Robinhood Extends Declines to Record Lows as IPO Lockup Expires
(Seeking Alpha) Brokerage firm Robinhood Markets fell up to 7.9% to touch a record low of below $24 on heavy trading volume as its IPO lockup ended. Robinhood’s stock attracted…
Producers Prices Beat Estimates in the Euro Area and EU in October
Source: Eurostat Industrial producer prices rose by 5.4% in October from September in the euro area and 5.0% in the EU, beating the expected 3.5% gain. DAX is down -1.00%,…
Unemployment Rate Falls Marginally in the Euro Area in October, Stable in the EU
(Eurostat) Euro area unemployment was at 7.3% in October, a marginal decline compared to 7.4% in September and was down from 8.4% posted the previous year. In the EU, the…
Snowflake Upgrades Guidance as Revenues Jump 110% in Q3 2022
(Snowflake) Snowflake reported revenue of $334.4 million in the third quarter of 2022, an increase of 100% from the prior year’s fiscal quarter. Product revenue in the third quarter climbed…
Apple Cuts Demand Outlook for iPhone 13 as Customers Forgo Holiday Shopping
(Bloomberg) Apple Inc. has warned its suppliers to expect a slump in demand for iPhone 13 heading into the holiday season as consumers forgo shopping on Omicron and inflation concerns.…
Square Hints at Blockchain Pursuit With a Name Rebrand to Block
(Block Inc.) Jack Dorsey’s Square has changed its corporate name to Block in a rebranding move seen to signal its intentions into blockchain technology. Square said that the name change…
US Manufacturing Improves for the 18th Month as Key Constraints Ease
(ISM) US Manufacturing PMI was at 61.1% in November, a gain of 0.3 percentage point from the previous month. The PMI reading indicates manufacturing expansion for the 18th month following…
Ambarella Projects Lower Revenue in Q4 2022 After a 64% Jump in Q3
(Ambarella) Ambarella Inc. reported revenues of $92.2 million in the third quarter of 2022, an increase of 64% from the prior fiscal year’s quarter. Revenue in the nine months to…
US Private Sector Adds 534,000 Jobs in November
(ADP National Employment) The US private sector maintained recovery, with 534,000 jobs created from October to November of 2021. Large businesses added the bulk of the jobs at 277,000. Medium…
PBOC Official Mentions Metaverse and NFTs in Next Move of Crypto Crackdown
(The Paper) The People’s Bank of China is targeting metaverse and non-fungible tokens in ramped-up measures to tame the crypto industry. Gou Wenjun, PBOC director, highlights the risks of money…
Eurozone Manufacturing Improves Marginally in November Amid Supply Issues
(IHS Markit) Eurozone’s Manufacturing PMI was at 58.4 in November, a marginal improvement from a final reading of 58.3 in October. The manufacturing PMI reading reflects the first increase since…
XPeng Deliveries Jump by 270% in November
(XPeng) XPeng Inc. announced 15,613 vehicle deliveries in November 2021, up 270% from the previous year. November deliveries comprised 7,839 P7s, an increase of 187% from the prior year. The…
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