Evergrande Hits a Record Low After Raising an Alarm on $82.5M Debt Payment
(Reuters) Shares of Evergrande hit a record low of HK$1.81 on Monday after falling up to 20% as the Chinese property developer said it might fail on maturing $82.5 million…
Alibaba Forms a Domestic and International Unit in New Restructuring, Appoints CFO
(Reuters) Alibaba Group Holdings will reorganize its domestic and international operations as the tech giant focuses on being more agile and competitive. The restructuring move will see Alibaba form two…
Nvidia’s $82 Billion Arm Deal Hangs in Balance as US FTC Moves to Court
(FT) US Federal Trade Commission has moved to court to stop the planned $82 billion deal for Arm, a UK chip design entity currently under the control of SoftBank. FTC…
Didi Heeds Call by Beijing to Delist From the US Dampening Outlook for Tech Giants
(FT) China’s ride-sharing giant Didi Chuxing said it will start the process of exiting the New York Stock Exchange in preference for Hong Kong. Didi says it has already authorized…
DocuSign Plummets After Revenue Guidance in Q4 2022 Disappoints
(DocuSign) Shares of DocuSign Inc. plunged more than 29% on Friday as revenue guidance of $557 million to $563 million the fourth quarter of 2022 missed the expected $575.3 million.…
Kroger Issues FY21 Guidance as Sales in the Third Quarter Hit $31.9 Billion
(Kroger) Kroger reported sales of $31.9 billion in the third quarter, an increase from $29.7 billion posted in the prior year. The company's identical sales, excluding fuels, rose by 3.1%…
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…
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.…
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…
Li Auto Deliveries Jump 190% in November to New Record Units
(Li Auto) Li Auto Inc. posted a record 13,485 deliveries of Li ONEs in November, an increase of 190.2% from the prior year. In the eleven months ending November 30,…
JPMorgan Projects 9% S&P Rally by End-2022 Amid Omicron Concerns
(Bloomberg) JPMorgan strategists say the Omicron variant will not derail the stock rally, expecting S&P 500 to gain up to 9% by the end of 2022. The strategists foresee a…
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