Highlights of the day: 11 May

July 17, 2023

Author

FinMeUp

FinMeUp highlights of the day

U.S. Inflation
Headline CPI up 8.3% y/y, 0.3% m/m. Yields up, futures down.
More pressure on the Fed to raise interest rates aggressively.

Datatec Ltd Trading statement
Underlying EPS is expected to be between 18.0 and 19.0 US cents. This represents an increase of 32% to 40% when compared to FY2021.
HEPS is expected to be between 15.5 and 16.5 US cents. This is an increase of more than 100% when compared to FY2021.
The group continued to benefit from technology demand for networking, security and cloud infrastructure with an increased software and services mix.

Sofi Q1 Earnings
Revenue: $321.7M v $287M Expected
EPS: -$0.14 v -$0.14 Expected
SOFI Guides Q2 Revenue $330-340M v $342M Expected.
SOFI Raises FY22 revenue: $1.51B v $1.47B Expected.

Tesla
Elon Musk says China is 25-30% of Teslas market long-term.
Despite shutdowns, Tesla Giga Shanghai produced more than 10,000 vehicles in April

Toyota Motors FY21/22 Earnings
Revenue: $218.61B vs. $240.27B Expected.
EPS: $15.84 vs. $17.10 Expected.
Toyota delivered 2,703 EVs in their 2021-2022 fiscal year.
Toyota is forecasting 9,900 EV deliveries for their 2022-2023 fiscal year.

Ford
Ford will lose more than $3 billion on the 8 million $RIVN shares they are selling today.
Ford ended up selling 8 million shares of $RIVN for $26.80 per share. Fords investment in Rivian led to a first-quarter net loss of $3.1 billion.

Famous Brands Trading Statement for the year ended 28 February 2022
HEPS is expected to increase between 473% and 555% when compared to the prior comparable year.
basic EPS is expected to increase between 123% and 128% when compared to the prior comparable year.
This is a result of the business recovering from the Covid-19 impact.

Coinbase Q1 Earnings
Revenue: $1.17B v $1.47B Expected.
EPS: -$1.98 v $0.35 Expected.
Monthly Transacting Users: 9.2M v 6.1M y/y v 11.4M q/q.
trading volume $309B v $335B y/y v $547B q/q

Terra meltdown
Terra's luna, a cryptocurrency designed to support UST's one-to-one peg with the U.S. dollar, has lost almost 90% of its value over the last week as traders offload the cryptocurrency.

Biggest winners and losers:
JSE
Naspers +7.01%
Pick n Pay -1.41%

US
AMD +4.00%
Okta -2.88%

Crypto
Solana -.17.5%
Avalanche -24.5%
Terra -85.1%

Our weekly newsletter discusses the highlights of the week, as well as a brief overview of the best content posted on the app for the week. To sign up, feel free to visit our website: https://www.finmeup.co.za/, or click directly on the following link: https://bit.ly/FinMeUp_Newsletter