J&J Revenues Miss Forecasts in Q1 2022, Downgrades FY22 Profit Forecast
(J&J) Johnson & Johnson reported sales of $23.4 billion in the first quarter of 2022, up 5% from the prior year but below the forecast of $23.6 billion. The company…
Cassava Sciences Stock Falls 24% as More Experts Challenge Alzheimer Drug Data
(NY Times) Shares of biotech firm Cassava Sciences plunged 24% in premarket on Tuesday after more researchers faulted its trial results for the experimental Alzheimer drug. Cassava claimed, last summer,…
BNB Chain Seeks to Burn Over 1.8M Binance Coins This Quarter
(Twitter) Around $741,840,738 worth of Binance coins will be taken out of circulation soon according to the crypto exchange’s Changpeng Zhao. The total number of Binance coins to be burned…
Russia Says It Is Struggling Finding Forex Options as Global Freeze Mount
(Markets Insider) The Governor of Russian central bank Elvira Nabiullina has admitted that the country faces challenges getting foreign currency options due to the freeze of its global reserves. The…
US Builder Confidence Goes Lower Again in April as Rates Soar
(NAHB) The builder confidence in the US for newly constructed single-family homes plunged by two points to 77 in April. The decline was the fourth time in a row. The…
World Bank Downgrades Global Growth to 3.2% on Ukraine War Impacts
(Bloomberg) The World Bank projects a global growth of 3.2% this year, down from an earlier prediction of 4.1%. The World Bank cites impacts emanating from the Ukrainian war as…
Charles Schwab Falls 10% as First Quarter Profit Declines to $1.4B
(Schwab) Charles Schwab reported a net profit of $1.4 billion in the first quarter of 2022, down from a profit of $1.5 billion in the first quarter of 2021. The…
Casa Systems Soars 58% After a Multi-Year Contract Award by Verizon
(Casa Systems) Shares of Casa Systems Inc. rose more than 58% on Monday after being awarded a multi-year 5G contract by Verizon. Under the deal, Casa Systems will provide Verizon…
BNY Mellon Revenues Unchanged in Q1 2022, Net Income Falls 18%
(BNY Mellon) The Bank of New York Mellon Corporation reported total revenues of $3.9 billion in the first quarter of 2022, unchanged compared to the prior year. Excluding the impacts…
Bank of America Reports $23.23B Revenue in Q1 2022 on Better Credit Quality
(BofA) Bank of America posted total revenue of $23.23 billion in the first quarter of 2022, higher than $22.82 billion in the prior year. The revenue was higher than estimates…
Didi Stock Falls as Revenue Drops 12.7% In Q4 21, Schedules Us Delisting Vote
(Didi) Shares of Didi Global plunged more than 19% on Monday after posting a 12.7% decline in revenues in the fourth quarter of 2021. Didi’s revenue in the fourth quarter…
China’s GDP Grows by 4.8% in Q1, Exceeding Estimates, and Unemployment Hits a Record
(NBS) China’s economy grew by 4.8% in the first quarter from the prior year, surpassing estimates of 4.4% gain despite Covid-19 slowdowns. Most economic parameters beat estimates in the first…
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