of funds will add to its long-term growth and ventures into Crypto and Metaverse.

Uber got some competition in Brazil, the government’s taxi app - Taxi.Rio. Apple’s alternative payment service in South Korea. Apple submits plans to allow alternative payment systems in S.Korea - regulator | Reuters

Some Notable Movers were:

Wipro declined by 8.5% as 3Q revenue was above consensus while EPS was below. Management guided 4Q revenue from IT Service.

Paypal was down by 2% as it was downgraded to hold from buy at Jefferies, and the target was $200.

Infosys was up by 3% as 4Q revenue and EPS were above consensus. Management provided FY22 revenue growth guidance.

#22

Some Notable Movers were:

Taiwan Semiconductor was up by 5.3% as 4Q revenue and EPS were both above consensus. 1Q revenue guidance was above consensus. Management provided FY22 and L-T outlook.

Proterra was up by 2.1% as it announced a multi-year partnership with Vicinity Motor to supply its battery systems for electric buses and commercial vehicles; Proterra battery systems will power at least 600 commercial EVs by 2024.

Mimecast was up by 1.5% as Proofpoint offered Mimecast a $ 92.50 per share offer, according to sources. But Mimecast refused to trade over antitrust concerns.

Virgin Galactic was down by 19% as the business said it expects to sell convertible senior notes to raise up to $500 million. Preliminary fourth-quarter free cash flow was reported.

Elastic was down by 12% as Shay Banon, the company’s creator will move from CEO to CTO, with chief product officer Kulkani taking over as CEO; the company also expects to surpass its Q3 projection; analysts are largely enthusiastic about the change, but admit the changeover poses challenges.

Snapchat was down by a whopping 11% as it was downgraded by Cowen from outperform to market perform, citing near-term worries about lingering iOS changes affecting Snap’s measurement, targeting, and attribution for direct response ad units; it noted challenging 1H-22 comparisons, and elevated valuation.

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#23

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Credit: The Verge

Walmart is jumping into cryptocurrency as the recent filings with US Patent and Trademark Office reveal that it may prepare its own cryptocurrency and collection of NFT’s. Walmart investigated a trial programme in 2021 in which customers could buy Bitcoin, but the company’s most recent submissions include the production of virtual items such as toys, recreational goods, and personal-care products. Of course, all of these applications reveal future ambitions, but the trademarks will not be registered until Walmart actually uses them. When that day comes, Walmart’s entry into the cryptocurrency industry might usher in a paradigm change.

Crypto is booming as most of the recent updates do revolve around crypto.

Coinbase partners with MasterCard for NFT marketplace purchases. Users of Coinbase’s new NFT marketplace will be able to purchase using their credit cards, according to Mastercard. Raj Dhamodharan, Mastercard’s executive vice president of digital asset and blockchain products, stated in a blog post on Tuesday that NFTs would be deemed “digital commodities” and could thus be purchased with a credit card. Mastercard’s cooperation with Coinbase, which aims to allow non-crypto users to acquire NFTs without utilising a wallet and purchasing tokens, will undoubtedly help facilitate increased traffic to the NFT marketplace. However, with over 1 million people on the waiting list, Coinbase’s NFT marketplace is already off to a rousing start. NFTs have been unexpectedly steady in the face of crypto’s volatility, and I expect them to grow in popularity in 2022.

Some Notable Movers were:

Activision by 20% due to the Microsoft Deal.

Blink Charging was up by 5% as it announced it will supply electric vehicle chargers to GM car dealerships across North America.

VTEX was by up 2% as at Goldman Sachs, the stock was upgraded to outperform from neutral due to attractive valuation, e-commerce leadership, and hard-currency exposure; at Piper Sandler, the stock was started at overweight due to good secular-growth potential and indications of expanding share gains.

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#24

Late today, but here we go!

It’s raining Crypto everywhere, Google moves into Crypto too, yeah it’s Google’s world according to Inc, and your business lives in it. How is Google making the transition? Google has hired former PayPal executive Arnold Goldberg as part of a bigger plan to provide a broader range of financial services, including cryptocurrency. Google has worked with firms such as Coinbase and BitPay to hold crypto assets on digital cards and recruit Goldberg to lead its payment division (with users paying in traditional currencies). The startup intends to focus on a “complete digital wallet,” which will contain digital tickets, airline passes, and vaccination passports. However, Google is still refusing to take cryptocurrency for payments.

Instagram Meta’s photo-sharing app is testing paid subscriptions. Abling US users to subscribe to a few creators to have spent only content. The fees will be around 99cents to $99.99 per month. Mark Zuckerberg said he is “excited to keep building tools for creators to make a living doing creative work and to put these tools in more creators’ hands soon.”

Former SpaceX Engineers build a Tesla for Freight Trains. Parallel Systems, a business created by three former SpaceX engineers, raised a $49.55 million Series A round. The firm intends to build self-driving, electric freight trains in response to the mounting issues posed by carbon emissions in freight, supply chain bottlenecks in trucking, and the limitations of traditional railway freight. Parallel Systems has the potential to dominate the market for greener freight. Parallel must secure cooperation with a legacy train firm to test its product for the time being.

Some Notable Movers were:

SoFi Technologies was up by around 14% as The Federal Reserve and the Office of the Comptroller of the Currency (OCC) accepted its application to become a bank holding company through the acquisition of Golden Pacific Bancorp; the move will allow it to lend at more competitive rates and offer upgraded financial products.

Morgan Stanley The bank’s stock rose 1.8 percent after the company reported higher-than-expected fourth-quarter profits due to robust equities trading income. Unlike its competitors, Morgan Stanley did not reveal skyrocketing pay expenditures for Wall Street staff during the quarter.

Procter & Gamble The consumer products company’s stock surged 3.4 percent after posting results that exceeded Wall Street expectations. Earnings per share were $1.66, a penny better than the Refinitiv average forecast. P&G also exceeded sales projections and boosted its outlook for 2022.

Sony - Microsoft announced a $68.7 billion deal to purchase video game producer Activision Blizzard on Tuesday, sending Sony’s stock down 5%. Sony’s PlayStation division would face more competition due to the deal.

Opendoor Technologies was down by 6% as BofA Securities initiated an underperform rating on buying, arguing that the dependence on centralised models and algorithms for pricing and selling properties makes it inherently hazardous and largely untested business model; apprehensive on inventory accumulation amid a declining housing market.

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#25

Meta inches closer to you - it’s planning to track your emotions Meta has patented methods that collect biometric data from consumers. Facial expressions and other biological processes, in essence, might be recorded and catalogued to improve the effectiveness of in-world advertising and give consumers a more immersive experience. Even though this technology has yet to be built, substantial privacy issues have already been highlighted. This data collecting form might dramatically affect user behaviour everywhere online, including outside of Meta’s Metaverse realm.

Musk’s contentious brain implant firm, Neuralink, has hired a clinical trial detector, signalling that the company is moving closer to its objective of implanting chips in human brains. According to Musk, Neuralink already allows primates to play video games with their thoughts alone, but the implant is eventually designed to assist heal neurological problems. Musk recently informed the Wall Street Journal that Neuralink aimed to implant its gadget into human brains by 2022, but he has a track of making excessively optimistic statements that do not come true. It’s unclear where the firm is in the process, but no human studies have been registered with clinicaltrials.gov (the official FDA site).

Netflix reported the lowest year of subscriber growth since 2015

Here are some Notable movers:

Corsair Gaming was up by 3% as Preliminary F21 revenue was somewhat more than expected. The midpoint of FY22 revenue projection was close to consensus. Management set a net revenue target for FY26.

Peloton was down by a considerable margin as CNBC reported, the business has ceased manufacture of its connected fitness goods due to a “substantial decline” in demand; a private corporate presentation implies that delivery goals established in October were way too high; PTON has already halted production of Bike+ and Tread+.

Taskus was down by 16% as Spruce Point Capital offered a strong sell recommendation; said business promises were exaggerated by a CEO prone to hyperbole; highlighted firm visibly halted reporting yearly contract value; and signs of increased margin pressure from Facebook.

Ford was down by 4% as Jefferies downgraded GM to hold from buy, citing valuation, with shares fully valued after earnings recovery, and “Global Redesign,” which has closed the majority of the gap with GM’s cost base; also said it is premature to rerate legacy OEMs for EV progress, as EV transition is essentially a zero-sum game at first.

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#26

Google plans for a new headset in 2024. With Meta and Apple already into the realms, enter Google, the headset should probably ship by 2024. The Verge reported that two people spoke to it on the condition of anonymity. The hardware is powered by a custom Google processor and the recent job listings indicate a unique OS is already being cooked. Let’s hope this brings more competitiveness to the landscape!

IBM sells Watson Health Assets to an investment firm Francisco Partners, the move comes amidst the company focus to streamline its operations and sharpen its focus on cloud computing service. Watson uses AI to analyse diagnostic tests and other health data. “IBM took a risk of becoming a disrupter in the complex health care industry but was only able to garner limited success,” UBS analyst David Vogt said in a note Friday. While exploring IBM Watson, I personally came across the service was marvelled by it but couldn’t explore it. IBM said that the deal wouldn’t weaken its commitments to other artificial-intelligence technology and to healthcare clients that use its IT services.

Netflix has fallen almost 28% or $146 since that earnings release. Are the good old days gone?. S&P 500 fell briefly into correction territory, down 10% from a recent high. Dow has dropped 400 points

#27

Ola Electric is valued at $5B in a new round of funding.
Ola Electric, an Indian manufacturer of electric two-wheelers, announced a fresh $200 million funding round on Monday. According to a statement from the manufacturer, the current round values the firm at $5 billion, up from $3 billion in September last year. Despite difficulties in delivering its first electric scooter to customers, the business is trying to expand into other categories, including autos. Two-wheelers account for more than three-fourths of all vehicles sold in India, and researchers predict that by the end of the decade, 37 percent will be powered by electricity.

Ford is cutting off customer orders for its low-cot Maverick pickup, saying it has hit the limit on what it can build

Peloton was up by 10% - According to a WSJ report, activist investor Blackwells Capital aims to persuade Peloton to replace its CEO and pursue a sale. Blackwells is claimed to control multiple positions, though less than 5%, and believes that tech or fitness businesses will be interested in acquiring Peloton.

Shopify was up by 6% as the company said it would implement network adjustments to assist merchants in competing with big-box retailers, such as prioritising two-day delivery; a company spokesman also stated that it has enough SFN capacity for merchant fulfilment needs.

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#28

Amazon will launch its first physical fashion store! Amazon Style, the company’s first physical fashion store, will launch in Los Angeles later this year. Amazon Style will only keep “display products,” but shoppers will be able to scan a QR code for sizes, colours, and recommendations, with genuine merchandise held in the backroom. Amazon is currently the largest retailer in the United States. As a consumer behaviour, many folks like rummaging through a store’s inventory. However, this form of shopping will be impossible with the new QR approach.

Nvidia may abandon its $40B Arm acquisition as it struggles to get regulatory approval. The final decision is not yet made. Japan’s tech giant was going to sell Arm to Nvidia - it was going to be the largest deal in the chip industry.

US Chip shortage will continue as the US Department of Commerce conducted a survey that reported that the supply problems would continue, which will be carried forward in the second half of the year. Demand for semiconductors has increased by 17% in the past two years. The US Congress is working to introduce legislation to bolster financing for semiconductor manufacture in response, although the automobile and medical industries have suffered significant losses. Even more worrying is the vulnerability of critical sectors due to scarcity.

Youtube’s Head of Gaming resigned to Join Polygon Studious as CEO Ryan Watt joined Polygon Studios, the NFT and gaming arm of Polygon - The layer-two Ethereum scaling network. Polygon aims to invest $100 million in its projects, even though the studio only opened in July. Polygon Studio’s primary goals are to promote decentralised gaming, attract blockchain enthusiasts to its NFT token ecosystem, and establish Polygon as a reliable blockchain for the Web3 transition.

Ex-Goldman Sachs CEO says crypto is happening!

Some Notable Movers:

Xerox declined by 5% as Q4 earnings beat expectations, but revenues were missed. However, business fundamentals remained robust, and the company earned considerable backlog growth, despite substantial high-margin product shortages, shipping delays, and Omicron consequences. Revenue projection for FY22 was improved, while FCF guidance was weak.

Nvidia declined by 4.5% as the Arm acquisition reported above was under scrutiny.

Meta, Amazon, Microsoft were down by around 3% as the market sentiment towards tech stocks made them go down.

IBM was up by 6% as Analysts acknowledged that the report was noisy due to the Kyndryl spin, but they were upbeat on revenue acceleration and assessed the 2022 projection is inline.

That’s all!

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#29

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European Court finally overturns intel $1.2B antitrust fine! The fine was issued 12 years ago in 2009 after an investigation concluded that the company had abused its position in the chip industry. In its judgment, the court said that the “analysis carried out by the Commission is incomplete and, in any event, does not make it possible to establish to the requisite legal standard that the rebates at issue were capable of having, or were likely to have anticompetitive effects.” It, therefore, decided to annul the fine.

The Fed Rate Hike is supposed to happen in March, according to the recent announcement by Jerome Powell. The hikes are announced, citing inflation and a strong job market. Finally, the hottest inflation will cool, but that is terrible news for the stock market, though a piece of good news for the dollar.

Walmart-Backed FinTech startup is acquiring two firms and a New Name

Here are some notable movers:

Corning was up by 4.2% as core sales and earnings per share were higher than expected in the fourth quarter. Core sales and EPS forecasts for the first quarter were both higher than expected. The revenue forecast for FY22 was higher than expected.

Microsoft was up by 3% as revenue and earnings per share were higher than expected in the second quarter, and Azure/cloud growth is expected. Cloud and More Personal Computing guidance for the third quarter were above consensus, while Productivity and Business Processes advice was in line.

Automatic Data Processing was down by 9% as 2Q sales and EPS figures were above consensus, and FY22 projection on EPS growth and revenue growth was raised.

F5 was down by 8.5% as Revenue, EPS, and operating income were all higher than expected in the first quarter. Revenue projection for the second quarter was lower than expected. Revenue projection for FY22 has been reduced by management.

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#30

Apple released financial figures for the first quarter of fiscal 2022, blowing past market expectations and showing a record-breaking 11 percent increase in sales. Aside from the firm’s iPad revenue, things were looking upon the hardware front, with iPhone sales reaching $71.63 billion, a 9 percent year-over-year rise. These findings are even more impressive when considering current global supply chain issues and chip shortages. Nonetheless, supply chain bottlenecks have disproportionately impacted smaller enterprises with less negotiating power with suppliers. Meanwhile, Apple has capitalised on its recent success in China, holding the number one slot at the top of its market share ranking.

Google invests in Bharti Airtel to boost India push! Love from an Airtel sim user :heart:

Here are some Notable Movers:

ServiceNow was up by 9% as Q4 profits, revenue, and OM were all higher than expected; billings were higher than expected, and cRPO growth was outstanding; management emphasised the rising amount of $1M+ transactions, and the 2022 forecast was generally well-received.

Netflix was up by Bill Ackman said that his Pershing Square hedge fund has taken a $1.1 billion investment in Netflix following its recent selloff; he is bullish on the scope of the streaming industry and its content pipeline.

Tesla was down by 11.6% as Automotive GM beat estimates for Q4 EPS, revenue, EBITDA, and FCF; said it expects 50 percent average annual growth in vehicle deliveries in the coming years, though supply chain issues that have forced factories to run below capacity are expected to continue through 2022; The product plan, which lacked the $25K vehicle and cost information around Cybertruck, also disappointed Wall Street analysts.

Intel was down by 7% as Q4 results were better on enterprise and desktop strength; however, cloud declined again, raising concerns; Q1 revenue guidance was better but EPS was 7% lower, with takeaways focusing on GM headwinds and higher operating expenses; some firms also reiterated concerns about an increasingly difficult competitive environment and strategic risks.

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#31

Citrix said on Monday that it would be taken private in a $16.5 billion deal with Elliott Management and Vista Equity for $104 per share. The transaction is one of the largest tech buyouts in history, and it is the first buyout valued at more than $10 billion in 2022. Citrix is preparing to combine with TIBCO Software, another Vista portfolio company, to bet on the future of hybrid work and the continuous need for business management software. In a statement, Citrix’s interim CEO, Bob Calderoni, stated his optimism that “…with Tibco, [Citrix] will be able to operate with greater scale and provide a larger customer base with a broader range of solutions…”.

Sony is buying Halo videogame creator Bungie in a deal valued at nearly $3.6B to combat the Microsoft - Activision Deal. At the same time, Bungie denied that Bungie would not become Playstation exclusives though there’s a growing suspicion around the same. Hermen Hulst, head of PlayStation Studios, reiterated that sentiment in a separate blog post. “Bungie’s technical expertise, coupled with their track record of building highly engaged communities, make them a natural fit for a collaboration with PlayStation Studios,”

AT&T said it would roughly halve its dividend payout after its spinoff of WarnerMedia as it looks to boost investment in 5G wireless and fibre-optic services.

Shopify CEO joins Coinbase Board of Directors. Lütke will help Coinbase with its expansion plans as the crypto exchange targets newer products that appeal to crypto traders and investors internationally, Coinbase said in a note. “We hope to unlock crypto’s potential to increase economic freedom in the same way Shopify democratized online commerce,” Coinbase CEO Brian Armstrong said in a press statement.

Cryptocurrency Exchange FTX Hits $32B valuation The FTX’s valuation increased to $32 billion in a fresh investment round disclosed on Monday. FTX, with its new $400 million Series C funding round, is one of the world’s major exchanges, competing with Coinbase and Binance. The Bahamas-based firm provides derivatives and spot trading but is not available to U.S. traders (although FTX U.S., its sister exchange, is). When asked if the business may consider an IPO, Sam Bankman-Fried, FTX’s CEO and co-founder, have been mainly dismissive, adding that “we [FTX] don’t feel like we have any particular need to do that.” For the time being, the company’s primary focus is on gaining licences around the Western World and continuing to create new goods.

Morgan Stanley appeals to crypto investors to be calm as it calls a 50% drop of Bitcoin normal.

Here are some Notable Movers:

Spotify was up by 14% as Citi upgraded to buy as part of its U.S. Internet note. The firm issued a blog post on platform rules and its COVID-19 strategy.

Netflix was up by 11% as it was upgraded to buy at Citi, part of its U.S. Internet note.

L3Harris Technology was down by 4.3% as earnings were up in the fourth quarter, but sales fell short; Space/Airborne Systems were a poor place due to the modernization shift in airborne and classified programme timing in Intel and Cyber; With the impact of the R&D tax credit reform, FY22 projection was lower than expected by the Street.

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#32

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SpaceX rolls out a premium service - Starlink Satellite internet at $500 per month. Here’s what you should know: The new SpaceX product costs five times as much as ordinary service: a $500 refundable deposit, a $2,500 price for the antenna and router, and $500 each month in service.
The first premium deliveries, according to the Starlink website, will commence in the second quarter.
In contrast to the basic offering, which only guarantees service at a certain service address, SpaceX claims that Starlink Premium can connect from everywhere.

PayPal’s stock plummeted on its worst day ever after the business reported it had cancelled 4.5 million accounts, cutting its projection for new clients. The firm is revising its whole marketing approach and no longer expects to reach its target of 750 million active users by 2025. PayPal’s unexpected shift in approach, along with a pretty poor earnings report, was enough to send investors fleeing. Although PayPal has cautioned analysts that an overall fall in consumer spending has prompted it to modify its estimates, competition from traditional payment firms is harming the company. Despite Omicron’s impact, rising inflation, and a lack of stimulus, American Express, Visa, and Mastercard all recently reported solid results and projections. Aside from the possibility of a regulatory crackdown, there are other factors to consider.

Google may have a stock split, there’s a lot of speculation surrounding the same, on top of it its parent, Alphabet inches closer to $2T Market Value. Google’s decision to split its $3,000 stock is stoking bets on inclusion into the Dow Jones Industrial Average, but a similar move by Amazon could make things complicated for index managers.

Here were some notable movers:

Google was up by 7.5% as its 4Q revenue and EPS were above consensus it also announced a 20:1 Stock split.

AMD was up by 5% as its 4Q revenue, EBITDA, and EPS were above consensus. 1Q/FY revenue guidance was above consensus.

Paypal was down by 25% as Earnings and forecast fell short, with multiple several sell-side downgrades.

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#33

Amazon is starting its TeleHealth Service Nationwide. Amazon said on Tuesday that Amazon Care, the company’s telemedicine service, will be available nationally. Amazon Care, created to solve gaps in the healthcare system, mixes on-demand and in-person care by providing virtual assistance. Amazon will launch in-person services in more than 20 additional locations this year, including Miami, San Francisco, and New York City.

Peloton CEO steps down, and the company now cuts 2800 jobs. Shareholders were certain that drastic adjustments were required for the firm, which had been riding high shortly due to a boom in pandemic-fueled demand. Before the COVID-related shutdowns, the brand had built up a cult-like following, but the widespread closure of gyms proved a tremendous accelerator.

The Chip firm Arm’s Sale by Softbank collapses due to competition fears. SoftBank and Nvidia agreed to end their sale agreement “because of significant regulatory challenges preventing the consummation of the transaction, despite good faith efforts by the parties,” the companies said in a joint statement to investors.

The US government seizes $3.6 billion in Bitcoin linked to a 2016 hack of a cryptocurrency exchange Bitfinex

Here are some Notable movers:

Teradata was up by 26% as revenue was lower than expected in the fourth quarter, while earnings per share were higher. The company’s projection for first-quarter earnings per share was higher than expected. FY sales projection was in line with expectations, and management upped its FY EPS forecast. The administration plans to accelerate a $250 million share repurchase programme in the first quarter.

Meta declined by 2% at the Annual Meeting in FY22; Peter Thiel will step down from the board. In addition, the business is said to be stopping the development of its Novi digital wallet project.

Cerence was up by 5% as at RBC, the stock was downgraded from sector perform to underperform. Multiple downgrades to equivalents of hold/neutral. After a 31.4 percent drop the day before, the stock has rebounded.

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#34

Microsoft to apply Open Market rules on new App Store To entice regulators, Microsoft has promised that its video game marketplace would adhere to open-market principles. These principles imply policy changes, such as allowing developers to access the game store on all platforms (including Apple products) without requiring them to utilise a proprietary payment method. You may recall that Microsoft announced its largest-ever acquisition of Activision in January for $75 billion, but the transaction has yet to be approved by antitrust regulators. Microsoft claims that its new app store would help both customers and creators by allowing games to be played on any device. Microsoft will become the world’s third-largest video game firm if the acquisition goes through.

Blackrock’s planning to offer Crypto trading BlackRock, the world’s most powerful asset management, intends to provide cryptocurrency trading to investor customers. BlackRock controls a massive $10 trillion in institutional assets, if you haven’t heard. Furthermore, because the business intends to allow clients to trade cryptocurrencies through Aladdin (BlackRock’s integrated investment management platform), this move might result in a significant financial flood into crypto. In addition to trading services, BlackRock will allow consumers to borrow cash by posting cryptocurrency as collateral. However, the timeline for launching all of these new services is unknown. The corporation has shown tacit support for cryptocurrency through acts such as trading CME bitcoin futures and introducing its blockchain ETF.

Here are some Notable Movers:

NCR Corp was up by 14% as its 4Q results were ok while exploring strategic alternatives, which led to the rise.

Paycom Software was up by 9% as the earnings were above consensus. The guidance for the 1st quarter was also above consensus.

Lyft was up by 7% as revenue, and adjusted EBITDA were higher than expected in the fourth quarter, but adjusted net income was lower. The number of active cyclists was lower than expected. Revenue and adjusted EBITDA forecasts for the first quarter were lower than expected.

New Relic was down by 28% as revenue in the third quarter was more than expected, while earnings per share were lower. Revenue projection for the fourth quarter was higher than expected, while earnings per share were lower. FY sales projection was more than expected, but EPS was lower.

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#35

AMD’s $35 billion acquisition of semiconductor maker Xilinx, originally announced in October 2020, is now official as the deal receives regulatory approval. The deal, the largest in AMD’s history, is slated to close next week and has cleared its final obstacle. While both firms manufacture semiconductors, Xilinx specialises in programable semiconductors, which distinguishes its product from AMD’s CPUs and GPUs. As a result of the acquisition of Xilinx, AMD is now able to extend its market and provide a diverse range of industrial applications. Furthermore, because AMD’s major opponent, Intel, bought Xilinx’s primary competitor, Altera, in 2015, this recent transaction from AMD helps the business to remain competitive.

US Inflation hits 40-year high The Consumer Price Index, issued by the U.S. Bureau of Labor Statistics on Thursday, increased by 7.5 percent year on year in January, the biggest increase since 1982. Economists predicted a 7.3 percent increase, but volatile food and energy costs skewed the total CPI significantly. Not unexpectedly, energy costs increased by a stunning 27% year over year in January. Meanwhile, food costs at home increased by 1.0 percent during the month, while food prices away from home increased by 0.7 percent. Without these factors, core CPI increased by 6.0 percent in January compared to the previous year. Finally, the research indicates that persistent inflation will be with us for the foreseeable future.

Some Notable movers were:

DataDog was up by 12% as revenue and earnings per share were higher than expected. Revenue projection for the first quarter was higher than expected, while earnings per share remained flat. FY22 sales projection was more than expected, but EPS was lower.

CyberArk Software was up by 9% as revenue and earnings per share were higher than expected in the fourth quarter. Revenue projection for the first quarter was in line with expectations, while earnings per share were lower. FY sales projection was more than expected, but EPS was lower.

2U Inc was down by 47% as revenue in the fourth quarter was in line with expectations, while adjusted EBITDA was marginally higher. Revenue and adjusted EBITDA for FY22 were lower than expected. Berenberg downgraded from buy to hold. William Blair has downgraded from outperform to market perform.

Vimeo was down by 18% as revenue in the fourth quarter was more than expected, while EPS and adj EBITDA were lower. Revenue and adjusted EBITDA forecasts for the first quarter and fiscal year were lower than expected.

Udemy was down by 14% as revenue and adjusted EBITDA for the fourth quarter were higher than expected. Revenue and adjusted EBITDA for the first quarter fell short of expectations. Revenue projection for FY22 was in line with expectations, although adjusted EBITDA was lower.

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#36

Intel nears $6B deal to buy Tower Semiconductor. As Intel seeks to extend its contract chip manufacturing strategy, the acquisition of Tower Semiconductor would allow Intel to grow its position in a market controlled by Taiwan Semiconductor (TSMC). Suppose you’ve been following tech news recently. In that case, you’ll know that this announcement comes at an intriguing moment since the worldwide semiconductor market shortage has impacted the manufacture of many products we take for granted.

It was reported that BlockFi would pay the most significant SEC fine, about $100M, to settle charges related to its high-interest accounts.

Buffett invests $1B in Bitcoin-Friendly Neobank, Dumps Visa, and Mastercard Warren Buffett’s Berkshire Hathaway announced in a securities filing late February 14th that it acquired $1 billion in Nubank stock, dumping a portion of its Visa and Mastercard holdings. While Nubank is Brazil’s largest fintech bank, Warren Buffet’s investment is shocking. Buffett is a very conservative investor, and he has previously mocked Bitcoin and cryptocurrencies. Has Buffett changed his mind? This appears to be the case. In July, Berkshire Hathaway had invested $500 million in Nubank, but this latest investment sends a strong signal. Buffett is receiving indirect exposure to the crypto business despite his past statements since Nubank is directly exposed to it. Buffett can profit from the rise of cryptocurrency without having to confess he was mistaken.

Some Notable Movers were:

Sabre Corp was up by 22% as Revenue was higher than expected in the fourth quarter, while EBITDA and EPS were lower.

MoneyGram International was up by 20% as Madison Dearborn Partners made a purchase bid for $11.00 per share in cash.

Yandex was up by 16% as Revenue, adjusted EBITDA, and adjusted net income was higher than expected in the fourth quarter. The revenue forecast for FY22 was higher than expected.

Allot declined by 16% as Revenue in the fourth quarter was higher than expected, although earnings per share were flat. The revenue forecast for the fiscal year was lower than expected. They have initiated a $40 million private fundraising with a 2025 convertible promissory note at a conversion price of $10.30 per share.

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#37

Google said that it is expanding its “privacy sandbox” to Android applications, limiting the amount of user data that marketers may collect. While it works with “the industry” to develop a new method, Google will continue to use third-party cookies, eventually eliminating them from the Google Chrome browser by 2023. Because companies like Meta rely on monitored customer data, this revelation from Google comes as a surprise to many. Apple recently mandated that app developers explicitly request permission from users, but data show that U.S. consumers opt-out of monitoring 96 percent of the time. Nonetheless, unlike Apple, Google relies on advertising income, and it’s unclear how the business would develop a substitute for third-party cookies.

Nvidia gives upbeat revenue forecast Nvidia Corp estimated current-quarter sales above analysts’ projections on Wednesday, citing robust demand for data centres. However, unchanged gross margins from the previous quarter, as well as concerns over Nvidia’s exposure to the cryptocurrency business, sent shares down 2.8 percent in after-hours trade. According to Refinitiv IBES statistics, Nvidia forecasts first-quarter sales of around $8.1 billion, compared to analysts’ projections of $7.29 billion. In the fourth quarter, data centre revenue increased by 71% to a record $3.26 billion. On a conference call with analysts, CEO Jensen Huang also stated that supply was a constraint but that this will improve in the future.

Some Notable Movers were:

Roblox was down by 26.4% as revenue, adjusted EBITDA, and earnings per share were higher than expected in the fourth quarter. Revenue and adjusted EBITDA expectations for the first quarter were higher than expected.

Angi was down by 23.5% as revenue and earnings per share were higher than expected in the fourth quarter, while EBITDA was lower.

Wix was down by 23% as revenue in the fourth quarter fell short of expectations, while earnings per share remained flat. Revenue projection for the first quarter was lower than expected. Guggenheim Securities downgraded the stock from buy to neutral.

Shopify was down by 16% as its Q4 EPS was higher, but operating income was lower; revenue was higher, but the Subscription segment was lower; gross profit was lower on the Merchant side; GMV was higher, but the monthly recurring income was lower; analysts were cautious on some metrics, including MRR, GM, and ramp of spending to attract new customers.

Allot was downy by 15% as revenue in the fourth quarter was higher than expected, although earnings per share were flat. The revenue forecast for the fiscal year was lower than expected. At an initial cost of $40 million, the company entered into private financing using 2025 convertible promissory notes.

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#38

Cryptocurrency Exchange FTX US Is Opening a New Gaming Division: FTX Gaming, the American affiliate of Sam Bankman’s crypto exchange, establishes a new gaming business. The news isn’t shocking. Only a month ago, FTX.US president Brett Harrison stated that gaming would play a significant role in the exchange’s 2022 ambitions. FTX’s new venture intends to assist gaming companies in incorporating blockchain technology and NFTs into their games.

On Monday, Russian President Vladimir Putin recognized the independence of the Donetsk People’s Republic and Luhansk People’s Republic regions in eastern Ukraine, authorizing the deployment of peacekeeping troops. In response, Western leaders are preparing and employing retaliatory measures. German Chancellor Olaf Scholz put the operating license for Nord Stream 2 on hold, and the European Council is finalizing a package of sanctions against Russia. The U.S. and U.K. also plan on imposing sanctions, but additional, more aggressive actions will likely be taken.

Agora was up by 12% as JPMorgan downgraded from overweight to neutral, with a target price of $11 down from $31.

Unisys was up by 9% as Revenue, Adj. EBITDA and EPS were all higher than expected in the fourth quarter. Management issued guidance for FY22.

Okta was up by 3% as JMP Securities upgraded from market perform to market outperform as part of a coverage note transfer, $260 target.

Airgain was down by around 7% as B Riley Securities downgraded the stock to neutral from buy, lowering the target price to $10 from $20, citing supply-chain problems.

Sohu was down by 3% as revenue and EPADS were down year on year in the fourth quarter, while non-GAAP net income attributable to continuing operations was down but above projections. Management offered first-quarter guidance.

#39

I know your portfolio is RED right now and mine is similar too… Let’s hope for the best, make sure to look for the fundamentals before you end up shorting the stock! Here’s some news for you:

Tech Giants will now have to share more data under the new EU proposal - New rules proposed this week in a law called the “Data Act” would compel corporations in Europe to share data. The law aims to help smaller businesses compete with larger ones “ensures that industrial data is exchanged, kept, and processed in complete compliance with European regulations.” To put it another way, the Data Act seeks to level the playing field in the battle to profit from non-personal data. The proposal, which is expected to add 270 billion euros to the European economy by 2028, is part of a global effort to regulate Big Tech.

Here are some Notable Movers:

Cadence Systems was down by 4% as revenue and earnings per share were higher than expected in the fourth quarter. Revenue and EPS forecasts for the first quarter were both higher than expected. Revenue and EPS forecasts for the fiscal year were both higher than expected. Berenberg has been upgraded to buy from hold.

Overstock was up by 23% as ICE announced a strategic investment in OSTK’s tZERO and will become a significant minority shareholder. However, the transaction specifics were not disclosed; OSTK also outperformed on Q4 EPS despite low sales; the business noted an increase in average order value and orders per active client.

Sierra Wireless was up by 16% as revenue, adjusted EBITDA, and earnings per share were higher than expected in the fourth quarter. Revenue projection for the first quarter was higher than expected.

Vertiv Holdings was down by 37% as revenue, adjusted operating income, and earnings per share were lower than expected in the fourth quarter. Revenue, adjusted operating income, and EPS expectations for the first quarter were lower than expected. FY sales projection was more than expected, but EPS was lower. Management noted supply chain difficulties and part shortages, which are projected to improve in the second half compared to the first.

Monday.com was down by 28% as Q4 EPS and revenue were higher than expected; GM and OM were higher than anticipated; deferred revenue, billings, and FCF were also higher than expected; and guided Q1 and FY revenue midpoints were higher than expected, though the Street was disappointed by a more considerable expected operating loss than consensus and weak operating margin guidance.

Rackspace Technology was down by 13% as revenue and earnings per share were higher than expected in the fourth quarter. Revenue and EPS forecasts for the first quarter were both lower than expected. Deutsche Bank downgraded the stock from buy to hold. At BMO, the store was also lowered to market perform from outperform.

Sapiens International was down by 11.6% as revenue and adjusted EBITDA were lower than expected in the fourth quarter, while EPS and adjusted operating income were higher. The revenue forecast for FY22 was lower than expected.

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#40

How the Technology Industry Is Reacting to Russia’s Invasion of Ukraine: Russia’s invasion of Ukraine is already influencing the broader tech sector. For starters, startups in Ukraine are experiencing severe economic fallout: Ajax, Grammarly, and Readdle all face dim prospects. Ukraine is home to some of the world’s most talented engineers, designers, and general technologists. Aside from startups, numerous Big Tech corporations have R&D facilities in Ukraine and whole teams providing specialised services. Google, TikTok, and Uber, to name a few, are currently monitoring their personnel and services in the region. One source of worry is that consumer-facing platforms may convey misinformation or deception as events develop.

Russia’s Invasion of Ukraine: Bitcoin to Play a Role on Both Fronts: Bitcoin and other cryptocurrencies will almost probably play a role on both sides of the Russian-Ukraine war. As Ukrainians race to withdraw their money from banks, the demand to get rid of currency multiplies tenfold. Furthermore, foreigners wishing to assist Ukraine have begun giving crypto (mostly Bitcoin) donations, totalling roughly $400,000 in value. On the opposite side of the aisle, with the impending assault of sanctions, some speculate that Russia may embrace cryptocurrency as a type of “work-around.” Aside from Bitcoin, you may be aware that Vitalik Buterin, the co-creator of Ethereum, was born in Russia.

The Ukraine crisis poses a challenge to the oil industry, which is already wary of high prices: Oil prices have been growing over the last year or two, and with Russia’s invasion of Ukraine, things are set to worsen. Russia is the world’s third-largest oil producer and the source of around 40% of Europe’s natural gas. While the United States and Europe have hastened to impose further economic sanctions on Russia, the measures have stopped short of shutting off Russia’s energy supply completely. Nonetheless, due to Russia’s pool’s uncertainty, energy costs are rising even more. Many analysts believe a “global energy catastrophe” is on the horizon.

Offerpad Solutions was up by 26% as revenue was lower than planned in the fourth quarter, although adjusted EBITDA and adjusted net income were higher. The total number of residences sold in FY21 exceeded expectations. Revenue and adjusted EBITDA expectations for the first quarter were higher than expected.

Universal Display was up by 23% as revenue in the fourth quarter was more than expected, while earnings per share were lower. The revenue forecast for the fiscal year was lower than expected.

Zeta was up by 18% as revenue and EBITDA were higher than expected in the fourth quarter, but EPS was lower. The revenue estimate for the first quarter was lower than expected, while EBITDA was in line. Revenue and EBITDA forecasts for the fiscal year were both higher than expected.

Imax was up by 9% as revenue, EBITDA, and EPS all above forecasts in the fourth quarter; management touted a record December box office, post-pandemic demand for premium theatrical experiences, installations/more screens, and diversification outside box office (live events).

Ansys was up by 7% as revenue, EBITDA, and EPS were above expectations in the fourth quarter; management cited a record December box office, post-pandemic demand for premium theatrical experiences, installations/more screens and diversification outside of box office (live events).

Booking was down by 7% as revenue, adjusted EBITDA, and earnings per share were higher than expected in the fourth quarter.

NetApp was down by 6% as revenue in the third quarter aligned with expectations, although earnings per share were higher. Revenue projection for the fourth quarter was higher than expected, while earnings per share were lower.

United Microelectronics was down by 2% as the board authorised a capital budget of NT$71.22 billion. To construct a new 22nm fab in Singapore. Production is set to begin in 2024.

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