TSMC Expects Higher Sales Ahead as Q1 2022 Earnings Jump 45%
(TSMC) Taiwan Semiconductor Manufacturing Co. reported a net income of NT$202,733 billion or $7 billion in the first quarter of 2022, an increase of 45.1% from the prior year. TSMC…
Ericsson Stock Falls 6% As Q1 202 Net Income Drops
(Ericsson) Shares of Ericsson fell more than 6% on Thursday after reporting a net income of SEK2.9 billion in the first quarter of 2022, down by 8% from the prior…
EIA Reports a 9.4M Surge in US Crude Oil Inventories
(EIA) US stockpiles of crude inventories were 421.8 million barrels in the week that ended April 8, an increase of 9.4 million barrels from the previous week. The rising inventories…
Bed Bath & Beyond Laments Global Disruptions as Sales Tank 22% in Q4 2021
(Bed Bath & Beyond) Bed Bath & Beyond reported net sales of $2.051 billion in the fourth quarter of 2021, down 22% from the prior year. Bed Bath & Beyond…
BlackRock Profit Jumps 20% In Q1 2022, AUM Dips
(BlackRock) The world’s largest asset manager, BlackRock, netted an income of $1.4 billion or $9.35 per share in the first quarter of 2022, an increase of 20% from the prior…
Luna Foundation Grows Its BTC Reserves Again, Adds $100M of the Cryptocurrency
(Twitter) The Luna Foundation Guard has bought another $100 million worth of BTC as the price of the cryptocurrency edges lower. The latest buy means that LFG now holds about…
US Defense Department Seeks to Meet Top Arm Makers for Further Aid to Ukraine
(FT) The Pentagon is expected to host a meeting on Wednesday with eight largest defense contractors in the US for more weapons to Ukraine soldiers battling Russian invasion. Some of…
JPMorgan Profits Plunge 42% in Q1 on Slowdown in Dealmaking
(JPMorgan Chase) JPMorgan Chase & Co reported a 42% plunge in quarterly profit as dealmaking slowed and the lender began building loan loss reserves amid the Ukrainian crisis. The lender…
PayPal CFO to Exit for Walmart, Analysts Fault Timing
(Bloomberg) PayPal Holdings Inc. Chief Financial Officer John Rainey will leave the payments giant for Walmart on June 6. Rainey will replace Brett Biggs as Walmart’s finance chief in a…
Sierra Oncology Jumps 36% on $1.9B Acquisition by GlaxoSmithKline
(Sierra Oncology) Shares of Sierra Oncology rose more than 36% in premarket on Wednesday after agreeing to be acquired by Sierra Oncology for $1.9 billion. The deal will see Sierra…
China’s Imports Hit a Snag in March Amid Covid-19 Curbs, Falling Demand
(Reuters) Inbound shipments to China fell by 0.1% in March from the prior year, the first decline since August 2020 due to Covid-19 restrictions. The Covid-19 restrictions reportedly curtailed freight…
UK Inflation Accelerates by an Annual 7.0 % in March, a 3-Decade High
(ONS) The UK Consumer Prices Index increased by 7.0% in the 12 months to March 2022, accelerating from a gain of 6.2% in February. The annual surge in inflation reflected…
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