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…
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…
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…
Myovant Stock Falls 19% After FDA Faults Endometriosis Drug Application
(Myovant) Shares of Myovant Sciences fell more than 19% on Tuesday after the US Food and Drug Administration cited deficiencies in filing for an endometriosis drug. FDA did not offer…
German’s Lenders Deutsche Bank and Commerzbank Tumble as Investors Exit Stakes
(WSJ) Shares of German’s lenders Deutsche Bank and Commerzbank fell more than 8% each on Tuesday as investors downsized holdings. Investors reportedly sold 5% stakes in both lenders at proceeds…
Charlie Munger’s Daily Journal Corp. Dumps 50% of Alibaba Stake
(Reuters) Charlie Munger’s Daily Journal Corp. held around 300,000 shares of Alibaba as of March 31, a more than 50% reduction of stake from 602,060 at the end of 2021.…
Bilibili Lead Chinese Gamer Stock Gains as Beijing Ends Longstanding Freeze
(CNBC) Shares of China’s video-sharing site Bilibili rose more than 8% on Monday as news emerged that Beijing had okayed the first batch of video games for monetization. Other US-listed…
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