US Manufactured Goods Orders Accelerates by 1.4% In January
(Census Bureau) The US recorded $544.2 new orders for manufactured goods in January, up by 1.4% or $7.6 billion from December. The manufactured goods orders have now increased in the…
Kroger Jumps 10% as Sales Hit $33 Billion in Q4 2021, Upgrades Guidance
(Kroger) Kroger Co. stock rose more than 10% on Thursday after reporting sales of $33.0 billion in the fourth quarter of 2021, up from $30.7 billion in the prior year. …
US Services Business Activity Rises Sharply as PMI Hits 56.5 in February
(IHS Markit) The US Services PMI was registered at 56.5 in February, an increase from 51.3 in January amid strong demand conditions. The expansion in service business activity reflected a…
US Jobless Claims Decline by 18,000 to a Below-Estimate Level
(Department of Labor) US jobless claims were posted at 215,000 in the week to February 26, down by 18,000 from the previous week. The claims were below estimates of 225,000.…
Euro Area, EU Unemployment Edges Lower in January
(Eurostat) The euro area unemployment rate was 6.8% in January, declining from 7.0% in the previous month, and 8.3% in the comparable month of 2021. In the EU, unemployment was…
China’s Service Business Activity Grows at the Weakest in 6 Months in February
(HIS Markit) China’s Business Activity Index was recorded at 50.2 in February, a decline from 51.4 in January, marking the softest expansion since September. The slowdown in the service activity…
Tencent Seeks Regulatory Stamp from Beijing for Its Virtual Concerts in Metaverse
(Cointelegraph) Tech giant Tencent has filed for a patent with the Chinese National Intellectual Property Administration to launch virtual concerts in the metaverse. The patent filing by Tencent comes amid…
Snowflake Tanks Despite Robust Q2 2022 Earnings as Growth Outlook Fails to Excite
(Snowflake) Snowflake stock fell more than 22% on Thursday despite reporting a 101% jump in the fourth quarter of 2022 revenue which hit $383.8 million. The company reported product revenue…
US Crude Stockpiles Plunged by 2.6M Barrels Last Week
(EIA) US inventories of commercial crude oil were 413.4 million barrels in the week that ended February 25, down by 2.6 million barrels from the previous week. Inventories of motor…
Next Games Stock More Than Doubles After Announcing Purchase by Netflix
(Next Games) Shares of Next Games rose 119% on Wednesday after confirming a $72 million acquisition deal by streaming giant Netflix. Netflix is expected to pay 2.10 euros or $2.33…
Adagene Soars 15% After a $2.5B Multi-Target Collaboration With Sanofi
(Adagene) Shares of Adagene Inc. rose more than 15% on Wednesday after a license agreement with Sanofi that will see the company earn up to $2.5 billion, plus royalties. The…
US Private Sector Adds 475,000 Jobs in February, Small Firms Struggle
(ADP National Employment) US private sector showed accelerated hiring in February, adding 475,000 jobs and surpassing estimates of 378,000. Large businesses generated the bulk of jobs, with a total of…
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