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.